Suppose Gloria Borrows $1,000 to Purchase a Car

question 56

Multiple Choice

Suppose Gloria borrows $1,000 to purchase a car.Which of the following represents the changes in Gloria's personal balance sheet after the bank lends her the money but before she spends it?  

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

---

Definitions:

Harassment

Unwanted and unwelcoming behavior that includes bullying, discrimination, and sexual harassment, creating a hostile environment for the victim.

Unequal Childhoods

The variations in childhood experiences and opportunities due to socioeconomic, racial, and cultural differences, impacting development and life trajectories.

Annette Laureau

A sociologist known for her work in family sociology, social class, and the transmission of inequality through parenting practices.

Equity

The principle of fairness in treatment and opportunity, which seeks to address disparities in social, economic, and political spheres.