Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 40 - No. 29)
What is the significance of a 'statement of account' in a business context?
It’s a request for payment.
It is a summary of financial transactions between a customer and a supplier.
It's a delivery document.
It is only issued by the customer.
Explanation
A statement of account summarizes transactions.
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