Corporations such as Citigroup, American Express and Fidelity are classified as__________________?
Correct answer: A. Financial services corporations
- A. Financial services corporations
- B. Common service corporations
- C. Preferred service corporations
- D. Commercial service corporations
Explanation
Citigroup, American Express, and Fidelity provide financial products and services such as banking, payments, investments, and asset management, so they are financial services corporations. The other labels are not standard classifications for these firms.
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Business finance explains how organisations plan, obtain and use money while balancing risk, return and liquidity. Topics include financial statements, time value of money, budgeting, working capital, capital structure, sources of finance, investment appraisal and cost of capital. Capital budgeting evaluates long-term projects, whereas working capital manages day-to-day operations.
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