In General,financial Institutions

question 41

Multiple Choice

In general,financial institutions

• A) exclude those businesses that lend to the public.
• B) act as intermediaries between savers and investors.
• C) number fewer than a thousand in the United States.
• D) hold reserves equal to the value of checkable deposits.
• E) operate as nonprofit institutions for the public good.

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Definitions:

Enforceable

Capable of being imposed or upholding through legal means.

Liability

The state of being legally responsible for something, typically involving debt or legal obligations.

Landlord

An individual or entity that owns a property and rents it out to tenants in exchange for a periodic payment.

Exculpatory Clause

A clause that releases a contractual party from liability in the event of monetary or physical injury, no matter who is at fault.