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A debit balance in the bank statement indicates

This question belongs to Commerce Accounting
Accounting
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A debit balance in the bank statement indicates

Answer & Solution
Correct Answer: Option B
A debit balance in the bank statement indicates Bank overdraft. Overdrafts are where the bank account becomes negative and the businesses in effect have borrowed from the bank.
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2 Comments
Irtaza Naqvi
Irtaza Naqvi 5 months ago
debit balance in the bank statement means that business has balanace. then why it indicates bank overdraft?
ASHOK KUMAR
ASHOK KUMAR 7 years ago
taking loans after being the customer to bank?
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