The amount of money a drawer owes a bank after it has paid a check despite the drawer's account having insufficient funds is termed ________.

Question

Quizplus · Accepted Answer

An overdraft occurs when a bank allows a customer to withdraw more money than is available in their account, resulting in a negative balance. The amount owed by the drawer in this scenario is commonly referred to as an overdraft. Choices B, C, and D are not related to this particular banking transaction.

The Amount of Money a Drawer Owes a Bank After