Which of the Following Is Not Considered a Financial Intermediary

question 16

Multiple Choice

Which of the following is not considered a financial intermediary?

• A) Commercial banks
• B) Savings and loan associations
• C) Credit unions
• D) Mutual savings banks
• E) The Federal Deposit Insurance Corporation

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Definitions:

Adjusting Entry

A journal entry made in accounting records to update the balances of accounts at the end of an accounting period.

Outstanding Checks

Checks that have been written and recorded in the issuing firm's books but have not yet cleared or been deducted from the firm's bank account.

Checks Presented

Checks that have been written and given to payees but not yet cleared through the banking system.

Checks Written

Documents ordering a bank to pay a specific amount from the check writer's account to the person in whose name the check has been issued.