A personal account having credit balance means ______.

amount owed to him

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amount owed by him

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amount owned by him

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amount due by him

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Solution

The correct option is A amount owed to him
A personal account credit balance in non-business terms, is money owed to you by the bank, i.e. the bank is your creditor which means you have money in the bank. When credit side is greater that the debit side the difference is called "credit balance". So, if credit side > debit side, it is a credit balance.

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