CIMA F1 Question Answer
Which TWO of the following are features of a bank overdraft?
A fixed amount of interest is determined for the period of the overdraft
Repayments are scheduled in advance
The amount off overdraft utilised will fluctuate according to the needs off the borrowing entity.
The bank cannot demand repayment of the overdraft before the end of the agreed period.
Interest is charged on the balance outstanding.
TESTED 01 Jan 2026
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