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Q: What is a financial institution?
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Q: Why debtors control account may have credit balance
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Q: What is financial accounting?
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Q: FINANCIAL GATEWAY
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- Which one of the following statements is false?a. Consumer loans are loans banks advance to individuals.b. Loans are classed as liabilities on a bank’s balance sheet.c. Loans are classed as assets on a bank’s balance sheet.d. Deposits are classed as liabilities on a bank’s balance sheet.which of the following source of finance allows the holders to withdraw more than their balance ? a. Commercial Paper b. Bank Overdraft c. Credit card d. cash creditWhich of the following statements is false? A. Moral hazard is the lack of incentive to guard against risk where one is protected from its consequences. B. Information about a bank’s activities and financial performance is available in the bank’s financial statements. C. As long as everyone continues to accept the paper bills in exchange, they will have value and serve as currency. D. To an economist, money is the stock of assets that can be readily used to make transactions.
- Which statement is incorrect? a. Information and transaction costs related to financial market transactions would be higher if there is no participation of financial intermediaries. b. The common trait of savings banks, commercial banks, credit unions and savings and loan associations is that all of them accept deposits from SSUs and provide credit to DSUs through loans and purchases of securities. c. Finance companies act as a factor by purchasing a firm's receivables at a discount and subsequently processing and collecting the balances of these accounts. d. A lending company operating in the Philippines cannot charge more than 12% annual interest on the loans it grants to borrowers. e. none of the aboveDirection: Answer the following questions. The main difference between other financial institutions and banks is that other financial institutions cannot accept deposits into savings and demand deposit accounts, while the same is the core business for banks. Use your knowledge to explain the following financial institutions: 1. Insurance company 2. Investment Bank 3. Central BankA customer of a Bank Nizwa wants to know about the accounting treatment of advancing loans to Public by the bank. The branch manager of Bank Nizwa has replied to the customer that the loans provided to public will be recorded under the: a. Debit side of the income statement b. Liability side of the statement of financial position c. Assets side of the statement of financial position d. Credit side of the income statement
- Loan structuring is the process of designing a loan to satisfy the financing demands of a business borrower. At the same time, it tries to protect the lender against losses caused by the borrower's refusal to repay the debt, as well as the interest and fees associated with it. Determine the process of credit facilities structuring that takes place in the bank.1. If households and businesses lend their surplus cash directly to borrowers, there would be no need for financial institutions. Discuss the relevance of financial institutions with reference to this statement. 2. Describe four (4) categories of bank regulations that are established to deal with financial instability within the banking system. 3. Identify the major types of Off-Balance Sheet (OBS) activities engaged by a financial institution and discuss what a FI hopes to achieve with the use of OBS activities.Bank Muscat advances secured and unsecured loans to their customers. If Bank Muscat is issuing secured loans, identify which one of the following is the reason for bank to issue secured loan? a. To increase interest on loans by the banks b. To sell the collateral in the event of non-refund of the loan c. To have long standing relationship with customer d. To reduce the loan amount and time period
- Which statement is incorrect? Information and transaction costs related to financial market transactions would be higher if there is no participation of financial intermediaries. The common trait of savings banks, commercial banks, credit unions and savings and loan associations is that all of them accept deposits from SSUs and provide credit to DSUs through loans and purchases of securities. Finance companies act as a factor by purchasing a firm's receivables at a discount and subsequently processing and collecting the balances of these accounts. A lending company operating in the Philippines cannot charge more than 12% annual interest on the loans it grants to borrowers. none of the aboveWhich of the following is not a reason for the Jones Hardware Store to accept credit cards from customers? Group of answer choices A)Jones can receive its money faster than if it directly extended credit to the customer by an account receivable. b)The credit card company offers a discount to Jones so that Jones will have more money available for operations. C)Jones will not have to be concerned with nonsufficient funds checks from customers. d)Jones will not have to have extra office workers to make phone calls to customers requesting collections on accounts. E)All these are reasons to accept credit cards.Which of the following is supported with a debit memorandum? a.proceeds of bank loan b.collections already forwarded to the bank for deposit but too late to appear in the bank statement c.matured time deposits transferred by bank to the current account d.notes receivable collected by the bank in favor of the depositor e.charges for penalty
