Definitely C. Doesn’t even make sense
Answer:
A trial balance presents data in debit and credit format.
Explanation:
There are two sections in the trial balance, called columns of debits and columns of credits. The total columns of debit and credit should always correlate or matched. The debit columns report assets and expenditures side while revenues stockholder equity, and the liability side are reported in the credit column.
Answer:
A) has no effect on the cash payments for interest reported in the operating activities section of the statement of cash flows
Explanation:
The amortization is an accounting method to match the difference in the nominal interest rate of bonds with the real interest rate the bond is yielding.
Th cash flow statment will just recognize the cash proceeds, which are calculate base on the face value, regardless of the premium or discount in the bond.
Answer:
True
Explanation:
Financial services are the activities rendered by any financial institution such as the banks to their customers. Most of the services are done at a fee that makes the main source of revenue for banks. The revenue is spent to pay the overall expenses of the bank. If the expenses are lower than the revenue, a bank makes profit. If expenses exceed revenue, a bank makes loss which is not mostly the case. Therefore, it is true to say that banks work to earn a profit by selling financial services.
Answer:
a) legal promise to repay a debt.
Explanation:
A bond is an agreement that is made between the issuer or the bank or the financial institution and the borrower.
The agreement was made in written specify the terms and conditions which involve the borrowed amount, interest rate, and the time period in which the borrower promises to pay back the money to the financial institution.
