An account statement for a bank that shows the sources of its funds and the uses of its funds is called:

Question

Quizplus · Accepted Answer

A bank's balance sheet shows the sources of its funds (liabilities and equity) and the uses of its funds (assets), providing a snapshot of the bank's financial position at a particular point in time. A person's checking account (A) is a subset of the bank's liabilities on the balance sheet. A bank's income statement (C) shows its revenues, expenses, and net income over a period of time, while a profit report (D) is not a common financial statement.

An Account Statement for a Bank That Shows the Sources