A bank does not issue a debit memorandum to notify the depositor of which of the following?
A)Withdrawals through an ATM.
B)A fee assessed to the depositor's account.
C)An uncollectible check.
D)Periodic payments arranged in advance, by a depositor.
E)A deposit to their account.

Question

Quizplus · Accepted Answer

A debit memorandum is a document that a bank sends to a depositor to inform them of deductions made from their account. The bank does not issue a debit memorandum to inform the depositor of a deposit made to their account.

A Bank Does Not Issue a Debit Memorandum to Notify