Reserves Are

question 105

Multiple Choice

Reserves are

• A) gold in a bank's vault plus its gold at Federal Reserve banks.
• B) cash in a bank's vault plus its deposits at Federal Reserve banks.
• C) cash in a bank's vault plus its gold at Federal Reserve banks.
• D) cash in a bank's vault plus the cash carried by its customers.

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Definitions:

Direct Labor Hour

A measure of the labor time spent on a specific project or production activity, often used for costing purposes.

Work in Process Inventory

The value of goods in various stages of production in a manufacturing company, not yet completed.

Work in Process

Inventory representing partially completed goods that are still in the process of production.

Direct Labor Costs

Expenses related to employees who are directly involved in the production of goods or services, such as wages for assembly line workers.