Examples of Thrift Institutions Include

question 325

Multiple Choice

Examples of thrift institutions include

• A) savings and loan associations, savings banks, and credit unions.
• B) commercial banks, savings and loan associations, and insurance companies.
• C) savings deposits and checking deposits.
• D) money market mutual funds, commercial banks, and credit unions.

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Definitions:

Adjusting Entry

A transaction recorded in accounting to revise account balances at the end of an accounting cycle.

Financial Statements

Consolidated documents that track and report an entity's financial performance and health, including balance sheet, income statement, and cash flow statement.

Balance Sheet

A financial statement that presents the financial position of a company at a specific point in time.

Income Statement

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