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A bank ATM mistakenly dispenses $100 bills instead of $10s: what is likely to happen?
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- 15. Cheques, Demand Drafts are example of question 15 options: Fiat Money Fiduciary Money Credit Money Full Bodied MoneyFind the new deposits when the required reserve ratio is 20% and the initial change in the volume of deposit is 1000!!!Find the New deposit if the required reserve ratio is 20% and the initial change in the volume of deposit is 1000
- Roy does not trust banks and has been keeping his earnings in coffee cans in a freezer. His friend Julia convinces him that banks are safe, and Roy finally opens a chequing account. When he deposits his money into the account that transaction will directly increase the money . FALSE TRUEWhich of the following should prompt a cashier to call a supervisor? a check on which numerical and written amounts do not agree an overly polite customer a check transit number in the upper righthand corner that does not match the electronically encoded number at the bottom of the check all of the aboveExplain in no more than 5 sentences. Why is there is a need to follow certain financial precautions when writing cheques?
- Buying a cup of coffee with a dollar bill represents the use of money as aBOC is Bank of Canada a.) Decrease, not change, increase B.) Decrease, no change, increase C.) Decrease, no change, increase D.) sterilized, unsterilized E.) sterilized, unsterilized F.) buying, selling, dumping, sterilizing G.) Increase decrease no change unsterilizedMatch the columns Protection of your money A. If this is not done, control over finances can be lost and legal issues may arise – such as problems with the South African Revenue Service, non-payment of accounts, etc. Banking is convenient B. A bank provides the owner with documentation which shows all monies received and paid out by the business. This is called a ‘bank statement’ and provides the owner with a concise transaction by transaction outline of monies going into and out of the bank account. Finance becomes readily available C. You may remember the days when your parents stood in long queues paying off telephone, electricity, clothing and other utility accounts. Those days are long gone. Nowadays you can just send a cheque by post, or even better – pay all these beneficiaries with the click of a button over the internet or via your cellular phone. More efficient business practices D. Money in a safe is ‘dead’ money, because it cannot earn interest for…
- Logan has $2,000 in a checking account and wants to buy a new MacBook for $1,100. Logan decides he needs the money in his account to pay his bills next month, so he buys the MacBook by charging the $1,100 to his credit card and paying it off gradually over the next several months. Logan choosing to "save" his cash on hand for bills is:Show mathematically!!!!!Reasons money appear as non-neutrality? Explain.
