What Is the Defining Characteristic of the Dual Banking System

question 87

Multiple Choice

What is the defining characteristic of the dual banking system?

• A)Coexistence of parent and holding companies.
• B)Coexistence of both nationally chartered and state chartered banks.
• C)Control of nationally chartered and state chartered banks by the state regulators.
• D)Control of nationally chartered banks by both FRS and State bank regulators.
• E)Nonbanking companies carrying out both banking and other activities.

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Definitions:

Telephone Expense

This represents the cost associated with telephone usage and services for a business, classified as an office expense.

Fees Earned

Fees earned refer to the income a company receives from providing services to its clients, typically recorded in the income statement.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, culminating in net profit or loss.

Statement Of Owner's Equity

A financial document that shows the changes in the equity of a company over a specific period, reflecting investments, withdrawals, and the net income or loss.