Why does a bank credit a customer's account when the customer makes a depositand debit the account when the customer makes a withdrawal?O Because banks use a different method of accountingO Because the customer's account is a liability for the bank.Because the customer's account is an asset to the bank

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Why does a bank credit a customer's account when the customer makes a deposit and debit the account when the customer makes a withdrawal?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Why does a bank credit a customer's account when the customer makes a deposit
and debit the account when the customer makes a withdrawal?
O Because banks use a different method of accounting
O Because the customer's account is a liability for the bank.
Because the customer's account is an asset to the bank

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