Bank Overdraf is an Asset or a liability for a Bank?
Answers were Sorted based on User's Feedback
Answer / sushant singh
Bank overdraft is an asset for the bank.
it is a liability for us.
Is This Answer Correct ? | 3 Yes | 0 No |
Answer / m.saraswathi
Bank O/D is an asset to the bank & liability to the a/c
Holder
Is This Answer Correct ? | 3 Yes | 0 No |
Answer / prasanta
when a customer withdrawing more money than the deposit
amount then it is called overdraft and the customer has to
pay this amount along with the interest to the bank.That's
why it is a liability for the customer whereas it is
regarded as an asset for the Bank.
Is This Answer Correct ? | 3 Yes | 1 No |
Answer / satyaki_raju@yahoo.com
Mr seshadri and Guest why dont you both understand the
question before answering
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / vijendra
Bank overdraft is asset for bank and liablity for business.
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / yadagiri
Why don't we think in a different angle? i.e. is there any
chance that Balance Sheet of a Bank contains 'bank OD' on
liabilities side? In that case it is certainly a LIABILITY
for the bank in whose B/S it is shown.
Other wise the answer given by most of our friends is correct.
I have given this answer keeping in view that question is
little bit ambiguous.
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / sanad jasoria
definitely bank overdraft is laibility for us and assets
for bank.
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / suraj
bank o.d. is an asset for bank and for us liability thats it
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / sk
Bank Overdraft is an asset to the Bank And a Liabilitiy to
the asset holder, It excess of payments over receipts in
the Bank A/c of an Individual.
Is This Answer Correct ? | 1 Yes | 0 No |
what is the main difference between nse & bse operations
Choose the right answer When salaries for the month of March paid in April which was already taken into last years account,we have to debit 1.Salaries account 2.salaries payable 3.Employee account
who are a account
what is mean by credit purchase?
what is ADVANCE,DECLINE ratio. also explain how it helps the investor to predict the stock market movements?
what is a contract note?
What is Gross Income?
My brother studying B.Com(Comp)third year from Osmania University. He want to be settled in Accounts(Taxetion). Which subjects he have perfect to reach is goal. plz give ur good suggestions...
How the sub ledgers(AP, AR) integrate with GL liability and receivable
What does IMAP stand for
how to calculate BEP in this problem? Sales Rs.3,00,000 Fixed Exp. Rs. 75,000 Direct Material.Rs.1,00,000 Direct Labour Rs.60,000 Direct exp. RSs.40,000
give journal entries for the following jan-1 started business with cash 50000 & loan 80000