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Who can get an overdraft from a bank ?...

Who can get an overdraft from a bank ?

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An overdraft is an extension of credit from a lending institution that is granted when an account reaches zero. The overdraft allows the account holder to continue withdrawing money even when the account has no funds in it or has insufficient funds to cover the amount of the withdrawal.
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On 1st May 2016 , cash book bank overdraft balance was Rs. 2,000 . On depositing Rs 10,000 into bank and giving a cheque of Rs 7,200 for rent , the balance will be :

Dealing With Overdraft

On 31st March, 2019, Cash Book of a merchant showed bank overdraft of Rs. 1,72,985. On comparing the Cash Book with Bank Statement, following discrepancies were noted. (i) Cheques issued for Rs. 60,000 were not presented in the bank till 7th April 2019 (ii) Cheques amounting to Rs.75,000 were not presented in the bank but were not collected (iii) A cheque of Rs. 15,000 received from Mahesh Chand and deposited in the bank was dishonoured but the non-payment advice was not received from the bank till 1st April, 2019. (iv) Rs. 1,50,000 being the proceeds of a bill receivable collected appared in the Pass Book but not in the Cash Book , (v) Bank charges Rs. 1,500 and intrest overdraft Rs. 8,500 appeared in the Pass Book but not in the Cash Book (vi) Overdraft b alance as per Cash Book of Rs. 500 pm 28thh Feburay, 2019 was wrongly carried forward as debit balance. The error was noted at the time of preparing the Bank Reconciliation Statement as on 31st March, 2019 Prepare Bank Reconciliation Statement

Prepare bank reconciliation statement. (i) Overdraft shown as per cash book on December 31, 2017 10,000. (ii) Bank charges for the above period also debited in the passbook 100. (iii) Interest on overdraft for six months ending December 31, 2017380 debited in the passbook. (iv) Cheques issued but not incashed prior to December 31, 2017 amounted to 2,150. (v) Interest on Investment collected by the bank and credited in the passbook 600. (vi) Cheques paid into bank but not cleared before December, 31, 2017 were 1,100

SUBHASH DEY-BUSINESS SERVICES -EXERCISE
  1. Under which of the following post a receipt is given by post office:

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  2. Which of the following can never dishonoured ?

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  3. Which of the following service of Bank permits withdrawal of money mor...

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  4. Which institute is called a Debtor as well as Creditor ?

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  5. To which insurance principle of Indemnity is not applicable ?

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  6. At what time the interest must be present in case of life insurance ?

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  7. Give full form of ATM.

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  8. What are the recent modes of communication ?

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  9. Which sevice provides protection from risk ?

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  10. Give two functions of e-banking.

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  11. Who can get an overdraft from a bank ?

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  12. Given one point of difference between private sector banks and public ...

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  13. To which insurance principle of Indemnity is not applicable ?

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  14. what is Hull insurance?

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  15. "The cause for loss must be related to the purpose of insurance . "whi...

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  16. "The insured must take care of his goods and other, for which insuranc...

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  17. "The insured must have an Interest in the subject matter of insurance....

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  18. Name the central bank of our country and which is the largest commerci...

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  19. "It is binding on both the parties of insurance to disclose all mater...

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  20. The insured should not be allowed to make any profit by selling damage...

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