A Depository Institution That Is Owned by Its Depositors, Who

question 61

Multiple Choice

A depository institution that is owned by its depositors, who are often members of a common organization or association, such as an occupation, a religious group, or a community, is called a(an) _____. 

• A)underwriting syndicate
• B)mutual fund
• C)investment bank
• D)credit union
• E)commercial bank

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Definitions:

Operating Activities

These activities involve the primary, day-to-day operations of a business, such as selling products, providing services, and incurring operating costs.

Financial Statements

Reports that provide an overview of a company's financial condition, including balance sheet, income statement, and cash flow statement.

Indirect Method

A reporting approach used in cash flow statements where net income is adjusted by changes in non-cash accounts to determine cash flow from operating activities.

Net Cash Flow

The difference between a company's cash inflows and outflows within a defined period.