QUESTION 4Which of the fallowing statements are correct? Pick two correct answers.Deposits are created.O When commercial banks make new loans to households and firmsWhen John takes pile of cash from under his matress and pays it into his current account at thebankBy the Bank of EnglandBy the Financial Conduct Authority (FCA)

Deposits normally created by the bank when some one new customer open account with in the bank and…

Answered: QUESTION 4 Which of the following…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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O WhatsApp ll 10:16 Reader View Available In reconciling a business' cash book with the bank statement, which of the following items could require a subsequent entry in the cash book?(1) Cheques presented after the date of the bank statement.(2) A cheque from a customer which was dishonoured.(3) An error by the bank.(4) Bank charges. (5) Deposits credited after the date of the bank statement.(6) Standing order payment entered in the bank statement. (2), (3), (4) and (6) only (1), (2), (5) and (6) only (2), (4) and (6) only (1), (3) and (5) only
Question 1 Please use an example to explain the process that the banking system uses to create money. Assume in your example that Bank 1 receives $1,200 from Firm A and sets up a checking account (demand deposits) for Firm A. Three firms, i.e., Firm A, Firm B, and Firm C, will be included in the process. Also assume that Bank 1, Bank 2, and Bank 3 all hold 12% in reserves and lend out the remaining demand deposits to corporations to earn interests.
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Select the banking terms from drop down to match with the correct definition. Definitions Banking Terms a. A check that has been paid by the bank on behalf of the depositor. select a banking term Automated teller machine (ATM)Electronic funds transfer (EFT)MakerDepositorDebit memorandumPayeeBank statementPayerCredit memorandumDeposit slipCheckCanceled checkSignature cardEndorsement b. A disbursement system that uses wire, telephone, or computers to transfer cash balances from one location to another. select a banking term EndorsementBank statementDeposit slipDebit memorandumCheckDepositorElectronic funds transfer (EFT)PayeeSignature cardPayerCanceled checkCredit memorandumAutomated teller machine (ATM)Maker c. A document provided by the bank that requires the signature of all authorized signers of checks. select a banking term…
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You are trying to explain debit and credit memos that appear on bank statements and whether these will increase or decrease your company's bank account balance. Complete the following table to help your new staff understand. Debit or Credit Increases or Decreases the Company's Item Memo Bank Account Balance EFT payment Bank correction of an error due to posting another customer's check to your account Service charge Note and interest collected for our company NSF check Bank correction of an error recording a $250 deposit as $520 EFT deposit

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