<< 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 mutation
Janga Reply
what is a cell
Sifune Reply
how is urine form
Sifune
what is antagonism?
mahase Reply
classification of plants, gymnosperm features.
Linsy Reply
what is the features of gymnosperm
Linsy
how many types of solid did we have
Samuel Reply
what is an ionic bond
Samuel
What is Atoms
Daprince Reply
what is fallopian tube
Merolyn
what is bladder
Merolyn
what's bulbourethral gland
Eduek Reply
urine is formed in the nephron of the renal medulla in the kidney. It starts from filtration, then selective reabsorption and finally secretion
onuoha Reply
State the evolution relation and relevance between endoplasmic reticulum and cytoskeleton as it relates to cell.
Jeremiah
what is heart
Konadu Reply
how is urine formed in human
Konadu
how is urine formed in human
Rahma
what is the diference between a cavity and a canal
Pelagie Reply
what is the causative agent of malaria
Diamond
malaria is caused by an insect called mosquito.
Naomi
Malaria is cause by female anopheles mosquito
Isaac
Malaria is caused by plasmodium Female anopheles mosquitoe is d carrier
Olalekan
a canal is more needed in a root but a cavity is a bad effect
Commander
what are pathogens
Don Reply
In biology, a pathogen (Greek: πάθος pathos "suffering", "passion" and -γενής -genēs "producer of") in the oldest and broadest sense, is anything that can produce disease. A pathogen may also be referred to as an infectious agent, or simply a germ. The term pathogen came into use in the 1880s.[1][2
Zainab
A virus
Commander
Definition of respiration
Muhsin Reply
respiration is the process in which we breath in oxygen and breath out carbon dioxide
Achor
how are lungs work
Commander
where does digestion begins
Achiri Reply
in the mouth
EZEKIEL
what are the functions of follicle stimulating harmones?
Rashima Reply
stimulates the follicle to release the mature ovum into the oviduct
Davonte
what are the functions of Endocrine and pituitary gland
Chinaza
endocrine secrete hormone and regulate body process
Achor
while pituitary gland is an example of endocrine system and it's found in the Brain
Achor
what's biology?
Egbodo Reply
Biology is the study of living organisms, divided into many specialized field that cover their morphology, physiology,anatomy, behaviour,origin and distribution.
Lisah
biology is the study of life.
Alfreda
Biology is the study of how living organisms live and survive in a specific environment
Sifune
Got questions? Join the online conversation and get instant answers!
Jobilize.com Reply

Get Jobilize Job Search Mobile App in your pocket Now!

Get it on Google Play Download on the App Store Now




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