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Daniel [21]
3 years ago
5

A banking system with a reserve ratio of 20% and a change in reserves of $1 million can increase its total demand deposits by:A.

$200,000.B. $5 million.C. $1 million.D. $800,000.
Business
1 answer:
blondinia [14]3 years ago
3 0

Answer: option B is correct

Explanation: In simple words demand deposit is similar to those funds held in a checking account. Demand deposits serves as the base of the money supply of the country.

Demand deposit can be computed using following formula :-

=\:\frac{demand\:deposit}{required\:reserve\:ratio}

=\:\frac{1,000,000}{20\%}=\:\$5,000,000

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nirvana33 [79]

Answer

$31,000

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(c) $31,000

Explanation:

As per IRS for Earnings of Clergy, A licensed, commissioned, or ordained minister who performs ministerial services as an employee may be able to exclude from gross income the fair rental value of a home provided as part of compensation (a parsonage) or a housing allowance provided as compensation if it is used to rent or otherwise provide a home. In order to be able to exclude the housing allowance from income, the minister's employing organization must officially designate the housing allowance as such before paying it to the minister.The fair rental value of a parsonage or the housing allowance is excludable only for income tax purposes, and not for Self-employment tax purpose.

In the given case, the church did not designate any of Luke's salaries as a housing allowance. Hence it is not deductible from Gross Income for Income Tax Purposes and irrespective of designation or not, it is not deductible for self-employment tax.

Thus, Full salary of Luke i.e $31,000 must be included when figuring net income for self-employment tax.

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3 years ago
Joana volunteers to deliver a last-minute presentation on behalf of her team. Which quality is Joana demonstrating?
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3 years ago
Read the following paragraph and respond to the questions below.
-Dominant- [34]

Answer:

a. The number sentence that is the topic sentence is sentence (1).

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The purpose of the topic sentence is to introduce the theme of the paragraph or the point of view of the writer.  It captures the essence of the story.  As it bears the central idea, it focuses the paragraph to achieve unity.

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Because neutrinos rarely, if ever, interact with my computer.

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