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What is Bank ?
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Answer / pradeep gunuguntla
Bank is a financial institution. which is licensed to accept
deposits from the general public and which also provides loans.
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / murugesh
A Bank means lending money to the public & accepting
deposits form the public.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / prasad rane
I think BANK stands for: B: Borrowing A: Accepting N:
Negotiating K: Keeping
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / thimmappa poojari
Banks are authrised ( by Reserve banks/govt) Financial
institutions which accepts deposits from general public,
firms, companies etc & channels those money into lending
activities under specified guidelines so helps the smooth
functioning of all financial transactions of individual /
business/any concerned / economy as a whole.
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Answer / mayur chavare
Bank is Finacial Inestitutions which follws RBI Bak Rule
and pravides the loan
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IN ONE OF THE MAUNUFACTURING COMPANY, THE MANAGMENT WAS VERY MUCH INTERESTED TO INTRODUCE ERP(IT IS FOREIGN SOFTWARE)BASED ON SOME ATTRACTIVE FEATURES EXPLAINED BY THE ERP SOFT WARE COMPANY/AGENCY . THE ACCOUNTING STAFF ARE ALL CONVERCENT WITH TALLY ACCOUNTING PACKAGE(INDIAN ACCOUNTING METHOD). THEREFORE THEY WOULD LIKE TO KNOW THAT (I) WHAT ARE THE DIFFERENCE BETWEEN A TRIAL BALANCE FROM NORMAL TALLY ACCOUNTING AND ERP GENREATED TRIAL BALANCE (2) SINCE THE BOTH THE TRIAL BALANCE WILL BE HAVING DIFFEERENT DATAS HOW SOME ONE CAN MAKE A FINAL ACCOUNT SUCH AS TRADING A/C PROFIT & LOSS ACCOUNT AND BALANCE SHEET AS PER INDIAN COMPANIES ACT. THE TRIAL BALANCE AS PER ERP SHOW SOME COST OF PRODCUTION A/C, LABOUR/MATERIAL/VALUE VARIANCE A/C. SAY ALL THESE VARIANCE ARE CORRECT AND BASED ON THE ACTUAL TRANSACTION TAKEN PLACE, HOW SOMEONE CAN A FINAL ACCOUNT MEANT FOR INDIAN ACCOUNTING POLICY WHICH TO BE SUBMITTED TO VARIOUS GOVT BODIES? I AM TOTALLY CONFUSED
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