Jeff Kaufman decides to bank with Paris First National Bank (PFN). He opens a checking account by depositing 1,000 . According to the PFN balance sheet, after this initial 1,000 checkable deposit, there are 1,000 in:
a. reserves and 1,000 in checkable deposits.
b. liabilities and 2,000 in checkable deposits.
c. checkable deposits and 0 in assets.
d. assets and 0 in liabilities.
e. reserves and 0 in liabilities.
Question 2
Countries are poor because they cannot afford to save and invest is called the:
a. vicious circle of poverty. b. savings-investment trap.
c. LDC trap. d. cycle of insufficient credit.
Checking teeth and other physical examinations are an important part of horse care.
Pacific Silver Fir cone debris from feeding Douglas Squirrels, North Cascades National Park
Example of Reconciling a Bank Statement Cont.