Reserves Held by Banks Are Mainly Held in the Form

question 134

Multiple Choice

Reserves held by banks are mainly held in the form of:

• A) currency.
• B) checkable deposits.
• C) electronic claims.
• D) savings accounts.

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Definitions:

Closely Held Corporation

A corporation that has a small number of shareholders, often characterized by its lack of public trade on stock exchanges and its tight-knit management.

Corporate Property

Assets owned by a corporation, which can include real estate, machinery, intellectual property, and other tangible and intangible assets.

Durable Power of Attorney

A legal document that grants a designated person the authority to make financial and/or health care decisions on behalf of someone else, even if the grantor becomes incapacitated.

Incapacity

The lack of legal ability to perform an act, such as entering into a contract due to mental disability or minority.