Answer the Question Based on the Following Balance Sheet for the First

question 80

Multiple Choice

Answer the question based on the following balance sheet for the First National Bank. Assume the reserve ratio is 15 percent: Refer to the data above. If a check for $14,000 is drawn and cleared against this bank, then its reserves and checkable deposits will be, respectively:

• A) $50,000 and $120,000
• B) $50,000 and $106,000
• C) $36,000 and $120,000
• D) $36,000 and $106,000

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Definitions:

Frantic Gesturing

The act of making wildly excited movements or signals, often as a form of non-verbal communication.

Catatonic

Catatonia refers to a state of psycho-motor immobility and behavioral abnormality manifested by stupor.

Disorganized

Lacking order or systematic arrangement; cluttered and unable to find things or manage tasks effectively.

Paranoid

Characterized by irrational suspicion and mistrust of others, often leading to delusional thinking.