To Encourage Common Banking Standards and Formulate Broad Supervisory Guidelines

question 53

Multiple Choice

To encourage common banking standards and formulate broad supervisory guidelines and oversight practices at foreign banks,__________ was established in 1974.

• A) the Basel Committee on Banking Supervision
• B) Section 301 of the Trade Act
• C) the World Trade Organization
• D) the International Control Act

---

Definitions:

Face Value

The nominal value printed on a bond or other financial instrument, independent of its market value.

Bonds Payable

A financial accounting term that refers to the outstanding debts a company owes to holders of its bond securities, due for repayment at some future date.

Premium

An amount paid for an insurance policy or the amount by which a bond or stock's price exceeds its face value.

Journal Entry

A record in financial accounting that documents a business transaction in the accounting records.