Which of the Following Is an Asset of a Bank

question 61

Multiple Choice

Which of the following is an asset of a bank and a liability for its customers?

• A)deposits of its customers and loans to its customers
• B)deposits of its customers but not loans to its customers
• C)loans to its customers but not the deposits of its customers
• D)neither the deposits of its customers nor the loans to its customers

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Definitions:

Remedy

A means of legal reparation, which can include monetary compensation, restorative justice, or specific performance in order to resolve a breach of the law.

Breached a Contract

The failure to perform any term of a contract, written or verbal, without a legitimate legal excuse, which may result in legal action against the party in breach.

Implied Warranties

Warranties not explicitly stated but presumed by law to provide certain assurances regarding the quality or functionality of a product.

Express Warranties

Explicit promises made by a seller to a buyer regarding the quality or nature of a product.