If Alexandra deposits $1,000 from her paycheque into her chequing account and at the same time increases her credit card balance by $1,500,then her wealth

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Quizplus · Accepted Answer

Alexandra's deposit of $1,000 increases her assets in her chequing account by $1,000, but her credit card balance increases by $1,500, which is a liability. Therefore, her net wealth decreases by $500 ($1,000 - $1,500 = -$500).

If Alexandra Deposits $1,000 from Her Paycheque into Her Chequing