FlyingPig14
18.03.2021 •
Business
Question 1 of 10
The purchase journal records all company purchases
A. for services paid in cash
Ο Ο
O O
B. for goods on account
C. for goods paid by check
ОО
D. for services on account
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Ответ:
Required reserve=$36 million
Explanation:
In a fractional banking system, banks are required to maintain a proportion of their total deposit for precautionary reasons by banking authority.
The proportion is known as the required reserve ratio and is always given as a percentage of the total deposit.
The required reserve = required reserve (%) × Total deposit
= 12%× 300 million
=36 million
Required reserve=$36 million