Which of the Following Statements About Online Banking Is Not

question 11

Multiple Choice

Which of the following statements about online banking is not True?

• A) Top mobile banking activities include checking balances and transferring money from one account to another.
• B) Online and mobile banking transactions provide significant costs savings for banks.
• C) All of the purely online banks (those that operate without a network of branches) have gone out of business.
• D) Over 50% of the adult U.S. population used online banking in 2014.

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Definitions:

Adjusted Trial Balance

A trial balance that reflects all adjustments made in accounting records, used to prepare financial statements.

Financial Position

Describes an entity's financial health, assessed by examining its assets, liabilities, and equity at a specific point in time.

Statement of Income

A financial statement that shows a company's revenues, expenses, and net income over a specific period, also known as an income statement.

Bonds

Fixed-income investment products representing loans made by an investor to a borrower, typically corporate or governmental, which borrows the funds for a defined period at a variable or fixed interest rate.