A Small State Bank Currently Has Reserves Equal to $300,000

question 47

Multiple Choice

A small state bank currently has reserves equal to $300,000.If the state reserve requirement is 20%,but the bank currently maintains a 30% reserve,how much are the excess reserves the bank currently has?

• A) $200,000
• B) $100,000
• C) $300,000
• D) $500,000
• E) None of the above.

Familiarize with the use of social computing for social media management by businesses.

Understand the practice and benefits of analyzing social media data to improve customer experience and business operations.

Understand the role of group buying and collaborative consumption in e-commerce.

Recognize the use of social media in emergency response and disaster management.

---

Definitions:

Returned Merchandise

Returned merchandise involves items that have been sold and then later returned by the customer, typically requiring the business to refund the customer's money or exchange the product.

General Journal Entry

The basic method of recording financial transactions, involving debits and credits, in the general journal.

Sales Tax

A tax levied by governments on the sale of goods and services, typically calculated as a percentage of the retail price.

Credit Sale

Transactions where goods or services are sold by providing credit to the customer, with payment to be received at a later date.