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Questions and Answers
What is the primary service that commercial banks offer to the public?
What is the primary service that commercial banks offer to the public?
- Transaction (checking) accounts (correct)
- Mortgage loans
- Credit cards
- Investment advice
What is the principal asset of commercial banks?
What is the principal asset of commercial banks?
- Bonds
- Investment securities
- Stocks
- Loans made directly to borrowers (correct)
What is the role of commercial bank checking accounts in the economy?
What is the role of commercial bank checking accounts in the economy?
- They are used for investment purposes
- They are primarily used by individuals for personal transactions
- They are only accepted by certain businesses
- They are the principal means of payment (correct)
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