Secondary Reserves Are Vault Cash and Deposits Held at Other

question 90

True/False

Secondary reserves are vault cash and deposits held at other depository institutions and at Federal Reserve Banks.

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Definitions:

Qualitative Characteristic

A fundamental attribute that makes the information provided in financial statements useful to users.

Going Concern

An accounting principle that assumes a company will continue in operational existence for the foreseeable future, without the intention or necessity of liquidation.

Comparability

The ability to compare financial information across different entities or time periods to understand economic similarities and differences.