The Bank Rate Is Determined By

question 88

Multiple Choice

The bank rate is determined by:

• A) the chartered banks.
• B) the yield on 91-day Treasury bills.
• C) the prime rate.
• D) the Bank of Canada overnight rate.

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Definitions:

Partnership

A legal form of business operation between two or more individuals who share management and profits.

Personal Income

The total income received by an individual from all sources before taxes.

Business Losses

Financial losses incurred during the operation of a business, often resulting from expenses exceeding revenues.

Taxes

Compulsory financial charges or levies imposed by a government on individuals or organizations to fund public expenditure.