Suppose You Borrow $1,000 to Purchase a Car

question 11

Multiple Choice

Suppose you borrow $1,000 to purchase a car.Which of the following correctly represents the changes in your personal balance sheet after the bank lends the money,but before you spend it?

• A)Assets: loan,+$1,000;Liabilities and net worth: checking deposit,+$1,000
• B)Assets: loan,-$1,000,checking deposit,+$1,000;Liabilities and net worth: no change
• C)Assets: loan,+$1,000,checking deposit,-$1,000;Liabilities and net worth: no change
• D)Assets: checking deposit,+$1,000;Liabilities and net worth: loan,+$1,000
• E)Assets: checking deposit,+$1,000;Liabilities and net worth: loan,-$1,000

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Definitions:

Risk for Injury

The potential or likelihood of harm or damage to one's health or physical well-being.

Isometric Exercises

Physical exercises that involve muscle contraction without any visible movement in the angle of the joint; typically used to increase muscle strength.

Fractured Ulna

A break in the ulna bone of the forearm, which can result from trauma or injury and affect arm mobility and function.

Spinal Cord Injury

Damage to the spinal cord that results in a loss of function such as mobility or feeling below the site of the injury.