What is meant by Bank Overdraft?

What is meant by Bank Overdraft?
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What is meant by Bank Overdraft?
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What is bank overdraft ?

Description : What is bank overdraft ?

Last Answer : If the bank gives the owner of the current account a chance to withdraw the excess money from his deposit, he is called an overdraft. In this case the opportunity to withdraw money up to a certain limit is provided.

(i) Stock in trade, Bank overdraft, Bills receivable.

Description : (i) Stock in trade, Bank overdraft, Bills receivable.

Last Answer : Find the odd one : (i) Stock in trade, Bank overdraft, Bills receivable. (ii ... Income received in advance, Prepaid Expenses, Outstanding Expenses.

Interest on bank overdraft is recorded on _________ side of Pass Book. 

Description : Interest on bank overdraft is recorded on _________ side of Pass Book. 

Last Answer : Interest on bank overdraft is recorded on _________ side of Pass Book. (a) debit (b) credit (c) any (d) both

1 Cash Balance ₹ 56,000 Bank Overdraft ₹ 11,000

Description : 1 Cash Balance ₹ 56,000 Bank Overdraft ₹ 11,000

Last Answer : Enter the following transaction of Mr. Chavan in a cash book with cash and bank column for the month ... cash and electricity bill ₹ 7,400 by cheque.

Interest on overdraft charged by the bank is recorded in the cash column.

Description : Interest on overdraft charged by the bank is recorded in the cash column.

Last Answer : State whether the following statement are True or False with reason : Interest on overdraft charged by the bank is recorded in the cash column.

Bank overdraft means ___________ balance of Bank A/c. 

Description : Bank overdraft means ___________ balance of Bank A/c. 

Last Answer : Bank overdraft means ___________ balance of Bank A/c. (a) Debit (b) Credit (c) Positive (d) Nil

How to Recover Bank Account Overdraft Fees?

Description : How to Recover Bank Account Overdraft Fees?

Last Answer : WaitOnce you notice that you have an overdraft charge, you will need to wait until you know it has been posted. It does not matter if you see the charge online or if you just notice that your ... you do not need to worry about it for now.Call Customer ServiceOnce your overdraft fee and your deposit

The permission given to a bank customer to draw cheques in excess of his current account balance is called - (1) a personal loan (2) an ordinary loan (3) discounting a bill of exchange (4) an overdraft

Description : The permission given to a bank customer to draw cheques in excess of his current account balance is called - (1) a personal loan (2) an ordinary loan (3) discounting a bill of exchange (4) an overdraft

Last Answer : (4) an overdraft Explanation: Overdrafts is an extension of credit from a lending institution when an account reaches zero. An overdraft allows the individual to continue withdrawing money even if the ... available balance goes below zero. In this situation the account is said to be "overdrawn."

Which of the following is not a type of Bank credit 1. Loan 2. Fixed deposit 3. Overdraft 4. All of these 5. None of these

Description : Which of the following is not a type of Bank credit 1. Loan 2. Fixed deposit 3. Overdraft 4. All of these 5. None of these

Last Answer : Fixed deposit

A. Bank overdraft B. Bills Payable C. Account Payable D. Retain earning

Description : A. Bank overdraft B. Bills Payable C. Account Payable D. Retain earning

Last Answer : D. Retain earning

The permission given to a bank customer to draw cheques in excess of his current account balance is called (1) a personal loan (2) an ordinary loan (3) discounting a bill of exchange (4) an overdraft

Description : The permission given to a bank customer to draw cheques in excess of his current account balance is called (1) a personal loan (2) an ordinary loan (3) discounting a bill of exchange (4) an overdraft

Last Answer : an overdraft

Who is responsible for overdraft fees on a bad check?

Description : Who is responsible for overdraft fees on a bad check?

Last Answer : answer:Yes, you can hold her responsible for any fees that you incurred. You can also charge her a fee for your trouble having to track her down. If she does not pay you, you can take her to small claims court.

What is overdraft ?

Description : What is overdraft ?

Last Answer : If the bank gives the owner of the current account a chance to withdraw the excess money from his deposit, he is called an overdraft.

(i) Bank overdraft is an Asset of the business concern.

Description : (i) Bank overdraft is an Asset of the business concern.

Last Answer : Correct and Rewrite the following statements: (i) Bank overdraft is an Asset of the business ... expenses, and purchase transferred to Trading A/c)

Overdraft as per Cash Book means debit balance as per Cash Book.

Description : Overdraft as per Cash Book means debit balance as per Cash Book.

Last Answer : State whether the following statement are True or False with reason : Overdraft as per Cash Book means debit balance as per Cash Book.

The debit balance of Pass Book represents overdraft.

Description : The debit balance of Pass Book represents overdraft.

Last Answer : State whether the following statement are True or False with reason : The debit balance of Pass Book represents overdraft.

Overdraft facility is allowed to Proprietor’s Personal A/c.

Description : Overdraft facility is allowed to Proprietor’s Personal A/c.

Last Answer : State whether the following statement are True or False with reason : Overdraft facility is allowed to Proprietor’s Personal A/c.

Overdraft means _________ balance of Pass Book. 

Description : Overdraft means _________ balance of Pass Book. 

Last Answer : Overdraft means _________ balance of Pass Book. (a) opening (b) debit (c) credit (d) closing

Overdraft facility is allowed to __________ account. 

Description : Overdraft facility is allowed to __________ account. 

Last Answer : Overdraft facility is allowed to __________ account. (a) saving (b) recurring (c) current (d) fixed deposit.

Overdraft facility is given only to current depositors.

Description : Overdraft facility is given only to current depositors.

Last Answer : Justify the following statement: Overdraft facility is given only to current depositors.

Distinguish between the following: Loan and Overdraft

Description : Distinguish between the following: Loan and Overdraft

Last Answer : Distinguish between the following: Loan and Overdraft

Explain the following concept: Overdraft

Description : Explain the following concept: Overdraft

Last Answer : Explain the following concept: Overdraft

Select the correct option from the bracket: Group ‘A’ - (1) Overdraft

Description : Select the correct option from the bracket: Group ‘A’ - (1) Overdraft

Last Answer : Select the correct option from the bracket: Group A' Group B' (1) Overdraft ... Deposits, Current Account, Letter of Credit, Businessman)

Can I overdraft my capital one card?

Description : Can I overdraft my capital one card?

Last Answer : It would depend on which card you have and the policy governingthat card, but in most cases the answer would be yes and you wouldlikely be charged a hefty overdraft fee.

What is overdraft protection (ODP)?

Description : What is overdraft protection (ODP)?

Last Answer : What is the answer ?

What is the difference between a loan and an overdraft?

Description : What is the difference between a loan and an overdraft?

Last Answer : an overdraft is over drawing on a current account in excess of the credit balance whilst a loan is the act of lending or borrowing, for temporary use with permission

Which of the following is not a banking related term? (A) SME Finance (B) Equinox (C) Overdraft (D) Sanctioning Authority

Description : Which of the following is not a banking related term? (A) SME Finance (B) Equinox (C) Overdraft (D) Sanctioning Authority

Last Answer : Answer: Equinox

Failure to carryout a contract is called ? 1. breaking 2. default 3. overdraft 4. insolvency 5. None of these

Description : Failure to carryout a contract is called ? 1. breaking 2. default 3. overdraft 4. insolvency 5. None of these

Last Answer : breaking

What is similar to overdraft except that it is comparatively for a longer period?

Description : What is similar to overdraft except that it is comparatively for a longer period?

Last Answer : Cash credit

Unsecured short term deposit made by one company with another (only in case of public company) a. ICD b. Overdraft c. Cash Credit d. Promissory Note

Description : Unsecured short term deposit made by one company with another (only in case of public company) a. ICD b. Overdraft c. Cash Credit d. Promissory Note

Last Answer : a. ICD

What is meant by bank liquidity policy ?

Description : What is meant by bank liquidity policy ?

Last Answer : : Liquidity is the fastest conversion into cash with less loss of property. According to the Banking Act, a bank is obliged to return the money of its depositor on demand. Liquidity policy is the policy under which banks lend and invest the rest of their cash and liquid assets.

What is meant by Merchant Bank ?

Description : What is meant by Merchant Bank ?

Last Answer : : Merchant Bank is a bank formed by a combination of exchange banking and investment banking. In foreign trade, these banks issue certificates to the customers , recognize the bills raised by the ... bill. Merchant banks provide long-term loans , invest in joint ventures, and act as creditors.