The Federal Reserve Is Empowered to Encourage Depository Institutions to Help

question 51

Multiple Choice

The Federal Reserve is empowered to encourage depository institutions to help meet the needs of communities for housing and other purposes

• A) through the Community Reinvestment Act.
• B) through the Truth in Lending Act.
• C) by a provision of the Fair Housing Act.
• D) by strictly enforcing usury laws setting maximum interest rates.

Understand the new accounting standards for leases (AASB 16/IFRS 16) and their requirements.

Calculate lease receivable amounts at the inception of a lease.

Determine the present value of lease payments under finance lease agreements.

Identify the scope and exclusions of AASB 16/IFRS 16 regarding lease agreements.

---

Definitions:

Arbitrary

Based on random choice or personal whim, rather than any reason or system.

Continuous Data

Data that can take on any value within a given range, as opposed to discrete data which can only take on specific values.

Equal Space

The provision or allocation of the same amount of physical or metaphorical room to different parties, ideas, or entities.

Central Tendency

Central tendency refers to a central value or a typical value for a probability distribution. It is a measure that attempts to describe a set of data by identifying the central position within that set of data. The most common measures of central tendency are the mean, median, and mode.