A Minimum Cash Balance Required by a Bank Is Called

question 10

Multiple Choice

A minimum cash balance required by a bank is called

• A) cash in bank
• B) a cash equivalent
• C) a compensating balance
• D) an EFT

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Definitions:

Benefit of the Bargain

is a legal principle in contract law that awards damages equal to the expected benefits under a contract that were lost due to breaches by the non-performing party.

Consequential Damages

Refers to indirect damages that do not flow directly from the act but are a consequence of the initial act, such as loss of profits.

Prima Facie Unconscionable

A term describing terms or agreements that appear to be shockingly unfair or unjust on the face of it.

Consumer Goods

Items produced for personal or household use, typically not intended for resale or further production.