A Savings Institution Owned by Its Depositors Is a ____

question 47

Multiple Choice

A savings institution owned by its depositors is a ____ savings institution.

• A)mutual
• B)stock
• C)credit
• D)closed-end

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Definitions:

Significant Influence

The ability to be involved in the financial and managerial policy decisions of an investment without having controlling authority over those policies.

Fair Value Through Profit or Loss

An accounting approach where financial assets are valued at their current market price, with changes in fair value reported in the profit or loss statement.

Journal Entries

The record of financial transactions in the books of accounts in chronological order, showing the accounts and amounts debited and credited.

Significant Influence

The power to participate in the financial and operating policy decisions of a business, without controlling it.