Which of the Following Is Correct

question 24

Multiple Choice

Which of the following is correct?

• A)The Federal Reserve has 14 regional banks.The Board of Governors has 12 members who serve 7-year terms.
• B)The Federal Reserve has 14 regional banks.The Board of Governors has 7 members who serve 14-year terms.
• C)The Federal Reserve has 12 regional banks.The Board of Governors has 12 members who serve 7-year terms.
• D)The Federal Reserve has 12 regional banks.The Board of Governors has 7 members who serve 14-year terms.

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Definitions:

Joint Ventures

A business agreement between two or more parties to develop a new entity and new assets by contributing equity.

Common Laws

Laws that have developed through court decisions, traditions, and legal precedents rather than through legislative statutes.

Agency

A legal relationship in which one party (the agent) acts on behalf of another party (the principal) in dealing with third parties.

Limited Liability Partnership

A limited liability partnership (LLP) is a legal entity where partners have limited liabilities, protecting their personal assets from business debts and obligations.