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The role of debit and credit is about dual effect, which its requirement is debit side equal credit side for each transaction.
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What is the role of debit and credit?
increase items in business we use debit. decrease items in business we used credit
What is the role of an auditor in terms of the financial statement?
External Auditor has the role to materially evaluate the financial statements and provide his opinion that 'Does financial statements reflects true and fair activities of business' or not.
What are functions of debit and credit cards?
Credit cards are issued to customers of companies who offer lines of credit. The card can be used to make purchases or payments in stores and online. Debit cards on the other hand are issued by banks or prepaid debit card companies. They have the same role as a credit card allowing consumers to make payments or purchases in stores and online, but can also be used to withdrawal money from an ATM.
Why an auditor should not prepare the financial statement and then express an opinion Also the standards to which this relates?
The auditor is the person who assesses whether the financial statement has been prepared accordingly or not. Firstly it is not the role of the auditor to prepare the financial statement as the auditor has to form an independent opinion. Secondly, it would be part of internal control and corporate governance activities for the preparation of the financial statement and the audit to be conducted be two separate parties to eliminate error or fraud.
Which statement describes the role the US plays in the International Red Cross?
The U.S. is the largest financial contributor to the International Red Cross.
What is the role of the major non-depository financial institutions in the financial system?
Non-depository financial institutions play a major role in providing financial services and credit to both individuals and businesses. Non-depository institutions frequently compete with banks in offering financial services and credit but also offer services that would not be appropriate for banks. For example, insurance companies take on risks related to a wide variety of losses which would not be suitable for banks. Non-depository institutions can provide a safety cushion during difficult financial times by offering credit when banks may not be willing or able to lend.
What is the role of the major non-depository financial institution in the financial system?
Non-depository financial institutions play a major role in providing financial services and credit to both individuals and businesses. Non-depository institutions frequently compete with banks in offering financial services and credit but also offer services that would not be appropriate for banks. For example, insurance companies take on risks related to a wide variety of losses which would not be suitable for banks. Non-depository institutions can provide a safety cushion during difficult financial times by offering credit when banks may not be willing or able to lend.
What is the role of the major non depository financial institutions in the financial system?
Non-depository financial institutions play a major role in providing financial services and credit to both individuals and businesses. Non-depository institutions frequently compete with banks in offering financial services and credit but also offer services that would not be appropriate for banks. For example, insurance companies take on risks related to a wide variety of losses which would not be suitable for banks. Non-depository institutions can provide a safety cushion during difficult financial times by offering credit when banks may not be willing or able to lend.
What is the impact of finance on financial statements?
we can easily see that its a financial statement that means finance is the main reason for whom we are going to make statement. so the impact is surely very much. we cant do anything without the finance in a financial statement.it is like the mother of the statement.or we can say a fish without the water. i hope this short example will help enough.
What is the role of a financial services representative?
The role of a Financial Service Representative is to help sell investment products to the institution's clients. A Financial Representative role consists of financial planning advice and the sale of financial products. Depending on what Company you work for a Financial Representatives responsibilities may vary.
Role of banks in international trade?
International banks play a very important role in international trade. Banks make the transfer of money possible between international trading partners.
Nature and role of financial institution and financial market?
nature of financial institution
