If a Bank Has a Required Reserve Ratio of 20

question 53

Multiple Choice

If a bank has a required reserve ratio of 20% and has required reserves of $300 million,how much does the bank hold in deposits?

• A) $33.75 million
• B) $60 million
• C) $360 million
• D) $1.5 billion
• E) There is not enough information to solve this problem.

Understand how to calculate the cost of goods sold using FIFO cost flow assumption.

Determine the predetermined overhead rate and identify whether overhead is overapplied or underapplied.

Journalize the flow of labor costs into production.

Compute job order costing including balance on job cost sheets and cost per unit.

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Definitions:

360-Degree Feedback

A performance appraisal method where an employee receives confidential, anonymous feedback from the people who work around them.

Achievement Motivation

The drive to pursue and attain goals; an individual's persistent effort to succeed and meet standards of excellence.

Desire for Control

The motivation to influence or regulate one's environment or the outcomes of various aspects of one's life.

High Standard

The level of quality or excellence that is expected or required from a task or behavior.