Download App

Business Services-2 — OCM STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceOCMBusiness Services-22 Marks
Question
What is Overdraft ?
✓

Answer

  • Businessmen are given facility to withdraw the amount more than the balance in current account.
  • This is called overdraft. Normally the period of overdraft is short.
  • When it is fixed it is known as cash credit. Businessman gets overdraft on his own guarantee.
  • Bank recovers interest only on the amount used not on the entire amount sanctioned.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "2 Marks Each" from Business Services-2→Business Services-2 — all question types→OCM STD 11 Commerce question papers→Gujarat Board STD 11 Commerce question papers→Gujarat Board question paper generator→

Similar questions

"The development of banking services is rapidly increasing, and the scope of its various services is also expanding." In this context, explain the methods through which money can be transferred from one account to another.
→
Which social responsibility should business unit perform towards government ?
→
What is Telephonic Marketing?
→
How is unlimited liability harmful in Sole proprietorship?
→
“ Due to activities commerce world has become a market. “ – Explain.
→
How the interest of debenture-holder is protected ?
→
Give two examples of non-financial transactions that occur in e-banking.
→
"Our city is industrially backward. As a citizen, prepare a comprehensive report on the initiatives the government should take through the public sector."
→
“Service does not mean slavery. “ – Discuss.
→
Which details are mentioned in the order placed by the importer to the exporter?
→