A study of history shows that one of the first services offered by banks was:
A)equipment leasing.
B)currency exchange.
C)security brokerage and underwriting.
D)sale of real estate.
E)None of the options are correct

Question

Quizplus · Accepted Answer

Currency exchange was one of the earliest services offered by banks. This allowed merchants to trade different currencies when conducting business across borders, which was common in the early days of international trade. Banks would exchange one currency for another and charge a fee for the service. This service was important for facilitating trade and commerce, and it helped to establish the banks as a critical part of the financial system.

A Study of History Shows That One of the First