Author Question: What is an income statement? What will be an ideal response?[br][br][b][color=black]Question ... (Read 41 times)

sarasara · **on:** Jun 29, 2018

What is an income statement?

What will be an ideal response?

Question 2

The Federal Reserve responded to the 2008 financial crisis in several ways. Which of the following is one of the ways the Fed responded?

A) The Fed helped Citibank to acquire General Motors and Chrysler.
B) The Fed lowered the required reserve ratio on demand deposit accounts in order to increase the amount of bank reserves.
C) The Fed banned investment banks from obtaining discount loans.
D) The Fed lent investment banks Treasury securities in exchange for mortgage-backed securities.

jharrington11 · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

An income statement is a financial statement that shows a firm's revenues, costs, and profit over a period of time.

Answer to Question 2

D