If a bank has $1 million in assets and $50,000 in net worth,its liabilities must equal:
A) $50,000.
B) $1,050,000.
C) $50 million.
D) $1,000,000.
E) $950,000.
Correct Answer:
Verified
Q20: Banks act as financial intermediaries by:
A)bringing together
Q21: Suppose a bank has $8,000 in checkable
Q22: Suppose a bank has $6,000 in checkable
Q23: A bank's net worth is:
A)equal to assets
Q24: Banks help to overcome the problem of
Q26: When a customer deposits $1,000 in a
Q27: If a bank has $6,000 in checkable
Q28: Which of the following is true of
Q29: On a bank's balance sheet,the value of
Q30: A bank can legally hold reserves as:
A)gold
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