Since the Great Depression and Still Today,the Bank of Bramblewood

question 175

Multiple Choice

Since the Great Depression and still today,the Bank of Bramblewood has the FDIC designation.This means:

• A)Bank of Bramblewood is a member of a consortium of banks that can pool funds to make loans too big for any single bank to finance.
• B)bank gives preference to veterans.
• C)the depositors of the bank are also its owners.
• D)individual accounts at Bank of Bramblewood are insured by an independent agency of the federal government.

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Definitions:

Common Stock

A type of security that represents ownership in a corporation, entitling holders to vote on corporate matters and receive dividends.

Extraordinary Gain

Income from events that are both unusual in nature and infrequent in occurrence, excluded from regular business operations when assessing profitability.

Note Receivable

A financial claim against another party that is evidenced by a written promise to pay a specified sum of money on demand or at a set time.

Impairment

A decrease in the recoverable value of an asset below its carrying amount on the balance sheet, leading to an adjustment of the book value.