When money is withdrawn from bank, the bank will ____ the customer account

Credit

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Debit

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Both A & B

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None of the above

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Solution

The correct option is B
Debit

When money is withdrawn from bank, the bank will debit the customer account.

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Similar questions

Q. When money is withdrawn from the bank, the bank_________the account of the customer.

Q. The bank statement reports a credit transfer of Rs.

4000

from a customer. Accounting entries for this is _____________________.

15. Consider the following statements,

1] TheUnified Payments Interface (UPI)will enable money transfers – both ‘Push’ and ‘Pull’ through smart phones.

2] UPI allows a customer to pay directly from a bank account to different merchants, both online and offline, without the hassle of typing credit card details, IFSC code, or net banking/wallet passwords.

Which of the following statements is/are correct?

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

Q. Bank account is debited when a bill is sent to the bank for collection.

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When money is withdrawn from bank, the bank will ____ the customer account

The correct option is B Debit When money is withdrawn from bank, the bank will debit the customer account.

The correct option is B
Debit

When money is withdrawn from bank, the bank will debit the customer account.