Credit Unions Use the Majority of Their Funds to

question 52

Multiple Choice

Credit unions use the majority of their funds to

• A)purchase investment securities.
• B)provide commercial real estate loans.
• C)provide small business loans to members.
• D)provide consumer loans to members.

Understand the recording of sales returns and allowances.

Distinguish the operating cycles and financial reporting between service and retail businesses.

Know how the cost of merchandise sold and inventory costs are determined and reported.

Understand how sales, operating expenses, and net income are related in a merchandise business.

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Definitions:

Core Business Partners

Key organizations or individuals that a company collaborates with closely to conduct its primary business activities.

Personal Communication

Personal communication refers to direct interaction between individuals, whether in person, via phone, email, or other means.

External-operational Communication

Refers to communication exchanges between a company and external entities, focusing on operational activities and partnerships.

Formal Network

A Formal Network is an organized structure in a company or institution where connections and communications are governed by official rules, roles, and procedures.