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☆☆☆☆☆Cards in this guide (17)
What is money in a checking account called
Money in a checking account is called demand deposit.
In which year was the Federal Reserve System created
1913
This form of business organization is used by some professional workers like doctors and lawyers
Partnership
This form of business has been used for hundreds of years
Proprietorship
Certain types of these large business organizations existed during the Colonial Era
corporation(:
Which of these describes a time deposit
Money in a savings account is an example of a time deposit.
Which of these functions of money allows people to save their money to use in the future
Storehouse of value. (:
This federal corporation insures money deposited in member banks
Regulates securities and other financial market investments
SEC
What type of tax is one in which the rate of tax does not change with a change in the tax base
proportional
Each individual agrees to provide some part of the labor for the business
Partnership
The owner makes all of the decisions
Proprietorship
Only one person is liable if the business fails
proprietorship
This type of business has one or more individuals who share responsibility for the decisions of the company
partnership
Would the electric company b most likely be a profit or nonprofit corporation
The electric company would have to be a for profit company, they provide a service at a marked up price, making them for profit.
Is a partnership firm has any legal entity
No, a partnership firm has no legal entity. Registering the partnership firm means registering the partnership relation. firm has no separate legal entity.
Which tools does the government use to regulate and keeps banks from over extending themselves
Require assets
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