Question
1. Using the basic accounting equation, show and discuss how a default on US debt could affect large banks like a JP Morgan. 2. Does
1. Using the basic accounting equation, show and discuss how a default on US debt could affect large banks like a JP Morgan.
2. Does the fact that we have moved close to default have a direct cost impact on a large bank like JP Morgan? Explain why or why not.
2. If the US were to default on its debt, discuss the (1) possible consequences to the US economy and (2) the likely consequences to the US economy.
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Financial Accounting
Authors: Robert Kemp, Jeffrey Waybright
2nd edition
978-0132771801, 9780132771580, 132771802, 132771586, 978-0133052152
