CBSE Class 11-commerce Answered
Explain the term ‘favourable balance
as per the pass book’.
Asked by Topperlearning User | 18 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 | 18 Jul, 2016, 06:09: PM
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