When does an expense become a cash outflow?
A) when a company makes a withdrawal from its bank
B) when a company decides to make a purchase
C) when a company receives a bill
D) when a company pays a bill
D
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At its most basic level, the function of financial intermediaries is to ________
A) track and report interest rates B) move money from lenders to borrowers and back again C) report all financial transactions to the federal government D) effect a transfer of wealth in society
Which of the following best summarizes the argument in favor of microfinance?
A) Microfinance ultimately leads to greater tax revenues for national governments. B) Recently, mainstream banks have begun to view microfinance as the prime driver of advanced economies. C) Microfinance allows the underprivileged to create businesses and improve their lives. D) Microfinance alleviates the pressure on MNEs to support developing economies.