Correct Answer: C. 1 : 3

Correct Answer: A. secret

Correct Answer: D. prudency

Explanation

Prudence Concept or Conservatism principle is a key accounting principle which makes sure that assets and income are not overstated and provision is made for all known expenses and losses whether the amount is known for certain or just an estimation i.e expenses and liabilities are not understated in the books of account

Correct Answer: D. 4.5m

Correct Answer: B. stimulate growth of lower plants which are sources of food to fish

Explanation

Number of blue balls = 5

Number of black balls = 3

Number of red balls = 2

= 10 balls.

(a) P(two red balls) = \(\frac{2}{10} \times \frac{2}{10} = \frac{1}{25}\)

(b) P(2 blue or 2 black balls) = P(2 blue) or P(2 black)

= \((\frac{5}{10} \times \frac{5}{10}) + (\frac{3}{10} \times \frac{3}{10})\)

= \(\frac{25}{100} + \frac{9}{100}\)

= \(\frac{34}{100} = \frac{17}{50}\)

(c) P( one red and one black in any order) = P(one red, one black) or P(one black, one red)

= \((\frac{2}{10} \times \frac{3}{10}) + (\frac{3}{10} \times \frac{2}{10})\)

= \(\frac{12}{100} = \frac{3}{25}\)

Explanation

(a) →A mortgage bank is a bank or company which offers a loan with their own funds or from warehouse lenders while a merchant bank is a financial institution that provides the services of finance, underwriting, offering business loans, and advice or consultancy on finance.

→Commercial bank is a bank organized to perform public utility banking services, such as accepting deposits, lending money, etc while a development bank refers to a multi-purpose financial undertaking set up to provide financial aid to the industrial and agricultural sector, to encourage development.

(b) - Agency functions: Commercial banks are already agents of the banking system, but they can also be personal agents to their customers. An agent is an individual or institution that carries out activities, in this case, financial operations, on behalf of the principal 9 who is the customer) for a few known commissions.

- Credit creation: Commercial banks are perhaps the only financial institutions with this unique function. Commercial banks create credit by accepting deposits and providing loans, pushing money into the economy.

- Transfer of funds: The transfer of funds from a customer's account to another account is another vital function of banks. Fund transfer is a valid means of paying for transactions, as well as other financial activities. Transfer of funds can be carried out through several ways such as drafts, standing orders, cheques, USSD platforms, and electronic banking.

- Provision of loans: Besides accepting deposits, another function of commercial banks is the provision of loans. The provision of funds to those who require them for transactions is a vital role commercial banks play. Nowadays, customers can now have access to instant loans from commercial banks

Correct Answer: D) Armed forces ruling council

Explanation

The Armed forces ruling council was a body of senior military officers who ruled Nigeria during the military era. They made important decisions and policies on behalf of the country. This council was made up of the top military officials at the time and played a major role in the governance of Nigeria during the military regime.

Please note that this explanation may not be totally accurate.

Correct Answer: C. harvesting of fruits

Correct Answer: C. Investigate the problem