Ask Question
BusinessBusiness
29 October, 15:37

The main source of profit for financial institutions is

+5
Answers (1)
  1. 29 October, 16:51
    0
    Answer: The main source of profit for financial institutions is the interest that they collect on the money that they have loaned out.

    Explanation: The primary source of profit for financial institutions is the interest that it collects on the money that it has loaned out. Other sources of income include service charges on accounts and the sale of repossessed items, but they do not earn as much income on these items as they do on interest.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The main source of profit for financial institutions is ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
abc enterprises sells a single product at price of 69 per unit. variable costs per unit are 42 and total fixed costs are 1455000.
Answers (1)
You are offered an investment with a quoted annual interest rate of 10% with monthly compounding of interest. What is your effective annual interest rate?
Answers (1)
Hansel and Gretel, a married couple, manage apartments and they are required to live in the managers' apartment as a condition of their employment.
Answers (1)
Phil enters into a contract to hire Bob's Building Business to build a warehouse for Phil. The contract specifies that the warehouse should be built with HighQual Bricks.
Answers (1)
Prior to liquidating their partnership, Joyce and Xi had capital accounts of $50,000 and $105,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets.
Answers (1)
New Questions in Business
Rexeleg Company manufactures a product with the following costs per unit at the expected production of 40,000 units: Direct materials $5 Direct labor 10 Variable overhead 7 Fixed overhead 9 The company has the capacity to produce 50,000 units.
Answers (1)
Here are selected data for sally day corporation: beginning raw materials inventory $37,000 beginning work in process inventory 61,500 beginning finished goods inventory 56,300 cost of materials purchased 151,000 cost of direct materials
Answers (1)
How to find out how much your social security will be?
Answers (1)
John is a young entrepreneur. He wants to insure his business. Why does he prefer an online insurance application facility?
Answers (1)
Oriole Inc. reported total assets of $2407000 and net income of $324000 for the current year. Oriole determined that inventory was overstated by $25500 at the beginning of the year (this was not corrected).
Answers (1)
Home » Business » The main source of profit for financial institutions is
Sign Up Forgot Password?