A ________ Is a Profit-Seeking Organization That Receives Deposits from Individuals

question 26

Multiple Choice

A ________ is a profit-seeking organization that receives deposits from individuals and corporations and uses some of these deposits to make loans.

• A) credit union
• B) Federal Reserve Bank
• C) commercial bank
• D) consumer finance company

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Definitions:

Rescind

To revoke, cancel, or annul a contract, agreement, or resolution.

Uniform Simultaneous Death Act

A legal guideline used to determine inheritance when two or more people die at the same time or under conditions where it's impossible to determine who died first.

Tornado

A violently rotating column of air that extends from a thunderstorm to the ground, known for its potential to cause widespread destruction.

Intestate

The state of dying without a valid will, resulting in one's assets being distributed according to statutory guidelines.