All categories

4 years ago

Banks work to earn a profit by selling financial services Group of answer choices True or false?

Business

1 answer:

insens350 [35]4 years ago

5 0

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.

You might be interested in

The CDC for hospitals and healthcare facilities to improve

Andreyy89

The CDC makes investments in infrastructure and healthcare systems to make them secure settings for patient care.

<h3>What are the Centers for Disease Control and Prevention?</h3>

The Centers for Disease Control and Prevention (CDC) is a government organization that carries out and supports health promotion, prevention, and preparedness operations in the United States. The Department of Health and Human Services oversees the CDC, which was founded in 1946.

Access resources and advice to help healthcare facilities plan, function efficiently, and handle surges.

Thus, CDC helps in improving the plans and functions efficiently to handle surges.

Learn more about CDC:

brainly.com/question/15887044

#SPJ1

7 0

2 years ago

Scarcity is a condition that is everywhere and always, since it is based upon two assumptions that reflect permanent universal c

mart [117]

Answer:

The world has limited productive resources

More output satisfies More wants

3 0

3 years ago

Assume that Live Co. has expected cash flows of $200,000 from domestic operations, 200,000 Swiss francs from Swiss operations, a

jok3333 [9.3K]

Answer:

$559,500

Explanation:

To find Live Co.'s expected dollar cash flows at the end of this year convert the Euro and Swiss francs amounts to dollar using their respective rates and then add all of the dollar amounts.

Swiss francs in dollars:

$S = 200,000*0.83 = \$166,000$

Euros is dollars:

$E = 150,000*1.29 = \$193,500$

Dollar cash flow:

$C=D+S+E\\C = \$200,000+\$166,000 +\$193,500\\C=\$559,500$

The company's expected dollar cash flows are $559,500.

8 0

4 years ago

In the current year, Crimson, Inc., a calendar C corporation, has income from operations of $180,000 and operating deductions of

Sergeu [11.5K]

Answer:

The answer is: D) Crimson’s dividends received deduction is $21,000

Explanation:

The dividends received deduction (DRD) allows a company that earns dividends from another company, to deduct those earnings (dividends) from its income tax.

The three tiers of possible deductions are:

If the company owns ≤20% of the second company, it can deduct 70% of the dividends received.
If the company owns ˃20% but ≤80% of the second company, it can deduct 80% of the dividends received.
If the company owns ˃80% of the second company, it can deduct 100% of the dividends received.

Since Crimson owned 15% of the second company, then it can deduct 70% of the dividends it received, which equals $21,000 ($30,000 x 70%).

5 0

3 years ago

_____ ratios compare current assets to current liabilities to indicate the speed with which a company can turn its assets into c

hodyreva [135]

Answer:

Liquidity

Explanation:

Liquidity ratios are those ratios that meet the current debt obligations and converted into cash within one year. It includes current ratio, quick ratios, dales sales outstanding, etc

Current ratio = Total Current assets ÷ total current liabilities

where,

The current assets include cash, stock, account receivable, etc

And, the current liabilities include accounts payable, salaries payable, et

Quick ratio = Quick assets ÷ total current liabilities

where,

Quick assets = Cash and cash equivalents + short-term investments + Accounts receivable (net)

Day sale outstanding = (Beginning Accounts receivable + ending Accounts receivable) ÷ Net sales × number of days in a year

8 0

4 years ago