The Standard Form to Confirm Account Balances with Financial Institutions

question 3

Multiple Choice

The Standard Form to Confirm Account Balances with Financial Institutions includes information on all of the following except:

• A)Date due of a direct liability.
• B)The principal amount paid on a direct liability.
• C)Description of collateral for a direct liability.
• D)The interest rate of a direct liability.

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Definitions:

Return on Investment

A measurement of the gain or loss generated on an investment relative to the amount of money invested.

Residual Income

A measure of profit that exceeds the minimum required return on an investment or business venture.

Percentage

A proportion or share in relation to a whole, typically expressed as a fraction of 100.

Profit Margin

A financial metric used to assess a company's profitability by comparing net income to revenue.