lease answer the following questions. 1. decreases the equity account because the business withdrew cash 2. formed in accordance with a cooperative code of the philippines
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Please answer the following questions.
1. decreases the equity account because the business withdrew cash
2. formed in accordance with a cooperative code of the philippines
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- The 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 aboveThe Reserve Bank of Australia's role in the processing of payment instructions is to: calculate the total balance of payment instructions deposited with a bank. verify that a payment instruction can be honoured by the writer. prevent non-bank financial institutions from allowing their customers to be provided with access to non-cash payment instruments. to record net differences in each financial institutions ES account. • Previous NextLORO account will involve a O a. Mediator O b. New bank account O c. Correspondent Bank O d. Foreign Bank
- 1- Depositors are free to decide the frequency and amount of their transactions Group starts. True or False 2- Credit transfers are Instructions from the customer (account holder) to the bank to pay a fixed amount at regular intervals into the account of someone else (Individual or company). True or False. 3- Globalization is the evaluation of markets and institutions such that geographic boundaries limit financial transactions. True or FalseBahwan LLC wants to expand its business in the Middle East. Which of the following services of a bank can protect its business? O a. Lockbox services O b. Lending money OC. Payment and transaction processing Od. Letters of creditS1: It is possible to create as many payment methods as required using Payment Means. In addition, it allows you to link specific payment methods to relevant business partners. S2: A deposit document must be processed in order to transfer the funds from the clearing account to the house bank account and clear the customer account. Both statements are incorrect Only S1 is incorrect Both statements are correct Only S1 is correct
- Which is not true about the Banko Sentral ng Pilipinas and the Philippine banking industry? a. Banks are engaged in lending of cash which were acquired from the public the form of deposits b. One of the powers that the Universal bank can exercise includes the power of an investment house c. The members of the monetary board of the Banko Sentral ng Pilipinas is appointed by the president of the Philippines d. Banko Sentral ng Pilipinas is the primary government agency that facilitates the planning and implementation of fiscal policiesThe following flow diagram illustrates a documentary bank collection as a method of payment in an international trade transaction. Fill in the missing information for 5.1-5.6, and then describe steps 1 to 6. 2 Seller 5.1 5.2 Seller's Bank 6 Shipment 1 5 5.3 5.4 3 Buyer 5.5 5.6 Buyer's BankWhich of the following holds deposits, makes loans and provides other financial services to member-owned organizations? a. Central Bank of Oman b. Mutual Funds c. Commercial Banks d. Cooperative Banks
- 1. Why don’t the additions and deductions from the bank balance on a bank reconciliation require adjustment by the company? 2. Do all transactions by U.S. companies with foreign parties require special accounting procedures by the U.S. companies? Explain.5. Which statement is INCORRECT in relation to the practice of public accounting?* A. Single practitioners for the practice of O public accounting shall be registered CPA in the Philippines. B. Partners of partnership formed for the O practice of public accounting shall be registered CPAS in the Philippines. C. The Securities and Exchange Commission can register any corporation organized for the practice of public accounting D. The Professional Regulation Commission upon favorable recommendation of the Board of Accountancy shall issue O certificate of accreditation to CPAS in public practice provided the registrant has acquired a minimum of three years of meaningful experience in public practice.What is the main purpose of accounts receivable in factoring? a. To meet immediate cash needs of the business b. To create an additional guarantee of collection c. To invest accounts receivable in another business d. To establish a legal proof for future use