Question

The difference between the debit and credit side of an account is called ............., Fill in the blank.

Answer 1

balance of account

The difference between the debit and credit side of an account is called balance of account .

Answer 2

The difference between the debit and credit side of an account is called balance of account.

It is the rate of cash in the financial repository like checking account or savings account, at the given moment.  

Also, it can refer to the overall amount of cash actually owned to the third party like credit card firm, mortgage banker, utility company or other kind of creditor or lender.