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what is credit balance of bank define briefly???
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Answer Posted / matt acct
well...a credit bank balance in accounting terminology
menas that the person in whose account this belongs to is
under an obligation to pay the bank back the entitlement of
such balance. This money has been owed to the account
holder by the bank and must be repaid. It is found under
the liabilities section of any Statement of Financial
Position.
| Is This Answer Correct ? | 12 Yes | 3 No |
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