The Dodd-Frank Act Was Created by Congress Along with Its

question 106

True/False

The Dodd-Frank Act was created by Congress along with its goals and regulatory responsibility, but it is facilitated by various agencies.

---

Definitions:

Voucher Register

A record or log of vouchers that have been prepared, detailing the authorization of transactions and payments.

Liability

An obligation of the company arising from past transactions or events, the settlement of which may result in the transfer of assets, provision of services, or other yielding of economic benefits in the future.

Accounts Payable

Liabilities representing amounts the company owes to suppliers or creditors for goods and services received but not yet paid for.

Vouchers

Documents representing an internal intent to make a payment to an external party, often used in accounts payable processes.