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25 July, 12:51

The Federal Reserve Bank is responsible for replacing torn and worn money with new bills.

a. True

b. False

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Answers (1)
  1. 25 July, 13:00
    0
    True. The Federal Reserve Bank is responsible for replacing torn and worn money with new bills.

    The Federal Reserve Bank is the Central Bank of the United States. Torn and worn money deposited in various commercial banks are sorted and deposited to the commercial bank's account in the Federal Reserve Bank.

    When the commercial bank withdraws from their Federal Reserve Bank account, new bills will be released to them for circulation.
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