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3 years ago

What can be a cost of opening a basic checking account?

Business

2 answers:

ivanzaharov [21]3 years ago

5 0

Answer: High Fees

Explanation:

Checking accounts are very useful to the common person because of the liquidity they offer. With a Checking account, you are able to make withdrawals whenever you want by way of checks or ATM cards as many times as you want. Electronic transfers are available and depositing is quite simple.

In exchange for this high Liquidity though, the account receives low interest and can be subject to quite a number of fees.

Depending on the bank there are different fees attached with some of the most common being, Card processing fees, electronic and mobile banking fees, Overdraft fees, Maintenance fees and sometimes even a fee for letting the account drop below a minimum value.

dedylja [7]3 years ago

4 0

The CORRECT ANSWER is "check writing limits" I just took the test:) Hope this helps

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Anyone know how to do these economic credit score problems??

Usimov [2.4K]

Answer:

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Explanation:

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3 years ago

"A firm has $400,000 in credit sales and $100,000 in accounts receivable. Compute accounts receivable turnover and average numbe

erastova [34]

Answer:

45 days

Explanation:

Data provided

Credit Sales = $400,000

Accounts receivable turnover ratio = Credit Sales ÷ Average Accounts Receivables

= $400,000 ÷ ($100,000 + 0) ÷ 2

= 8 times

Average number of collection days = 360 ÷ Accounts Receivable turnover ratio

= 360 ÷ 8

= 45 days

Therefore for computing the average number of collection days we simply divide accounts receivable turnover ratio by 360.

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4 years ago

Flying High Manufacturing produces frisbees using a threeminusstep sequential process that includes molding, coloring and finis

zmey [24]

Answer and Explanation:

The journal entry is shown below:

WIP inventory - Coloring Dr XXXXX

To WIP inventory - molding XXXXX

(Being the transferring from the molding process to the coloring process is recorded)

For recording this we debited the WIP inventory of Coloring as it increased the assets and credited the WIP inventory of Molding as it decreased the assets

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3 years ago

Carlos has a small fashion company. He has been in business for a little over a year and the company looks like it is going to d

Vika [28.1K]

Answer: A.Venture capital firm

Explanation:

Carlos's company is a new business. One with growth potential and less than a year under it's belt and yet it has done some work with Calvin Klein. He now needs capital to continue the momentum and there is a specialized finance vehicle for people like him, Venture Capitalism.

Venture Capitalism refers to Venture Capital firms investing funds in growing or starting businesses. They have a high risk appetite which enables them to go into business with new firms. The key criteria is that there MUST be high Growth Potential.

Their strategy is simple, they invest in a new company in exchange of a certain amount of ownership of the business and then 4-6 years later exit the company when they are bought out.

Carlos's business is growing and has huge potential, if he doesn't mind sharing some of his ownership, Venture Capitalism is the best way to go.

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3 years ago

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rewona [7]

<span>Assif Mandvi's imitation of an american answering a call for "tech support" was an example of ethnocentrism. Ethnocentrism can be defined as the belief that one's own ethnic group is superior to other groups. Ethnocentrism is also the tendency to view other cultures from one's own perspective, instead of objectively.</span>

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3 years ago