A Bank Devoted Principally to the Markets for Smaller,locally Based

question 43

Multiple Choice

A bank devoted principally to the markets for smaller,locally based deposits and loans is often referred to as a(n) :

• A)wholesale bank.
• B)retail bank.
• C)commercial bank.
• D)investment bank.
• E)social bank.

---

Definitions:

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal.

General Ledger

A comprehensive record of all financial transactions that occur within a business, sorted by account.

T-account

A graphical representation of a ledger account that outlines the effects of transactions on a specific account, used in double-entry bookkeeping.

Transactions

Financial interactions or exchanges between two or more parties, often involving the transfer of goods, services, or funds.