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BlackZzzverrR [31]
2 years ago
14

In which situation would a banker's draft be used?

Business
1 answer:
MrMuchimi2 years ago
6 0

Banker's draft can be used when the person making the payment wants money to be

available in the receiving bank's account.

<h3>What is bank draft?</h3>

Banker's draft is a a form of cheque that is given to a customer at the bank either for a purchase payment.

It can also be brought to another bank for remittance, it serves as evidence for transactions.

Therefore, a banker draft can be used when the person making the payment wants money to be

available in the receiving bank's account.

Learn more on bank's draft here,

https://brainly.com/question/6906511

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Arlecino [84]

Answer:

1 . Debit Asset , bank increase normal balance is Debit balance , Credit Equity stock increase , normal balance is credit balance

2 . Debit Asset , Vehicles , increase , normal balance is Debit balance . Credit Asset , Bank , decrease , normal balance is Debit balance

3 . Debit Expense , Supplies , increase , normal balance is Debit . Credit Liabilities , Accounts payable , increase , normal balance is credit balance .

4 . Debit Asset , Accounts receivable , increase , normal is balance Debit . Credit Income , Service rendered , increase , normal balance is Credit balance .

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6 . Debit Asset , Bank , Increase , normal balance is Debit balance . Credit Asset , Accounts receivable , Decrease , Normal balance is Debit balance .

7 . Debit Liability, Accounts payable, decrease, normal  is balance credit balance . Credit Asset, Bank, Decrease, normal balance is Debit balance .

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Explanation:

6 0
4 years ago
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malfutka [58]

Answer:

c

Explanation:

5 0
3 years ago
Read 2 more answers
1. Explain who the Lemon Law protects.
PilotLPTM [1.2K]
It's to insure that manufacturers honor their warranties and to reduce the chance that a consumer will be misled about the nature of the purchase.
8 0
4 years ago
Erin works at a financial Institution. She has offered a housing loan to a customer. While carrying out the transaction, which l
disa [49]

Answer:

D. Ensure that she credits the loan amount accurately to the customer's account.

Explanation:

Financial institutions are companies that offer a wide range of monetary and financial services to various customers. The financial institutions include; commercial banks, brokerage firms, investments firms and currency exchange companies. The services offered are; cash deposits and withdrawals, loans, investment services and currency exchange services.

These services can be offered to individuals or even companies that might need a wide range of financial services. In order for these services to be conducted in an orderly fashion, the services offered have to be regulated. This means that the service providers and the customers have to operate within a legal threshold. A knowledge of the legal responsibility of each party is therefor important in these type of environment.

In our case, the legal responsibility of Erin who works as a representative of the financial institution would be to ensure that she credits the loan amount accurately to the customer's account since Erin had already approved the customer's housing loan.

5 0
3 years ago
In a perfectly competitive market, the price of the product is
Mkey [24]

Answer:

b. set by market supply and demand. 

Explanation:

A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Because goods are homogenous and there are many buyers in the industry, sellers do not set the price for their goods and services. Prices are set by the market forces of demand and supply. This makes sellers price takers.

Other features of perfect competition are :

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I hope my answer helps you.

7 0
4 years ago
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