The Enron Scandal

question 73

Multiple Choice

The Enron scandal:

• A) led to the impeachment of Bill Clinton.
• B) resulted in the decline of organized labor.
• C) occurred because of lax enforcement of the Glass-Steagall Act.
• D) was one result of the repeal of the Glass-Steagall Act.
• E) restored American confidence in the stock market.

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Definitions:

Time of Payment

The specific period or date by which payment for goods or services is due or expected.

Fixed Future Time

A specific date or time in the future that is agreed upon for the completion of a transaction or event.

Words of Negotiability

Specific phrases or terms stipulated in a financial instrument that allow it to be transferred or negotiated from one party to another.

Check 21

Legislation that allows banks to handle more checks electronically, which speeds up the check clearing process by creating a digital version of the original paper check.