Question

Bank charges are an example of an operation expense

Answer 1

[AI-generated answer — Bot GPT 3.5]

for a financial institution. These charges are fees that the bank imposes on its customers for various services, such as ATM withdrawals, wire transfers, overdraft fees, and account maintenance fees. These charges help offset the costs of providing these services and generating revenue for the bank. Operation expenses are necessary costs incurred by a business to maintain its daily operations and generate revenue.