When you withdraw $1,000 from your bank account:

Name: When you withdraw $1,000 from your bank account:
Brand: Quizplus
Rating: 4.8 (63 reviews)

Question

Quizplus · Accepted Answer

When you withdraw $1,000 from your bank account, the bank's liabilities (what it owes to you) decrease by $1,000 because it no longer owes you that amount in your account. Simultaneously, the bank's assets decrease by $1,000 because it has given you cash. You have exchanged one form of financial asset (bank deposit) for another (cash), without an increase in your financial assets or liabilities.

When You Withdraw $1,000 from Your Bank Account