Loans
A) are the largest category of bank assets.
B) provide most of the bank's revenues.
C) earn the highest return of all bank assets.
D) do all of the above.
E) are only A and B of the above.
D
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In a dynamic model, what three key assumptions are needed to make the prices of goods and services endogenous?
What will be an ideal response?
Castillo Services paid K. Castillo, the sole shareholder of Castillo Services, $5,700 in dividends during the current year. The entry to close the dividends account at the end of the year is:
A. Debit Dividends $5,700; credit Cash, $5,700 B. Debit Dividends $5,700; credit Retained earnings $5,700 C. Debit Retained earnings $5,700, credit Salary Expense $5,700 D. Debit Retained earnings $5,700; credit Dividends $5,700 E. Debit Income Summary $5,700; credit Retained earnings $5,700
Trading securities appear as current assets on the balance sheet at their historical cost regardless of subsequent increases or decreases in market value
Indicate whether the statement is true or false
Explain the difference between A) Accrued revenues and unearned revenues
B) Accrued expenses and prepaid expenses. C) Give an example of each.