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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