Dakota company experienced the following events during year 2. acquired $15,000 cash from the issue of common stock. paid $15,000 cash to purchase land. borrowed $5,000 cash. provided services for $55,000 cash. paid $2,000 cash for utilities expense. paid $45,000 cash for other operating expenses. paid a $1,000 cash dividend to the stockholders. determined that the market value of the land purchased in event 2 is now $16,000.

Which of the following makes a true statement about the relationship between government and financial institutions? government and financial institutions do not interact with each other. financial institutions like the u.s. treasury must approve increases in the government deficit. government can pass laws to limit what financial institutions can charge in interest and fees. financial institutions like local banks must approve interest rates set by the federal reserve.