Which of the Following Statements Is Not True

question 71

Multiple Choice

Which of the following statements is not true?

• A) Credit unions, most of which are very small, cannot match the extent of services offered by a commercial bank.
• B)Credit union share accounts are the functional equivalent to passbook accounts.
• C) Credit unions may arguably be more comparable to "clubs" than to businesses.
• D) Credit unions have a common-bond requirement.

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Definitions:

Income Gap

This refers to the disparity in income between different groups in society, often measured between the wealthy and the poor.

Low-Income

A condition where an individual or family earns below a certain income threshold, often qualifying them for government assistance.

Developing Nations

Countries with a lower living standard, underdeveloped industrial base, and low Human Development Index relative to other countries.

Extreme Poverty

The condition where individuals live below the minimum income level considered necessary to meet basic needs, often defined as living on less than $1.90 a day.