Question

what is bank overdraft

Answer 1

A bank overdraft is flexible borrowing facility on a bank current account which is repayable on demand. A bank overdraft does not actually result in cash flowing into a business. ... It depends on what the bank balance is day to day. Interest is calculated daily, usually at a high rate, on theoverdrawn balance


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Answer 2

Answer:

Bank overdraft is the excess of withdrawal over deposits and is considered a liability to an account holder.

Explanation: