Bank reserves can be categorized as
A) vault cash and deposits at the Fed.
B) required reserves and excess reserves.
C) borrowed reserves and nonborrowed reserves.
D) all of the above.
D
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Pizza Pier retires its 7% bonds for $68,000 before their scheduled maturity. At the time, the bonds have a face value of $70,000 carrying value of $74,937. Record the early retirement of the bonds.
What will be an ideal response?
Dishonor occurs if payment of an instrument cannot be obtained within the prescribed time
Indicate whether the statement is true or false
Hemisphere Financial Corporation, a U.S. firm, files a suit against Italy in a U.S. court. Italy claims foreign sovereign immunity. Under the Foreign Sovereign Immunities Act, this claim is determined by
A. a neutral third-party court. B. an international law court. C. an Italian court. D. the U.S. court in which the suit is filed.
Morrel University has a small shuttle bus that is in poor mechanical condition. The bus can be either overhauled now or replaced with a new shuttle bus. The following data have been gathered concerning these two alternatives (Ignore income taxes.): Present BusNew BusPurchase cost new$32,000 $40,000 Remaining net book value$21,000 - Major repair needed now$9,000 - Annual cash operating costs$12,000 $8,000 Salvage value now$10,000 - Trade-in value in seven years$2,000 $5,000 The University could continue to use the present bus for the next seven years. Whether the present bus is used or a new bus is purchased, the bus would be traded in for another bus at the end of seven years. The University uses a discount rate of 12% and the total cost approach to net present value
analysis.If the present bus is repaired, the present value of the salvage received on sale of the bus seven years from now is closest to:?See separate Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using the tables provided. A. $(2,260) B. $2,260 C. $(904) D. $904