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Question
________ is a copy of the clients account in the bank's ledger.
________ is a copy of the clients account in the bank's ledger.
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Solution
The correct option is C Pass book
The pass book is just a copy of the account statement as maintained by the bank. So if the pass book reflects a debit balance it means that the account is in the nature of a debtor/receivable for the bank and it would be the opposite for the account holder. From his point of view he would be having a negative balance in his account and hence a liability/payable.
The pass book is just a copy of the account statement as maintained by the bank. So if the pass book reflects a debit balance it means that the account is in the nature of a debtor/receivable for the bank and it would be the opposite for the account holder. From his point of view he would be having a negative balance in his account and hence a liability/payable.
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