Answer:
B. probably pay more than if you had submitted a noncompetitive bid.
Explanation:
The Federal Reserve System ( popularly referred to as the 'Fed') was created by the Federal Reserve Act, passed by the U.S Congress on the 23rd of December, 1913. The Fed began operations in 1914 and just like all central banks, the Federal Reserve is a United States government agency.
Generally, it comprises of twelve (12) Federal Reserve Bank regionally across the United States of America.
The buying and selling of bonds owned by government by the Federal Reserve is generally referred to as open market sales.
An open market sale of U.S. Treasury securities by the Fed will cause the Banking System's balance sheet to show no net change in assets or liabilities, only a change in the composition of assets with securities increasing and reserves decreasing.
If your competitive bid that involves having other investors bidding for a Treasury bill is successful, then you will probably pay more than if you had submitted a noncompetitive bid.
B. probably pay more than if you had submitted a noncompetitive bid.
Correct me if im wrong ^_^
Answer:
Statement is true
Explanation:
Internal control over financial reporting was designed to give assurance related to financial statements preparation and authenticity of financial reporting.
Material weakness refers to inefficiency in internal control which could lead to misstatement in financial statement thereby making financial reporting unreliable. As such, even one material weakness would prove ineffective internal control over financial reporting.