Business

BUS 101 – Assignment 6 Suppose that you are an entrepreneur who recently formed a small business. Your business exchanges

goods and services directly with individual customers for money. Money collected from the customers

is deposited into a checking account at a commercial bank. Your business uses the money deposited in

the checking account to pay business expenses. When your business needed to purchase a delivery

truck you were able to secure a loan using the vehicle itself as collateral. You understand the role of

money, banking, and credit as it relates to your business and personal finances.

Assignment Prepare a one to two-page report summarizing the following points:

a. Identify the three functions that money serves in our society?

b. Briefly describe the function or purpose of a commercial bank?

c. Discuss the importance of credit?

Additional requirements Submit your word-processed report electronically using BLACKBOARD. Follow the instructions provided

in the Assignment folder within the Course Content section of Blackboard.

Your submitted work must conform to or contain all of the following.

 A single computer file that opens on any campus computer (recommend Microsoft WORD)

 Filename that starts with your last name, for example, "Smith_Essay1.doc"

 Structured as a written report having multiple paragraphs with complete sentences (including

an introductory paragraph which includes a thesis statement offering a concise summary of the

main point or claim of the essay), appropriate language, grammar, and mechanics

 Use MLA Style formatting guidelines (general information on MLA is provided in the Assignment

section of Blackboard, additional information may be obtained by visiting The Writing Center

located on the Owens Toledo Campus in Founders Hall – FH 1123), specifically your report

should include:

o right-aligned in the header of every page is page numbers that include your name

o left-aligned at the top of first page is your name, instructor name, course name, and

date

o title of your paper centered above first paragraph

o proper citation, including a works cited page, of any works discussed within your essay

o text is double-spaced and font size is 11 or 12-point