Which President Signed Legislation Creating the Federal Reserve System in 1913

question 79

Multiple Choice

Which president signed legislation creating the Federal Reserve system in 1913?

• A) William Taft
• B) Theodore Roosevelt
• C) Woodrow Wilson
• D) William McKinley

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Definitions:

Reconcile

is the process of ensuring that two sets of records (usually the balances of two accounts) are in agreement, often used in banking and accounting.

Variable Costing

An accounting method that only includes variable costs (costs that change with production levels) in product costs.

Absorption Costing

An accounting method that allocates all manufacturing costs, including both fixed and variable costs, to the product, used for external financial reporting and tax purposes.

Contribution Format

A type of income statement format that separates fixed costs from variable costs to highlight the contribution margin.