Which is not true about bank classification in the Philippines? The Bangko Sentral ng Pilipinas cannot create an individual savings account. A Universal bank can also exercise the powers of Investment house and investment in non-allied enterprises but not of the powers of commercial bank. Cooperative Banks include cooperative rural banks.
Which is not true about bank classification in the Philippines? The Bangko Sentral ng Pilipinas cannot create an individual savings account. A Universal bank can also exercise the powers of Investment house and investment in non-allied enterprises but not of the powers of commercial bank. Cooperative Banks include cooperative rural banks.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which is not true about bank classification in the Philippines?
The Bangko Sentral ng Pilipinas cannot create an individual savings account.
A Universal bank can also exercise the powers of Investment house and investment in non-allied enterprises but not of the powers of commercial bank.
Cooperative Banks include cooperative rural banks.
Commercial banks has a lesser scope of functions than universal banks.
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