Bank Overdraf is an Asset or a liability for a Bank?
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Answer Posted / rakesh panchal
Bank overdraft is a liability for us and is asset for bank.
It is liability for us since we have to repay Bank
Overdraft amount with interest to bank. Bank Overdraft will
reflect in our balance sheet under Secured Loans in balance
sheet on liability side.
It is asset for bank since bank is going to received the
amount with interest. Bank Overdraft will reflect in there
balance sheet under current assets.
| Is This Answer Correct ? | 125 Yes | 9 No |
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