Credit unions are typically nonprofit, Savings and loans are for profit, and initially operated for depositors, but over the past 30 years have made numerous loans to nondepositors.
Commercial banks are often privately owned, but my be listed corporately owned, and are not operated for depositors. They do not, to my knowledge, pay profits in dividends, but ownership interests may vary.
Mutual savings banks are the savings depositories that are owned by depositors and distribute profits/dividends among the depositors.
Answer:
The years of repayment is 7.96 years
Explanation:
The number of years of the loan repayment can be computed using nper formula in excel.
=nper(rate,-pmt,pv,fv)
rate is the monthly interest rate which is 6.6%/12=0.0055
pmt is the amount of monthly repayment which is $2,400
pv is the amount of the finance package received which is $178,000
fv is the total amount of repayment which is unknown hence taken as zero
=nper(0.0055
,-2400,178000,0)= 95.55 months
= 95.55 /12 months=7.96 years
Answer:
b) false
Explanation:
OKR is a goal-setting method used by companies. It is impleemented using following steps
- Communicate the OKR
- Choose a tool used for OKR
- Organize the Company's OKR
- Set the company's OKR
- Set every single OKR for teams, departments and Individuals
- Make the changes in OKR if required
- Approve the OKR
- Evaluate the OKR at each period end.
So, the OKR cannot be implemented in a single step and it requires multiple steps.
Hence the given statement is false.
Answer:
E) General journal
Explanation:
The general journal is used to record all the accounting transactions carried out by a company. If the company uses an accounting tool software or a more complete ERP software, the transaction should be recorded immediately or as soon as possible.
For example, the journal record for this transaction should be:
- Dr Accounts Payable account 6,000
- Cr Cash account 6,000
