Which Is the Most Accurate Statement

question 348

Multiple Choice

Which is the most accurate statement?

• A)The members of the Fed are appointed by the president and can be made to resign by the president.
• B)The chairman of the Board of Governors of the Fed is elected by the Board to a 4-year term.
• C)Once a Board member has been appointed by the president and confirmed by the Senate,she or he is not answerable to the president or Congress.
• D)There is virtually unanimous opinion that for a group of unelected officials,the Federal Reserve Board has way too much power.

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Definitions:

Net Sales

The revenue generated from sales after deducting returns, allowances for damaged goods, and discounts.

Markup

The amount added to the cost price of goods to cover overhead and profit.

Inventory Turnover

A ratio indicating how fast a company sells and replaces its stock of goods during a particular period.

Net Sales

The total revenue from sales after deducting returns, allowances for damaged or missing goods, and discounts.