DEFINITION
Credit Balance

"Credit balance": 1. Financial accounting. This is either a liability or capital within the balance sheet, or revenue within the profit and loss account (or income statement). 2. Banking. In banking a credit balance - in the bank's records - is one which stands in favour of the customer. The bank owes money to the customer. (Contrasted with a debit balance in the bank's records. Being a balance standing in favour of the bank.)
Loading conversations.
Similar or Related Terms
Statistics
353
Characters
72
Words
67.76
Flesch Reading Ease
6.8
Flesch Kincaid Grade