Which of the Following Statements Is NOT Correct? Building Societies

question 4

Multiple Choice

Which of the following statements is NOT correct? Building societies:

• A)have the opportunity to transform into banks.
• B)have merged among themselves to face increased competition.
• C)have decreased in number.
• D)have kept the same line of products since their creation.

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Definitions:

Operating Expenses

Costs associated with the normal operations of a business, including sales and marketing, research and development, and administrative expenses.

Indirect Method

A way of reporting cash flows from operating activities by adjusting net income for non-cash transactions and changes in working capital.

Net Income

The profit of a company after all expenses and taxes have been subtracted from total revenue.

Operating Activities

Transactions and other events related to the core business operations of a company, including revenue and expense transactions that affect the net income.