Direction: Read the statements carefully. Write TRUE if the statement is correct. Otherwise, write FALSE. 1. A bank is a financial institution licensed to receive deposits and make loans and may also...

Extracted text: Direction: Read the statements carefully. Write TRUE if the statement is correct. Otherwise, write FALSE. 1. A bank is a financial institution licensed to receive deposits and make loans and may also provide financial services such as wealth management, currency exchange, and safe deposit boxes. 2. Debt financing is the process of raising capital through the sale of shares. 3. Equity financing is the riskiest among all the sources of financing. 4. Banks in the Philippines offer a fixed or standard term for business loans. 5. For government loans, when the borrower receives money from the approved loan, payments shall be deducted every month from their salary and will be forwarded to the government agency. _6. Loan requirements for a personal loan are just the same in a loan application for a corporation. _7. To avoid fraud, it is recommended to check the Philippine Stock Exchange (PSE) to see if a private lender is registered and has legitimate operations in the country. 8. Short-term financing is needed for the purchase of inventory for a clothing shop. 9. A franchise of a fast-food outlet requires short-term financing. 10. Financial institutions serve most people in some way, as financial operations are a critical part of any economy, with individuals and companies relying on financial institutions for transactions and investing.