Which of These Is Related to the Federal Reserve System

question 31

Multiple Choice

Which of these is related to the Federal Reserve System? I. The Federal Reserve Act of 1913
II) Employment Act of 1946
III) Sherman Antitrust Act of 1890
IV: International Banking Act of 1978
V: Civil Rights Act of 1964
VI: Full Employment and Balanced Growth Act of 1978

• A) I, II, III, and IV only
• B) II, III, V, and VI only
• C) I, II, IV, and VI only
• D) III, IV, V, and VI only

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Definitions:

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead costs to individual units of production.

Factory Overhead

The indirect costs involved in manufacturing beyond direct materials and labor costs, including expenses like equipment maintenance, utilities, and factory management salaries.

Machine Hours

Machine hours refer to the total time that a piece of machinery or equipment is operated within a specific period, often used as a basis for allocating manufacturing overhead costs.

Perpetual System

An inventory management system that continuously updates inventory records, reflecting purchases and sales in real-time.