Which of the Following Statements Is NOT Correct? an Exchange

question 42

Multiple Choice

Which of the following statements is NOT correct? An exchange settlement account (ESA) is:

• A)an account held by deposit-taking institutions at the Reserve Bank of Australia (RBA).
• B)used to transfer funds to and from in order to settle transactions in the payments system.
• C)an account whose balance represents bank reserves.
• D)the account used by the Commonwealth government for its spending and its income.

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