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In Business / College | 2025-07-03

Financial institutions must maintain records for the sale of monetary instruments in cash between:
A. $0 and $10,000
B. $3,000 and $10,000
C. $3,000 and $25,000
D. $5,000 and $10,000

Asked by srpothula08

Answer (2)

Analyze the question and identify that it is a multiple-choice question about financial record-keeping requirements.
Based on general knowledge, select the option with a starting threshold of $3,000.
Identify option B as the correct range: $3,000 and $10,000.
Conclude that the answer is B.

Explanation

Problem Analysis We are asked to identify the correct range of cash transactions involving monetary instruments that financial institutions are required to maintain records for. This is a multiple-choice question, and without specific financial regulations or context, I will make an assumption based on common regulatory practices.

Selecting the Correct Range Based on general knowledge of financial regulations, a common threshold for reporting and record-keeping is around $3,000. Therefore, I will choose the option that includes a range starting from $3,000.

Identifying the Answer Option B states the range as $3,000 and $10,000.

Final Answer Therefore, the correct answer is B.


Examples
Understanding the requirements for financial record-keeping is crucial in preventing financial crimes such as money laundering. For example, if a business sells money orders, they need to keep records of cash transactions above a certain threshold to help authorities track suspicious activities. This ensures that large sums of money cannot be moved anonymously, which could be used to finance illegal operations. Knowing these regulations helps maintain the integrity of the financial system.

Answered by GinnyAnswer | 2025-07-03

The correct answer to the question about financial record-keeping requirements for cash transactions involving monetary instruments is option B, which covers the range from $3,000 to $10,000. This threshold is significant for maintaining compliance with financial regulations. Record-keeping in this range helps to prevent financial crimes such as money laundering.
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Answered by Anonymous | 2025-07-04

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