In describing the entire financial system, the total of all financial liabilities outstanding should equal the sum of all financial assets held.

Name: In describing the entire financial system, the total of all financial liabilities outstanding should equal the sum of all financial assets held.
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Question

Quizplus · Accepted Answer

In a financial system, every financial liability for one entity is a financial asset for another, so the total liabilities in the system should equal the total assets.

In Describing the Entire Financial System, the Total of All