Consider the following balance sheet for the wahoo bank. use it to answer the two questions that follow. use a required reserve ratio of 10% and assume that the bank keeps no excess reserves. what will change on the balance sheet if the fed buys $800 in government securities from the bank? wahoo bank balance sheet assets liabilities and net worth government $1,600 liabilities: securities required reserves excess reserves loans $400 $0 checking deposits $4,000 $1,000 $3,000 net worth total assets $5,000

Which of the following statements is correct? a major disadvantage of a partnership relative to a corporation is the fact that federal income taxes must be paid by the partners rather than by the firm itself. in a typical partnership, liability for other partners’ misdeeds is limited to the amount of a particular partner’s investment in the business. true in a limited partnership, the limited partners have voting control, while the general partner has operating control over the business, and the limited partners are individually responsible, on a pro rata basis, for the firm’s debts in the event of bankruptcy. partnerships have more difficulty attracting large amounts of capital than corporations because of such factors as unlimited liability, the need to reorganize when a partner dies, and the illiquidity of partnership interests.