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What are the major categories of financial services?
Financial services are basically deal with merchant banks, credit card companies, consumer finance companies, stock brokerages or with the management of money. [ In the term of earning, financial services are the largest industry in the world that represents 20 percent of the market capitalization.Two types of approaches: Two different types of appraoches which companies usually prefer. In the
first approach, bank buys an insurance company or an investment bank, adds the acquisition to its holding company to diversify its earnings and also keeps the original brands of the aquired firm. This type is essential for the Citigroup as well as JP Morgan Chase. On the other hand, a bank attempts to sell the products to its existing customers, with incentives for combining all things with one company by creating its own brokerage division or insurance division. ]
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Asked 8/11/2011 6:14:23 PM
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How do the entries affect account balances and why both debit and credit entries can increase or decrease an account balance?
Weegy: More than two accounts may be affected by the same transaction. A transaction for ?100 can be recorded as a ?100 debit in one account and as multiple credits that total ?100 in other accounts. Example I owe creditors A and B ?100 each. [ Thus my liability account for Creditor A has a credit balance of ?100 and the same for Creditor B. I pay them off from my bank checking account, which from my point of view is an asset. I withdraw ?200 from my bank account and split it to pay off the two liabilities. In my records, "Bank" is one account, "Creditor A" is another account, and "Creditor B" is a third account. The following transactions affect all three ledger accounts: Dr: Creditor A (100) Dr: Creditor B (100) Cr: Bank (200) ] User: Discuss the differences between the general journal and the general ledger. User: Discuss the differences between the general journal and the general ledger. What is the purpose of having both in an accounting system? Weegy: try here (More)
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Asked 8/11/2011 5:28:00 PM
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What financial services are available through electronic banking systems?
Weegy: E-banking and financial services refers to systems that enable banks and financial institutions’ customers to access accounts and general information on bank and financial products and services through a personal computer (PC) or other intelligent [ device. Ebanking products and services can include wholesale products for corporate customers as well as retail and financial products for consumers. Ultimately, the products and services obtained through e- banking may mirror products and services offered through other bank delivery channels. Examples of e-banking and financial services may include: • Cash management • Wire transfer. • Automated clearinghouse (ACH) transactions. • Bill presentment and payment. • Balance inquiry. • Funds transfer. • Downloading transaction information. • Bill presentment and payment. • Loan applications. • Investment activity. • Other value-added services. ] (More)
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Asked 8/11/2011 6:18:42 PM
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Why shouldn't you select financial services only on the basis of monetary factors?
Weegy: Try this link hope this helps :) (More)
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Asked 8/11/2011 6:49:50 PM
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What factors do consumers usually consider when selecting a financial institution to meet their saving and checking needs?
Weegy: When selecting a financial institution, a person should consider the services available, convenience (location, hours, branch offices, banking by mail, automatic teller machines), safety, personal service, rates charged, [ and interest paid to savers.In addition to evaluating the cost of checking accounts, there are other factors that may affect your decision. Does the institution you are considering for your checking account offer other services you may need? Establishing a broad relationship with your bank can sometimes pay off when you need other services. Is the institution convenient and are there ATM's easily accessible? Does the institution return cancelled checks? You may want to hold on to these for your permanent records. Does the institution seem customer friendly? If you usually frequent your bank in person, this is an important consideration. . ] (More)
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Asked 8/11/2011 7:11:46 PM
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