Representative office of any bank
Explain what is meant by the Representative office of any bank.
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Representative office is small service facility organized by the parent bank personnel which is developed in order to assist the MNC clients of parent bank in its dealings with correspondents of the bank. It is a mode for parent bank for providing its MNC clients with the level of service larger than that provided simply through a correspondent relationship.
Liabilities mean the amount which the firm owes to the outsiders. Liabilities are of two types: -Long term liabilities & Short term liabilities. Examples of long term liabilities are long terms loans, bonds etc. & examples of short term liabil
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