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Can you explain the difference between debit and credit in terms of financial transactions?
Debit and credit are two sides of the same coin in financial transactions. Debit means money is being taken out of an account, while credit means money is being added to an account. Debit decreases the balance, while credit increases it. Think of debit as a subtraction and credit as an addition in your financial records.
What else can I help you with?
Explain special relationship between banker and customer?
Bankers and customers work together to do financial transactions. A good banker will help a customer secure mortgages, balance accounts, and maintain a good relationship with the bank.
Can you explain the difference between statement balance and current balance?
The statement balance is the amount you owed at the end of the last billing cycle, while the current balance includes any recent transactions or payments.
Can you explain what a credit card network is and how it functions within the financial industry?
A credit card network is a system that facilitates transactions between merchants, cardholders, and banks. It acts as a middleman, processing payments and ensuring that funds are transferred securely. These networks, like Visa and Mastercard, set the rules and fees for transactions and help connect different financial institutions to enable card payments worldwide.
Can you provide examples of IOUs and explain how they are typically used in financial transactions?
An IOU is a written acknowledgment of a debt owed by one party to another. It is commonly used in informal financial transactions between individuals or businesses. Examples of IOUs include notes promising to repay borrowed money, goods, or services at a later date. IOUs serve as a temporary record of the debt until a formal agreement or payment is made.
Briefly explain about transaction?
A transaction is an exchange or transfer of goods, services, or financial assets between parties, typically involving a buyer and a seller. In financial contexts, it often refers to the movement of money, such as a purchase, payment, or transfer of funds. Transactions can be recorded and tracked for accounting, auditing, and regulatory purposes, ensuring transparency and accuracy in financial activities. They can occur in various forms, including cash, credit, or digital payments.
The difference between book values and market values on the balance sheet and explain which is more important to the financial managers and why?
Discuss the difference between book values and market values on the balance sheet and explain which is more important to the financial manager and why?
How do you explain the difference between the vassals and serfs?
Explain the difference between the vassals and the serfs
Explain the difference between young and mature mountains?
Explain the difference between young and mature mountains?
What is the difference between describe and explain?
Describe is what it is and explain is why it is as it is
What is difference between explain and describe?
Describe is what it is and explain is why it is as it is
Explain the difference between a cash and credit transaction for purchass and sales?
explain the difference between cash and credit transaction
Explain the difference between share of customer and customer equity.?
Explain the difference between share of customer and customer equity
Explain special relationship between banker and customer?
Bankers and customers work together to do financial transactions. A good banker will help a customer secure mortgages, balance accounts, and maintain a good relationship with the bank.
What is the difference between a system and a subsystem?
explain the difference between systems and sub systems
Can someone please explain the difference between OCN and SPID Telecom VoIP?
The difference between OCN and SPID Telecom VoIP is that the OCN is assigned by The National Exchange Carrier Association and is used as an identifier for inter-carrier transactions while the SPID is the Service Provider Identification Number.
Explain the difference betwwen the two types of feeding?
explain the difference between the two types of feeding?
Explain the difference between batch processing and real-time processing?
explain the difference between batch processing and real-time processing
