Answer: UHM I guess I-
Explanation:
The banking panic of 1907 and the resulting cash shortage led to the formation of the Comptroller of the Currency.
<u>Explanation:</u>
The Office of the Comptroller of the Currency (OCC), established by National Currency Act of 1863 serves to supervise, regulate and charter all national banks, thrift institutions and all the other federally licensed branches in US. The current Comptroller of the Currency is Joseph Otting.
The banking panic of 1907 has been a main motivation in creating the 3rd central banking system in 1907–1913. This was initiated by failed speculation that led to bankruptcy of 2 brokerage firms.
The public started to panic that the trust and banking industries were experiencing liquidity crunches and had the currencies only to meet short-term or immediate obligations. This caused bank runs and set off the financial panic of 1907 nationwide and it lasted for months.
The correct answer would be False
Answer:
when you flip you buy at a low price, fix it up then sell at a higher price for profit. usually in less than 6 months.
Answer:
$700,000
Explanation:
As we know that
The income statement is the statement that records the income and the expenditure for a company
The expenses should be shown on debit side while the income or revenue is shown on the credit side
Since the total service revenue earned is $700,000 and the same is to be shown in the income statement as it records all the cash and credit sales or service revenue
Therefore, the total amount i.e $700,000 is reported on the income statement
