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Bank Overdraf is an Asset or a liability for a Bank?
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Answer Posted / simran
Bank Overdraft is a liability for us
because when we over withdrew money from bank it is our
liability to pay it back.
so it is shown on the liability side in our balance sheet.
And it is an asset for bank because they will received the
total amount along with interest from us.
it will be shown on asset side in balance sheet of bank.
| Is This Answer Correct ? | 23 Yes | 4 No |
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