Question
1.Ted uses his Westpac debit card to pay for a $200 purchase at a shop who banks with ANZ. When is this transaction settled? How
1.Ted uses his Westpac debit card to pay for a $200 purchase at a shop who banks with ANZ. When is
this transaction settled? How is the payment settled?
2. Suppose that today NAB agree to sell a parcel of bonds to CBA for $20 million with settlement due
in three days' time. Explain how this transaction would be settled.
3. Why is it necessary for the financial system to 'pool funds'? Explain how funds are pooled in
relation to both indirect and direct financing
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Financial Management Principles and Application
Authors: Arthur J. Keown, J. William Petty, David F. Scott, Jr.
10th edition
536514119, 536514110, 978-0536514110
