The debit balance of Pass Book represents overdraft.

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

What do you mean by the debit balance of Pass Book?

Description : What do you mean by the debit balance of Pass Book?

Last Answer : What do you mean by the debit balance of Pass Book?

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

Credit balance in the Pass Book represents _____________ 

Description : Credit balance in the Pass Book represents _____________ 

Last Answer : Credit balance in the Pass Book represents _____________ (a) overdraft (b) bank balance (c) loan borrowed (d) negative

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.

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

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."

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

(i) Overdraft as per cash book means debit balance as per cash book.

Description : (i) Overdraft as per cash book means debit balance as per cash book.

Last Answer : Correct and rewrite the following statements. (i) Overdraft as per cash book means debit balance as ... on overdraft A/c is income for the business.

Payments made by the bank as per standing instructions are recorded on the Debit balance of the Pass Book.

Description : Payments made by the bank as per standing instructions are recorded on the Debit balance of the Pass Book.

Last Answer : State whether the following statement are True or False with reason : Payments made by the bank ... recorded on the Debit balance of the Pass Book.

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.

Can you buy food with a debit card if it has a negative balance?

Description : Can you buy food with a debit card if it has a negative balance?

Last Answer : Depends on your bank’s policy. Mine would allow it then slap me with some hefty overdraft fees.

When the total of debit side of an account exceeds credit side, it is called __________ balance. 

Description : When the total of debit side of an account exceeds credit side, it is called __________ balance. 

Last Answer : When the total of debit side of an account exceeds credit side, it is called __________ balance. (a) Debit (b) Credit (c) Nil (d) Real

Excess of debit total of an account over it’s credit total indicates _____________ balance. 

Description : Excess of debit total of an account over it’s credit total indicates _____________ balance. 

Last Answer : Excess of debit total of an account over it’s credit total indicates _____________ balance. (a) Negative (b) Positive (c) Debit (d) Credit

State the meaning of ‘Debit Balance’.

Description : State the meaning of ‘Debit Balance’.

Last Answer : State the meaning of ‘Debit Balance’.

Debit balance of Trading Account means ___________ 

Description : Debit balance of Trading Account means ___________ 

Last Answer : Debit balance of Trading Account means ___________ (a) Gross Loss (b) Net Loss (c) Net Profit (d) Gross Profit

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Description : Is the AR on balance sheet credit or debit account?

Last Answer : Feel Free to Answer

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Description : What is debit is not the normal balance?

Last Answer : Feel Free to Answer

Which of the following accounts has a normal debit balance? a. Merchandise Inventory b. Sales Returns and Allowances c. Cost of goods sold d. Sales

Description : Which of the following accounts has a normal debit balance? a. Merchandise Inventory b. Sales Returns and Allowances c. Cost of goods sold d. Sales

Last Answer : d. Sales

ncome Summary has a credit balance of $12,000 in J. Sawyer Co. after closing revenues and expenses. The entry to close Income Summary is a. credit Income Summary $12,000, debit Retained Earnings $12,000. b. credit Income Summary $12,000, debit Dividends $12,000. c. debit Income Summary $12,000, credit Dividends $12,000. d. debit Income Summary $12,000, credit Retained Earnings $12,000.

Description : ncome Summary has a credit balance of $12,000 in J. Sawyer Co. after closing revenues and expenses. The entry to close Income Summary is a. credit Income Summary $12,000, debit Retained Earnings ... 000, credit Dividends $12,000. d. debit Income Summary $12,000, credit Retained Earnings $12,000.

Last Answer : d. debit Income Summary $12,000, credit Retained Earnings $12,000.

Speedy Bike Company received a $940 check from a customer for the balance due. The transaction was erroneously recorded as a debit to Cash $490 and a credit to Service Revenue $490. The correcting entry is a. debit Cash, $940; credit Accounts Receivable, $940. b. debit Cash, $450 and Accounts Receivable, $490; credit Service Revenue, $940. c. debit Cash, $450 and Service Revenue, $490; credit Accounts Receivable, $940. d. debit Accounts Receivable, $940; credit Cash, $450 and Service Revenue, $490.

Description : Speedy Bike Company received a $940 check from a customer for the balance due. The transaction was erroneously recorded as a debit to Cash $490 and a credit to Service Revenue $490. The ... Receivable, $940. d. debit Accounts Receivable, $940; credit Cash, $450 and Service Revenue, $490.

Last Answer : c. debit Cash, $450 and Service Revenue, $490; credit Accounts Receivable, $940.

If Income Summary has a credit balance after revenues and expenses have been closed into it, the closing entry for Income Summary will include a a. debit to the retained earnings account. b. debit to the owner’s dividends account. c. credit to the retained earnings account. d. credit to the owner’s dividends account.

Description : If Income Summary has a credit balance after revenues and expenses have been closed into it, the closing entry for Income Summary will include a a. debit to the retained earnings account. b. debit ... . c. credit to the retained earnings account. d. credit to the owner's dividends account.

Last Answer : c. credit to the retained earnings account.

Premium received on issue of shares is shown on-----------. A. asset side of the balance sheet B. liability side of the balance sheet C. credit side of the P&L a/c. D. debit side of the P & L a/c

Description : Premium received on issue of shares is shown on-----------. A. asset side of the balance sheet B. liability side of the balance sheet C. credit side of the P&L a/c. D. debit side of the P & L a/c

Last Answer : B. liability side of the balance sheet

How is a debit card with a checking account different from this >PASS card?

Description : How is a debit card with a checking account different from this >PASS card?

Last Answer : It's like a cross between a checking account and a gift card. With a pre-paid card, your parents deposit money onto the card, and can reload more money as you spend it down. In that way it's ... costs $50, your card will be declined and you will have to find another way to pay for your purchase.

Bank charges debited by Bank increase bank balance as per Pass Book.

Description : Bank charges debited by Bank increase bank balance as per Pass Book.

Last Answer : State whether the following statement are True or False with reason : Bank charges debited by Bank increase bank balance as per Pass Book.

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 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.

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) 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.

(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 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 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.

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.

What is meant by Bank Overdraft?

Description : What is meant by Bank Overdraft?

Last Answer : What is meant by Bank Overdraft?

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 ?

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

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

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

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

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

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

(i) Excess of a total of debit side over a total of credit side of Cash Book, Bank column.

Description : (i) Excess of a total of debit side over a total of credit side of Cash Book, Bank column.

Last Answer : Give one word/term/phrase which can substitute each of the following statements: (i) Excess of a ... balance of the bank column of the Cash Book.

Which of the following statements about normal salt and water balance are true? A. The products of catabolism may be excreted by as little as 300 ml. of urine per day. B. The lungs represent the primary source of insensible water loss. C. The normal daily insensible water loss is 600 to 900 ml. D. Excessive cell catabolism causes significant loss of total body water. E. In normal humans, urine represents the greatest source of daily water loss.

Description : Which of the following statements about normal salt and water balance are true? A. The products of catabolism may be excreted by as little as 300 ml. of urine per day. B. The lungs represent ... of total body water. E. In normal humans, urine represents the greatest source of daily water loss.

Last Answer : Answer: CE DISCUSSION: The skin is the primary source of insensible water loss. Including losses from the lungs, this averages 600 to 900 ml. per day. Catabolism liberates water of solution. In ... still excrete a minimum of 500 to 800 ml. of urine per day to expel the products of catabolism