When You Have $1,000 in a Savings Account at a Bank

Multiple Choice

When you have $1,000 in a savings account at a bank:

A) the bank holds a financial asset of $1,000 and you hold a financial liability of $1,000.
B) the bank holds a financial liability of $1,000 and you hold a financial asset of $1,000.
C) both you and the bank now have a financial asset of $1,000.
D) both you and the bank now have a financial liability of $1,000.