Home › CBSE Class 11 (Commerce) › Accountancy › Bank Reconciliation Statement › Normally, a firm's cash book bank column shows a…
Normally, a firm's cash book bank column shows a debit balance. The passbook then shows what?
ACredit balance
BDebit balance
CNo balance
DOverdraft
Answer & Solution
Correct answer: A. Credit balance
The same funds are an asset for the firm but a liability for the bank, so the sides are opposite.
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