Which of the following is true of the Glass-Steagall Act?
A. The act provides authority to the Federal Reserve to regulate bank holding companies and prevent them from branching out.
B. The act enables banks to engage in more non-banking activities by operating subsidiaries.
C. The act prohibits banks to own subsidiary firms that sold products other than banking services.
D. The act encourages banks to meet the credit needs of their communities.
Answer: C
You might also like to view...
For which type of inventory would a company most likely use the specific identification method?
a. Barbie dolls b. Cartons of milk c. Custom designed diamond rings d. Gasoline in storage tanks at a gasoline station
________ are errors that can be attributed to sources other than sampling, and they can be random or nonrandom
A) Random sampling error B) Non-response error C) Non-sampling error D) Response error
______ is a forecasting method in which it is assumed that the demand in the next period will be the same as it is in the current period.
A. Moving average B. Naive approach C. Simple average D. Sales force opinion
Most states prohibit corporations from paying a dividend if a deficit will occur
Indicate whether the statement is true or false