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NemiM [27]
1 year ago
7

The federal reserve system can do all of the following except:_______

Business
1 answer:
Nana76 [90]1 year ago
4 0

The Federal Reserve System can do all the given options except A. lender of last resort for consumers.

<h3>What does the federal reserve system do?</h3>

The federal reserve system of the United States is the central bank of the nation and as such, they engage in services like check clearing and regulating the money supply.

They also act as a lender of last resort to banks in order to ensure that they don't fail. The Fed does not lend money to consumers directly so this is not one of their roles.

Options for this question:

  • A. lender of last resort for consumers
  • B. regulation of the money supply
  • C. supplying currency
  • D. check clearing

Find out more on the roles of the Federal Reserve at brainly.com/question/14417722

#SPJ1

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5 0
2 years ago
Assume that a firm reports net income of $45,000 prior to making adjusting entries for the following items: expired rent, $3,500
tigry1 [53]

Answer:

The errors have resulted in the overstatement of net income by $9,400. Actual net income is $35,600

Explanation:

Expired rent is usually accounted for by debiting rent expense and crediting prepaid rent account. As such this is an additional expenses that will be deducted from sale to get the net income.

Depreciation expense on asset is recorded by debiting depreciation expense and crediting accumulated depreciation. Again, it is an additional expenses that will be deducted from sale to get the net income.

Supplies used is a debit to supplies expense and a credit to the supplies account (B/s). Hence, it is an additional expenses that will be deducted from sale to get the net income.

Hence the total additional expense to be recorded

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3 years ago
What are some of the advantages and disadvantages of buying a home compared to renting.
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