What Was One of the Goals of the Passage of the Dodd-Frank

question 20

Multiple Choice

What was one of the goals of the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010?

• A)Remove the restriction on the paying of interest on demand deposits that had been established with Regulation Q.
• B)Impose interest rate ceilings on a variety of bank deposit accounts.
• C)Offer "gifts" in exchange for deposits.
• D)Create new financial products that were not technically demand deposits.

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Definitions:

Ending Inventory

The value of goods available for sale at the end of an accounting period.

LIFO Reserve

The difference between the cost of inventory calculated using the Last-In, First-Out method and the First-In, First-Out method.

FIFO Inventory Costs

An accounting method where the oldest inventory items are recorded as sold first.

LIFO Inventory Costs

An inventory valuation method where the last items placed in inventory are the first ones to be used or sold, affecting cost of goods sold and inventory value.