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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
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 Accounting General interview questions  Accounting General Interview Questions (2810)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4363)
Question
What is he difference between OD account and CC account
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
OD - OVERDRAFT

CC - CASH CREDIT

BOTH ARE BANKING FACILITY, YOU CAN MAKE USE OF IT

OD - YOU CAN GET AGAINST YOUR DEPOSIT AND ASSETS.

CC - YOU CAN GET ONLY ON YOUR ASSETS

DEPENDS UPON YOUR REQUIREMENT AND YOUR HOLDINGS (SECURITIES)
YOU CAN GET IT FROM THE BANKERS.

ANOTHER ONE IS THERE CALLED TOD - TEMPORARY OVERDRAFT
YOU CAN GET THIS WITH MANAGERS POWER FOR A DAY OR TWO DAYS
 
Is This Answer Correct ?    125 Yes 23 No
Raja
 
Answer
# 2
OD - OVERDRAFT

CC - CASH CREDIT

OD - Get our Bank Deposit(FDR) and Current Assets(Closing
stock and Sundry Debtors)

CC - Get only our Current Assets(Closing stock and Sundry
Debtors)its based on our DP ( Drawin power )
 
Is This Answer Correct ?    61 Yes 20 No
Jagan
 
 
 
Answer
# 3
cc cash credit are only assest
but od are deposit and asseset
 
Is This Answer Correct ?    42 Yes 8 No
Md Mishra
 
Answer
# 4
dear sir i happy with this bank. 
Is This Answer Correct ?    4 Yes 11 No
Chenna Gangadhar
 
Answer
# 5
in case no balance in account the adjust check to trader is called od account 
Is This Answer Correct ?    3 Yes 12 No
G,satish
 

 
 
 
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how are the 3 financial statements related to each other?   1
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What will be the entry for transfer of fixed deposit amount to their current a/c. (ie. if we hav a FD of Rs.600000 with the bank, we need to close the FD and transfer the amount to the current Account. kindly provide me the entry for this.   2
 
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