A Bank is a financial institution that helps with the management of money, gives out loans, and gets profits in return. Banks only provide a means through which taxes are paid by opening an account for the government. Banks help people save their money, issue credit cards, store money in a safe place, etc. It is the function of the tax revenue service hired by the government to perform this duty. Hence, it is not within the banks' jurisdiction to collect taxes.
<span>Retained earning is one such source for long-term financing needs of the company. It is accumulated over a long period and is favourable source in such case.</span>
