MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Classifying Items of Financial Statements

The opening b...

Question

The opening balance of bank is shown in which side of the bank account?

A

Debit side

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

B

Credit side

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

C

No impact

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

D

None of these

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

Open in App

Solution

The correct option is A
Debit side

The opening balance of bank is shown in debit side of the bank account.

Suggest Corrections

thumbs-up

0

Similar questions

Q. The opening balance on the debit side of the bank column in Cash Book indicates ___________.

Q. Bank overdraft is shown on the _______ side of trial balance.

Q. Entry in debit side of bank pass book implies ____________.

Q. If debit side of a bank account is greater than credit side, it represents?

Q. Which item is shown on the debit side of a trial balance?

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Introduction to Cash Flow Statement

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Classifying Items of Financial Statements

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon