The Federal Open Market Committee

question 40

Multiple Choice

The Federal Open Market Committee

• A) typically buys and sells long-term corporate bonds
• B) implements the most powerful and flexible monetary policy tool of the Fed
• C) works out of Washington D.C.
• D) deals with most of the commercial banks of the nation

---

Definitions:

Internal Control Systems

Processes and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Financial Results

The outcomes of a company's operations and activities in terms of profit or loss, revenue, and expense over a specific period.

Audit Committee

A subset of a company's board of directors that oversees financial reporting and disclosure.

Review And Reconciliation

The process of verifying the accuracy of financial records by comparing two sets of data or accounts to ensure they match.