Which of the Following Financial Institutions Would Be Used the Most

question 36

Multiple Choice

Which of the following financial institutions would be used the most by business customers wishing to borrow money?

• A) Commercial banks
• B) Savings institutions
• C) Credit unions
• D) All are used equally by business customers.

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Definitions:

Work in Process

Items that are in the process of being produced but are not yet completed in a manufacturing setting.

Standard Costs

Estimated costs of production, labor, and materials that are set in order to budget and control expenses.

Fixed Manufacturing Overhead

Expenses associated with manufacturing that do not vary with the level of production, including salaries of managers and depreciation of equipment.

Direct Labor Costs

Expenses directly tied to the work of employees manufacturing a product or delivering a service.