Do you know about the ‘account balance’ ? It is important for us to know about the account balance because it is related to the financial. Without knowing about account balance it is hard to manage our personal finance. Maybe you think you really understand about account balance but is it true? Let’s read this definition about ‘account balance’
WHAT IS ACCOUNT BALANCE
1. The amount of money in a financial repository such as a checking account at any given moment
2. The total amount of money owed to a third party such as a credit card company, utility company, mortgage banker or other type of lender or creditor.
The account balance will always be the net amount after factoring in all debits and credits.
Reference :- Investopedia
How about that? Do you have any definition about account balance? Let’s share and discuss about this as it could give knowledge to all yourfinancialblog readers .
p/s :- This is the old article but I’m rewritten it as new.