Which of the Following Financial Institutions Are Considered to Be

question 12

Multiple Choice

Which of the following financial institutions are considered to be owned by their depositors?

• A) commercial banks and savings and loan associations
• B) savings and loan associations and mutual savings banks
• C) mutual savings banks and credit unions
• D) credit unions and pension funds
• E) pension funds and savings institutions

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Definitions:

Unliquidated Debt

A debt that has not been determined or calculated because the exact amount owed may not be known.

Consideration

The value (monetary, goods, services, promise) that is given by both parties in a contract, making the agreement legally binding.

Liquidated Debt

A debt for which the exact monetary value has been determined and is acknowledged by all parties involved.

Unliquidated Debt

A debt or claim where the amount owed has not been determined or agreed upon by the debtor and creditor.