1. Explain why the Financial statements of banks and those of non-bank financial resemble each other?...
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1. Explain why the Financial statements of banks and those of non-bank financial resemble each other? (2 marks) They are similar many in aspects. The general structure formula of the balance sheet is the same Assets- Liabilities+ Equity. So the left side of the balance sheet is the uses of fund and the left side is the sources of funds. 2. Do they have any differences? If so explain as much as you can?(3 marks) Yes, the balance sheet formula for the banks and financial sector is much complicated and detailed than the on-bank 1. Explain why the Financial statements of banks and those of non-bank financial resemble each other? (2 marks) They are similar many in aspects. The general structure formula of the balance sheet is the same Assets- Liabilities+ Equity. So the left side of the balance sheet is the uses of fund and the left side is the sources of funds. 2. Do they have any differences? If so explain as much as you can?(3 marks) Yes, the balance sheet formula for the banks and financial sector is much complicated and detailed than the on-bank
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Related Book For
Modern Advanced Accounting In Canada
ISBN: 9781259066481
7th Edition
Authors: Hilton Murray, Herauf Darrell
Posted Date:
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