Which of the following is a false statement?

Question

A
Banks are insured by the government.

B
Money can be stolen or lost if you keep it at home.

C
If your bank goes out of business, you lose your money.

D
Your money can grow if you keep it in a bank account.

Answer 1

The false statement is:

C. If your bank goes out of business, you lose your money.

This is false because in most countries, including the United States, deposits in banks are insured by government agencies (like the FDIC in the U.S.) up to a certain limit. This means that if a bank fails, depositors do not lose their insured funds.