Which of the Following Was Not a Provision of DIDMCA

question 60

Multiple Choice

Which of the following was not a provision of DIDMCA?

• A)the phase-out of deposit rate ceilings
• B)the allowance of checkable deposits for all depository institutions
• C)the permission of depository institutions to offer money market deposit accounts (MMDAs)
• D)new lending flexibility for depository institutions
• E)all of the above were provisions of DIDMCA

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Definitions:

Merchandise

Goods or products that are bought and sold in business transactions.

Discount Period

The time frame during which a discount is available or applicable, often used in the context of notes payable or receivable.

Sales Returns

Sales returns refer to the process of refunding a customer for the return of goods, which results in a reduction of revenues on the seller's financial statements.