If a Foreign Bank Operates a Subsidiary Bank in the U.S

question 23

Multiple Choice

If a foreign bank operates a subsidiary bank in the U.S. ,the subsidiary bank is

• A)subject to the same regulations as a U.S. owned bank.
• B)only subject to the regulations of the country in which the foreign bank is chartered.
• C)restricted to making loans to only foreign citizens in the U.S.
• D)restricted to accepting deposits from foreign citizens living in the U.S.

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Definitions:

Accounts

Records of financial transactions pertaining to specific assets, liabilities, equity, revenues, and expenses within an organization.

Compound Entry

A type of journal entry in accounting that involves more than two accounts, with multiple debits, credits, or both.

Journalizing

The process of recording business transactions in the journal of accounting as part of the double-entry bookkeeping system.

Simple Entry

A journal entry that involves only two accounts.