Which of the Following Was the First Act That Mandated

question 13

Multiple Choice

Which of the following was the first act that mandated the federal government to pursue policies to achieve full employment, stable prices, and adequate growth?

• A)the Employment Act of 1946
• B)the Federal Reserve Act of 1913
• C)the Humphrey-Hawkins Act of 1978
• D)the McFadden Act of 1927

---

Definitions:

General Ledger

A comprehensive record of all financial transactions over the life of a company, used to compile financial statements.

Cash Receipts

The accumulation of funds, usually through cash or checks, garnered by a company from its operational activities.

Accounts Payable

The amount of money a company owes to its suppliers or creditors for goods or services purchased on credit.

Subsidiary Posting

The process of transferring entries from the journal to the individual ledger accounts, often for the purpose of detailed accounting and tracking.