_______________ Accept the Savings of Individuals and Lend Pooled Savings

question 76

Multiple Choice

_______________ accept the savings of individuals and lend pooled savings to individuals primarily in the form of mortgage loans and operate almost entirely in New England , New York, and New Jersey, with most of their assets continuing to be invested in mortgage loans.

• A)Commercial banks
• B)Thrift institutions
• C)Savings banks
• D)Credit unions
• E)none of the above

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Definitions:

Fixed Costs

Expenses that do not change in total despite fluctuations in production levels or sales volume.

Income Statement

A financial statement that shows a company's revenues, expenses, and profitability over a specified period of time, providing insight into its financial performance.

Absorption Costing

An accounting method where all manufacturing costs, including both fixed and variable costs, are allocated to produced units.

Direct Labor Cost

The total cost of wages paid to workers directly involved in manufacturing a product or delivering a service.