Q911
Corporations such as Citigroup, American Express and Fidelity are classified as
A.
financial services corporations
AnswerB.
common service corporations
C.
preferred service corporations
D.
commercial service corporations
Answer: Option A
Solution
Answer: Option A
Solution:
Corporations such as Citigroup, American Express and Fidelity 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.