Which of the Following Is an Accurate Statement About Universal

question 24

Multiple Choice

Which of the following is an accurate statement about universal banks?

• A) In Germany universal banks do everything under one roof, including direct investment in the shares of nonfinancial firms.
• B) In Germany the provision of insurance, banking, and securities must be done by separate corporations.
• C) As in Germany, universal banks in the United States do everything under one roof, including direct investment in the shares of nonfinancial firms.
• D) Universal banks in the United States account for the largest share of financial intermediary assets.

---

Definitions:

Direct Labor-Hours

The aggregate of hours spent by staff members who are directly engaged in producing merchandise or rendering a service.

Job-Order Costing

A cost accounting system that assigns costs to specific production batches or jobs, making it suitable for customized orders.

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead costs to individual products or job orders, based on a particular activity base.

Machine-Hours

A measure of production time used in cost accounting, representing the number of hours that machinery is in operation during a given period.