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 |
Expand ------FRL
Are you worrying about preparation for accounts interview.Dont worry I prepared 6 sets of question papers with answer books to help you in getting a job and help the employee to get promotion with good hike in remuneration and position.I am sincerly waiting for the needy
What is Asset Management?
1 Answers IBM, Infosys, Northern Trust,
Define Drawee
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
how enter service bill in the tally and what is the process of service bill. aganst service charge @ 10.3%, sercharge 2% cess 1%
Expand ________GATE
im preparing for the sbi clerical post please send me the solved questions.
A crushing unit blasted 1650Mts in the month of March 2009. The rate of Royalty to be paid is rs 35/- Per MT. Advance royalty was paid rs 250000/- on 1-3-2009. pass journal entries from the advance royalty
what is closing stock & gross profit? purchase is 1387508 rs & sale is1311980rs
when is real ,nominal, & personal a/c's used
WHAT DO U MEAN BY REPO RATE???
18 Answers LN, Punjab National Bank, State Bank Of India SBI,