Question

A checking account is a liability to a commercial bank. an asset to a commercial bank. a liability to the household or firm that has the account. an asset for the Federal Reserve System.

Answer 1

Answer: liability to a commercial bank

Explanation:

A checking account is referred to as a form of bank account where the account owner can deposit and withdraw at ease.

It should be noted that a checking account is considered to be a liability to a commercial bank because the money can be withdrawn at any time by the owner of the account.