Define and Give Examples of the 3 Major Types of Quantitative

question 13

Essay

Define and give examples of the 3 major types of quantitative data.

Identify the tools utilized by the Federal Reserve to implement monetary policy.

Analyze the effects of buying and selling government securities on the money supply and interest rates.

Recognize how reserve requirements affect banks' lending capacities.

Grasp the significance of the independence of the Federal Reserve from other branches of government.

---

Definitions:

Closing Process

The closing process involves finalizing accounts at the end of an accounting period, transferring net income and dividend information to retained earnings, and preparing the accounts for the next period.

Owner's Capital

The total value of assets contributed by the owner of a business plus the retained earnings.

Owner's Drawings

Withdrawals of a business's cash or other assets by the owner for personal use.

Expense Accounts

Accounts used to record business expenses, which reduce net income in the profit and loss statement.