Answer:
Food is need but having fast food from expensive restaurants is want.
Car is considered as a luxury its is a want, travelling from bus is a need.
Having small studio apartment to live is need but buying expensive villa is want.
Buying new clothes is need when old clothes are torn.
Shopping from grocery stores is need, shopping from malls is want.
buying branded shoes is want but having normal shoes are need.
Explanation:
These is difference between human needs and wants. A person may want so many luxuries in life but actually he can survive without buying it. Needs are the things without which survival of a person is risk.
Answer:
$570
Explanation:
The computation of the interest deduction is shown below:
= Interest paid × number of months ÷ (total number of months in a year)
= $3,420 × 2 months ÷ 12 months
= $570
The interest which is deducted in year 0 under the cash method of accounting is $570
And, the two months is calculated from the November 1 to December 31
We simply apply the interest paid formula.
Answer:
Gross Income is the answer!
Explanation:
Answer:
provide loans to consumers.
Explanation:
Banks use the money savings accounts to issue loans to customers. The loans issued become assets to the banks. A Bank make profits by charging higher interest on the loans than the interests they offer on savings. The interest charged on loans is the main source of revenue for the banks.
Banks loan out to businesses and households to finance investments and consumption. Savings accounts become a pool to collect funds that businesses can borrow to finance their expansion. Individuals also borrow for consumption and personal development
