Which of the following is a bank asset?

Question

Quizplus · Accepted Answer

Cash items in the process of collection are funds that have been deposited by customers but have not yet been collected by the bank from the customer's bank. This is a bank asset because it represents money that the bank expects to receive in the future. Checkable deposits and savings deposits are liabilities because the bank owes the depositors the funds that have been deposited. Borrowings in the federal funds market are liabilities because the bank owes the funds to the institution from which it borrowed.

Which of the Following Is a Bank Asset