In the United States During the Time Between the Civil

question 76

Multiple Choice

In the United States during the time between the Civil War and the Great Depression:

• A)banks were completely unregulated.
• B)bank runs rarely occurred.
• C)there was no insurance on bank deposits.
• D)there were very few national banks.

---

Definitions:

Interest Payable

A liability account on a company's balance sheet representing the amount of interest expense that has been incurred but not yet paid as of the reporting date.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditures to the correct period.

Effective Interest Method

An accounting practice used to allocate bond premiums or discounts over the life of the bond.

Straight-Line Amortization

A method of allocating an intangible asset's cost evenly across its useful life, resulting in a consistent expense amount each period.