1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
NikAS [45]
3 years ago
13

Federally chartered banks and credit unions are run like businesses that make a profit.

Business
1 answer:
Licemer1 [7]3 years ago
4 0

Answer:

False.

Explanation:

A bank is said to be federally chartered when it is appropriately authorized and regulated by the federal government of a country with recourse to statutory laws but not the state government. Some examples of federally chartered banks are Wells Fargo Bank, Bank of England, Swiss National Bank, Citizen National Bank, Bank of Japan, PNC Bank, First National Bank, U.S. Bank, Reserve Bank of Australia, etc.

A credit union can be defined as a non-profit making financial cooperative that is typically controlled by its members (employees, church groups, labour unions etc) and it is saddled with the responsibility of providing financial services like the traditional banks.

Generally, the profit made from the amount of money that is being deposited by the members of a credit union are usually returned to the members as a form of better interest rates. Some examples of credit unions are SchoolsFirst Credit Union, New York University Federal Credit Union, Consumers Credit Union, etc.

Hence, federally chartered banks and credit unions are not run like businesses that are a profit i.e they are a non-profit business.

You might be interested in
1. Alejandro and Roger are working on a group project for class that requires writing a paper and designing charts to explain th
Bezzdna [24]

Answer:

Alejandro´s opportunity cost is 2/3 of a chart.

Roger´s opportunity cost is 1/2 of a chart.

Explanation:

The cost of opportunity represent the benefits that you misses out on when choosing one alternative over another.  

In this case ,  we can say that Alejandro and Roger can produce 2 product.  And if they produce one ,  they loose the possibility of producing the other.

We can Illustrate this situation with a production possibility frontiers graph and  if we increase  the quantity produced of one good,  will  decrease the other, because the limited resources.  

Alejandro produce 3 three pages of the paper in the same time it takes him to create two charts. We use cross multiplication to get  how many charts Alejandro produce at the same time he produce a single page

1___x

3___2 so x= 1x2/3

So ,  in the time he produce a single page of the essay,  he could produce 2/3 of a chart. This is the cost opportunity.

Roger can write two pages of the paper in the same time he can produce a single chart. So,  in the time he produce a single page of the essay he could make half of a chart.  

Download xlsx
3 0
3 years ago
Do savings and loan associations offer checking accounts?
svlad2 [7]
No they do not offer
3 0
3 years ago
Otis, the manager of a camera store, believes that his store may be closed by corporate in the near future, so he cannot sleep w
Mandarinka [93]

Answer:

Panic

Explanation:

A panic attack is the abrupt onset of intense fear or discomfort that reaches a peak within minutes and includes at least four of the following symptoms: Palpitations, pounding heart, or accelerated heart rate. Sweating. Trembling or shaking. Sensations of shortness of breath or smothering.

7 0
3 years ago
Read 2 more answers
Assuming an acid-test ratio of 1.0, how will the purchase of inventory with cash affect the ratio?
docker41 [41]

Answer:

C) Decrease the acid-test ratio

Explanation:

The quick ratio is also called acid test ratio. It is a liquidity ratio that measures level of liquid assets of a business.

That is the amount of cash or near cash assets it has to settle it's current debt.

Mathematically

Quick ratio = (Current assets - Inventory) ÷ Current liabilities

If cash (current asset) is used to buy Inventory. Cash will reduce and inventory will increase.

The value of (Current asset - Inventory) reduces.

As the numerator in the ratio reduces, the quick ratio also reduces.

6 0
3 years ago
Klamath+corporation+has+asset+turnover+of+3.5,+a+profit+margin+of+5.2%,+and+a+current+ratio+of+0.5.+what+is+klamath+corporation'
NARA [144]

Klamath corporation has insufficient information to find ROE.

Return on equity (ROE) is the degree to of an agency's internet earnings are divided by using its shareholders' equity. ROE is a gauge of a corporation's profitability and how successfully it generates one's income. The better the ROE, the higher an employer is at changing its fairness financing into income.

ROE is used while evaluating the monetary performance of agencies within the identical enterprise. it's far a measure of the capability of management to generate earnings from the equity available to it. A go-back of between 15-20% is considered good.

The return on equity is a degree of the profitability of an enterprise with regard to fairness. Because shareholder's equity may be calculated with the aid of taking all belongings and subtracting all liabilities, ROE also can be the idea of a return on belongings minus liabilities.

ROE=Profit margin*Total asset turnover*Equity multiplier

Hence since Equity multiplier data is not given.

Learn more about ROE here: brainly.com/question/26849182

#SPJ4

4 0
2 years ago
Other questions:
  • Finding the interest rate and the number of years The future value and present value equations also help in finding the interest
    7·1 answer
  • In a firm with a(n) _____ staffing policy, considerable resentment is caused among foreign nationals who are members of the inte
    9·1 answer
  • Yield to maturity (YTM) is the rate of return expected from a bond held until its maturity date. However, the YTM equals the exp
    6·1 answer
  • Budgeted professional labor is $200,000. One of the firm's professionals completed work and the customer was billed $45,000 for
    13·2 answers
  • In the Shaping Department of Oriole Company the unit materials cost is $4.00 and the unit conversion cost is $2.00. The departme
    9·1 answer
  • What is the expected dollar rate of return on dollar deposits with today's exchange rate at $1.10 per euro, next year's expected
    12·1 answer
  • The annual planning process at Century Office Systems, Inc. had been arduous but produced a number of important marketing initia
    15·1 answer
  • Financial statements of Kansas Ltd (Fr) for 2X13 are authorized by management and auditors on February 15, 2X13 for issuance on
    14·1 answer
  • Should Monics and Ami use a loan or their personal funds to finance their business startup? What other alternatives might they c
    12·2 answers
  • Drag the tiles to the correct boxes to complete the pairs.
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!