The Office of the Comptroller of the Currency is the main supervisor for
A. national banks that are part of a financial holding company or a bank holding company.
B. national banks that are not in a financial holding company or a bank holding company.
C. state banks that are not members of the Federal Reserve and are not in a financial holding company or a bank holding company.
D. state banks that are members of the Federal Reserve System.
Answer: B
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Answer the following statement true (T) or false (F)
Clearwater Hampers is a small British company that sells luxury food and drink in various combinations in picnic hampers. Food and wine are seen as classic, fail-safe gifts in a market where present-buying is increasingly tricky. Corporate customers, both in the United Kingdom and abroad, are important to the business. Clearwater has had several orders for more than a quarter of a million dollars. According to the company's leading salesperson, Peter Austin, "We have lots of repeat corporate customers as a result of the importance we place on getting the hampers out on time and filled with the right products." Peter Austin is extremely successful and the major reason for his success is the way he handles objections. He believes that effectively handling objections is the key to success in
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Indicate whether the statement is true or false
Peter transfers an office building into a new corporation in exchange for 100 percent of the stock. In addition, the corporation assumes the mortgage on the building. Peter will treat the debt relief as boot and have to recognize gain.
Answer the following statement true (T) or false (F)