Which of the following is the correct step for opening a bank account?

Choice of bank, account opened, submission, verification, documents received, application

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Choice of bank, application, submission, verification, documents received, account opened

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Choice of bank, application, documents received, submission, account opened, verification

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Account opened, choice of bank, application, submission, verification, documents received

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Solution

The correct option is B Choice of bank, application, submission, verification, documents received, account opened
Choice of bank, application, submission, verification, documents received, account opened
Once the choice is made, the application ca be filled and submitted for verification. After that, the documents are received and the account gets opened.

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Which of the following is correct for recording a journal entry for opening a bank account with cash?

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