MP Board · Class 11 · Accountancy · Bank Reconciliation StatementFavorable balance as per Passbook means:
Step-by-Step Solution
A favorable balance as per passbook means a credit balance, representing the amount deposited by the customer with the bank.
Detailed Options Breakdown
Option : Debit Balance
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Bank Reconciliation Statement.
Option 1: Credit Balance (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 2: Overdraft Balance
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Bank Reconciliation Statement.
Option 3: Net Loss
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Bank Reconciliation Statement.
💡 Study Guide: This question tests core syllabus concepts from Bank Reconciliation Statement. For formulas, key summaries, and mock exam reference guides, read the full Bank Reconciliation Statement Revision Notes.