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Sue Has a Checking Account at the First National Bank;

Question 15

Multiple Choice

Sue has a checking account at the First National Bank; her checking account is a(n) :


A) asset to the bank and a liability to Sue.
B) asset to Sue and a liability to the bank.
C) asset to Sue but actually a liability to the Federal Reserve.
D) liability to Sue until she spends the funds.

Correct Answer:

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