Answers

1. What is the path of currency (coins and banknotes) from manufacture to circulation?

   mint or printing office

   central bank

   commercial banks

   people

2. Is currency an asset?
3. Is bank account money an asset?
4. What other assets do you own?
5. What are some non-cash assets owned by a local bookstore?
6. What are some non-cash assets owned by a bank?
7. Is there a simple definition of "liability"?
8. What is the fundamental accounting equation?
9. Is there a simple definition of "owners' equity"?
10. Is there a simple definition of "owners' equity"?

    Owner's Equity = Assets - Liabilities