Question

The most likely reason a bank statement or ATM balance varies from the check register is....

1) Errors made by the bank
2) Errors made by the customer
3) Interest earned on the account
4) Fees charged by the bank

Answer 1

Differences between a bank statement or ATM balance and a customer's check register are most likely due to customer errors, forgotten bank fees, or unrecorded interest.

Step-by-step explanation:

The most likely reason a bank statement or ATM balance varies from the check register is errors made by the customer. This is often due to the customer failing to track all transactions, forgetting to record fees or deposits, or arithmetic mistakes while balancing their checkbook.

While banks can make errors, they are less common due to automated systems. Also, discrepancies can be caused by fees charged by the bank or interest earned, as these may not be recorded promptly by the customer in the check register. Efficient financial management, like regularly updating your checkbook, helps prevent such variations and keeps track of your cash flow, thus avoiding problems like overdraft fees.