All categories

3 years ago

What is a major function of both retail and business banks?

Business

1 answer:

IRISSAK [1]3 years ago

5 0

Answer:

Explanation:

Retail banking is a banking system that deals directly with retail consumers. Retail banking is responsible for providing financial aid to the general population. The major function of retail banking includes providing financial aid, checking and savings accounts.

Business banks, on the other hand, are also a part of the banking industry. It specifically deals with corporates and businesses, ranging from small-sized businesses to large-sized corporates. The major function of corporate banking or business banking is also to provide financial aid, checking and savings accounts.

Therefore, option C is the correct answer.

You might be interested in

Ramirez Corporation sells two types of computer hard drives. The sales mix in terms of units is 30% (Q-Drive) and 70% (Q-Drive P

Citrus2011 [14]

Answer:

The weighted average unit contribution is $81 per unit.

Explanation:

The contribution per unit is the amount each unit contributes to covering the fixed costs. It is calculated by deducting the variable cost per unit from the selling price per unit.

The weighted average unit contribution is used when there are more than one product that a company produces and is used in calculating the overall or composite break even point. The weighted average unit contribution is the overall unit contribution for all of the products of the company according to their weights in the sales mix.

For a company that produces two products,

Weighted average unit contribution = Contribution per unit of Product A * Weight of Product A in sales mix + Contribution per unit of Product B * Weight of Product B is sales mix

Weighted average unit contribution = (150 - 90) * 0.3 + (195 - 105) * 0.7

Weighted average unit contribution = $81 per unit

6 0

3 years ago

Roquan, a single taxpayer, is an attorney and practices as a sole proprietor. This year, Roquan had net business income of $90,0

Ann [662]

Answer:

1) $18,000

2) $0

Explanation:

1) The wage based limits in business applies only to taxpayers with taxable income in excess of $157,500 or excess of $315,000, if it is a joint return.

Now, in this case, Roquan's taxable income which is $100,000 is less than the wage limits of $157,500 earlier stated. This implies that it doesn't qualify for wage-based limits.

Therefore, from business practices, Roquan will likely deduct 20% of the net $90,000 which is $18,000 to serve as deduction for qualified business income.

2) We are told that Roquan's taxable income before the deduction for qualified business income is now $300,000. What this implies is that his law practice would be judged to be a trade business and he would therefore not be eligible for deduction of the qualified business income.

Thus, it's $0.

5 0

3 years ago

A manager wants to determine the number of containers to use for incoming parts for a kanban system to be installed next month.

Ierofanga [76]

Answer:

the number of containers that should be used is 1.67 containers

Explanation:

The computation of the number of containers that should be used is as follows;

= Annual demand × time × (1 + inefficiency factor) ÷ holding pieces

= 71 × 0.83 × (1 + 0.16) ÷ 41

= 1.67 containers

Here The time is converted from minutes to hour i.e

= 50 minutes ÷ 60 minutes

= 0.83

Hence, the number of containers that should be used is 1.67 containers

6 0

3 years ago

At the beginning of the period, the Cutting Department budgeted direct labor of $136,000, direct materials of $156,000 and fixed

sammy [17]

Answer:

Explanation:

In this question, we will calculate the appropriate total budget for the department.

We employ a mathematical approach as follows;

direct labor =$136,000

direct material =$156,000

fixed factory overhead = $10,100

total cost will be ---- 136,000 + 156,000+ 10,100 = $302,100 (for 7,000 hrs of production)

the cost of 1 hr of production is 302,100/7,000= $43.16

so in order to extend it to 10,300 we need (10,300-7,000) = 3,300 more hrs of production

3,300 * 43.16 = 142,419

adding this to 302,100 + 142,419 = $444,519

4 0

3 years ago

Multiple Choice Question The changes in the non-cash balance sheet accounts explain the differences between the ______. Multiple

Blizzard [7]

Answer: income statement and the statement of cash flows

Explanation:

8 0

2 years ago