Functions of Bank
Write some of the functions of Bank?
Expert
Functions of Bank:
A) Bank gives overdraft and short term loan facility.
B) It too give Safe deposit boxes to secure valuable possessions, like precious metals, gemstones, currency, marketable securities, or significant documents like wills property deeds and birth certificates which require protection from theft, fire, tampering, flood, or other reasons.
C) This too issues the bank draft and bank cheque on the demand of customers.
D) It too provides the services of currency exchange. You can go to any bank and transform your foreign currency into your country’s currency. For such services bank takes certain commission.
E) Bank too sells the financial products.
he following information is taken from the financial statements of an entity: 20x4 20x3 Property, plant and equipment $4,600,000 $4,200,000 Accumulated depreciation (1,800,000) (1,350,000) Depreciation expense 560,000 Gain on disposal of PPE 65,000 The asset disposed of had a cost
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