All categories

3 years ago

Which of the following is not a type of bank? A. Credit Union B. Online Bank C. Payday Lender D. Retail Bank

2 answers:

7 0

The answer from given choice is "C", "Payday Lender" is not a type of bank.<span>

Payday lender involve the basic loan procedure where a lender is providing a short-term loan which has to be paid back when the borrower's next payday come, that is a simple loan process which has nothing to do with a bank.</span>

Evgesh-ka [11]3 years ago

6 0

<u>Option C is correct. A payday lender is not a type of bank. </u>

Further Explanation:

Bank provides various services to the customer. Bank provides the facility of savings to the customer and also provides the loan to the customer. The customer saves his income and getting interest in it. When the customer takes a loan from the bank, the bank charged the interest on the loan amount. The main function of the bank is to provide the facility of savings and loans.

Justification for the correct and incorrect answer:

Credit union: This option is incorrect.

A credit union is a type of bank that is a not - profit making organization. The main purpose of this bank is to save the money for future use and provides a loan at a less interest rate.

Online bank: This option is incorrect.

Online bank refers to internet banking in which the customer transfers the funds. It is also a type of bank that provides the facility of transferring the funds.

Payday lender: This option is correct.

A payday lender is not a type of bank. The lender provides loans to the borrower on the agreement at a higher interest rate. The main purpose of this is to provide loans at a higher rate.

Retail bank: This option is incorrect.

A retail bank is also a type of bank. This is a local branch of the large banks, the customer directly goes to this bank and do the transactions.

Learn more:

1. Learn more about national retail banking

<u>brainly.com/question/7706363 </u>

2. Learn more about collateral security

<u>brainly.com/question/9913858 </u>

3. Learn more about federal reserve bank

<u>brainly.com/question/9417688 </u>

Answer details:

Grade: Middle School

Subject: Accounting

Chapter: Banking

Keywords: retail banking, payday lender, is not a type, of bank, various services, saves income, provides loan, at a lower interest rate, facility, credit union, online bank, payday lender, retail bank.

You might be interested in

Samantha, who is single and has MAGI of $36,000, recently was employed by an accounting firm. During the year, she spends $1,650

jek_recluse [69]

Answer:

a) $0

b) $4,000

Explanation:

No deduction will be allowed to samantha for the amount spent on CPA exam review course.

So, Samantha can deduct $0.

Under section 222 of IRS Code, maximum amount of deduction allowed to tax payer (whose adjusted gross income is less than $65,000) on account of tuition fees and other education expenses is $4,000.

So, Samantha can deduct $4,000.

Hope this helps!

7 0

2 years ago

A person in the organization has the ability to given bonuses to employees as part of a corporate compensation program. This is

skad [1K]

A person in the organization has the ability to given bonuses to employees as part of a corporate compensation program. This is an example of reward power.

<h3>What is reward power?</h3>

This is a term that is used formally in the workplace to refer to a power that has been given by people to give out rewards to other workers in the workplace.

A supervisor who gives incentives to workers is an example of a person that holds such a power.

Raed more on reward power here:

brainly.com/question/4068765

#SPJ1

7 0

1 year ago

Unemployment is often called a lagging or trailing indicator because unemployment tends to rise some time after the economy begi

andrezito [222]

Answer:

B) firms reduce hours before laying off when the economy is in recession, and increase hours before hiring when the economy expands.

Explanation:

In the case when the output falls so the workers would not be laid off in a direct manner. In the first time the labor would be decreased so that the demand could be analyzed. The same would be happen in that case also where the growth picked up

Therefore in the given case, the option B is correct

And the other options are wrong

7 0

2 years ago

How is creating a report with the report wizard different from creating one with the report button?

pickupchik [31]

The creation of report with the report wizard differs from creating one with the report button because the report wizard allows the user to have more options and flexibility in the design.

<h3>What is a report wizard?</h3>

This refers to the self-service reporting solution that enables users to create business reports quickly and efficiently.

However, the creation of report with the report wizard differs from creating one with the report button because the report wizard allows the user to have more options and flexibility in the design.