Principal value is the maximum balance from 10th of a month to the last date of the month.

True

No worries! We‘ve got your back. Try BYJU‘S free classes today!

False

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is B
False

Principal value is taken as the minimum balance from 10th of a month to the last date of the month.

This is a standard followed by all the banks in India.

Suggest Corrections

Similar questions

The amount of provision provided for a settlement beyond 12 months from balance sheet date are shown under _______

Trade payables to be settled beyond 12 months from the date of balance sheet or beyond the operating cycle are classified under _____

The last Wednesday of February 2006 fell on which date ?

Statements

I : The first Sunday of that month fell on 5th.

II : The last day of that month was Friday

Join BYJU'S Learning Program