WAEC Accounting 2024 Objective — Question 27
Question 27 of 50 from the West African Examinations Council (WAEC) Accounting 2024 Objective paper, with the correct answer and a full explanation.
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A debit balance of D61,000 on a customer's bank statement means that
- A. the customer's bank balance is D61,000
- B. the customer owes the bank D61,000Correct
- C. a customer's cheque of D61,000 is yet to be cleared by the bank
- D. a direct deposit of D61,000 was made by a customer
Explanation
From the bank's point of view, a customer's account should normally show a credit balance; a debit balance means the customer owes the bank money.
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