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An adjusting entry would be made to the revenue account only when cash is received.
Banks
Financial institutions licensed to receive deposits and make loans. They also offer various other financial services such as wealth management, currency exchange, and safe deposit boxes.
Thrifts
Financial institutions that primarily accept savings deposits and make mortgage loans, including savings and loan associations, savings banks, and credit unions.
Market Risk
The risk of losses in investments due to factors that affect the overall performance of the financial markets, such as economic changes or natural disasters.
Purchasing Power Risk
The risk that the value of money will decrease over time due to inflation, affecting the real value of investments and savings.
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