Major Types of Financial Institutions Include All of the Following

question 45

Multiple Choice

Major types of financial institutions include all of the following EXCEPT:

• A)commercial banks
• B)pension funds
• C)insurance companies
• D)brokerage firms

---

Definitions:

Outstanding Check

A check that has been written and issued but not yet cashed or cleared by the bank.

Service Charge

A charge imposed to cover expenses associated with the main product or service being acquired.

Adjusted Cash Balance

The cash amount shown on a company's books after adjustments have been made for checks written or deposits in transit.

Check Register

A record kept by an account holder of checks written and deposits made into their checking account.