Which of the Following Statements About Chartered Banks Is False

Multiple Choice

Which of the following statements about chartered banks is false?

A) A chartered bank is privately owned.
B) A chartered bank is profit-seeking.
C) Chartered banks are the main source of short-term loans for businesses.
D) A chartered bank is required to use funds obtained from savers to purchase portfolios of government bonds.
E) A chartered bank serves individuals, non-business organizations, and businesses as a financial intermediary.