Other Economics Answers

d. Mr. Braccio an Italian citizen is a computer technician. He has an IT company in the Democratic Republic of the  Congo . This company has contracts with the Congolese government. He lives in DRC. He pays taxes in this  country. He is not a tax resident in Italy, but a tax resident in DRC. He has a non-resident account in an Italian bank. In his banking records "

Weekly purchases in Italy, paid with his personal debit card. 

International transfers. His Italian bank account receives almost 30.000 euros every month from his bank in DRC

Is a bank obliged to keep a ten-year record of a client’s transactions? Besides this, are you obliged to perform a parallel investigation (for banking purposes), to  verify if this client has suspicious activity in his banking records? Which due diligence measures would you perform?  Do you think the activities of the client are risky? Should Mr. Braccio be considered a  high-risk client?

(References if could be provided would be great)

a. Which countries are considered to be high risk jurisdictions for the European Union? 

c. A French student living in Madrid, wants to open a bank account in your 

bank. What kind of due diligence would you apply to him? What documentation would you require to him? d. A refugee wants to open a bank account in your bank: What documentation would you require to him? Is a refugee a high-risk client? 

In the following cases you will pretend to be a bank officer and you have to solve the following day-to-day situations in a bank related to their clients or new clients. To answer the following questions, you should only use the European  Union AML Directives. Please mention in which articles of the Directive you are basing your answers. 

b. A German freelancer wants to open a bank account in Spain. He says he is an IT technician, freelance, that provides  informatic services in remote to Iranian companies. These companies are his main clients. Would you accept him as a  client? What questions and documentation would you 

ask to him? 

c. A Nigerian woman living in France (she has a legal residence in France) wants to open a bank account in your bank  in Spain. She says she needs the account to receive a scholarship that she won from an NGO in Spain. What Know  Your Customer measures would you apply in this case? Mention each one. 

1.Mannenberg Ltd acquired land, with an office building on 1 January 2020 for R3 000 000 cash (Land: R1 000 000, Building: R2 000 000). Mannenberg also paid agent’s commission of R45 000 and legal fees of R15 000

2.For the period from 1 January 2020, Mannenberg Ltd made improvements to the building amounting to R100 000. The subsequent expenditure meets the subsequent recognition criteria, as contained in IAS 40.

3.The land and buildings were available for use and rented out to the tenant on 31 March 2020. The tenant took occupation of the building on 1 April 2020.

4.At year-end, Mr Content, an independent sworn appraiser revalued the land at R1 620 000 and the building at R3 000 000. Mannenberg Ltd values investment property using fair value model, in terms of IAS 40.

1. Landreth and Colander divided the description of institutionalists into three

(a) Discuss these divisions

(b) What are the major Contributions of the public choice theorists to economic analysis 

2.(a) Distinguish clearly the differences between partial and general equilibrium with vivid example. 

2.(b) Discuss the various measures prescribed by John Maynard Keynes to correct the economy during recession and depression. 

Find Equilibrium Level Income and Rate of Interest from the following information: C-40+0.8 Yd, 110-5r, T-50, G-50, Md-0.2y-5r, Ms-100. Also calculate the impact of increase in govt. expenditure from Rs. 50 to Rs. 80 on income and interest rate.

Lesson plan on Economy: needs and wants

You are a consultant of ABC company . Discuss how

You advice the board of directors on the management of

winding up of their bankrupt company