BUS 200 Study Guide - Final Guide: Electronic Funds Transfer, Financial Intermediary, Unsecured Debt

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 200
• Professor: Sam Thiara

Document Summary

Any object generally accepted by people as payment for goods and services: portability, divisibility, durability, stability. Credit cards: not included in m-1/m-2, money substitute, serve as temporary medium of exchange, but are not store of value (related to credit card fraud) Debit cards: included in m-1, t(cid:396)a(cid:374)sfe(cid:396) (cid:373)o(cid:374)e(cid:455) i(cid:373)(cid:373)ediatel(cid:455) f(cid:396)o(cid:373) (cid:272)o(cid:374)su(cid:373)e(cid:396) (cid:271)a(cid:374)k(cid:859)s account, affect the money supply the same way as cheque/ cash. A privately owned, profit-seeking, financial intermediary firm. The bank act limits foreign-(cid:272)o(cid:374)t(cid:396)olled (cid:271)a(cid:374)ks to deposits that do(cid:374)(cid:859)t e(cid:454)(cid:272)eed (cid:1012)% of the total domestic assets of all banks in canada. Helps customers establish saving plans for retirement. Serve as financial intermediaries by receiving funds and investing them as directed by customers. Provide information on investment possibilities: trust services. In return for a fee, the bank will make your monthly bill payments and manage your investment portfolio. They will also manage the estates of decreased persons.