Johnny Is a Sophomore in College and Has a 1

question 544

Multiple Choice

Johnny is a sophomore in college and has a 1.5 cumulative grade point average (GPA) . Johnny's cumulative GPA will be better next semester if he
(i) performs better than he did last semester.
(ii) performs better than his cumulative GPA.
(iii) gives an average performance.

• A)(ii) only
• B)(iii) only
• C)(i) and (ii)
• D)(ii) and (iii)

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Definitions:

Non-Interest-Bearing Reserve Deposits

Bank reserves held in a central bank that do not earn any interest for the commercial bank.

Legal Reserves

Funds that banks are legally required to hold in reserve against deposits made by their customers, either as cash in the bank or as deposits in the central bank.

Federal Reserve

The main bank system in the United States, tasked with managing the country's monetary policy, overseeing banking regulations, ensuring the financial system remains stable, and delivering financial services.

Liabilities

Financial obligations or debts owed by a person, company, or entity to others.