The Agency That Was Created to Protect Depositors After the Banking

question 87

Multiple Choice

The agency that was created to protect depositors after the banking failures of 1930-1933 is the

• A)Federal Reserve System.
• B)Federal Deposit Insurance Corporation.
• C)Treasury Department.
• D)Office of the Comptroller of the Currency.

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Definitions:

Financial Statement

A formal record of the financial activities and position of a business, individual, or other entity, typically including the balance sheet, income statement, and cash flow statement.

Taxable Income

The amount of income used to calculate how much the government can tax an individual or a company, after all deductions and exemptions have been factored in.

Tax Considerations

Factors related to taxation that must be taken into account when making investment or business decisions.

Vendor

A person or company offering something for sale, especially a trader in the goods market.