In Which of the Following Cases Is a Bank Obliged

question 48

Multiple Choice

In which of the following cases is a bank obliged to file a Currency Transaction Report (CTR) with the Internal Revenue Service?

• A)The bank receives instructions from a customer to certify an ordinary check worth $10,000 issued in a foreigner's name.
• B)The bank receives an ordinary check worth $13,000 payable to a customer's checking account.
• C)A customer deposits $20,000 through a cashier's check in his checking account.
• D)A customer issues stop-payment instructions on a check worth $15,000 issued to a payee.

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Definitions:

Fixed Costs

Costs that do not vary with the level of output or sales, such as rent, salaries, and loan payments, remaining constant regardless of business activity levels.

Total Revenue

The total amount of money a firm receives by selling goods or services, calculated as the unit price times the quantity sold.

Maximizing Profits

The process or strategy of adjusting the production and sale of goods and services to achieve the highest possible profit.

Fixed Costs

Costs that do not change with the level of output produced, such as rent, salaries, or insurance expenses.