<< Chapter < Page Chapter >> Page >

Economic and management sciences

Grade 5

My bank and i

Module 7

The bank as an agent

  1. The bank as an agent between yourself and your clients (the people whom you must pay for their services or products):

A bank makes it possible for two persons/businesses to do business in other ways than by transferring cash/money. There are various methods in which this can be done. The following are a few of these:

  • With the help of a bank slip such as the one shown below, you can deposit money into your client’s account. If you know your client’s bank number you can do such a transaction.

  • You can also pay for services or products with the help of a cheque linked to your cheque account. You may write out a cash cheque or you can make the cheque out in the name of the receiver. If Mr De Klerk bought new tyres to the value of R800,00 from Y-Tyres, the cheque that is written out to pay for the tyres would look like the following example:

Talk to your educator and parents about what it means to cross a cheque. Why is it important to cross a cheque ?

Now use these blank cheques to pay the following providers for services or products:

Star Supermarket for groceries to the value of R245,69;

Prima Park Primary School for school fees: R375,00.

[LO 3.3]

  1. We can also get bankcards or credit cards with which we can transfer money from one person or company to another.

The claimant/service provider has a special machine that is able to read the magnetic strip on the card and register the transaction. The balance on the account of the person who is paying is automatically reduced by the relevant amount and the claimant’s or service provider’s account is increased by the same amount.

Example : If you have R500, 00 in your account and you purchase goods to the value of R120, 00 with your credit card, the following calculation will be done to provide your new balance:

R500,00 - R120,00 = R380,00

Assessment

LO 3

Management, Consumer and Financial Knowledge and Skills

The learner is able to apply and demonstrate, in a responsible manner, knowledge as well as a range of management, consumer and financial skills.

We know this when the learner :

3.3 finds out and discusses how a savings account is opened at a bank, and completes deposit and withdrawal slips;

3.4 discusses the value of savings and thrift and people’s difficulty in saving if basic needs are not met.

Memorandum

  • Safety!
  • Fill checks in with the aid of previous examples in module.

Questions & Answers

what is variations in raman spectra for nanomaterials
Jyoti Reply
I only see partial conversation and what's the question here!
Crow Reply
what about nanotechnology for water purification
RAW Reply
please someone correct me if I'm wrong but I think one can use nanoparticles, specially silver nanoparticles for water treatment.
Damian
yes that's correct
Professor
I think
Professor
what is the stm
Brian Reply
is there industrial application of fullrenes. What is the method to prepare fullrene on large scale.?
Rafiq
industrial application...? mmm I think on the medical side as drug carrier, but you should go deeper on your research, I may be wrong
Damian
How we are making nano material?
LITNING Reply
what is a peer
LITNING Reply
What is meant by 'nano scale'?
LITNING Reply
What is STMs full form?
LITNING
scanning tunneling microscope
Sahil
how nano science is used for hydrophobicity
Santosh
Do u think that Graphene and Fullrene fiber can be used to make Air Plane body structure the lightest and strongest. Rafiq
Rafiq
what is differents between GO and RGO?
Mahi
what is simplest way to understand the applications of nano robots used to detect the cancer affected cell of human body.? How this robot is carried to required site of body cell.? what will be the carrier material and how can be detected that correct delivery of drug is done Rafiq
Rafiq
what is Nano technology ?
Bob Reply
write examples of Nano molecule?
Bob
The nanotechnology is as new science, to scale nanometric
brayan
nanotechnology is the study, desing, synthesis, manipulation and application of materials and functional systems through control of matter at nanoscale
Damian
Is there any normative that regulates the use of silver nanoparticles?
Damian Reply
what king of growth are you checking .?
Renato
What fields keep nano created devices from performing or assimulating ? Magnetic fields ? Are do they assimilate ?
Stoney Reply
why we need to study biomolecules, molecular biology in nanotechnology?
Adin Reply
?
Kyle
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
Adin
why?
Adin
what school?
Kyle
biomolecules are e building blocks of every organics and inorganic materials.
Joe
anyone know any internet site where one can find nanotechnology papers?
Damian Reply
research.net
kanaga
sciencedirect big data base
Ernesto
Introduction about quantum dots in nanotechnology
Praveena Reply
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
Bharti
do you think it's worthwhile in the long term to study the effects and possibilities of nanotechnology on viral treatment?
Damian Reply
absolutely yes
Daniel
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
Privacy Information Security Software Version 1.1a
Good
Got questions? Join the online conversation and get instant answers!
Jobilize.com Reply

Get the best Algebra and trigonometry course in your pocket!





Source:  OpenStax, Economic and management sciences grade 5. OpenStax CNX. Sep 05, 2009 Download for free at http://cnx.org/content/col10974/1.1
Google Play and the Google Play logo are trademarks of Google Inc.

Notification Switch

Would you like to follow the 'Economic and management sciences grade 5' conversation and receive update notifications?

Ask