Final answer:
Parmalat falsely claimed to have a $4.8 billion account at Bank of America, leading to its bankruptcy. Lehman Brothers' bankruptcy in 2008 marked the start of a major economic crisis.
Step-by-step explanation:
The firm that falsely claimed to have a $4.8 billion bank account at Bank of America and vastly understated its debts, eventually resulting in the firm's bankruptcy, is C. Parmalat. This scandal was one of the major corporate frauds that came to light in early 2000s, involving a major dairy and food company.
In contrast, the investment banking firm that went bankrupt in 2008, signaling the beginning of a major economic crisis, was C. Lehman Brothers. The collapse of Lehman Brothers was a pivotal event in the global financial crisis.
Financial Institution: A bank is a place where individuals and businesses can deposit money, access loans, open accounts, and perform various financial transactions.
Physical Location: It can refer to a physical building where banking transactions are conducted, including teller services, ATM access, and customer service.
Banking Services: "Bank" can also refer to the services provided by these financial institutions, including checking accounts, savings accounts, credit cards, mortgages, and investment services.
River Bank: In a different context, "bank" could refer to the side of a river, often used for various activities like fishing, relaxing, or as a natural boundary.
Therefore the correct option is C.