QUESTION 34

1. International accounting standards:

   		make it easy for an international marketer to rely on global balance sheets and income statements
   		are supervised by a special agency of the United Nations
   		all follow GAAP regulations
   		are required for successful international trade
   		do not exist

2. Which of the following statements about the Federal Deposit Insurance Corporation (FDIC) is true?

   		The ceiling on the size of account insured by the FDIC is $10,000.
   		The FDIC bank examiner looks at banks' loan quality, management practices, earnings, liquidity, and whether the bank has enough equity to safely support its activities.
   		Only state banks, not national banks, are required by law to be insured by the FDIC.
   		The FDIC charges each bank the same flat rate for deposit insurance.
   		All of the above statements about the FDIC are true.

3. When The Bank of Bank County borrows funds from the Federal Reserve; the rate the Fed charges the commercial bank is called the _____ rate.

   		prime
   		discount
   		commercial bank
   		going
   		reserve