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Ipatiy [6.2K]
3 years ago
12

The banking panic of 1907 and the resulting cash shortage led to the formation of the: A. Federal Reserve System.B. Comptroller

of the Currency.C. Gold standard for currency, and the establishment of gold repository at Fort Knox.D. FDIC.
Business
1 answer:
AlekseyPX3 years ago
5 0

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.

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A series of five payments in constant dollars, beginning with $6,000 at the end of the first year, are increasing at the rate of
beks73 [17]

Answer:

The equivalent present worth of the series is $27,714.

Explanation:

We have a series of five payments (n=5), paid at the end of the year, starting with $6,000 and increasing at a rate of 5% per year.

The inflation rate is 4% and the market interest rate is 11%.

The equivalent present worth of the series, where we take into account yearly increments and discount the value by inflation and interest rate, is:

PV=\sum_{k=1}^5\frac{C_0(1+h)^{n-1}}{(1+i)^n(1+r)^n} \\\\PV=\frac{C_0}{(1+h)} \sum_{k=1}^5(\frac{(1+h)}{(1+i)(1+r)})^n

Where:

h: increment in the payments (5%)

i: rate of inflation (4%)

r: market interest rate (11%)

Then,

\frac{(1+h)}{(1+i)(1+r)}=\frac{1.05}{1.04*1.11}=\frac{1}{1.10} =0.91 \\\\\\PV=\frac{C_0}{(1+h)} \sum_{k=1}^5(\frac{(1+h)}{(1+i)(1+r)})^n\\\\PV=\frac{6,000}{1.05} \sum_{k=1}^50.91^n\\\\PV=5,714.3*(0.91+0.83+0.75+0.68+0.62)\\\\PV=5,714.3*3.8\\\\PV=21,714.3

7 0
3 years ago
Which of the following factors increases pressures for cost reductions? a. Meaningful differentiation between products b. Reduce
Finger [1]

Answer:

c. Persistent excess capacity

Explanation:

Cost reduction is a process of reducing expenditure in a planned manner. The process of cost reduction requires continuity of cost analysis. The elements which are not of any use or contribute anything to the factors of the production are eliminated through this process. The elements of cost are examined critically before their elimination.

8 0
2 years ago
Birk Camera Shop Inc. uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31.
Kitty [74]

Answer:

$4,373

Explanation:

we will check lower of cost or market for individual items:

Minolta :

= Market value per unit × No. of units

= 158 × 5

= $790

Canon :

= Cost per unit × No. of units

= 145 x 7

= $1,015

Vivitar:

=  Market value per unit × No. of units

= 114 x 12

= $1,368

Kodak:

= Cost per unit × No. of units

= 120 x 10

= $1,200

Total amount should be reported on Brik Camera Shop's financial statements:

= $790  + $1,015  + $1,368  + $1,200

= $4,373

4 0
2 years ago
Even though local newspapers are very inexpensive, people rarely buy more than one of them each day. This fact: Select one: a. i
ddd [48]

Implies that, for most people, the marginal benefit of reading a second newspaper is less than the marginal cost is the fact.

<h3>What is newspaper?</h3>

Newspaper is the paper that consist of the news in it, it publishes on the daily basis with the different news, there are different kind of news present in the paper like local news, international news, celebrities news, headline, exclusive news and others.

Thus, option C is correct.

For further details about Newspaper, click here:

brainly.com/question/14606545

#SPJ1

7 0
2 years ago
On May 1, 2017, Pronghorn Company issued 2,500 $1,000 bonds at 102. Each bond was issued with one detachable stock warrant. Shor
dybincka [34]

Answer:

a. Prepare the entry to record the issuance of the bonds and warrants

May 1, 2017, bonds issuance

Dr Cash 2,550,000

Dr Discount on bonds payable 25,000

    Cr Bonds payable 2,500,000

    Cr Additional paid in capital - stock warrants 75,000

b. Assume the same facts as part (a), except that the warrants had a fair value of $30. Prepare the entry to record the issuance of the bonds and warrants.

May 1, 2017, bonds issuance

Dr Cash 2,550,000

    Cr Bonds payable 2,500,000

    Cr Premium on bonds payable 20,000

    Cr Additional paid in capital - stock warrants 30,000

Detachable warrants must be recorded separately than the bonds. They must be recorded as APIC stock warrants.

4 0
3 years ago
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