Every Month,Bill Adds to a Savings Account with a Financial

question 72

Multiple Choice

Every month,Bill adds to a savings account with a financial institution that makes loans for homes.The only money he makes from this institution is interest on his savings.The financial institution is most likely a ________.

• A) commercial bank
• B) finance company
• C) savings and loan association
• D) mutual savings bank

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Definitions:

Workers

Individuals engaged in any form of productive activity, typically in exchange for wages or salaries.

Corporate Profits Tax

A levy placed on the profit of corporations, calculated as the net income of the firm after deducting costs and expenses.

Individual Income Tax Rate

The percentage of an individual’s income that is paid to the government as tax.

Partnerships

A type of business organization where two or more individuals own and operate the business, sharing profits and losses.