Economists group commercial banks, savings and loan associations, credit unions, mutual funds, mutual savings banks, insurance companies, pension funds, and finance companies together under the heading financial intermediaries
Financial intermediaries
A) act as middlemen, borrowing funds from those who have saved and lending these funds to others.
B) produce nothing of value and are therefore a drain on society's resources.
C) help promote a more efficient and dynamic economy.
D) do all of the above.
E) do only A and C of the above.
E
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The Fed is responsible for ____________________ checks and providing various services to the U.S. Treasury.
Fill in the blank(s) with the appropriate word(s).
A gift causa mortis differs from an inter vivos gift in that a gift causa mortis:
A) Can only be made to family members. B) Requires witnesses to be effective. C) Sometimes is automatically revoked. D) Has different requirements regarding consideration.
According to a CEO survey by Accenture, ________ are not mutually exclusive corporate goals.
A. ROI and quality B. quality and profitability C. sustainability and profitability D. availability and ROI
Answer the following statements true (T) or false (F)
1) Generally Accepted Accounting Principles (GAAP) are the rules and guidelines governing accounting. 2) Due to the globalization of business, U.S. companies are no longer required to follow GAAP. 3) The business entity concept requires that the owner's personal assets be separated from business assets. 4) Financial information that is verifiable violates the principle of objectivity. 5) According to the cost principle, if an appraised value is known - it should be used for recording purposes.