Conglomerates that combine many financial institutions within a single corporation are classified as
A. preferred service corporations
B. commercial service corporations
C. financial services corporations
D. common service corporations
Answer: Option C
Solution (By Examveda Team)
Conglomerates that combine many financial institutions within a single corporation are classified as financial services corporations. Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual managers and some government-sponsored enterprises.This Question Belongs to Commerce >> Financial Management
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