NOW accounts:
a. are not subject to ceiling rates under Regulation Q
b. enable depository institutions to compete effectively for funds that were flowing in large amounts to money market funds
c. typically pay interest rates equal to that paid by money market funds
d. all the above
Ans: b. enable depository institutions to compete effectively for funds that were flowing in large amounts to money market funds
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Billy's accountant made an error, and the budget has been reduced from $3000 to $2500. Billy's profit will go down by:
A) $0. B) $625. C) $1350. D) $1650.
Cash flow from operations includes all of the following adjustments to net income EXCEPT
A) purchases of new equipment. B) depreciation. C) increase or decrease in current liabilities. D) increase or decrease in current inventory.