The Major Assets on a Bank's Balance Sheet Are Its

question 247

Multiple Choice

The major assets on a bank's balance sheet are its

• A)checking and savings account deposits.
• B)loans,and checking and savings account deposits.
• C)reserves,loans,and holdings of securities.
• D)reserves,checking and savings account deposits.
• E)reserves,loans,and checking account deposits.

Identify the various types of adjusting entries and their impact on financial statements.

Recognize the principles of revenue recognition and the matching principle as foundations of accrual accounting.

Grasp how deferred revenues and expenses are treated within the accounting cycle.

Know how adjusting entries affect both income statement and balance sheet accounts.