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How is the balance sheet linked to the other financial statement?

balance sheet is linked to financial statements as both statement are prepared for business authenticity, and are also link to each other because it is government requirements.


What is minimum balance?

The minimum amount a bank or other financial institution requires a customer to maintain in his or her account. The institution can set a minimum balance level for any of its accounts, and this amount will vary by institution. Usually, if the required minimum balance is not maintained, the customer is charged various fees for failing to meet the requirements.


What are 3 basic types of checking accounts?

The three basic types of checking accounts are standard checking accounts, which offer easy access to funds and typically come with a debit card; interest-bearing checking accounts, which pay interest on the balance but may have higher fees or minimum balance requirements; and student checking accounts, designed for young adults and students, often featuring lower fees and no minimum balance requirements. Each type caters to different financial needs and lifestyles.


What are the accounting requirements of not-for-profit organizations?

Three financial statements are required to be issued: a statement of financial position (balance sheet), a statement of activities (income statement), and a statement of cash flows


What is the difference between Actual balance and Available balance?

Actual balance is the real balance while avialable balance is the physical balance