What Happened with S&Ls in 1989

question 6

Multiple Choice

What happened with S&Ls in 1989?

• A)They became the nation's economic success story.
• B)They began to demand reregulation.
• C)They went bankrupt in large numbers and required a $500 billion government bail-out.
• D)They started to take over foreign banks.

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Definitions:

Raw Materials Inventory

The total cost of all components and materials stored and used in the production of finished goods.

Accounts Payable

Liabilities owed by a business to creditors for purchases of goods and services on credit, to be paid in the near term.

Work in Process Inventory

inventory that is in the production process but not yet completed.

Factory Wages Payable

Liabilities for wages owed to manufacturing employees that have not yet been paid.