Final answer:
Bank statements provide details about all transactions except for depositor errors, which the account holder must identify. Assets listed on a bank's balance sheet might not be present as physical cash; they include loans, reserves, and securities.
Step-by-step explanation:
Understanding Bank Statements and Assets
Bank statements provide a record of the transactions that have gone through on your bank account, including any bank charges for the period, any NSF cheques (non-sufficient funds), and any cheques cleared during the period. However, bank statements do not typically detail errors made by the depositor, as these are usually identified and corrected by the account holder themselves.
On a bank's balance sheet, the money listed under assets may not actually be in the bank as cash. These assets include not only cash but also loans made to customers, which are effectively promises of future payment, and reserves held at the central bank, along with investments in various securities like bonds. The actual physical money is often far less than the total assets listed due to fractional-reserve banking, where banks keep only a fraction of their deposits on hand in cash.