When a bank makes a loan to one of its customers, to the bank the loan is classified as
A) an asset.
B) a liability.
C) neither an asset nor a liability.
D) an asset in some cases and a liability in other cases, depending on the type of loan.
A
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The most common form of tariff is a countervailing duty
Indicate whether the statement is true or false
Which of the following is not primarily a function of the federal government
a. national security b. higher education c. economic stability d. market competition e. all of the above are functions of the federal government
Assume the short-run average total cost for a perfectly competitive industry increases as the output of the industry expands. In the long run, the industry supply curve will:
a. have a positive slope. b. have a negative slope. c. be perfectly horizontal. d. be perfectly vertical.
The theory of comparative advantage suggests that a(n):
a. industrialized country should not import. b. country that is not competitive should import everything. c. country specialize in producing goods or services for which it has a lower opportunity cost. d. none of these.