Bank Reports Quiz

Who needs bank reports for wise and judicious action?

• Bank Directors and Officers

• Government Officials

• General Public

• Bank Customers

What is the purpose of the Monetary Board requiring independent auditors?

• To attract investors

• To ensure compliance with regulations

• To manage bank assets

• To increase bank profits

How often must banks publish their financial condition?

• Once a year

• Once a month

• At least once every quarter

• Every week

What type of bank report is usually issued for publication?

• Real bank statement

• Detailed bank statement

• Condensed bank statement

• Annual report

What does 'Due from Bank' represent?

• Deposits with other banks

• Government securities

• Loans given to customers

• Cash on hand

What is included in 'Other Cash Resources'?

• Loans and discounts

• Cash on hand

• Government securities

• Exchanges for the clearing house

What does 'Customer's Liability under Letters of Credit' signify?

• Obligation to reimburse the bank

• Deposits made by customers

• Loans granted to customers

• Bank's capital stock

What is a major item on the bank's asset side?

• Certified checks

• Time Deposits

• Cashier's checks

• Loans and Discounts

What does 'Reserve for Accrued Taxes' represent?

• Depositor's claims

• Future tax payments

• Current liabilities

• Bank's capital stock

What is the purpose of the bank's profit and loss statement?

• To summarize bank liabilities

• To detail financial transactions

• To show the bank's assets

• To report on customer deposits