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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Explain the difference between how you would characterize bank deposits and loans as assets and liabilities on your own personal balance sheet and how a bank would characterize deposits and loans as assets and liabilities on its balance sheet.

To determine

The difference between assets and liabilities in bank sheet and in personal balance sheet is to be determined.

Explanation

With the help of the bank balance sheet, the investors were came to know about the amount they have debited and credited during the time. With the help of this, they can reduce their liabilities and increase the assets. These types of certain changes were made in order to make the next year balance sheet more efficient.

For the bank, my deposits are considered as liabilities and my loans as assets because it would make or benefit money to them...

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