An Edge Act Corporation Is

question 109

Multiple Choice

An Edge Act Corporation is:

• A)A company created so a U.S.bank can operate in more than one state
• B)A subsidiary of a bank created to provide insurance and securities services
• C)A company created by a non-bank corporation used to purchase and operate banks
• D)A subsidiary of a domestic bank that is established specifically to engage in international banking transactions

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Definitions:

Worksheet

A paper or digital form used to organize data and calculate figures, often preliminary to the preparation of financial statements.

Operating Expense

A type of expenditure that a business incurs as a result of carrying out its day-to-day operations, excluding the cost of goods sold.

Goods Available for Sale

All the products that a company has in its inventory at the beginning of a period plus any purchases made during that period.