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MacroEconomics: comparing your personal or household balance sheet with the balance sheet of your bank?


Suppose you were comparing your personal or household balance sheet with the balance sheet of your bank. Where on both balance sheets would your checking account be listed?


A. The checking account is only an asset for the bank.
B. The checking account is an asset for both you and the bank.
C. The checking account is only a liability for the bank.
D. The checking account is an asset for you, but a liability for the bank.
E. The checking account is a liability for both you and the bank.

538 day(s) ago

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Answers (2)

janetmok 		Chris is right, the answer is D. In your personal balance sheet, a checking account is an Asset. But to a bank, your checking account is a liability because it is your money and when you withdraw from it, the banks must pay it out, therefore it is a liability.

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TaxesandScotch 		D I think

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