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
c. 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

The 'closing balance' is the amount of money you have at the end of the statement period.

Step-by-step explanation:

The 'closing balance' is the amount of money you have at the end of the statement period.

If you need a bank statement of a particular period, say for January month of the previous year, then the opening balance is the balance you have at the start of January month and the closing balance is the final amount you have at the end of January month.

Let the opening balance of January month is $x and you have made $c amount of positive transaction i.e. credit and $d amount of negative transaction i.e. debit throughout the month of January.

Therefore, the closing balance of the month of January is ($x + $c - $d).

linear

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