Financial Institutions Can Include All of the Following except

question 1

Multiple Choice

Financial institutions can include all of the following except:

• A)pensions.
• B)check-cashing companies.
• C)financial service companies.
• D)banks.

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Definitions:

Balance Sheet

A record presenting a business's holdings, obligations, and investor equity at a distinct time.

Unclassified Balance Sheet

A simple format of a balance sheet where assets, liabilities, and equity are listed in a single column without categorizing them into subcategories.

Accounts

Accounts refer to the records of financial transactions, reflecting credits and debits in the financial statements of a business or an individual.

General Ledger

A complete record of all the financial transactions of a company, organized by accounts, which provides the data used to create financial statements.