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

Accounting: Accounting is a system, or a process of collecting and organizing economic…

Answered: Why does a bank credit a customer's…

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?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 15MC: Which of the following items are found on a book side of the bank reconciliation? A. beginning bank...

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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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