Question

What is a "closing balance?"

a. The amount of money you have at the end of the statement period
b. The amount of money you have when you close your account
The amount of money you owe at the end of the statement period
d. The amount of money waiting to be transferred out of your account
C
Please select the best answer from the choices provided
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Answer 1

Option A

The amount of money you have at the end of the statement period

Explanation:

we know that

A closing balance is the amount in an account at the end of a period of time, for example, a month or a year. The closing balance could be a negative or positive amount.