Mike and Molly really like their financial institution. They are part-owners of the institution and appreciate the great customer service every time they speak with a representative about their financial needs, especially in their share account. They also enjoy the membership that they have at their financial institution. What financial institution have they chosen

Answers

Answer 1
Answer:

Answer: Credit Union

Explanation:

Mike and Molly are making use of a credit union type of financial institution.

A credit union type of financial institution makes use of money of joint members deposited to give loans to members within the same group. The money they credit to members within the group is the money that would have been profit to other group members. So, instead of taking their profit home individually, they are given out on loan to members within the group. The purpose of this credit loan type of financial institution is to encourage members to save and to easily access loans.


Related Questions

What represents the value of the second-best alternative that a person gives up when making a choice?A.marginal spending B.marginal benefit C.opportunity cost D.marginal cost
1. which of the following represents the correct order of the four steps included in the framework for ethical decision making? identify issues, gather information and identify stakeholders, brainstorm and evaluate alternatives, choose a course of action identify issues, brainstorm and evaluate alternatives, choose a course of action and gather information and identify stakeholders brainstorm and evaluate alternatives, identify issues, gather information and identify stakeholders and choose a course of action choose a course of action, identify issues, gather information and identify stakeholders, and brainstorm and evaluate alternatives 2. step 2 of the ethical decision making framework involves . choosing a course of action that generates the best solution gathering facts that are important to the ethical issue coming together to brainstorm any alternatives weighing the various alternatives 3. in the ethical decision-making framework, brainstorming for alternatives takes place . after a course of action has been chosen before any other step in the process after stakeholders have been identified and information has been gathered only if issues cannot be identified 4. the last step of the ethical decision-making framework involves . weighing the various alternatives coming together to brainstorm for alternatives identifying any problems that exist choosing a course of action that generates the best solution
for the greeting in a business letter when you don't know the name of the person who will be reading it, which of the following is least likely to conform to present day usage
All of the following phrases describe a partnership excepta. the involvement of up to 20 partners. b. high protection for your personal assets. c. low start-up costs. d. shared responsibility for decisions.
When Brian had 2 years left in college, he took out a student loan for $14.505. The loan has an annual interest rate of 7.8%. Brian graduated 2 years after acquiring the loan and began repaying the loan immediately upon graduation According to the terms of the loan, Brian will make monthly payments for 10 years after graduation. During the 2 years he was in school and not making payments, the loan accrued simple interest. Answer each part. Do not round intermediate computations, and round your answers to the nearest cent. If necessary, refer to the list of financat formulas: 5 ? (a) If Brian's loan is subsidized, find his monthly payment. Subsidized loan monthly payment: s[ (b) If Brian's loan is unsubsidized, find his monthly payment. Unsubsidized loan monthly payment:

Classification of products by degree of __________ divides them into three categories. They are nondurable goods, durable goods, and services. consumption tangibility liquidity porosity value or price

Answers

Classification of products by degree of CONSUMPTION divides them into three categories. They are non-durable goods, durable goods, and services.

Non-durable goods are also known as soft goods or consumables. These are goods that can be consumed and will not last for a long period of time before being replaced by goods of the same kind. It lasts for a maximum of three (3) years. Examples of non-durable goods are food and clothing. 

Durable goods are goods that last for at least three years. These are goods that takes a long time before being replaced. Examples of these durable goods are appliances, vehicles, furniture, jewelry, sporting goods and consumer electronics.

Services are intangible economic goods. Examples of these services are accounting, banking, cleaning, consultancy, education, expertise, insurance, medical treatment, transportation, and any other services that man can offer.  

On April 1, Smart, Inc. paid $7,200 for an insurance premium on a three-year insurance policy. How does this transaction affect Smart's accounts

Answers

Answer:

A decrease of $7,200 in the cash account and an increase of the same amount in the prepaid insurance account occurred.

Explanation:

In this case, there are only two accounts available;

1. Prepaid insurance account

2. Cash account

When Smart decided to pay $7,200 for an insurance premium on a three-year policy, he used $7,200 in cash to purchase a prepaid insurance premium at the same cost. This can be illustrated in the table below;

Account type                                     Credit                                Debit

Cash account                                                                             $7,200

Prepaid insurance account              $7,200        

Total                                                   $7,200                             $7,200

From the above illustration, we can conclude that when Smart made a decision to purchase the insurance premium, he debited $7,200 from his cash account and credited $7,200 in his prepaid insurance account.

We can conclude that a decrease of $7,200 in the cash account and an increase of the same amount in the prepaid insurance account occurred.

Your company, a small software development firm, has attracted many of the top young programmers in your area. As a result, the apps you produce have been praised for their innovative features and intuitive user experience. According to the bathtub metaphor in the dynamic capabilities perspective, what is the best way for you to protect against resource leakage? Invest in an online marketing campaign for existing products to retain customers. Open a satellite office overseas to support the company culture of taking chances. Attempt to undercut the competition by imitating their top-selling product. Improve the benefits package to retain key employees and reduce turnover.

Answers

Answer:

Improve the benefits package to retain key employees and reduce turnover.

Explanation:

the dynamic capability perspective model reflects an organization's capability to leverage and make adequate use if it's resources in surviving and growing in a constantly changing environment. The bathtub metaphor describes the flow and movement of organization's resources such as it may be used to accomplish dynamic capability

Example(bathub metaphor)

Water flowing from different places into the tank represents capital investments

How fast the tank fills with water represents how fast the firm would be able to build capital base

The amount of water that has entered the tank represents the firm's current capital

How much water leaks from the tank represents a reduction in the firm's capital base

The company that Layton owns, the Music Box, is a family-owned company that has been in business for more than 100 years. Layton wants to give back to the people of the community to acknowledge their role in the store's success. He decides to donate a significant portion of the store's profits to a charity every year. Layton's decision is an example of __________ in action.

Answers

Answer:

The correct answer is: not economic responsibility

Explanation:

Corporate social responsibility (CSR), also called corporate social responsibility (CSR) or socially responsible investment, is defined as the active and voluntary contribution to social, economic and environmental improvement by companies, generally with the aim of improving their situation Competitive, valued and its added value. The organization's overall performance evaluation system in these areas is known as the triple result.

Corporate social responsibility goes beyond compliance with laws and regulations, assuming their respect and strict compliance. In this sense, labor legislation and regulations related to the environment are the starting point for environmental responsibility. Compliance with these basic regulations does not correspond to social responsibility, but to the obligations that any company must fulfill simply by the fact of carrying out its activity. It would be hardly understandable for a company to claim CSR activities, if it has not complied or does not comply with the reference legislation for its activity.

The least expensive type of life insurance is _____. whole-life insurance term insurance endowment life insurance limited-payment life insurance

Answers

I believe the answer is: Term insurance

Term insurance is significantly cheaper compared to other type of insurance because it only cover risk plan without considering potential return in the future.
The amount of term insurance usually paid at a fixed rate on a limited period of time.

Final answer:

Term insurance is the least expensive type of life insurance because it only covers a specific period of time, unlike whole-life, endowment, or limited-payment life insurance which cover the insured's whole life.

Explanation:

The least expensive type of life insurance is generally term insurance. This kind of insurance is less expensive than whole-life, endowment, or limited-payment life insurance because it covers a specific term, or period of time, rather than the insured's entire lifetime. Term insurance pays out only if the insured dies during the term of the policy. For example, if a person buys a term insurance policy for 20 years and dies within that time, the policy will pay out. If they live beyond the 20 years, the policy ends and no payout is made.

Learn more about Term insurance here:

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Which of the following is not a benefit to using credit instead of cash?a. Using credit can help you build a good credit rating.
b. Using credit allows you to make impulsive buys.
c. Using credit makes it easier to track your spending than cash.
d. Using credit offers a convenient source of funds in an emergency.

Answers

Using credit allows you to make impulsive buys - this is not a benefit to using credit instead of cash. It is never good to make impulsive buys, you just waste money on something that you usually don't even need. 

One thing that is not a benefit of using credit instead of cash is that b. Using credit allows you to make impulsive buys.

What happens when you use credit?

Using credit means that you will always have access to resources to use and buy goods and services.

This means that one can be able to make impulsive buys because they will be able to buy things they see without having to worry about not having money.

Find out more on credit at brainly.com/question/1250740.