Bank Accounts are financial accounts offered by financial institutes to the respective bank customers. Bank accounts may vary according to their functions; hence they are opted as per the customers needs. Some...

ATM is a payment card which is used by the respective customers for carrying their financial purposes. The card is also known as a bank card, client card, key card, or cash card; hence it is applicable in...

The ‘Letter of Credit’ and the ‘StandBy Letter of Credit’ are two legal bank documents that are used by international traders. Both these letters are used to ensure the financial safety between the supplier...

The key difference between the two is that, the term ‘price’ is defined as the amount that the customers pay for a product, whereas the term ‘cost’ is defined as the amount spent by a business in making a...

Authority and Responsibility are two sides of the same coin. The term ‘authority’ stands for power or rights assigned to an individual to make decisions, whereas ‘responsibility’ is a duty to maintain and...