To be recorded as an asset, an item must meet four specific conditions. three of them are: it must have been acquired at measurable cost, it must be obtained or controlled by the entity, and it must have been obtained or controlled in a past transaction. which one of the following is the fourth condition?
a) the item must have a measurable resale valueb) it must be expected to have future economic benefitsc) it must have been fully paid ford) the entity must have a legal document confirming ownership of the item

What is free trade? a. trade that is not subject to taxes or fees b. trade that governments do not interfere with c. trade with a high level of government regulation d. trade between states in the u.s. b

Post test question number 9 for entering the job market

Variable rate cd’s = $90 treasury bills = $150 discount loans = $20 treasury notes = $100 fixed rate cds = $160 money market deposit accts. = $140 savings deposits = $90 fed funds borrowing = $40 variable rate mortgage loans $140 demand deposits = $40 primary reserves = $50 fixed rate loans = $210 fed funds lending = $50 equity capital = $120 a. develop a balance sheet from the above data. be sure to divide your balance sheet into rate-sensitive assets and liabilities as we did in class and in the examples. b. perform a standard gap analysis and a duration analysis using the above data if you have a 1.15% decrease in interest rates and an average duration of assets of 5.4 years and an average duration of liabilities of 3.8 years. c. indicate if this bank will remain solvent after the valuation changes. if so, indicate the new level of equity capital after the valuation changes. if not, indicate the amount of the shortage in equity capital.