Question

Which are the roles of a bank? Check all that apply.
1- Storing and holding money

2- Making purchases to create profits

3- Lending money

4- Investing in the economy

5- Creating money for the economy

Answer 1

The right options are;

1- Storing and holding money

2- Making purchases to create profits

3- Lending money

4- Investing in the economy  

A bank is an authorized financial establishment that accepts deposit, provide loans, and pay interest to its customers. Banks mainly take care of financial affairs and they are highly important to the economy. The main role of banks is to put their customer’s money to use by lending it out to others while the banks also generate money from it. Various activities carried out by banks include personal banking, insurance, foreign exchange trading, corporate banking, etc.

Answer 2

Answer:

1- Storing and holding money

3- Lending money

4- Investing in the economy

Explanation:

Took the test