Question: What is Bank Overdraft? 1 . A document used by a company's accounts payable department containing the supporting documents for an invoice. 2 . A

What is Bank Overdraft?
1. A document used by a company's accounts payable department containing the supporting documents for an invoice.
2. A negotiable instrument where payment is guaranteed by the issuing bank.
3. A negotiable instrument similar to a bill of exchange.
4. A line of credit that covers your transactions if your bank account balance drops below zero.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!