Amendments to the Securities Exchange Act in 1975 Required Any

question 82

Multiple Choice

Amendments to the Securities Exchange Act in 1975 required any exchange or over-the- counter market to .

• A) register each individual market transaction with the Securities and Exchange Commission
• B) obtain advance approval from the Securities and Exchange Commission prior to any rule changes
• C) report profits and losses to the Securities and Exchange Commission on a monthly basis
• D) cease all trading activity in times of severe recession

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Definitions:

Bank Service Charges

Fees charged by a bank for the handling of accounts, provision of services, or the execution of transactions.

Journal Entries

The basic method of recording financial transactions in the accounts of a business using a double-entry bookkeeping system.

Cash Sales

Transactions where payment is made in cash at the time of sale, immediately impacting a company's cash balance.

Deposits In Transit

Funds that have been deposited by a company but not yet recorded by the bank, leading to discrepancies in account balances.