Credit balance in bank pass book means what? Generally this question has multiple options
A. Overdraft
B. Bank Balance
C. Balance as per Cash book
D. Total of Bank A/c.
The correct answer is B. Bank Balance
In banking terms you can say Credit in deposit to bank account and Debit is Withdrawal amount.
so if withrawal is less the the deposit you will have money left over in your account. which can be withdrawn.
so its the bank balance
Overdraft is a facility provided by bank when you withrawals can be more that the deposits.. It’s like a loan.
therefore for the question
Credit balance in bank pass book means_____?
Answer is Bank balance