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which of the following is an advantage of using bank accounts? bank accounts reduce the amount of cash on hand. the use of bank accounts facilitates the transfer of funds using eft systems. bank accounts provide an independent recording of cash transactions that can be compared to the company's recording of cash transactions. all of these choices are correct. 2. which of the following is not a reason for which a bank issues debit memos? service charges customer checks returned for insufficient funds payments made by electronic funds transfer interest earned on the company's account

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BinithaR

A) The advantages of using bank account is :

  • Bank accounts reduce the amount of cash on hand.
  • The use of bank accounts facilitates the transfer of funds using eft systems. Bank accounts provide an independent recording of cash transactions that can be compared to the company's recording of cash transactions

B ) Interest earned on the company's account is not the reason bank issue debit memos .

What is meant by bank account ?

You can deposit and withdraw money from a bank account, make payments, send money to another person or organization, pay bills online, and more. Direct payments from employers or other institutions can be received through bank accounts, allowing you to spend without having cash on hand.

Various account kinds are available from banks. Savings, current, salary, and BSBDA accounts are a few typical examples. Additionally, fixed and recurring deposit accounts are available. Almost all accounts come with a variety of services from banks, such as debit cards, net banking, and other things. To access your accounts, you can also download banking applications.

To learn more about bank account refer to :

https://brainly.com/question/1287000

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