The Brankov Tool and Die Company Reports the Following for the Fiscal

question 49

Multiple Choice

The Brankov Tool and Die Company reports the following for the fiscal year ended December 31,2014: What is comprehensive income for the year ended December 31,2014?

• A)$1,092,500
• B)$1,104,500
• C)$1,149,500
• D)$1,155,000

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Definitions:

Reserve Requirement

A regulatory mandate on banks to hold a certain percentage of their deposits in reserve either in their vaults or at the central bank.

Excess Reserves

The capital reserves held by a bank or financial institution in excess of what is required by regulators, creditors, or internal controls.

Money Supply

The total amount of monetary assets available in an economy at a specific time, including currency and various types of bank deposits.

Open Market Purchases

Actions by a central bank to buy securities in the open market to increase the money supply and lower interest rates, aiming to stimulate economic activity.