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Question

Credit balance of bank account in cash book shows ______________.


A
Overdraft
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B
Cash deposited in our bank
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C
Cash withdrawn from bank
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D
None of the above
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Solution

The correct option is B Cash deposited in our bank
The debit balance as per the cash book means the balance of deposits held at the bank. Such a balance will be a credit balance as per the passbook. Such a balance exists when the deposits made by the firm are more than its withdrawals.

Accountancy

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