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Question 11 of 40

Financial institutions can be classified under:

A. Prime beneficiary of an organization

B. Public sector organizations

C. Commonweal organizations

D. Private enterprise organizations



Answer :

GinnyAnswer

Final answer:

Financial institutions are vital intermediaries in the economy, offering various accounts to consumers.


Explanation:

Financial institutions play a crucial role in the economy by acting as intermediaries between borrowers and savers. They include commercial banks, credit unions, insurers, and mutual funds. These institutions offer a variety of accounts such as checking, savings, and certificates of deposit to meet the needs of consumers.


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