Which of the Following Is True of the Johnson Act

question 143

Multiple Choice

Which of the following is true of the Johnson Act, passed by Congress in 1934?

• A) The act forbade the government from extending loans to foreign governments that were in default on debts owed to the United States.
• B) By the act, the United States returned to the gold standard.
• C) The act declared a moratorium on war debts owed to the United States.
• D) Through the act, American banks were permitted to open foreign branch banks.

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The total worth of all the goods and materials held in stock by a business at a given time, typically assessed for accounting and sales purposes.