Explain the term ‘favourable balance as per the pass book’.

Asked by Topperlearning User | 18th Jul, 2016, 04:09: PM

Expert Answer:

Favourable balance (credit balance) as per the pass book means amount deposited in the bank. It is an asset to an account holder. It indicates an excess of amount deposited over withdrawing i.e., the total of the credit side is in excess than the total of the debit side of the passbook.

Answered by  | 18th Jul, 2016, 06:09: PM