Which of the Following Is True of Financial Services Provided

question 18

Multiple Choice

Which of the following is true of financial services provided by persons working in banks, insurance companies, and brokerage firms?

• A)Persons working in banks, insurance companies, and brokerage firms help corporations to decide the types of securities to be issued to finance plant expansion.
• B)Persons working in banks, insurance companies, and brokerage firms help individuals and companies determine how to invest money to achieve their financial goals.
• C)Persons working in banks, insurance companies, and brokerage firms help corporations fulfill the regulations required by the Sarbanes-Oxley Act.
• D)Persons working in banks, insurance companies, and brokerage firms help public corporations follow environment-friendly practices.
• E)Persons working in banks, insurance companies, and brokerage firms help corporations in framing their bylaws.

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Definitions:

Debit Balance

A financial account status where the total debits exceed the total credits, indicating an amount owed.

Office Supplies

Items used in offices on a regular basis for the purpose of carrying out tasks and operations, including pens, paper, and staplers.

Asset Account

An account on a balance sheet that represents a resource controlled by the entity as a result of past transactions and from which future economic benefits are expected.

Adjusting Entries

Entries recorded in accounting logs at the end of a fiscal period for the purpose of allocating earnings and costs to their rightful period.