Are checking accounts considered an asset

Yes the statement is true.

Explanation:

Checking accounts are considered as the current assets for the banks.

Checking account are the current accounts in the banks. People who open a current account in a bank, put their money in their accounts and can withdraw as much as they want and whenever they want. Because people put their money in their accounts, this money is considered as the assets for the banks with which the money is held. This money is considered the current asset of the bank.

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explanation: