The Intended Use of TARP Funds Was to

question 17

Multiple Choice

The intended use of TARP funds was to

• A)support the FDIC.
• B)increase consumers' disposable income.
• C)fund "shovel-ready" projects.
• D)purchase unwanted securities.

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Definitions:

Accounting Cycle

The collective process of recording and processing the accounting events of a company, from the initial transaction to the preparation of financial statements.

Analyzing Transactions

The process of examining financial transactions to determine their impact on the financial status of an entity.

Ledger

A detailed financial statement showing all the transactions of a business, used to compile the financial statements.

Unadjusted Trial Balance

A list of all the general ledger accounts and their balances at a specific time before any adjusting entries are made.