"We have a contract with our partner bank that they pay us a monthly rebate that is calculated as a portion of the total interchange revenue they receive for each transaction that is run through our platform. As part of our contract/application with our customers we offer cash back rewards that is calculated as a percentage of the revenue that we receive from the bank for each of their transactions."Q: What guidance supports that decision?
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"We have a contract with our partner bank that they pay us a monthly rebate that is calculated as a portion of the total interchange revenue they receive for each transaction that is run through our platform. As part of our contract/application with our customers we offer cash back rewards that is calculated as a percentage of the revenue that we receive from the bank for each of their transactions."
Q: What guidance supports that decision?
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- "We have a contract with our partner bank that they pay us a monthly rebate that is calculated as a portion of the total interchange revenue they receive for each transaction that is run through our platform. As part of our contract/application with our customers we offer cash back rewards that is calculated as a percentage of the revenue that we receive from the bank for each of their transactions."Q: How do other credit card companies treat cash back rewards?Your friend Binna has a money market mutual fund account, automatic deposit of her paycheck into an interest-bearing checking account at the company credit union, and a CD from the local branch of a bank that advertises "coast-to-coast" banking. What is the benefit of "mixing and matching" financial institutions and their services? Question content area bottom Part 1 What is the benefit of "mixing and matching" financial institutions and their services? (Choose all that apply.) A. Increasing the flexibility of managing funds. B. Increasing risk due to increased investments. C. Minimizing service charges and other fees. D. Maximizing the returns and features from combined accounts.The bill of exchange written by W states that BPI Family Savings Bank will get the reimbursement of the payment from W’s savings account. What element is present in this situation? A. There is an unconditional order to pay. B. There is period to pay the bill. C. It is payable to order D. None of the above The bill of exchange written by X indicates that for the payee to receive the money from the drawee bank, the payee must first sell his house and car and give the proceeds to charity. What element is present in this situation? A. There is an unconditional order to pay. B. There is period to pay the bill. C. It is payable to order D. None of the above
- This module discusses discounts given out to customers based on payment terms, such as 2/10, n/30. : What would the credit terms 3/15, n/45 stand for? Explain why it is important for a company to keep track of how much money in discounts is given out? What account is used to track discounts? From a business owner's point of view, what are the advantages of allowing discounts? From a business owner's point of view, what are the disadvantages of allowing discounts?Larry's Landscaping Services has extended Net 30 terms to his new customer, Mahoney's Mugs. What sales workflow would you recommend Larry use for Mahoney's? -Create Invoice > Receive Payment > Check Register -Create Sales Receipt > Bank Deposit -Create Invoice > Receive Payment > Bank Deposit -Create Sales Receipt > Receive Payment > Bank DepositIncorporate the following data into Bank X's revenue statement. Each item should be labelled and placed in the proper category and order. Commission ,exchange and brokerage received.Income on InvestmentsInterest paid on depositsPayments to and provisions for employeesInterest paid on BBI/ interbank borrowingsInterest/discount received on advances/billsIncome from leasing/hire purchaseInterest paid-othersProfit on exchange transactionsRent, taxes, lightingInsuranceLaw chargesProfit on sale of land, buildings and other assetsMiscellaneous incomeAuditor’s fees and expensesPrinting and stationaryProfit on sale of investmentsDepreciation on bank’s propertyIncome by way of dividends and subsidiariesAdvertisement and PublicityInterest earned – othersDirector’s fees, allowances and expensesMiscellaneous incomeRepairs and maintenanceOther expensesPostage, telegram, telephone and other communication expensesInterest received on balances with RBI and interbank funds.
- S1: It is possible to create as many payment methods as required using Payment Means. In addition, it allows you to link specific payment methods to relevant business partners. S2: A deposit document must be processed in order to transfer the funds from the clearing account to the house bank account and clear the customer account. Both statements are incorrect Only S1 is incorrect Both statements are correct Only S1 is correctA credit manager who is concerned about a client's viability might take all of the following steps except for the following: O require monthly billing terms O require the client post a letter of credit O require COD terms O require CBD tems Question 4 The Treasurer of a corporation is negotiating with one of his / her suppliers to allow the corporation to have 30 days to pay supplier's invoices. The Treasurer is arranging: O cash discount terms O Short term financing O commercial paper O a factoring of receivablesYour friend Binna has a money market mutual fund account, automatic deposit of her paycheck into an interest-bearing checking account at the company credit union, and a CD from the local branch of a bank that advertises "coast-to-coast" banking. What is the benefit of "mixing and matching" financial institutions and their services?
- How will the following items affect the pass book balance? Direct payment by customer into the back account. Interest on investment collected by the bank.At the local TD Bank ATM, there is a notice posted. It reads as follows: "Non-customers will be charged a fee of $3 per transaction for withdrawals at this ATM". Where would the fee income from this ATM show up in TD Bank's income statement? A) It would be included in its net interest income B) It would be included in its income from proprietary trading of securities C) It would be included in its income from sale of assets D) It would be included in its non-interest incomeA friend owns a business that extends credit to its customers. The friend has asked you to helps with estimating uncollectible accounts and wants you to make a recommendation. Specifically, your friend is asking: Which of the two methods of estimating uncollectible provides for the most accurate estimate of the current net realizable value of the receivables?