The Most Basic Functions of Depository Institutions Are

question 105

Multiple Choice

The most basic functions of depository institutions are

• A) safekeeping for depositors.
• B) record keeping for depositors.
• C) efficient and economical transfer of payments.
• D) accepting deposits and granting loans.

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Definitions:

Information-Processing Theory

A cognitive approach that likens the mind to a computer, focusing on how information is taken in, stored, and retrieved.

Memory

The process by which information is encoded, stored, and retrieved, allowing experiences to be remembered over time.

Sensory Memory

The shortest-term element of memory, which allows the ability to retain impressions of sensory information after the original stimuli have ended.

Sensory Memory

The shortest-term element of memory, which allows individuals to retain impressions of sensory information after the original stimulus has ceased.