Which of the Following Statements Is True

question 46

Multiple Choice

Which of the following statements is true?

• A)The Federal Reserve System was established by the U.S.Constitution.
• B)The Federal Reserve System was established immediately after the Civil War.
• C)The Federal Reserve System was established in 1913.
• D)The Federal Reserve System was established during the Great Depression.
• E)The Federal Reserve System was established immediately following World War II.

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Definitions:

Liability

The financial liabilities or obligations that a company legally incurs in the course of conducting its business.

Savings Account

A deposit account held at a financial institution that provides principal security and a modest interest rate.

Semiannual Payments

Payments made twice a year, often used in the context of bond interest payments or certain types of loans.

Compounded Semiannually

Interest calculation method where interest is added to the principal sum of a deposit or loan twice a year, resulting in interest earning interest.