Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 7 - No. 24)

What are the main purposes of a bank current account?
a) A bank current account is used to keep the record of cash paid and received
b) The main purpose of the bank current account is to record the transactions and provide the opportunity for an organisation to be paid by the bank.
c) A bank current account is only used to store money that an individual or organization does not intend to spend
d) A bank current account is used to record the transactions of the organization and is useful to pay and be paid.

Explanation

A bank current account is used to record the transactions of the organization and is useful to pay and be paid.

Comments (0)

Advertisement