Question

The client may mail the bank confirmation requests if the auditor believes doing so will increase the likelihood that the confirmation will be returned promptly.

A) True
B) False

Answer 1

The Panic of 1819 decreased American people's faith in the Second Bank of the United States as it was blamed for tightening credit and exacerbating the crisis.

Step-by-step explanation:

The statement that the Panic of 1819 increased the American people's faith in the Second Bank of the United States is false. The Panic of 1819 was the first widespread financial crisis in the United States, which resulted in bank failures, foreclosures, unemployment, a slump in agriculture and manufacturing, and severe economic distress across the country. The panic actually undermined public confidence in the Second Bank, as many blamed it for tightening credit at a time of economic stress, exacerbating the panic's effects.