Harry gets $1,000 in currency from his grandfather when he graduates from college. He deposits these funds into his checking account. Considering Harry's personal balance sheet, his assets:
A) increased by $1,000 when he deposited the $1,000 into his checking account.
B) Increased when he received the $1,000 in currency from his grandfather.
C) And liabilities increased by $1,000 when he deposited the funds into his checking account.
D) Increased by $1,000 and his liabilities decreased by $1,000 when he deposited the funds into his checking account.
Correct Answer:
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