Members of the Federal Reserve Board

question 6

Multiple Choice

Members of the Federal Reserve Board

• A)serve for variable terms and are exposed to high levels of political pressure.
• B)have no power to refuse congressional requests for information.
• C)are appointed by the president and can be removed by the Senate.
• D)are appointed by Congress and can be removed by Congress.
• E)are appointed by the president and are not subject to removal.

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Definitions:

Inventory

The goods and materials a business holds for the purpose of resale or production.

Depreciation

The accounting process of allocating the cost of tangible assets over their useful lives, reflecting wear and tear, or obsolescence.

Capital Gain/Loss

The profit or loss made from selling an asset for more or less than its purchase price.

Depreciates

The process by which an asset loses value over time, often due to wear and tear, age, or obsolescence, impacting its useful life.