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If a Bank Has Excess Reserves of $4,000 and Demand

question 148

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If a bank has excess reserves of $4,000 and demand deposit liabilities of $100,000,and if the reserve requirement is 10 percent,then the bank has actual reserves of


Definitions:

Statement of Cash Flows

A financial report that consolidates information about all cash received and expended by a business.

Cash Receipts

The collection of money, such as income from sales or assets being liquidated, recorded during an accounting period.

Cash Payments

Money transactions made to settle obligations or purchases.

CPAs

Certified Public Accountants, professionals who have met the education and licensing requirements to offer accounting services to the public, including audits and financial planning.

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