Which Statement About Regulatory Agencies Is Correct

question 42

Multiple Choice

Which statement about regulatory agencies is correct?

• A) Since the 1990s,approximately ten new regulatory agencies have been created by Congress.
• B) No new regulatory programs have been established since the 1970s.
• C) The last new regulatory agency was created in 1945.
• D) In 1996,the last federal regulatory agency was terminated by Congress.
• E) Since the 1960s,all new regulatory agencies have been placed outside existing departments and are not responsible to the president.

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Definitions:

Maturity Date

The specific date on which the principal amount of a financial instrument, such as a bond or loan, becomes due and payable.

Term

A fixed or limited period for which something, such as an investment, insurance policy, or lease, lasts or is intended to last.

Direct Write-Off Method

An accounting method where uncollectible accounts receivable are directly written off against income at the time they are determined to be uncollectible.

Allowance Method

An accounting technique used to estimate bad debts (uncollectible accounts receivable) and represent them in financial statements.