Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 10 - No. 11)
What does it mean, if the total debits are less than the total credits in the cash book?
The business has lost cash in hand on its premises.
The business has no cash in hand.
The business is overdrawn.
The business has a bank balance.
Explanation
When the total debits are less than total credits, it means the business has a bank balance (it is overdrawn).
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