BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A ____ is a for profit financial institution that is run by share holders.
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commercial bank
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credit unions
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retirement account
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Explanation:
Detailed explanation-1: -What Is a Commercial Bank? The term “commercial bank” refers to a financial institution that accepts deposits, offers checking account services, makes various loans, and offers basic financial products like certificates of deposit (CDs) and savings accounts to individuals and small businesses.
Detailed explanation-2: -Commercial Banks A financial institution that engages in various financial services, such as accepting deposits and making loans.
Detailed explanation-3: -That’s because a credit union is owned and operated by members. Credit unions are non-profit organizations. At credit unions, depositors are called members. Each member is an owner of the credit union.
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