Question

When a bank decided to invest in cash-counting equipment and new cubicles for its loan officers,they were recorded on the bank balance sheet as:__________
A) liabilities.
B) assets.
C) vault cash.
D) deposits.
E) loans.

Answer 1

Answer:

B) assets.

Explanation:

When a bank decided to invest in cash-counting equipment and new cubicles for its loan officers,they were recorded on the bank balance sheet as assets.

In this scenario when the bank decided to invest in cash counting equipment and new cubicles, it is acquiring new assets in its name.