Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 37 - No. 12)
What impact does a standing order have on the bank account?
It increases the bank account
It has no impact on the bank account
It decreases the bank account
It depends on the purpose of the standing order
Explanation
A standing order is a recurring payment, thus it will decrease the balance in the bank account.
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