Which of the following statements is false?
a. a bank's assets are its uses of funds.
b. bank capital is recorded as an asset on the bank balance sheet.
c. the bank's assets provide the bank with income.
d. a bank issues liabilities to acquire funds.

Three pounds of material a are required for each unit produced. the company has a policy of maintaining a stock of material a on hand at the end of each quarter equal to 30% of the next quarter's production needs for material a. a total of 35,000 pounds of material a are on hand to start the year. budgeted purchases of material a for the second quarter would be: