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vovangra [49]
3 years ago
6

The McFadden Act of 1927:_________. a. required that banks maintain bank capital equal to at least 6 percent of their assets. b.

effectively required that banks maintain a correspondent relationship with large money center banks. c. effectively prohibited banks from branching across state lines. d. did all of the answers.
Business
1 answer:
Rina8888 [55]3 years ago
7 0

Answer:

Option C is correct.

Explanation:

The McFadden Act which was passed by Congress in 1927 refers to a Federal legislation which ensured that authority was given to individual states to govern the bank branches that were located within the state.

The legislation also included national bank branches that were located within state lines.

This act was passed with the intention of allowing the national banks to compete with state banks by allowing them to open bank branches within state limitations.

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3 years ago
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Select the situation that will occur when a shortage of bread exists, and consumers pressure producers to change their actions.
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4 years ago
During last month, your beginning inventory was $17,500, your purchases were $19,252, and your ending inventory was $15,757. Wha
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$20,995

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7 0
3 years ago
On January 1, 2022, the Sheridan Company ledger shows Equipment $49,700 and Accumulated Depreciation $18,280. The depreciation r
Lisa [10]

Answer:

revised annual depreciation will be : 13710

Explanation:

After revision the remaining life of equipment shrank down to 2 years, so the depreciation working will be worked out to adjusted the impact of decreasing of useful life.

As per existing information the depreciation charges are calculated as :

(Cost-Salvage Value)/Useful life= (49700-4000)/10 = 4570

Accumulated Depreciation indicates that 4 years have past by (18280/4570)

now remaining years are 6 which will be reduced to 2 after revision so the new working will be as follows:

Remaining Cost :31420  (49700 -18280)

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Revised Remaining Useful Life  : 2

Revised Calculated Depreciation Annual  : (31420-4000)/2 = 13710

It can be further verified through simple math also:

Adding annual depreciation of remaining 2 years : 13710 +13710 =27420

Value available for depreciation after salvage value : 31420 -4000= 27420

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If Johnny likes homework (H) but hates exercise (E), which of the following might best represent his utility function for homewo
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Answer:

b. u= h/e

Explanation:

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