MCQs > Finance & Management > Retail Banking Industry And Processes > Why do the words Debit and Credit have meanings on a bank statement different from the ones which they have in normal accounting ( i. e. a debit is actually a withdrawal, a credit a deposit)?

Retail Banking Industry And Processes MCQs

Why do the words Debit and Credit have meanings on a bank statement different from the ones which they have in normal accounting ( i. e. a debit is actually a withdrawal, a credit a deposit)?

Answer

Correct Answer: The bank statement is created from the bank's perspective, not the customer's

Explanation:

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