when a company establishes a credit line with a bank, it is the same as borrowing from the bank True or false?

Q: In a commercial bank, interest rate set for customers are the bank's assets. loans disbursed to…

A: Assets are owned by the bank whereas liabilities are to be paid by the bank. The detailed…

Q: What does liabilities mean for the balance sheet of any bank? Explain briefly.

A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…

Q: In preparing a bank reconciliation, explain how you would do the reconciliation if the bank…

A: Bank reconciliation statement is a statement prepared to reconcile the balance as per bank statement…

Q: This is the PRIMARY FUNCTION OF COMMERCIAL BANKS  TRUST FUNDS SAFE DEPOSIT BOXES EXTEND CREDIT…

A: 1.Trust Fund is an entity that holds property on behalf of someone 2.Safe Deposit Boxes means…

Q: The type of deposit account preferred by business organizations is: Current deposits Savings bank…

A: Bank offers different types of accounts named as savings, current overdraft, and many others…

Q: The accounting treatment of a transfer fees by a bank is: a. An interest income b. An interest…

A: Introduction: Interest: Interest is the amount charged on the principle amount. Interest is…

Q: Briefly explain about Managing Banking and financial services: Services offered through Banks.

A: Banking services refer to the facility provided by the banks. These are services provided by the…

Q: Explain how will you analyze Financial Statements of a Bank.

A: Bank financial statement  Although banks' financial statements generally follow a similar format to…

Q: Bank Muscat advances secured and unsecured loans to their customers. If Bank Muscat is issuing…

A: Secured loans are the loans which provided to borrower after taking collateral security. Unsecured…

Q: Every deposit accepted by the bank constitutes: a. A credit on the part of the banker towards the…

A: Deposit: It is a financial term which means money held at bank.

Q: What is the use of a bank reconciliation statement

A: BRS refers to bank reconciliation statement. It is a statement prepared by various organisations or…

Q: After preparing a bank reconciliation, what adjustments does the company need to make to its…

A:

Q: ethods used by a bank to monitor bank advan

A: A loan from a bank to a third party with the understanding that the loan will be repaid. Almost all…

Q: Which of the following is money kept by the firm with a bank in low-interest or non-interest bearing…

A: Loan is a part of financing in which a bank or institution lends money to the business in exchange…

Q: From a company’s point of view, which of the following statements best describes an “outstanding…

A: Outstanding check: When company issue the check to the vendor/creditors but they do not present the…

Q: Suppose a bank offered to make loans to potential borrowers without checking their credit history.…

A: The banks generate their income mainly from the difference between the lending rate and the rate…

Q: Statement I: A customer is any person, firm or company which has a bank account and for whom the…

A: Statement I: A customer is any person, firm or company which has a bank account and for whom the…

Q: Under what conditions may a bank refuse to make payment?

A: Conditions:- - when the customer has died - customer had insane or insolvent. - customer lost the…

Q: describe the structure of a bank bill. In your explanation, clearly distinguish the roles of the…

A: Introduction: An invoice of barter is a criminal assumption that binds one party to pay another a…

Q: A company repays its bank borrowings.  The entry to record that transaction should be Group of…

A: Borrowing means where business taken loan from outsider to be used in business and repaid later.

Q: Who is responsible for preparing the bank reconciliation and what is the purpose of it

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: NSF results in a bank crediting one’s account. True or false

A: Non-sufficient funds in banking terms means that there is not enough money in the account to pay the…

Q: What is the purpose of preparing a bank reconciliation?

A: Bank reconciliation is prepared to reconcile the company's cash book that is reconciled with its…

Q: A person is called a customer of a bank when he/she

A: The bank institution is a financial institution helps to keep our money safe.

Q: A. What is a bank reconciliation and why is it important for companies to do it periodically?

A: Balance per bank Add : Undeposited collections Total Deduct : Outstanding checks Check No. x…

Q: What is your preparation in doing bank reconciliation? Can you be able to reconcile bank to book…

A: The answers for the questions on Bank Reconciliation Statement are discussed hereunder : Bank…

Q: When an entity's bank account in the general ledger has a credit balance, this means that the entity…

A: Normally all assets of the business have debit balance and all liabiliites have credit balance.…

Q: Which one of the following is true of a signature​ card?         A. It is the same as a deposit…

A: Solution: A signature card is a document that a bank kept it with the signatures of all the…

Q: Would a bank service charge be added to or subtracted from the company's books or the bank statement…

A: Bank reconciliation: Bank reconciliation is a statement which is prepared to reconcile the cash…

Q: Why does a bank credit a customer's account when the customer makes a deposit and debit the account…

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

Q: Describe the nature of banking. What are the functions of banks? Give

A: Banking refers to a broad range of financial institutions that hold funds for individuals,…

Q: How is a line of credit issued by a bank similar to a credit card?

A: Line of credit is the amount that bank or any other financial institution has allowed to lend to the…

Q: Which field typically appears in the Bank Register but not usually in reports?

A: QuickBooks is accounting software used by small and medium-sized businesses to get good accounting…

Q: Choose the function and service of a bank in which Bank Purchases and sells securities, shares and…

A: A bank provides different functions to its customers along with core banking services and some…

Q: A checking account is: OPTIONS: an asset to a commercial bank. a liability to a commercial bank. an…

A: A checking is a bank saving account which is opened with a commercial bank by a customer. He can…

Q: Why is there a need for  banking regulations to regulate savings  and  the lending of money by…

A: Banks are one of the most important financial institutions. Banks play an integral role when it…

Q: What is the name given to a subsidiary of a firm that exists solely to handle the credit functions…

A: Captive Finance company is the name given to a subsidiary of a firm that exists solely to handle the…

Q: What are credit memos and discuss the treatment in the preparation of bank reconciliation.

A: Bank reconciliation statement is a statement in which closing balances of bank & cash book(bank…

Q: 1. What do you think are conditions that must be met if the banker is to honor the customer's…

A: Banks accepts deposits from the customer, so they become liable to repay the amount to the customer…

Q: In a bank, the employee interacting with someone seeking a loan does not have the authority to grant…

A: PLEASE LIKE THE ANSWER  IT IS THE PART OF BANK'S INTERNAL CONTROL. As, THAT THE PERSON ADVISING THE…

Q: For an investment bank, bank office refers to a department which directly generate revenue for the…

A: Note: Bank office is considered as the Front office for an investment bank because there are total…