Abdul borrowed money from a company that keeps money for people. This source of credit is called _____. a. insurancecompany b. cooperative c. commercial bank d. merchant Need answer ASAP...
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Abdul borrowed money from a company that keeps money for people. This source of credit is called _____.
a. insurancecompany
b. cooperative
c. commercial bank
d. merchant
Need answer ASAP...
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- Peter uses a savings account with a bank. The contract between Peter and the bank is one of: D. Mutuum B. Commodatum C. Deposit A. AgencySuppose Mr. Ahmad and Mr. Akram are the current and saving account holders in an Islamic bank, respectively. Mr. Ahmad andMr. Akram have made payments to their vendors against credit sale through checks and they also made a gratuitous payment totheir relatives through checks separately. Please answer following considering scenario:II. Explain whether the transactions made by Mr. Ahmad and Mr. Akram are based on Hawalah. Please also specify theform of Hawalah in each situation, if any.Which of the following is not a common source of funds for a small business: Banks Equity in your home Margin Accounts Personal Savings A Promissory Note states which of the following: The amount of the loan The collateral for the loan The interest rate of the loan All of the above
- Abdullah has applied for a loan to start his business. Bank has checked the profile of Abdullah. Bank is ready to give him a loan but they are asking for a collateral. Which type of loan, bank is advancing to Abdullah? a. Cash credit b. Secured loan c. Personal loan d. Unsecured loanThe bill of exchange written by W states that BPI Family Savings Bank will get the reimbursement of the payment from W’s savings account. What element is present in this situation? A. There is an unconditional order to pay. B. There is period to pay the bill. C. It is payable to order D. None of the above The bill of exchange written by X indicates that for the payee to receive the money from the drawee bank, the payee must first sell his house and car and give the proceeds to charity. What element is present in this situation? A. There is an unconditional order to pay. B. There is period to pay the bill. C. It is payable to order D. None of the abovePol?e??er i? a direc?or of S??le P??? Limi?ed in?ol?ed in making ?omen?? clo?hing?Situation 1. She arranges with the compan??? bank ?o ?ran?fer an amo?n? of ??????? from ?he company account into a personal bank account held by her in her own name. She uses the funds to finalise some outstanding personal debts.Situation 2. As a director she receives information that the company is in a serious financial position. She arranges to transfer a larger amount of the assets of the company over a new proprietary company that she formed with the intention of caring on the same business.Situation 3. Contrary to a resolution of the Board and notwithstanding established business practice that limits credit to $20,000 she allows a trade debtor (who has a history of bad debts) to exceed its credit limits by $25,000. The debtor fails to pay the outstanding amount of $45,000. Can she rely on the business judgment rule in this situation?Required: Has she breached any duties under the Corporation Act in…
- Checking accounts are a common form of deposits for banks. Assume that Surety Storage has a checking account at Ada Savings Bank. What type of account (asset, liability, owner’s equity, revenue, expense, drawing) does the account balance of $11,375 represent from the viewpoint of (a) Surety Storage and (b) Ada Savings Bank?A friend owns a business that extends credit to its customers. The friend has asked you to helps with estimating uncollectible accounts and wants you to make a recommendation. Specifically, your friend is asking: Which of the two methods of estimating uncollectible provides for the most accurate estimate of the current net realizable value of the receivables?Prepare a service blueprint for each of these banking transactions: Make a savings deposit using a teller. Apply for a home equity loan.
- From a bank's viewpoint, a customer's account in the bank is considered a: a.donation. b.liability. c.contra asset. d.surplus. e.revenue.Based on the information above should Billy open a checking account or a savings account? Explain your choice by citing at least 2 benefits of the account type you chose and why those benefits are a good fit for Billy's current situtation.PROBLEM RECOGNITION TASK Determine the maximum deposit insurance coverage by PDIC in the following items. 3. Jessa Manucdoc has the following deposit accounts in a closed bank: Jessa Manucdoc’s modeling business (sole proprietorship) P300,000 Jessa Manucdoc P400,000 Jessa Manucdoc and Elmira Gersaniva P900,000 Jessa Manucdoc and Francia Cabezudo P500,000 What is the maximum deposit insurance coverage as far as Jessa is concerned?