account or debt obligation. This is the case as it represents an obligation by the bank towards
its customers to repay the deposit at any point of time with the accumulated interests (if such
terms exists for the timeliness of the interest). That is, the customer’s deposits are in fact debt
obligations that the bank creates when the customer deposits the funds. As previously
discussed, debt obligations are considered to be intangible. That is, the arrangement created by
the customer and bank is considered to intangible in nature. If we pursue this logic, we can
argue that cash at the bank is also an intangible in nature as it represent a receivable (the
counterpart of the debt obligation). That is, it represents a receivable the customer expects to
receive from the bank at any point of time. As such, this is also considered to be intangible in
nature