Which of the following correctly defines the Leave and Earnings Statement (LES)?

The Leave and Earnings Statement (LES) is fundamentally a detailed statement of financial entitlements, which includes information about a service member's pay, leave status, deductions, and other financial details. It provides a comprehensive overview of a member's earnings, including base pay, allowances, bonuses, and any mandatory deductions such as taxes, retirement contributions, and insurance premiums.

The LES is crucial for service members as it helps them manage their finances effectively, ensuring they understand their pay structure and any changes that might occur in their compensation. This statement not only serves as a financial document but also plays a vital role in personal financial planning and budget management for military personnel.