In a commercial bank's t-account, reserves and outstanding loans are recorded as assets.
In economic accounting, "reserve" usually has a credit balance and may talk over with part of shareholders' fairness, a liability for envisioned claims, or contra-asset for uncollectible debts. A reserve can seem in any part of shareholders' fairness besides for contributed or simple proportion capital.
Reserves are a part of income or gain that has been allotted for a selected reason. Reserves are usually installed to shop for fixed property, pay bonuses, pay an anticipated prison settlement, pay for upkeep & protection and pay off debt.
Reserves – additionally called retained income – are portions of a commercial enterprise's profits that have been set aside to strengthen the enterprise's economic function.
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Although it is the most liquid asset, money is a flawed store of value. M1 is recognized as the measure of the money supply that is the most precisely specified.
What is term money?
Money is a good that is widely acknowledged as a means of economic exchange.
Because of inflation, money is actually an imperfect store of value. A monetary system where gold or silver, for example, is used as the actual medium of exchange. A form of money where paper money is backed by gold.
As a result, option (b) is correct.
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Answer: $11,000
Explanation:
The solution to this problem is not tedious or complicated
Solution;
Amount is = $110,000
Percentage of down payment is given as = 10%
To get the amount of the down payments we find the 10% of $110,00
10% of $110,000 is = 10÷100
=0.1
We multiply it by the amount which is 0.1×110,000= $ 11,000
