Which of the Following Statements Is True

question 62

Multiple Choice

Which of the following statements is true?

• A)Money market corporations are primarily concerned with wholesale deposit raising and lending.
• B)Money market corporations are primarily concerned with retail deposit raising and lending.
• C)Money market corporations are financial intermediaries that cover a large number of activities.
• D)Money market corporations are financial intermediaries that cover a large number of activities and are primarily concerned with wholesale deposit raising and lending.

---

Definitions:

Withdrawal of Cash

The act of taking money out from a business by the owners for personal use, not related to business expenses.

Cash Receipts Journal

A financial journal that records all cash coming into the business, providing a record of income from various sources.

Cash Payments Journal

A business ledger documenting every cash disbursement, covering costs, acquisition of assets, and settlement of debts.

Purchases Journal

A specialized accounting journal used to record all purchases of merchandise on credit.