question archive On the bank's accounting records, customers' accounts are normally shown as debit balances expenses an asset a liability
On the bank's accounting records, customers' accounts are normally shown as debit balances expenses an asset a liability
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On the bank's accounting records, customers' accounts are normally shown as
-
- debit balances
- expenses
- an asset
- a liability
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Answer:
D .
Step-by-Step explanation
Bank ponders its customers or clients as creditors at the time one deposit in the bank, which is why the amount deposited is credited on the contrary at depositing client considers the bank as a debtor.
The cash deposited in a bank is a liability for bank and asset for the individual. Similarly at withdrawing the bank debits the customer's account as it reduces its creditors and customer credits the bank.
