wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Answer in one sentence only.

What is Bank Overdraft?

Open in App
Solution

Bank overdraft is the amount withdrawn by a business from a bank in excess of deposits up to a prescribed limit. This facility is provided to the current account holders for which the bank charges a certain amount. Bank overdraft is also known as credit balance as per the Cash Book and debit balance as per the Pass Book.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Introduction to e-Business
BUSINESS STUDIES
Watch in App
Join BYJU'S Learning Program
CrossIcon