Accounting for IGCSE & O level - Final Statements (Section 8 - No. 45)
What does a debit balance in the bank account represent?
The company owes the bank money
The company has money in the bank
A credit to the profit and loss account
The company must pay the bank for services rendered.
स्पष्टीकरण
A debit balance in the bank account represents cash held by the company.