Answered: Which of the items below are typically…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter5: Internal Control And Cash

Section: Chapter Questions

Problem 5.19E

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Question

Which of the items below are typically ASSETS for a commercial bank?
(Select all that apply; three of the answers below are correct)

reference: chapters 11 & 12

Customer Deposits (such as checking & savings accounts)

Investment Securities (such as treasury bonds & money market securities)

Vault Cash & Deposits at the Federal Reserve

Customer Loans (such as mortgages or small business loans)

Borrowed Funds (such as short-term borrowing from other banks, or from the Federal Reserve)

Definition Definition Financial market that deals in securities or assets that are short-term in nature. The money market is responsible for keeping up the liquidity of the businesses and the organizations. These securities are usually held for a period of 12 months or less and are issued by institutions that require cash or funds for their short-term cash flow requirements. The money market is regulated by the federal government.

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