If First Interstate Bankcorp Has Demand Deposits of $8 Billion,actual

question 66

Multiple Choice

If First Interstate Bankcorp has demand deposits of $8 billion,actual reserves of $1.4 billion,and the reserve requirement is 15%,the bank's excess reserves are

• A)$100 million.
• B)$200 million.
• C)$400 million.
• D)$800 million.
• E)1 billion.

---

Definitions:

Restructuring Charges

Costs associated with reorganizing a company’s operations, such as layoffs, plant closures, or other major changes aimed at improving efficiency or effectiveness.

Stock Prices

The current trading price of a company's shares on the stock market.

Correction of an Error

An adjustment in financial statements to amend previously recognized inaccuracies or omissions.

Retroactively Restated

Financial statements that have been amended and reissued to correct errors or to reflect new accounting principles applied to past periods.