A bank is defined as
A)any institution that makes loans.
B)any institution that accepts deposits.
C)a private firm that receives deposits and makes loans.
D)the institution that sets regulations for commercial activities.
E)a firm that obtains funds by selling shares.

Question

Quizplus · Accepted Answer

A bank is primarily a private firm that receives deposits from the public and makes loans, facilitating financial transactions and credit creation.

A Bank Is Defined as