Which of the Following Statements Is True

question 46

Multiple Choice

Which of the following statements is true?

• A)The Federal Reserve System was established by the U.S.Constitution.
• B)The Federal Reserve System was established immediately after the Civil War.
• C)The Federal Reserve System was established in 1913.
• D)The Federal Reserve System was established during the Great Depression.
• E)The Federal Reserve System was established immediately following World War II.

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Definitions:

Maturity Date

The specified date on which the final payment of a loan or financial instrument, such as a bond, is due and payable.

Notes Payable

Written promises to pay specified sums of money at future dates, categorized as liabilities.

Annual Interest

The amount of interest due over the course of a year on a loan or financial investment.

Merchandise

Goods bought and sold in business operations, often referred to as stock or inventory.