Which of the Following Statements Concerning Representative Banking Offices Is

question 37

Multiple Choice

Which of the following statements concerning representative banking offices is correct?

• A)Representative offices are established in a foreign country primarily to assist the parent bank's customers in that country.
• B)Representative offices can accept deposits,make loans,transfer funds,accept drafts,transact in the international money market or commit the parent bank to loans.
• C)Representative offices can cash a traveller's cheque drawn on the parent bank.
• D)All of the above.

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Definitions:

Zero Slope

A horizontal line on a graph, indicating that there is no change in the y-value (vertical) regardless of the change in the x-value (horizontal); it represents a constant function.

Positive Slope

Indicates an upward trend on a graph, demonstrating that as one variable increases, the other variable also increases, especially used in the context of supply and demand curves in economics.

Consumption

The use of goods and services by households or individuals for personal needs or wants.

Income

Earnings received by an individual or entity, typically in the form of wages, salaries, or various types of investments.