North Bank has lent Sophie Limited $600 000. Part of the loan contract prevents Sophie from borrowing money in the future from other banks without the permission of North. As a result of this relationship: Group of answer choices Sophie Limited is regarded as a subsidiary of North Bank. direct the relevant activities of Sophie Limited. North Bank is regarded as a parent entity of Sophie Limited. a parent-subsidiary relationship does not exist between these two parties.

Eastpac Bank has lent Alexandra Ltd $500 000. Part of the loan contract prevents Alexandra from borrowing money in the future from other banks without the permission of Eastpac. As a result of this relationship:

Sophie and Marcus have recently split up having lived together for 20 years. They nevermarried. They have a daughter, Amy, who is 17 years old.Marcus purchased the family home 20 years ago in his sole name. When, at the time ofthe purchase, Sophie suggested that the house should be conveyed into their joint names,Marcus said, “Why do you want a stupid piece of paper saying that? Don’t you trustme?” Marcus provided the deposit. The balance of the purchase price was funded by amortgage loan. Marcus has paid all the mortgage installments. Sophie used the saleproceeds of her studio flat to furnish the new house.Shortly before Amy was born, Sophie gave up her job and did not work until 2004 whenshe got part-time work. Her wages were a welcome addition to the family financesbecause Marcus’s business was going through a bad period. Marcus continued to meetthe mortgage payments but since 2004, Sophie has paid all other household bills.Advise Sophie on whether she can claim a half-share in the family home and, if not,whether any other remedies may be available to her.- END -

A commercial bank can receive a loan from another commercial bank in the Group of answer choicesFederal funds marketbank loan marketFed marketDiscount market

To open a new bakery, Angelica takes out a $15,000 loan from the bank by providing her house as collateral. The type of financing obtained is called aMultiple Choicetrade credit.mutual fund.mortgage.subsidy.

Neil, Nitin and Nitesh were partners in the firm sharing profits and losses equally. Neil retiresfrom the firm and on his retirement, he is entitled for the payment due to him after all theadjustments.At the time of retirement, if nothing is mentioned about the payment made due to him, inwhich account, the amount will be transferred:(a) Retiring Partner’s Current A/c(b) Retiring Partner’s Capital A/c(c) Retiring Partner’s Loan A/c(d) Retiring Partner’s Bank A/c