The Items on the Statement of Profit or Loss and Other

question 75

Multiple Choice

The items on the statement of profit or loss and other comprehensive income are expressed in rands but the corresponding margins are expressed as:

• A)incomes.
• B)expenses.
• C)profits.
• D)percentages.

Comprehend the rights of bank customers under the Check 21 Act.

Identify the roles and responsibilities in electronic fund transfers.

Know the effects of bank obligations and customer rights regarding check deposits and withdrawals.

Recognize the implications of bank insurance coverage and the Electronic Fund Transfer Act.

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Definitions:

Call Option

A financial contract giving the buyer the right, but not the obligation, to buy a specified amount of an underlying asset at a predetermined price within a specified time frame.

At The Money

A situation in options trading where the strike price of an option is equal to the market price of the underlying asset.

Out Of The Money

Describes an options contract that would not yield a profit if exercised at the current market level.

In The Money

Describes an option with an intrinsic value where a call option's strike price is below the market price of the underlying asset or a put option's strike price is above.