<span>The accounting equation will be affected as follows there will be increase in the assets in the form of cash and an increase in the owner's equity that is of Michael Anderson. Owners equity is the amount that the owners invest in the business excluding the withdrawal in the process and adding the net income or net loss (whatever is the result at the end).</span>
Answer:
The two ways that a corporation can be classified by ownership are: publicly held and privately held
Explanation:
Corporation is majorly defined by the ownership of the entity and this ownership can only be determined by the number of share being held by private groups and promoters or the general public.
The Central Bank has raised its reserve requirements from 10% to 12%. If the Southern Bank finds that it is not holding enough in reserves to meet the higher requirements, then it will likely borrow for the short term from the central bank. The Option B is correct.
<h2>What is a Reserve requirement?</h2>
A reserve requirement, basically means the amount of funds that a bank must holds in reserve to ensure that it is able to meet liabilities in case of sudden withdrawals. In other word, it is the required cash that banks must have in their vaults or in Federal Reserve bank in line with deposits made by their customers.
Whenever a bank have lower than the reserve requirements, then, it is most likely that it will borrow for the short term from the central bank for meet the requirement.
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Answer:
Roth IRA account
Explanation:
The best type of account that you should save money in for Retirement is a Roth IRA account. This will allow you to put and save a maximum of $5,500 USD per year which will compound annually with interest and can be redeemed when you retire. Once you redeem your money at the age of 65 1/2 it will be completely tax-free. Meaning you have no liabilities with that money whatsoever and you can simply enjoy your retirement with that money.