Home › AP Macroeconomics › Economics › Money and Banking › A balance sheet is described as an accounting to…
A balance sheet is described as an accounting tool that lists assets and:
ACompetitors
BLiabilities
CEmployees
DCustomers
Answer & Solution
Correct answer: B. Liabilities
1. A balance sheet has two sides.
2. Banks are analysed using a balance sheet.
3. A balance sheet is an accounting tool that lists assets and liabilities.
4. The difference between them is the net worth.
_Source: OpenStax Principles of Macroeconomics for AP Courses 2e (CC BY 4.0), Ch 13 'Money and Banking'_
Related questions
An economy where every trade needs a double coincidence of wants is best described as one Cowrie shells used for centuries as a medium of exchange are an example of:Savings deposits sit in M2 rather than M1 because they cannot directly serve as a:A bank's reserves are classified on its balance sheet as:In a multi-bank system, the amount of money the system can create is determined using the:Net worth is defined as the asset value minus:Banks are described as a critical intermediary in what is called the:A world without money would require what economists call a double coincidence of: