Which of the Following Is True Regarding the Federal Trade

question 19

Multiple Choice

Which of the following is true regarding the Federal Trade Commission (FTC) ?

• A) This important regulator was set up in the Populist era.
• B) The president nominates its seven commissioners.
• C) The Senate has to approve the commissioners.
• D) Each commissioner serves a five-year term.

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Definitions:

Regulatory Control

The oversight and enforcement of rules and regulations by a governing body to ensure adherence to lawful standards and protect public interests.

Sole Proprietor

The single owner of an unincorporated business, personally responsible for all debts and obligations of the business.

Good Will

The favorable reputation of a business that adds to its value, often considered an intangible asset.

Partnership

A lawful business arrangement involving two or more people who divide management responsibilities and profits.