At Its Most Basic Level,the Function of Financial Intermediaries Is

question 92

Multiple Choice

At its most basic level,the function of financial intermediaries is to ________.

• A)track and report interest rates
• B)move money from lenders to borrowers and back again
• C)report all financial transactions to the federal government
• D)effect a transfer of wealth in society

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Definitions:

Journal Entries

Records of financial transactions in accounting, which are entered in the chronological order.

Transactions

The activities or dealings that involve the transfer of goods, services, money, or titles between parties, forming the basis of accounting records.

Asset Account

An account that represents a resource owned by a business from which future economic benefits are expected.

Expense Account

An account used to record expenses incurred by a business, which are then used to reduce income on the profit and loss statement.