Why might a business want to use a bank? What are the costs to the business owner? What are the benefits? Give an example of why a business owner would use a bank.

Question

Rufus

Social Studies

8 July, 21:20

Why might a business want to use a bank? What are the costs to the business owner? What are the benefits? Give an example of why a business owner would use a bank.

+3

Answers (1)

Know the Answer?

Rice · Answer 1

A business might want to use a bank in order to have a safer and surer way to keep and monitor money. The costs of using a bank to a certain business owner is that you have to pay the bank in keeping your money. The benefits would be that the money is sure and withdrawing and depositing is convenient. For example, if money isn't kept in a bank and when there is a disaster such as fire, the money will be burnt with the establishment.