_7. To avoid fraud, it is recommended to check the Philippine Stock Exchange (PSE) to see if a private lender is registered and has legitimate operations in the country. 8. Short-term financing is needed for the purchase of inventory for a clothing shop. 9. A franchise of a fast-food outlet requires short-term financing.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
Note: answer 7-10
Direction: Read the statements carefully. Write TRUE if the statement is correct. Otherwise,
write FALSE.
1. Abank ie e financial inctitution liconsed to rocoive deposite and make leans
and may also provide financial services suck
Ka-IGIayemcnt, Currency exchange.
andoafe deposit bexes.
tinancing is the
finanoingi
INKIESI amona all t
sourcee of financing.
AS he Phiippines offera fixed or -.
5 For government luans, when the borrower eccives money from the approved
tean, paymENIS Shall be deducted every month from theii salary and will be forwarded to
the govermet agericy.
Loan requirements for a persoal loan are just tne same in a luan appitation
for a coipuratiun.
_7. To avoid fraud, it is recommended to check the Philippine Stock Exchange
(PSE) to see if a private lender is registered and has legitimate operations in the country.
8. Short-term financing is needed for the purchase of inventory for a clothing shop.
9. A franchise of a fast-food outlet requires short-term financing.
10. Financial institutions serve most people in some way, as financial operations
are a critical part of any economy, with individuals and companies relying on financial
institutions for transactions and investing.
Transcribed Image Text:Direction: Read the statements carefully. Write TRUE if the statement is correct. Otherwise, write FALSE. 1. Abank ie e financial inctitution liconsed to rocoive deposite and make leans and may also provide financial services suck Ka-IGIayemcnt, Currency exchange. andoafe deposit bexes. tinancing is the finanoingi INKIESI amona all t sourcee of financing. AS he Phiippines offera fixed or -. 5 For government luans, when the borrower eccives money from the approved tean, paymENIS Shall be deducted every month from theii salary and will be forwarded to the govermet agericy. Loan requirements for a persoal loan are just tne same in a luan appitation for a coipuratiun. _7. To avoid fraud, it is recommended to check the Philippine Stock Exchange (PSE) to see if a private lender is registered and has legitimate operations in the country. 8. Short-term financing is needed for the purchase of inventory for a clothing shop. 9. A franchise of a fast-food outlet requires short-term financing. 10. Financial institutions serve most people in some way, as financial operations are a critical part of any economy, with individuals and companies relying on financial institutions for transactions and investing.
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education