JAMB - Commerce (2018 - No. 18)
Bank overdraft as a short term source of fund is
A current liability
An overdrawn account
Grade to a newly opened account
Repayable after more than a year
स्पष्टीकरण
An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero. In this situation the account is said to be "overdrawn
Current liabilities are a company's debts or obligations that are due within one year or within a normal operating cycle, example is overdraft