The Primary Source of Funds for Credit Unions Is

question 24

Multiple Choice

The primary source of funds for credit unions is

• A)share certificates.
• B)share deposits.
• C)share drafts.
• D)borrowed funds from the Central Liquidity Facility (CLF).
• E)none of the above

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Definitions:

Indirect Control

The ability to influence or dictate the actions of another company or entity, not through direct ownership, but through other means such as contractual agreements or through a third party.

Income Tax Expense

The cost incurred by businesses or individuals due to income taxes, reflecting the portion of earnings allocated to meet tax obligations.

Separate Return Method

An approach used in the taxation of a group of related entities, where each entity files its own tax return instead of filing a single consolidated return.

Initial Value Method

An accounting method in which investments are recorded at their cost at the time of acquisition, without subsequent adjustment for market changes.