The following question are based on the following changes in the balance sheet of Nowhere National Bank.

-Which letter best indicates the balance sheet of Nowhere National Bank at the instant a new deposit is made?
A) a
B) b
C) c
D) d
E) e

Question

The following question are based on the following changes in the balance sheet of Nowhere National Bank.

-Which letter best indicates the balance sheet of Nowhere National Bank at the instant a new deposit is made?
A) a 
B) b 
C) c 
D) d 
E) e

Quizplus · Accepted Answer

The balance sheet of a bank reflects its financial position at a specific point in time. When a new deposit is made, it immediately affects the bank's balance sheet by increasing both the assets (cash or reserves) and liabilities (customer deposits).

The Following Question Are Based on the Following Changes in the Balance