One Factor Contributing to the Decline in Cost Advantages That

question 70

Multiple Choice

One factor contributing to the decline in cost advantages that banks once had is the

• A) decline in the importance of checkable deposits from over 60 percent of banks' liabilities to 2 percent today.
• B) decline in the importance of savings deposits from over 60 percent of banks' liabilities to under 15 percent today.
• C) decline in the importance of checkable deposits from over 40 percent of banks' liabilities to 15 percent today.
• D) decline in the importance of savings deposits from over 40 percent of banks' liabilities to under 20 percent today.

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Definitions:

Implied Warranty

A legal assumption that a product is fit for its intended purpose, even if not expressly stated by the seller.

Merchantability

A guarantee that a product will meet reasonable quality and performance standards for sale to customers.

Merchantable

A legal term referring to goods that meet basic quality standards and are fit for the purpose for which goods of that kind are usually purchased.

UCC

Represents the Uniform Commercial Code, a broad series of legal provisions that regulate commercial activities across the United States.