Company Account - Financial System: Definition - SS2 Accounting Past Questions and Answers - page 1
Which of the following is a part of the financial system?
Banks
Supermarkets
Hospitals
Parks
What is the role of the financial system?
To transfer money and financial assets
To provide healthcare services
To manufacture goods
To provide transportation services
Which of the following is an example of a financial intermediary?
Supermarkets
Insurance companies
Schools
Restaurants
What is the function of the financial system?
To promote economic growth and stability
To provide healthcare services
To manufacture goods
To provide transportation services
Which of the following is NOT a part of the financial system?
Banks
Stock exchanges
Bond markets
Supermarkets
What are the main components of the financial system?
The main components of the financial system are institutions, markets, and instruments.
What is the importance of the financial system in the economy?
The financial system is important for the economy as it facilitates the allocation of capital, the management of risk, and the transfer of funds between savers and borrowers. It also promotes economic growth and stability.