A. A current liability
B. An overdrawn account
C. Grade to a newly opened account
D. Repayable after more than a year
Correct Answer:
Option A – A current liability
Explanation
An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero. In this situation the account is said to be “overdrawn
Current liabilities are a company’s debts or obligations that are due within one year or within a normal operating cycle, example is overdraft
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