Which Statement Is True

question 144

Multiple Choice

Which statement is true?

• A)Banking began in biblical times.
• B)Most banks do NOT have national charters.
• C)Bankers would like to hold a reserve ratio of about 10 percent.
• D)About half the banks in the United States are members of the FDIC.

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Definitions:

State Income Taxes

State income taxes are taxes imposed by individual states on the income earned by individuals and entities within their jurisdiction, varying widely among states.

Residual Claim

The right of common stockholders to claim assets remaining after debts and liabilities have been settled in a liquidation event.

Stockholders' Right

Entitlements or privileges afforded to shareholders, including the right to vote on corporate matters, receive dividends, and share in the distribution of assets upon liquidation.

Dividends

Payments made by a corporation to its shareholder members, typically from profits or reserves.