account-balance

Vocabulary Word

Definition

'Account balance' is the amount of money in a financial repository, such as a checking or savings account, at any given moment. It's like checking your wallet to see how much money you have left.

Examples in Different Contexts

In retail banking, 'account balance' shows the amount of money available in an account. A customer service representative might inform, 'Your current account balance is $3,250.'

Practice Scenarios

Accounting

Scenario:

The financial statement from last quarter seems to have some discrepancies we need to investigate.

Response:

Oh really? Then we should cross-check the account balance of all major expenditures.

Tech

Scenario:

We're rolling out a new user interface update that should help our users better understand their finances at a glance.

Response:

That's cool. Will the account balance be clearly displayed on the home screen?