Bank
Bank is the secure financial institution where businesses deposit their earnings and from which they pays their bills. Banks may provide business advice. A part of banks' business is loans to organizations.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Bank. The secure financial institution where businesses deposit their earnings and from which they pays their bills. Banks provide business advice and can advances loans to businesses for growth.
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
