The objective of price stability refers to the general level of prices in the economy. It implies avoiding both prolonged inflation and deflation. Price stability contributes to achieving high levels of economic activity
The use of the <u>internet </u>allows bank customers the ability to complete most transactions electronically without leaving home.
<h3>What is Internet?</h3>
Internet help to transmit data or information across a network, making it possible for internet user to communicate and exchange information.
Example of internet are:
- WAN which full meaning is Wide Area Network.
- LAN which full meaning is Local Area Network.
Hence, internet play an important function as it make it possible for bank customers to complete their transactions electronically or to carryout their transaction online without having to leave their various homes.
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EcoMart establishes General Journal
May 2
Dr Petty cash 1050
Cr Cash 1050
May 30
Dr Merchandise inventory 120
Dr Postage expense 359
Dr Miscellaneous expenses 240
Dr Cash short and over 9
Cr Cash728
June 1
Dr Petty cash 150
Cr Cash 150
Workings:
May 30,Merchandise inventory 120+ Postage expense 359+ Miscellaneous expenses 240+ Cash short and over 9 = $728
June 1
1050-1200= 150
A subsidized loan is such a loan where the borrower is allowed to borrow up to the cost of attendance less any other aids received.
<h3>What is a subsidized loan?</h3>
A type of education or student loan where the amount to be borrowed is determined as per the cost of the student's attendance, which is subtracted from other financial benefits received in this regard, is known as a subsidized loan.
Hence, subsidized loan is explained as above.
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