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10 September, 11:44

Banks work to earn a profit by selling financial services Group of answer choices True or false?

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  1. 10 September, 15:19
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    True

    Explanation:

    Financial services are the activities rendered by any financial institution such as the banks to their customers. Most of the services are done at a fee that makes the main source of revenue for banks. The revenue is spent to pay the overall expenses of the bank. If the expenses are lower than the revenue, a bank makes profit. If expenses exceed revenue, a bank makes loss which is not mostly the case. Therefore, it is true to say that banks work to earn a profit by selling financial services.
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