The ________ Insures Bank Deposits Up to $250,000

question 68

Multiple Choice

The ________ insures bank deposits up to $250,000.

• A)Federal Reserve Board
• B)Federal Deposit Insurance Corporation
• C)U.S.Department of Treasury
• D)Office of Management and Budget

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Definitions:

Ceiling

The maximum limit on the price, wage, or other variable typically set by a government or regulatory body.

Employee Annual Earnings

The total amount of income an employee earns in one year, including wages, salaries, bonuses, and other compensation.

FICA-OASDI

Federal Insurance Contributions Act - Old Age, Survivors, and Disability Insurance; a U.S. payroll tax to fund Social Security and Medicare benefits.

Employee's Portion

The part of payroll taxes and other deductions that employees are responsible for, which is withheld from their wages.