Which of the Following Statements Regarding the Bank of the United

question 116

Multiple Choice

Which of the following statements regarding the Bank of the United States is FALSE?

• A) The charter of the Bank was due to expire in 1836.
• B) Nicholas Biddle had the support of Daniel Webster and Henry Clay.
• C) The controversy over the Bank became the leading issue in the 1832 election.
• D) President Jackson ordered the Bank closed before the expiration of its charter.
• E) President Jackson went through several secretaries of the treasury before finding one who would help him weaken the bank.

---

Definitions:

Relevance

A characteristic of financial information that is capable of making a difference in the decisions made by users.

Decision Usefulness

The quality of financial information that helps users make informed decisions regarding investment, credit, and similar activities.

General Objective

The overarching, broad goal that guides decision making and strategy within an organization or project.

Derived External User Objective

A goal or requirement for financial information that is created based on the needs of external users of financial statements.