Deposits Held by Banks with Others Are Called Correspondent Deposits

question 120

True/False

Deposits held by banks with others are called correspondent deposits.

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Definitions:

Prestige Status

A social standing that denotes respect, admiration, or significance within a particular context or community.

Means Of Production

The physical, non-human inputs like factories, machinery, and tools used in the production process to generate economic value.

Karl Marx

A 19th-century philosopher, economist, and revolutionary known for his theories about capitalism and communism.

Socialist Government

A form of government where the means of production, distribution, and exchange are owned or regulated by the community as a whole.