According to the Chapter 7 Strategic Focus, What Was the Reason

question 156

Multiple Choice

According to the Chapter 7 Strategic Focus, what was the reason for Citigroup's restructuring?

• A) to create a "financial supermarket."
• B) to acquire Discover Financial Services.
• C) to focus on core areas of banking and meet new stricter regulatory requirements.
• D) to link together the banking and insurance businesses.

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Definitions:

U.S. GAAP

Generally Accepted Accounting Principles in the United States, a framework of accounting standards, principles, and procedures.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, profits, or losses.

Sole Proprietorship

A business ownership structure where a single individual owns the company and is responsible for its debts and liabilities.

Capital Maintenance

An accounting concept aimed at preserving the initial capital of the company, adjusting for inflation or financial performance.