Citibank Has One Group of Loan Officers Who Handle Consumer

question 152

Multiple Choice

Citibank has one group of loan officers who handle consumer loans and another group who work in the commercial loan area.Grouping work units this way is known as departmentalisation by

• A) function.
• B) customer.
• C) product.
• D) specialty.
• E) location.

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Definitions:

Transactions

Acts of buying, selling, or exchanging goods, services, or financial assets in the market.

Double Entry

An accounting principle that requires every financial transaction to be recorded in two accounts, debit and credit, to keep financial statements balanced.

Balance Sheet

A balance sheet that presents a firm's financial position, detailing its assets, liabilities, and owners' equity at a particular moment.

Current Liabilities

Short-term financial obligations of a company that are due to be paid within one year.