Which of the Following FIs Does Not Currently Provide a Payment

question 38

Multiple Choice

Which of the following FIs does not currently provide a payment function for their customers?

• A)Depository institutions.
• B)Insurance companies.
• C)Finance companies.
• D)Pension funds.
• E)Mutual funds.

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Definitions:

Wages

Payment given to workers for their work or services, often determined by the hour, day, or per piece completed.

Direct Material

Raw materials used in the manufacturing process that are directly attributed to the finished product.

Production Cost

The total expenses incurred in the process of producing goods or services, including materials, labor, and overhead costs.

Organization's Objectives

The specific goals set by a business or organization to guide its operations and strategic direction.