What is a bank statement?

• A. A receipt from a single purchase
• B. A document listing deposits, withdrawals, and balances over a period
• C. A plan for future expenses
• D. A checkbook

Answer: (C)

A bank statement is a document that shows all the money coming in and going out of your bank account over a period of time, usually a month. It lists deposits, withdrawals, and the ending balance, so you can see how much money you have and confirm that the bank’s records match your own. This helps you track spending, catch any mistakes, and monitor for unauthorized charges. The option that describes this idea is the one that says deposits, withdrawals, and balances are listed over a period. A receipt from a single purchase only covers one transaction, a plan for future expenses is budgeting, and a checkbook is a tool to record checks you write.