On the bank's accounting records, customers' accounts are normally shown as a(n):
A) revenue.
B) liability.
C) asset.
D) expenses.

Name: On the bank's accounting records, customers' accounts are normally shown as a(n): A) revenue. B) liability. C) asset. D) expenses.
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Question

Quizplus · Accepted Answer

Customers' accounts represent the bank's obligation to fulfill withdrawals and other transactions, therefore they are classified as liabilities on the bank's accounting records.

On the Bank's Accounting Records, Customers' Accounts Are Normally Shown