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Bank overdraft is a Liability while bank balance is anAsset. Do you agree?

Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/yes-749457" style="font-weight:bold;" target="_blank" title="Click to know more about YES">YES</a>. Bank overdraft is the <a href="https://interviewquestions.tuteehub.com/tag/amount-374803" style="font-weight:bold;" target="_blank" title="Click to know more about AMOUNT">AMOUNT</a> payable by the bank since the amount <a href="https://interviewquestions.tuteehub.com/tag/drawn-2062388" style="font-weight:bold;" target="_blank" title="Click to know more about DRAWN">DRAWN</a> is more than the balance held. Bank balance is the amount owned by the firm that is <a href="https://interviewquestions.tuteehub.com/tag/lying-1081801" style="font-weight:bold;" target="_blank" title="Click to know more about LYING">LYING</a> deposited in the bank, thus, it is an asset.</body></html>


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