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

Interest on overdraft charged by the bank is recorded in the cash column.
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State whether the following statement are True or False with reason : Interest on overdraft charged by the bank is recorded in the cash column.
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Description : The debit balance of Pass Book represents overdraft.

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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

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Description : What is overdraft protection (ODP)?

Last Answer : What is the answer ?

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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

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

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Last Answer : Cash credit

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