If You Have a Checking Account at a Local Bank

question 104

Multiple Choice

If you have a checking account at a local bank, your bank account there is

• A) an asset to the bank and an asset to you.
• B) a liability of the bank and a liability of yours.
• C) a liability of the bank and an asset to you.
• D) an asset to the bank and a liability of yours.

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Definitions:

Abundance of Resources

A situation where there is more than enough resources, such as time, money, and materials, available to meet the needs or objectives of a project or organization.

New Regulations

Refers to recently implemented laws or rules established by governing bodies to impose standards and guide the behavior of individuals or organizations.

Inadequate Research and Development

A situation where insufficient investment or attention is given to research and development efforts, potentially hindering innovation and long-term competitiveness.

Obsolete Technologies

Technologies that are no longer in use or have been replaced by newer innovations.