A bank will consider a car loan to a customer ________ and a customer's checking account to be ________.

Question

Quizplus · Accepted Answer

A car loan is considered a liability for the customer as they owe money to the bank, while a checking account is an asset for the customer as they have money in the bank. Therefore, the best choice is option B: a car loan is an asset for the bank and a liability for the customer, and a checking account is an asset for the customer and a liability for the bank.

A Bank Will Consider a Car Loan to a Customer