Which defines a bank as used in finance? (1 point) Responses the land alongside or sloping down to a river or lake the land alongside or sloping down to a river or lake a financial institution where customers deposit money, withdraw previously deposited money, and borrow money through loans fund a financial institution where customers deposit money, withdraw previously deposited money, and borrow money through loans fund a depository account a depository account to tilt or cause to tilt sideways in making a turn
a financial institution where customers deposit money, withdraw previously deposited money, and borrow money through loans fund
A bank, as defined in finance, refers to a financial institution where customers can deposit money, withdraw previously deposited money, and borrow money through loans. It acts as a fund and facilitates various financial transactions for individuals and businesses.
The correct answer is: a financial institution where customers deposit money, withdraw previously deposited money, and borrow money through loans.
To find this answer, you can use various methods. Here's one approach:
1. Consult a dictionary: Look up the term "bank" in a finance-related dictionary or glossary. You'll find definitions specific to finance that explain the role and functions of a bank.
2. Conduct online research: Search for reputable sources such as finance websites, investment guides, or textbooks that discuss the definition of a bank in a financial context. These sources often provide detailed explanations and examples.
3. Consult academic resources: Check academic journals or textbooks that specialize in finance or banking. These resources may provide more comprehensive definitions and explanations.
4. Verify with official sources: Refer to regulatory or government websites related to banking and finance in your country. These sources often provide formal definitions and descriptions of banks as recognized by relevant authorities.
By following these steps, you can ensure that you have a reliable and accurate definition of a bank as used in finance.