If an instrument is payable within a definite period of time after being presented for payment, the maker or drawee is under no obligation to pay until that time.

The _______________________ was designed to reduce or eliminate interest rate limitations and increase access to various sources of funds available to banks and thrifts and expand the uses of the funds of S&Ls.

a. Glass Steagall Act b. Gramm-Leach-Bliley Act c. Garn-Saint Germain Act d. Depository Institutions Deregulation and Monetary Control Act

Generally accepted accounting principles are authorized by the Financial Accounting Standards Board (FASB)

Indicate whether the statement is true or false