The Financial Crisis Occurred in 2008 in Large Part Because

question 105

Multiple Choice

The financial crisis occurred in 2008 in large part because of losses on securities consisting of bundles of mortgage loans known as

• A)home loan loss reserves.
• B)credit default swaps.
• C)mortgage-backed securities.
• D)naked put options.

Learn the impact of Sarbanes-Oxley Act specifically on public companies.

Understand the process and importance of a bank reconciliation.

Recognize the role and importance of internal controls over cash.

Identify how banks and companies manage and report cash and cash equivalents.

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Definitions:

Franklin Delano Roosevelt

The 32nd President of the United States (1933–1945) who led the country during the Great Depression and World War II, known for his New Deal programs.

Crippling Attack

A military or cyber strategy aimed at incapacitating the targeted entity, preventing it from carrying out its functions or operations effectively.

Polio

A highly infectious viral disease that can cause paralysis and in severe cases, death, leading to widespread vaccination efforts in the 20th century.

Assassination Attempt

A deliberate attack aimed at killing a public figure or significant individual, often for political reasons.