Dissenters Criticized the Majority Report Issued by the Financial Crisis

question 39

Multiple Choice

Dissenters criticized the majority report issued by the Financial Crisis Inquiry Commission (FCIC) on the grounds that the majority ________.

• A) unfairly blamed nontraditional mortgages as the essential cause of the crisis
• B) failed to identify systematic breakdown in accountability and ethics as one of the essential causes of the crisis
• C) unfairly blamed the credit bubble for the crisis
• D) ignored evidence of a crisis in Europe at the same time as the one in the United States

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Definitions:

Book Value Per Share

A financial measure that indicates the value of a company's equity as represented in its shares, calculated by dividing total shareholders' equity by the number of outstanding shares.

Market Price

The current price at which an asset or service can be bought or sold.

Common Share

A type of equity ownership in a corporation, representing a fraction of the total ownership, where each share entitles the holder to a vote at company meetings and a share in the company’s profits.

Acid-Test Ratio

A liquidity ratio measuring a company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.