From an Accounting Point of View, a Checking Account Should

question 159

Multiple Choice

From an accounting point of view, a checking account should be considered part of a bank's

• A) assets.
• B) liabilities.
• C) profits.
• D) reserves.

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Definitions:

Henry George

A 19th-century American economist and writer known for his belief that individuals should own the value they produce but that land and natural resources should belong to all (the single tax theory).

Single Tax

Concept of taxing only landowners as a remedy for poverty, promulgated by HenryGeorge in Progress and Poverty (1879).

Inequality

The state of being unequal, especially in terms of rights, status, and opportunities among different groups of people in society.

Andrew Carnegie

A Scottish-American industrialist and philanthropist who led the expansion of the American steel industry in the late 19th century and is often identified as one of the richest people in history.