When a bank issues a checkable deposit and loans the funds out to a business, it has transformed
A) a financial asset for a saver into a liability for a borrower.
B) a financial liability for a saver into a financial asset for a borrower.
C) a short-term liability to a borrower into a long-term asset to a saver.
D) one liability into another liability.
Correct Answer:
Verified
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