What is a brokerage bill?

A brokerage bill typically refers to the fees charged by a brokerage to facilitate transactions on behalf of a client. This encompasses various costs associated with executing trades, processing transactions, and managing accounts. In the context of this question, option B accurately represents the primary function of a brokerage bill, as it is specifically related to the costs incurred for executing trades or transactions in financial markets, which is a central part of the brokerage's role.

While other options describe various types of fees associated with investing, they do not encapsulate the comprehensive nature of a brokerage bill as option B does. For instance, fees for advisory services and commissions on sales are more specialized aspects of financial services that may not include the broader transaction facilitation aspect. A penalty for late trades typically represents an entirely different aspect of trading, dealing with compliance and timing rather than the transactional services that a brokerage bill covers.