The Major Liability of the Federal Reserve Is

question 45

Multiple Choice

The major liability of the Federal Reserve is

• A)U.S. Treasury securities.
• B)depository institution reserves.
• C)currency outside banks.
• D)vault cash of commercial banks.
• E)gold and foreign exchange.

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Definitions:

Inventory Accounting

Inventory accounting is the process of valuing and tracking physical stock and includes methods such as FIFO (First In, First Out) and LIFO (Last In, First Out).

Merchandise Returns

Merchandise returns are transactions in which customers return previously purchased goods to the seller, usually for a refund or store credit.

Collection Efforts

The process of pursuing payments of debts owed by individuals or businesses.

Receiving Cash

The process involving the collection or receipt of cash in a business transaction.