Understanding Business
Understanding Business
11th Edition
ISBN: 9780078023163
Author: William G Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
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Chapter 18.4, Problem 18.4AQ
Summary Introduction

To discuss: The meaning of the statement that cash has a time value.

Introduction: Financial manager is a person who is responsible for financial health of the organization and also responsible to develop strategies, financial reports, plans for long term goals and gives advice realted to investment activities.

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At the end of the day, banks have to make money to survive. They make their money by charging interest on loans, or by selling CDs (Certificate of Deposit). In both cases, they intend to make money off of your money! Before a bank enters into a legal contract with you as their customer, they want to know all they can about you, your financial history, your current situation, and your financial future so they can make a wise choice. To make these decisions, banks walk very fine lines of ethics and privacy.  Describe the internal activities a bank manager should engage in to make sure employees are aware of required compliance with the Policy - be specific.
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