The Number of Credit Union Members Has Been

question 21

Multiple Choice

The number of credit union members has been:

• A)growing steadily.
• B)declining gradually.
• C)static.
• D)restricted by the Tax Reform Act of 1986.
• E)restricted by state laws.

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Definitions:

Amortizations

The act of spreading out loan payments over a period of time, including both the principal and the interest.

Gross Profit

The difference between sales revenue and the cost of goods sold, indicating the efficiency of a company in producing and selling its products.

Goodwill

An intangible asset that arises when a buyer acquires an existing business, representing the value of the business's reputation, brand, and other unquantifiable elements.

Equity Method

An accounting method used to assess the profits earned by investments in other companies, where the investment's value is adjusted according to the investor’s share of the investee's profit or loss.