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pogonyaev
3 years ago
7

What is a major difference between retail banks and credit unions?

Business
2 answers:
Ksju [112]3 years ago
6 0

Answer:

The answer is B Retail banks operate in order to earn profit, while credit unions are nonprofit.

Explanation:

Just took the test :)

Bezzdna [24]3 years ago
5 0

Answer:

Retail banks operate in order to earn profit, while credit unions are nonprofit

Explanation:

What is a major difference between retail banks and credit unions?

Retail banks only serve businesses, while credit unions only serve individuals.

  • This answer is false, both retail banks and credit unions serve businesses and individuals.

Retail banks operate in order to earn profit, while credit unions are nonprofit.

  • This answer is true, retail banks earn profits while credit unions are non-profits.

Retail banks only have small local branches, while credit unions are nationwide.

  • This answer is false. Generally speaking, retail banks have a much larger geographic footprint  than credit unions. Many retail banks are found across the entire country (and sometimes world!) but most credit unions are focused on serving their local community.

Retail banks manage a person's money, while credit unions focus on providing loans.

  • This answer is false. Both retail banks and credit unions offer money/investment management services in addition loans. The financial products offered by retail banks and credit unions depend on the market served and business conditions.
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Use the following information to compute NET INCOME.
maks197457 [2]

Answer:

c. $1,890

Explanation:

As for the provided information, we have

Net income is the income after allowing expenses of every nature, and after taxes, but does not include the dividend as is not an expense but allocation or distribution of profits.

Thus net income shall be as follows:

Sales - Expenses

Sales = $10,000

Expenses = $4,000 + $1,100 + $1,750 = $6,850

Profit before taxes = $3,150

Less: Taxes @ 40% = $1,260

Net Income = $1,890

Correct option is

c. $1,890

5 0
3 years ago
Rachel pushed very hard to go with Project A rather than Project B. There have been several cost overruns, the project is two we
igomit [66]

Answer:

a. escalation of commitment

Explanation:

  • Growth of commitment is a kind of behavioral model of human beings in which people make decisions about different types of negative outcomes or different types of investments from their actions.
  • It basically happens in our daily lives in business and it is a risk factor for the company because it provides less satisfaction.
  • Rachel is primarily engaged in an increase in commitment because Rachel faces a wide variety of problems in the bubble project compared to the Wave project and this increases the overall funding of the product.
4 0
3 years ago
Assume the following ratios are constant: Total asset turnover 3.00 Profit margin 5.9 % Equity multiplier 1.50 Payout ratio 35 %
Lesechka [4]

Answer:

Sustainable growth rate = 20.86%

Explanation:

Given the total asset turnover = 3

Profit margin = 5.9%

Equity multiplier = 1.50

Payout ratio = 35%

Sustainable growth rate =  ROE * (1 – payout ratio) / 1- ROE * (1 – Payout ratio)

ROE = Profit margin * total asset turnover * equity multiplier  

ROE = 5.9 * 3 * 1.5

ROE = 26.55%

Sustainable growth rate = 0.2655 * (1-0.35) / 1 – 0.2655 * (1-0.35)

Sustainable growth rate = 20.86%

7 0
3 years ago
Identify at least five different careers in the Education and Training or Government and Public Administration clusters you coul
Ira Lisetskai [31]

Answer:

Hydrologist

Architect

Naval architect

Architectural or civil drafter

Materials lab and supply technician

Explanation:

5 0
3 years ago
Corporations whose stock is traded in a public market must report earnings per share on their a.balance sheet. b.statement of st
kodGreya [7K]

Answer:

d.income statement.

Explanation:

A corporation can be defined as a corporate organization that has facilities and owns or controls assets used for the production of goods and services in at least one country other than its headquarter (home office) located in its home country.

This ultimately implies that, a corporation is a corporate organization that owns or controls its business in two or more countries.

One of the advantage of a corporation is that, owners have limited liability for debt to the extent to which they have invested and as such are not personally liable for some of debt owed by corporation.

Generally, it is considered to be one of the most complicated and expensive type of organization. Generally, a corporation is considered to be perpetual in nature and it is a body that comprises of a group of people such as directors, shareholders etc., who act as a single entity. Also, corporations can be sold through stocks or shares, as a public entity.

A corporation that its stock is being traded in a public market is required to report earnings per share on their income statement.

5 0
3 years ago
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