Statement I: with the Passage of the Riegle-Neal Interstate Banking

question 266

Multiple Choice

Statement I: With the passage of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994,the last barriers against opening branches in different states were swept away.
Statement II: Until 1995 interstate banking was legal.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Decision Usefulness

The quality of financial information that helps users make informed decisions regarding investment, credit, and similar activities.

General Objective

The overarching, broad goal that guides decision making and strategy within an organization or project.

Derived External User Objective

A goal or requirement for financial information that is created based on the needs of external users of financial statements.

Derived Company Objective

Strategic goals or intentions that are developed based on an analysis of a company's environment and internal capabilities.