Which of the Following Are Reported as Liabilities on a Bank's

question 34

Multiple Choice

Which of the following are reported as liabilities on a bank's balance sheet?

• A)discount loans
• B)cash items in the process of collection
• C)state government securities
• D)all of the above
• E)only B and C of the above

---

Definitions:

Classified Balance Sheet

A balance sheet that categorizes assets as current assets or plant and equipment and groups liabilities as current or long-term liabilities.

Creditors

Individuals or institutions that lend money or extend credit to others.

Information

Information refers to data that is processed, organized, and structured or presented in a given context to make it meaningful and useful.

Credit Memorandum

Increase in depositor’s balance.