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Term1/20
What is money in a checking account called
Definition1/20

Money in a checking account is called demand deposit.

Term1/20
In which year was the Federal Reserve System created
Definition1/20

1913

Term1/20
What type of tax is placed on the value of inherited property
Definition1/20

inheritance

Term1/20
On which type of form can the best indicators of wealth be shown
Definition1/20

balance sheet

Term1/20
This form of business organization is used by some professional workers like doctors and lawyers
Definition1/20

Partnership

Term1/20
In times of rising prices the purchasing power of money falls affecting which of these
Definition1/20

INFLATION

storehouse of value

Term1/20
Which of these describes a time deposit
Definition1/20

Money in a savings account is an example of a time deposit.

Term1/20
This function of money is accepted for buying clothes gas for your car or a ticket to the big game
Definition1/20

medium of exchange

Term1/20
Which of these functions of money allows people to save their money to use in the future
Definition1/20

Storehouse of value. (:

Term1/20
Why do small banks in remote locations sometimes become a subsidiary of a larger bank
Definition1/20

To offer more services to the general puclic

Term1/20
Which of these reasons was most likely the single cause of the stock market crash
Definition1/20

margin requirement

Term1/20
Only one person is liable if the business fails
Definition1/20

proprietorship

Term1/20
What describes a demand deposit
Definition1/20

money in a checking account

Money in a checking account <3333

Term1/20
Is an organization that produces and distributes a good or service for profit called a business yes or no
Definition1/20

Yes

Term1/20
Would the electric company b most likely be a profit or nonprofit corporation
Definition1/20

The electric company would have to be a for profit company, they provide a service at a marked up price, making them for profit.

Term1/20
Which of these is a suitable substitute used for trade barter fiat money coins and paper money
Definition1/20

Fiat money is a suitable substitute used for trade barter.

Term1/20
Which of these was one of the chief reasons for bank failures in 1929-1930
Definition1/20

Banks were not holding required reserves to cover withdrawals.

Term1/20
Is a partnership firm has any legal entity
Definition1/20

No, a partnership firm has no legal entity. Registering the partnership firm means registering the partnership relation. firm has no separate legal entity.

Term1/20
Which tools does the government use to regulate and keeps banks from over extending themselves
Definition1/20

Require assets

Term1/20
Which of the following is the best description of a consumer good
Definition1/20

It is something tangible that can be touched or carried

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Cards in this guide (20)
What is money in a checking account called

Money in a checking account is called demand deposit.

In which year was the Federal Reserve System created

1913

What type of tax is placed on the value of inherited property

inheritance

On which type of form can the best indicators of wealth be shown

balance sheet

This form of business organization is used by some professional workers like doctors and lawyers

Partnership

In times of rising prices the purchasing power of money falls affecting which of these

INFLATION

storehouse of value

Which of these describes a time deposit

Money in a savings account is an example of a time deposit.

This function of money is accepted for buying clothes gas for your car or a ticket to the big game

medium of exchange

Which of these functions of money allows people to save their money to use in the future

Storehouse of value. (:

Why do small banks in remote locations sometimes become a subsidiary of a larger bank

To offer more services to the general puclic

Which of these reasons was most likely the single cause of the stock market crash

margin requirement

Only one person is liable if the business fails

proprietorship

What describes a demand deposit

money in a checking account

Money in a checking account <3333

Is an organization that produces and distributes a good or service for profit called a business yes or no

Yes

Would the electric company b most likely be a profit or nonprofit corporation

The electric company would have to be a for profit company, they provide a service at a marked up price, making them for profit.

Which of these is a suitable substitute used for trade barter fiat money coins and paper money

Fiat money is a suitable substitute used for trade barter.

Which of these was one of the chief reasons for bank failures in 1929-1930

Banks were not holding required reserves to cover withdrawals.

Is a partnership firm has any legal entity

No, a partnership firm has no legal entity. Registering the partnership firm means registering the partnership relation. firm has no separate legal entity.

Which tools does the government use to regulate and keeps banks from over extending themselves

Require assets

Which of the following is the best description of a consumer good

It is something tangible that can be touched or carried

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