Answer:
Truth in Savings Act
Explanation:
The law was passed to bring fairness in the financial statements of the financial institutions because their mismanagement of operations has a great impact on the organizations and the pensioners. It was evident when a large group of financial institutitons got bankrupt when Enron collapsed which affected all the pensioners in the US. So to bring fairness and emphasize additional control on the financial institutions the US government passed the Truth in Saving Act to safeguard its resident's future income.
The appropriate response is concurrent conditions. The concurrent condition is a condition which ought to happen or be performed at the same time with another condition, the execution by each gathering independently work as a conditioning point of reference. This is a condition that is commonly reliant on another, emerging when the gatherings to an agreement consent to trade exhibitions at the same time.
Answer:
1. Maintaining federal government checking accounts and gold.
2. Maintaining and circulating currency.
3. Being the lender of last resort for banks
Explanation:
The Federal Reserve System (the 'Fed) was created by the Federal Reserve Act, passed by Congress in 1913. The Fed began operations in 1914. It was founded by President Woodrow Wilson under the Federal Reserve Act, which was aimed at backing each banks in order to put a definitive end to the bank panics of the 1800s.
The following are functions of the Federal Reserve;
1. Maintaining federal government checking accounts and gold.
2. Maintaining and circulating currency.
3. Being the lender of last resort for banks.
<em>Additionally, it comprises of twelve (12) Federal Reserve Bank regionally across the United States of America and seven (7) board of governors. </em>
Answer:
Current ratio = <u>Current assets</u>
Current liabilities
2.6 = <u>$11,400</u>
Current liabilities
Current liabilities = <u>$11,400</u>
2.6
Current liabilities = $4,385
Quick ratio = <u>Current assets - Inventory</u>
Current liabilities
Quick ratio = <u>$11,400 - $4,000</u>
$4,385
Quick ratio = 1.69
Explanation:
Current ratio is the ratio of current assets to current liabilities. The current ratio and current assets have been provided in the question with the exception of current liabilities. Thus, we will make current liabilities the subject of the formula.
Quick ratio is calculated as current assets minus inventory divided by current liabilities. Since the current liabilities have been calculated. Then, we will divide the difference between current assets and inventory by current liabilities so as to determine the quick ratio.
<span>a similar position in the same company with the same pay as their old jobs.</span>