Financial Accounting
5th Edition
ISBN: 9781618531650
Author: Thomas Dyckman
Publisher: Cambridge Business Publishers
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Question
Chapter 1, Problem 2MC
To determine
Identify the correct option for the given statement.
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Students have asked these similar questions
Which of the following is not a description of a classification of a financial institution?
An entity that accept money from public and use such to financial instruments issued by businesses or government.
An office that collect taxes from registered individuals.
An associations whose members are supposed to have a common bond.
A company that offers a variety of savings and loan products.
Which of the following is not primary reason why corporation invest in debt .
Select one:
a. they are required by law
b. they wish to move into new market
c. they have excess cash
d. they wish to gain control of competitor
4. Which of the following best defines a financial institution that is owned by its members?
A. Merchant bank
B. Commercial bank
C. Credit union
D. Insurance company
Chapter 1 Solutions
Financial Accounting
Ch. 1 - Prob. 1MCCh. 1 - Prob. 2MCCh. 1 - Prob. 3MCCh. 1 - Prob. 4MCCh. 1 - Prob. 5MCCh. 1 - Prob. 1QCh. 1 - Prob. 2QCh. 1 - Prob. 3QCh. 1 - Prob. 4QCh. 1 - Prob. 5Q
Ch. 1 - Prob. 6QCh. 1 - Prob. 7QCh. 1 - Prob. 8QCh. 1 - Prob. 9QCh. 1 - Prob. 10QCh. 1 - Prob. 11QCh. 1 - Prob. 12QCh. 1 - Prob. 13QCh. 1 - Prob. 14QCh. 1 - Prob. 15QCh. 1 - Prob. 16QCh. 1 - Prob. 17QCh. 1 - Prob. 18QCh. 1 - Prob. 19MECh. 1 - Prob. 20MECh. 1 - Prob. 21MECh. 1 - Prob. 22MECh. 1 - Prob. 24MECh. 1 - Prob. 25MECh. 1 - Prob. 26MECh. 1 - Prob. 27ECh. 1 - Prob. 28ECh. 1 - Prob. 29ECh. 1 - Prob. 30ECh. 1 - Prob. 31ECh. 1 - Prob. 32ECh. 1 - Prob. 33ECh. 1 - Prob. 34ECh. 1 - Prob. 35ECh. 1 - Prob. 36PCh. 1 - Prob. 37PCh. 1 - Prob. 38PCh. 1 - Prob. 39PCh. 1 - Prob. 40PCh. 1 - Prob. 41PCh. 1 - Prob. 42PCh. 1 - Prob. 43PCh. 1 - Prob. 44PCh. 1 - Prob. 45PCh. 1 - Prob. 46CPCh. 1 - Prob. 47CPCh. 1 - Prob. 48CPCh. 1 - Prob. 49CPCh. 1 - Prob. 50CP
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- Which type of business organization provides the least amount of protection forbankers and other creditors of a company?a. Partnershipb. Corporationc. Proprietorshipd. Both a and carrow_forwardLimited liability refers to an owner's liability for which of the following? The amount invested in the entity II. The liabilities of the corporation that the owner has personally guaranteed III. All the outstanding liabilities of the corporation IV. Only the corporation's loans from financial institutions Oa. Statements I, II, and IV are correct. Ob. Only statement III is correct. Oc. Only statement I is correct. Od. Statements II and IV are correct. Oe. Statements I, II, III, and IV are correct.arrow_forwardWhich of the following can be described as involving indirect finance? a. People pay premiums to an insurance company b. A corporation issues new shares to people c. People lend money to their friends d. People buy bonds from companiesarrow_forward
- If Firm A's business is to obtain savings from individuals and then invest them in financial assets issued by other firms or individuals, Firm A is a financial intermediary.a.Trueb.Falsearrow_forwardASAParrow_forwardFrom the corporation's perspective, the issuance of its stock is an example of which type of business activity? Select one: a. operating b. financing c. investingarrow_forward
- A corporation that uses debt concentrates the risks of the business on the ___________.arrow_forwardCommercial papers are typically issued by ___. A. Commercial banks B. Large well-known companies C. The Federal Reserve D. Investment banksarrow_forwardWhen should liabilities for each of the following items berecorded on the books of an ordinary business corporation?(a) Acquisition of goods by purchase on credit.(b) Officers’ salaries.(c) Special bonus to employees.(d) Dividends.(e) Purchase commitments.arrow_forward
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