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7 - the uses of acquired funds sub section On a bank's...

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Side Area Instructions This page shows available quiz results for your attempt.  Legend Correct Response Incorrect Response Correct Answer Quiz 7: Chapters 13 Quizzes Home           Summary           Submissions Selected   Reports            
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Yun Guo (username: yg2d) To Submissions Attempt 1 Written: Nov 9, 2010 2:28 PM - Nov 9, 2010 3:15 PM Submission View {language cache disabled} A balance sheet is a statement listing the tax liabilities incurred by an individual or a firm. is a statement showing an individual's or a firm's income over a period of time. is a statement showing an individual's or a firm's financial position at a particular point in time. can be constructed for any nonfinancial firm, but cannot be constructed for a financial firm.  sub section On a bank's balance sheet, assets are the sources of acquired funds. by definition equal to the bank's liabilities. those items owed by the bank to depositors and others.
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Unformatted text preview: the uses of acquired funds. sub section On a bank's balance sheet, liabilities are the uses of acquired assets. the sources of acquired funds. by definition equal to the bank's assets. all those items of value owned by the bank. sub section For a bank, net worth is equal to the value of the capital originally invested in the bank by its owners. the value of the buildings and other physical assets the bank owns. the value of everything the bank owns. the difference between the value of the bank's assets and the value of its liabilities. sub section Which of the following is NOT a bank liability? Checkable deposits Borrowings from the Federal Reserve CDs Mortgage loans sub section What is the current limit on balances that are covered by federal deposit insurance? $10,000 $1,000,000 $500,000 $250,000...
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