Which of the following statements about banks is NOT true?
A)Banks distribute the medium of exchange.
B)All banks are organized as corporations.
C) Banks may be chartered by either federal or state governments.
D) Banks are essential to maintaining the economy.

Question

Quizplus · Accepted Answer

Not all banks are organized as corporations. Some banks may be organized as partnerships or sole proprietorships.

Which of the Following Statements About Banks Is NOT True