What is overdraft protection?A.A situation in which a customer gets too much cash from an automatic teller machineB.A service provided by the bank that automatically moves money from one account to another to keep the balance above $0C.A situation in which a check is returned to the customer for nonpaymentD.A service provided by the bank to provide monthly statements of the current balance in an accountSUBMITarrow_backPREVIOUS

Define an overdraft facility.*1 pointA loan attached to an asset such as a houseA bank account that allows a business to withdraw more money than it has saved in the accountA situation whereby a business pays an amount over and above the required loan repaymentA temporary account that is opened for a brief period of time

What do you understand by bank overdraft ?

Mia is opening her first checking account, and she's trying to decide whether she should sign up for overdraft protection. Which friend's advice is MOST accurate?*1 pointJordan says, "With overdraft protection, you never have to worry about how much money is in your account."Donnie says, "Yes, you'll have to pay a fee for each overdraft, but you DON'T have to pay the bank back the money you overdrew the account by."Frank says, "Overdraft protection may seem handy if you have an emergency (like needing gas to get to work) but you might pay lots of overdraft fees if you don't keep track of your account closely."Alex says, "If you say "No" to overdraft protection, and you TRY to withdraw more than what's in your account, the bank will contact you to see if you want them to cover it."

Overapplied overhead represents a (debit/credit) balance in the Manufacturing overhead account that results from applied overhead in excess of actual overhead costs.

When customer’s account overdrawn or when customer has taken loan from banker, then the customera.Creditorb.Bailorc.Debtord.Agen