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Lena [83]
2 years ago
12

Select each of the tasks associated with opening a checking account.

Business
1 answer:
garri49 [273]2 years ago
5 0

Tasks associated with opening a checking account are:

  • Provide information such as name, address, date of birth, and Social Security Number.
  • Provide identification.
  • Deposit at least the minimum balance.
  • Sign an authorization card.

A checking account makes it simple to access your money for daily transactions while also keeping it safe. Typically, customers can pay their bills or make purchases using a debit card or a cheque. Different methods may be available for accounts to help avoid the monthly service charge.

A checking account's main function is to store your money in a safe location for a brief period of time, making it accessible when you need it to cover bills and other costs.

Customers who open checking account consent to make deposits into the account, and in return, the bank is obligated to carry out their payment instructions.

Before creating a checking account, it is important to weigh your options and find out whether or not the entity will charge you for maintaining the account and any related items. Being of legal age and fulfilling the conditions established by the chosen financial institution are the second prerequisites you must meet in order to open a checking account.

To know more about checking accounts refer to:  brainly.com/question/17014586

#SPJ1

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Suppose all of the banks in the Federal Reserve System have $100 billion in transactions accounts, the required reserve ratio is
ki77a [65]

Answer:

$25 billion

Explanation:

The difference between a 0.25 reserve ration and a 0.20 reserve ratio is 0.05, which represents $5 billion in available money (= 0.05 x $100 billion).

If the total bank reserves is $100 billion, and the reserve ratio is 0.20, the money multiplier = 1 / 0.20 = 5.

If the banks have $5 billion available for loans and the new money multiplier = 5, then the lending capacity of the banking system will increase by $25 billion (= $5 billion available x money multiplier).

7 0
3 years ago
At December 31, 2020, the following information was available for Concord Corporation: ending inventory $35,750, beginning inven
Evgen [1.6K]

Answer:

a. Inventory Turnover = 5.299 times or 5.30 times

b. Days in Inventory = 69 days

Explanation:

a)

To calculate the inventory turnover, we first need to find out the avergae inventory. The average inventory is calculated by adding the opening and the closing inventory and dividing the sum by 2.

  • Average Inventory = (35750 + 63500) / 2 = $49625

The inventory turnover is,

  • Inventory Turnover = Cost of Sales / Average Inventory
  • Inventory Turnover = 263000 / 49625 = 5.299 times or 5.3 times

b)

Days in inventory is the period for which, on average, the inventory is kept and sold completely.

We can calculate days in inventory simply by dividing the number of days for which we are calculating the ratio for, say in this case one years or 365 days by the inventory turnover ratio we calculated.

Days in inventory = 365 / 5.30 = 68.8679 or 69 days

4 0
3 years ago
What is telemarketing?
jasenka [17]

Answer:

Using the telephone or the Internet to promote products or services to prospective clients is known as telemarketing. Outbound calls, inbound calls, lead generation calls, and sales calls are the four most prevalent types of telemarketing calls.

Explanation:

Hope it helps:)

8 0
3 years ago
Read 2 more answers
Which of the following statements is the most accurate? a foreign corporation:
ludmilkaskok [199]
A foreign corporation:
a. does business in one or more states, but is chartered in another state.
5 0
4 years ago
James madison wanted to prevent “factions,” or special interest groups. would it be possible to have government without interest
Darya [45]

Yes absolutely however we wouldn't have all those campaign ads that run Television Channels which are salaried for by special interests. Additionally the politicians wouldn't have as much cause to use their own money since the special interest groups wouldn't be paying them off in back room deals.

On more things is that if there were no interest groups, then one group would have most of the say. The rest of the populace would not have a form of representation. So it is extremely important to have interests groups.

8 0
4 years ago
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