Questions
Single choice
How is Bank (Overdraft) classified on a Balance Sheet?
Options
A.a. Current Liability
B.b. Non-Current Asset
C.c. Current Asset
D.d. Non-Current Liability
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Step-by-Step Analysis
Question restatement: How is Bank (Overdraft) classified on a Balance Sheet?
Answer options:
- a. Current Liability
- b. Non-Current Asset
- c. Current Asset
- d. Non-Current Liability
Option a: Current Liability. This is the correct way to classify a bank overdraft in most accounting frameworks because it represents an o......Login to view full explanationLog in for full answers
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