Collateral Is Required Against Each of the Following Liabilities except

question 2

Multiple Choice

Collateral is required against each of the following liabilities except ________.

• A) securities sold under agreement to repurchase
• B) borrowings from the Federal Reserve discount window
• C) U.S. Treasury securities
• D) public deposits owned by the U.S. Treasury
• E) Federal Home Loan Bank advances

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Definitions:

Labor Efficiency Variance

The difference between the actual labor hours used and the standard hours expected for a level of output.

Direct Labor Standards

Refer to the pre-determined amount of labor time and labor cost that should be used for producing a unit of product or service.

Work in Process Inventory

The value of goods in various stages of production within a manufacturing company, not yet completed as finished goods.

Raw Materials Used

The total cost or value of all primary materials consumed in the production process over a specified period.