An entity that, as part of its normal business operations, makes loans or extends credit to the general public, is referred to as a:

Question

Quizplus · Accepted Answer

A financial institution is a broad term that encompasses banks, credit unions, and other organizations that make loans or extend credit to the public as a part of their normal operations. The other options (B, C, and D) are specific types of financial institutions and do not encompass the full range of organizations that make loans.

An Entity That, as Part of Its Normal Business Operations