Which of the Following Statements About the Financial Services Industry

question 47

Multiple Choice

Which of the following statements about the financial services industry is not true?

• A)It is an information-intensive industry.
• B)It has been revolutionized more than any other industry by advances in information technology since the 1970s.
• C)It is now technologically possible for financial services companies to engage in 24-hour-a-day trading.
• D)It saw the real cost of recording,transmitting,and processing information increase by 25 percent between 1964 and 1990.

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Definitions:

Quarterly Basis

A time frame used for financial processes, including tax payments and reporting, divided into four equal parts over the year.

FUTA

The Federal Unemployment Tax Act (FUTA) is a United States federal law that imposes a payroll tax on employers to fund state workforce agencies and unemployment insurance.

Medicare Taxes

Taxes that fund Medicare, a federal health insurance program, deducted from the paychecks of employees and also paid by employers.

Wages

Wages refer to the monetary compensation paid by an employer to an employee in exchange for work performed.