The earnings in a cooperative are shared with member owners. The cooperative societies distribute the profits to its members based on the business transacted with the Cooperative society.
While preparing a bank reconciliation, a bank service charge was discovered. This adjustment would be recorded with a Credit to cash, debit to bank fees expense.
Bank Reconciliation is an important manner in accounting wherein agencies healthy their bank statements with the transactions which can be recorded in their preferred ledger. making ready a financial institution reconciliation statement facilitates businesses to put off viable errors in transactions or bookkeeping.
There are 5 principal kinds of bank reconciliation: financial institution reconciliation, consumer reconciliation, dealer reconciliation, inter-company reconciliation, and business-unique reconciliation.
In bookkeeping, a financial institution reconciliation is a procedure by using which the financial institution account balance in an entity’s books of account is reconciled to the balance said by using the monetary organization inside the maximum latest bank declaration. Any distinction between the 2 figures needs to be examined and, if appropriate, rectified.
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Answer:
The healthcare industry can be explained as the medical industry or healthcare industry. It represent to the health economy.
Explanation:
The industries that are represented in the community are the combination of integration aggregation sectors. These sectors provide the economic system to the society or community. For finance, the healthcare industries ae very important. These care the building blocks of economy of a country. The healthcare industry consists of Hospitals, mental and dental practice activities, midwives, nurses, psychologist, psychiatrist. These industries as grow as the people get employment. Healthcare industry is the big tycoon profession that help government in their economic growth. Many employment will occur due to these industries.
Moral Hazard occurs when a person increases its exposure to risk because someone else bears the the cost of those risk(Insurance companies)
Explanation:
Moral Hazard usually occurs when their is information asymmetry,the risk taking party has more information than the risk incurring party.
The financial crisis of 2008 is the best example of the Moral Hazard Problem.
The Moral Hazard Problem arises because the managers of the financial firm took over riskier investments because they believed that the federal government will save them from the bankruptcy.
