A. Debit balance
B. Credit balance
C. Bank overdraft
D. None of these
Brief facts about this MCQs:
An overdraft means when there is not enough money in an account to cover a transaction, but the bank allows the transaction anyway. Moreover, it’s an extension of credit from the financial institution that is granted when an account reaches zero. The overdraft allows the account holder to continue withdrawing money even when the account has no funds in it.
Also Read: Receipt side of Cash Book