Question
1 Which of the following is false? A Treasury note is a liability of the U.S. Treasury A Federal Reserve Note is a liability of
1 Which of the following is false?
| A Treasury note is a liability of the U.S. Treasury | ||
| A Federal Reserve Note is a liability of the Federal Reserve | ||
| A Treasury bond is a liability of the U.S. Treasury | ||
| A dollar bill is an asset of the Federal Reserve | ||
| A dollar bill is a liability of the Federal Reserve |
2 What is the general distinction between dealers and banks?
| Dealers buy and sell securities; banks borrow and lend money | ||
| Dealers borrow and lend money; banks buy and sell securities | ||
| Dealers use their balance sheet for their business; banks do not | ||
| Dealers have minimum capital requirements; banks do not |
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
3rd Edition
978-0077398194
