Which of the Following Is Not True About the Members

question 13

Multiple Choice

Which of the following is not true about the members of the Federal Reserve Board of Governors?

• A) They are appointed to fourteen-year terms by the president of the United States.
• B) They are relatively immune to short-term political pressures.
• C) They may not be reappointed after serving a full term.
• D) They each serve as chairman of the Board of Governors on a rotating basis.

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Definitions:

Statement of Cash Flows

A financial report illustrating the total cash a company acquires through its operational endeavors and external financial sources, in addition to the cash spent on operational and investment activities over a defined period.

Balance Sheet

A financial statement that shows a company's financial position, detailing assets, liabilities, and shareholders' equity at a specific point in time.

Income Statement

A financial report that summarizes the revenues, expenses, and profits/losses incurred during a specific period of time.

Liabilities

Financial obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits.