Question

bank overdraft is current liability or not

Answer 1

Current Liabilities for Companies. Accounts payable - This is money owed to suppliers. Accrued expenses - These are monies due to a third party but not yet payable; for example, wages payable. ... Bank account overdrafts - These are short term advances made by the bank for overdrafts.

Answer 2

hI friends

overdraft is also a credit facility granted by bank. a customer who has a current account with the bank is allowed to withdraw more than the amount of credit balance in his account. it is a temporary arrangement. overdraft facility with a specified limit may be allowed either on the security of assets of assets or on. personal security, or both.


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