The FDIC Traditionally Protects Depositors Up to $100,000 Per Account

question 12

True/False

The FDIC traditionally protects depositors up to $100,000 per account. Temporarily, the amount was increased to $250,000 per account through December 2009.

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Definitions:

Fixed Assets

Long-term tangible assets that are used in the operations of a business and are not expected to be consumed or converted into cash in the short term.

Annual Report

A comprehensive report on a company's activities and financial performance throughout the preceding year, intended for shareholders and stakeholders.

Impaired Goodwill

Impaired goodwill occurs when the market value of a company's goodwill asset falls below its recorded value on financial statements, prompting a write-down to reflect the reduced value.

Amortization

The method of slowly amortizing the initial expense of a non-physical asset over the period it is expected to be used.