The Part of a Commercial Bank's Reserves That Are Larger

question 339

Multiple Choice

The part of a commercial bank's reserves that are larger than desired are called

• A)additional reserves.
• B)required reserves.
• C)excess reserves.
• D)nonrequired reserves.
• E)unnecessary reserves.

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Definitions:

Fraudulent Misrepresentation

False statements made intentionally to deceive, typically leading to harm or loss, and which may be grounds for legal action.

Rescinded

To revoke, cancel, or repeal a law, order, or agreement.

Non Est Factum

A defence that may allow illiterate or infirm persons to avoid liability on a written agreement if they can establish that they were not aware of the true nature of the document, and were not careless in its execution.

Statute of Frauds

A legal concept that requires certain types of contracts to be executed in writing and signed by all parties involved to be legally enforceable.