Briefly Explain the Four Main Elements of the Wall Street

question 28

Essay

Briefly explain the four main elements of the Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act).

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Definitions:

Cheque

A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer.

Invoice

A document indicating the sale transaction and requesting payment for goods or services provided.

ROG

Receipt of Goods, a term used in supply chain management and accounting to denote the time at which goods are received, which may trigger payment or recording processes.

Settle

To pay off or resolve, often referring to clearing a debt or reaching an agreement.