The Actual Execution of Open Market Operations Is Done at

question 5

Multiple Choice

The actual execution of open market operations is done at

• A)the Board of Governors in Washington,D.C.
• B)the Federal Reserve Bank of New York.
• C)the Federal Reserve Bank of Philadelphia.
• D)the Federal Reserve Bank of Boston.

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Definitions:

General Journal

A journal used to record all types of accounting transactions with detailed explanations.

Permanent

Refers to accounts that represent the financial standing of a company and carry their ending balances over from one accounting period to the next, such as assets, liabilities, and equity accounts.

Federal Treasury

A government's department responsible for managing public revenue, including issuing currency, collecting taxes, and funding public services.

Permanent

Refers to accounts or records in the general ledger that are not closed at the end of the accounting period, such as assets, liabilities, and equity accounts.