Bank loans often are arranged under existing lines of credit. What is a line of credit? How does a line of credit work?

Q: An account issued by banks yielding a market rate of interest with a minimum balance requirement and…

A: Certificate of deposit is a certificate issued by the banks for fixed period, there is no…

Q: Investigate the procedures in your financial institution in granting credit cards and the possible…

A: The procedures in my financial institution (it is a bank) in granting credit cards are discussed…

Q: This is the PRIMARY FUNCTION OF COMMERCIAL BANKS  TRUST FUNDS SAFE DEPOSIT BOXES EXTEND CREDIT…

A: 1.Trust Fund is an entity that holds property on behalf of someone 2.Safe Deposit Boxes means…

Q: How will the following items affect the pass book balance?  Direct payment by customer into the…

A: Pass book: A pass book issued by bank to its customers for the transactions carried out with bank…

Q: The host of payment services offered by Banks do not include the following: O a. Cheque facility O…

A: The general service which are offered by a bank to all the customer are banking transaction of…

Q: Is the following statement true or false? Open-end loans are often called line-of-credit accounts. O…

A: A loan provided by a financial body to a borrower that has a pre-approved credit limit and can be…

Q: What is the difference between a credit card and a debit card? O A credit card is loaned money, plus…

A: Debit card is the facility given by the banks to their customers so that they can withdraw cash from…

Q: Bank rates on credit card balances are usually similar to the rate charged on business loans.…

A: A credit card's interest rate, often known as a 'financing charge,' is the rate levied by credit…

Q: Bank Muscat advances secured and unsecured loans to their customers. If Bank Muscat is issuing…

A: Secured loans are the loans which provided to borrower after taking collateral security. Unsecured…

Q: Explain the difference between how you would characterize bank deposits and loans as assets and…

A: Balance sheet: This financial statement reports a company’s resources (assets) and claims of…

Q: Every deposit accepted by the bank constitutes: a. A credit on the part of the banker towards the…

A: Deposit: It is a financial term which means money held at bank.

Q: nvestigate the procedures in your financial institution or a bank of your choice, in granting credit…

A: A financial institution exists to provide consumers, corporations, or both with a wide range of…

Q: which of the following source of finance comes with a line of credit ? a. Credit card b. Mutual Fund…

A: There are various sources of finance

Q: What is credit history? A record of a person's borrowing and repayment activity used to calculate…

A: Credit history checks if the borrower has been responsible with the debt payments or not. It checks…

Q: How the interest rate affects the release of credit card

A: Given,

Q: What is a line of credit? A revolving credit agreement?

A: If a lender offers a revolving loan account, a particular credit cap is allocated to the lender.…

Q: Under what conditions may a bank refuse to make payment?

A: Conditions:- - when the customer has died - customer had insane or insolvent. - customer lost the…

Q: What are some of the assets and liabilities associated with credit cards?

A: Introduction: A credit card can be defined as a small piece of card which is offered by banks or any…

Q: What is the basic obligation of a depositary bank to its depositor

A: Depositor means a person who deposits money into the bank for the purpose of savings. Depositary…

Q: What is bank reconciliation and how do l prepare a bank reconciliation statement

A: Answer is provided as follows:

Q: What is meant by a line of credit?

A: Credit refers to the concept is being defined as the financial agreement where the borrowers receive…

Q: Which account in the bank helps the customers to deposit and withdraw when they need it? a. Savings…

A: Introduction: Banks: Banks accepts deposits from customers and gives loans to who are needed. It…

Q: What is your preparation in doing bank reconciliation? Can you be able to reconcile bank to book…

A: The answers for the questions on Bank Reconciliation Statement are discussed hereunder : Bank…

Q: Describe the nature of banking. What are the functions of banks? Give

A: Banking refers to a broad range of financial institutions that hold funds for individuals,…

Q: How is a line of credit issued by a bank similar to a credit card?

A: Line of credit is the amount that bank or any other financial institution has allowed to lend to the…

Q: What are two common methods used when accepting deposits for credit card and debit card…

A: Two common methods for deposits of proceeds from credit card sales are: Gross method Net method

Q: Describe about the bank loans.

A: Liabilities: The claims creditors have over assets or resources of a company are referred to as…

Q: Which of the following is NOT a type of depository institution? O Commercial Banks O Savings and…

A: Those financial institutions that have the authority to obtain the funds in the form of deposits…

Q: What kinds  of fees and penalties can be levied on savings accounts?

A: Bank: It is a financial institution that accept deposits from and provide loan to public. This…

Q: A checking account is: OPTIONS: an asset to a commercial bank. a liability to a commercial bank. an…

A: A checking is a bank saving account which is opened with a commercial bank by a customer. He can…

Q: Why is there a need for  banking regulations to regulate savings  and  the lending of money by…

A: Banks are one of the most important financial institutions. Banks play an integral role when it…

Q: What is the process of Borrowing with Credit Cards?

A: The credit card is a vital instrument to upsurge the buying power. The credit card facility aids to…

Q: For the merchant, bank credit card sales are treated in a manner similar to? Cash Sales?

A: Cash Sales means sales made in return for consideration in the form of cash and cash equivalents…

Q: "Describe what a line of credit involves, and explain the legal obligation of a bank to provide…

A: Line of credit is the understanding between the banks and its customers that defines the maximum…

Q: Describe methods of calculating Interests on Your Credit Cards?

A: A card that is generally issued by the banks that helps the person to borrow the money up to the…

Q: Prepayment of loans may be initiated by a. borrowers and lenders b. bank auditors c. the central…

A: Prepayment of a loan means the pay off the loan before the due date. Prepayment will save interest…