Which of the Following Statements Is Most Correct

question 143

Multiple Choice

Which of the following statements is most correct?

• A)The National Banking Act of 1894 has long lost any relationships to modern bank regulation.
• B)The Federal Reserve System was created in large measure to force state chartered banks into conformity with nationally chartered banks.
• C)"Wildcat banking" during the first half of the 1800s referred to risky banking practices by many state banks, such as excessive note issues, lack of adequate bank capital, and insufficient reserves against their notes and deposits.
• D)All the above statements are equally correct.

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Definitions:

Financial Reports

Detailed statements that provide information on a company's financial performance and position over a specific period.

Stockholders' Equity

The interest left in a corporation's assets, after removing its obligations, which indicates the ownership share.

Assets

Resources owned by a company that have economic value and can be used to meet its financial obligations.

Liabilities

Financial obligations or debts owed by a business or individual.