A bank statement

a. lets a depositor know the financial position of the bank as of a certain date.

b. provides a summary of all checking account transactions recorded by the bank.

c. is a credit reference letter written by the depositor's bank.

d. is a bill from the bank for services rendered.

The correct answer is b. Provides a summary of all checking account transactions recorded by the bank.

Explanation:

A bank statement is a montly report of all the financial transactions made in a bank account, that is sent to the account holder. The statement can be a physical copy or an electronic document, and will show the customer's information, statement date period, account number, customer service number and the date of each transaction. These transactions are:

Account's beginning balance, Deposits of checks and cash, Withdrawals, Interest earned, Bank service fees and penalties and The ending balance for the period in question.

Account holders are advised to do a timely review of their bank statement to verify that the transactions recorded match with their own financial records. When the records don't match there is a possibility of fraud or errors and they should be reported inmediately to the bank by providing the supporting documentation.