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5 Cards in this Set
- Front
- Back
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What are bank transactions? |
Bank transactions are transactions which involve settlement by cheque. |
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What is the bank statement? |
Bank Statement is a copy of the business account in the bank's books and sends the document to the business. |
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Give 3 types of cheques: |
Types of cheques: 1) Open cheque 2) Crossed cheques 3) Banker's cheque |
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What does a debit balance in the bank account represents? |
a debit balance in the bank account represents Cash at Bank. |
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What does a credit balance in the bank account represents? |
A credit balance in the bank account represents Bank Overdraft. |
