Accounting for IGCSE & O level - Final Statements (Section 13 - No. 9)
What does a 'bank overdraft' represent on a statement of financial position?
Cash held by the bank
The business owing money to the bank
Money owed by customers.
The business has no liabilities.
स्पष्टीकरण
A bank overdraft represents an amount that a company owes to the bank.