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Question
Harry gets $1000 in currency from his grandfather when he graduates from college. He deposits these funds into his checking account. Considering Harry's personal balance sheet, his assets:A. increased by $1000 when he deposited the $1000 into his checking account.
B. Increased when he received the $1000 in currency from his grandfather.
C. And liabilities increased by $1000 when he deposited the funds into his checking account.
D. Increased by $1000 and his liabilities decreased by $1000 when he deposited the funds into his checking account.
Answer
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