Which of the Following Is True

question 148

Multiple Choice

Which of the following is true?

• A) The FDIC sets the reserve requirements for commercial banks.
• B) The Federal Reserve System guarantees the deposits in almost all banks up to a $250,000 limit per account.
• C) Since the Federal Reserve System was established in 1913, bank failures due to panic withdrawals have been virtually eliminated.
• D) If a bank should fail, the FDIC guarantees that depositors can get their funds up to a $250,000 limit per account.

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Definitions:

Aging the Receivables

The process of categorizing accounts receivable according to the length of time an invoice has been outstanding.

Due Date

The specified date by which a payment, assignment, or task is required to be completed or submitted.

Age Groupings

Classification of data or people into groups based on their age.

Interest Revenue

Income earned from lending funds or investing in interest-bearing financial instruments.