Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 12 - No. 19)
What does it mean, if the balance of bank account is a debit balance?
The business has funds in its account.
The business has no funds in its account.
The business is overdrawn.
The bank owes the business money.
Explanation
A debit balance in a bank account means the business has funds in its account.
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