Answer:
Provide a device through which the credit-creating activities of banks can be controlled
Explanation:
The legal reserve requirement is the minimum amount mandated by Central banks for banks to have as their minimum reserves.
The legal reserve requirement is used by the government as a means to control the supply of money in the economy.
If the central bank wants to reduce money supply, it increases the legal reserve requirement and if it wants to increase money supply, it reduces the legal reserve requirement.
A high reserve requirement reduces the amount that banks can make available for loans.
I hope my answer helps you
<span>Credit card has slightly lower interest rate.
Let's take a look at both interest rates for 1 year and see what costs more. First, the credit card at 17% apr compounded monthly.
Each month, 17%/12 interest will be taken. The total interest over the year will be
(1 + 0.17/12)^12 = 1.183891728 times the original debt.
Now let's look at the loan from the parents. Over 1 year, you'll be accumulating 2 interest payments. The formula for the year will be
(1 + 0.09)^2 = 1.1881
Comparing the overall rate between the credit card and the parents, the credit card is slightly lower than the parents.</span>
Answer:
James and Short LLC
Short's capital account on July 1, 20X1 should be recorded at the fair value of contributed property minus the mortgage liability, which the partnership assumed.
Explanation:
The fair value of contributed property is the current market value of the contributed property by Short. It is the market value that will determine how the contributed property can be valued. The market value assumes that the contributed property is being sold in pieces and not as a whole. This is why the value is considered a fair basis for recognizing the capital contribution of Short into the partnership.
Answer:
Cash provided by operating activities $39,650
Explanation:
The computation of the cash provided by operating activities under the direct method is as follows:
Sales Revenue $30,600
Decrease in Account Receivable $4,600
Interest Revenue $5,600
Increase in Interest Receivable - $1,150
Cash provided by operating activities $39,650
We simply applied the above sequence so that the correct value could come
And, the same is to be considered
Answer:
Foreign exchange
Explanation:
The process of converting the currency of one country to another is known as foreign exchange or Forex. Converting or exchanging to a particular currency is buying that currency. One needs to have their home currency or any other currency to convert it to the desired currency.
If both currencies have equal strengths, then one unit of a currency should exchange with one unit of the other. The exchange rate would be one. Since currencies have different strengths, they convert or exchange at different rates.
