“accounts for the difference” means that when remaining numbers are taken into account, they cover the difference.
What accounts for the wide range of savings rates in different countries?
What do you think accounts for the wide range of savings rates in different countries? Savings rates vary from country to country because of different time preferences among individuals. Some people prefer to save today for future consumption and some people prefer to save in future and consume today.
What is the account definition?
Definition: An account is a record in an accounting system that tracks the financial activities of a specific asset, liability, equity, revenue, or expense. Each individual account is stored in the general ledger and used to prepare the financial statements at the end of an accounting period.
What is the use of an account?
In accounting, an account is used for recording a dollar balance and a history of changes to that balance. The dollar balance may be associated with an actual bank account, or it may represent the money owed you by a client. It might also represent income, expenses, or the value of assets that you own.
Do your accounts meaning?
14 If you do something on your own account, you do it because you want to and without being asked, and you take responsibility for your own action. I told him if he withdrew it was on his own account.
In which country you can save most money?
Top 10 Countries With Highest Rates of Personal Savings
- Luxembourg.
- Switzerland.
- Sweden.
- Germany.
- Netherlands.
- South Korea.
- Hungary.
- Ireland.
Which country has the highest savings rate?
The Top Ten Savers
- Qatar (58.1%)
- Ireland (57.6%)
- Brunei (54.5%)
- Singapore (53.8%)
- Luxembourg (53.4%)
- Gabon (52.2%)
- UAE (47.8%)
- China (44.9%) The Chinese savings rate of 44.9% remains high by global standards, and it was a significant factor in China’s economic growth.
Which bank gives highest interest in the world?
Fixed Deposit Interest Rates by Different Banks
| Bank | Tenure | Interest rate |
|---|---|---|
| Punjab National Bank | 7 days to 10 years | 5.70% to 6.85% |
| HDFC Bank | 7 days to 10 years | 3.5% to 7.40% |
| Axis Bank | 7 days to 10 years | 3.5% to 7.25% |
| Union Bank of India | 7 days to 10 years | 5.0 % to 6.85% |
What is an account answer?
An account is a summarised record of the relevant transactions relating to a particular head. It records not only the amount of transactions, but also their effects and directions. For example, a cash account will show all of cash received and paid.
