Government and nonprofit audits differ significantly from business audits in that the former is more focused on ensuring that the auditee has complied with applicable requirements of laws and respective regulations.
A financial audit is an examination of a company's financial records. The purpose of an audit by independent professional auditors is to verify the veracity and conformity to applicable accounting principles of a company's financial statements.
As an independent assessment of how well public servants are meeting their duties in terms of diligence, efficiency, and effectiveness, performance audits are a vital aspect of the accountability process. A financial audit is conducted to ensure that financial statements are fair and accurate representations of a company's financial position in accordance with GAAP so that business owners can act with confidence.
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The right question is:
In what significant way do financial audits in government and not-for-profit organizations differ from those carried on in businesses?
according to the leader-member exchange (lmx) theory, the type of what, leaders have with their followers (members of the organization), is key to understanding how leaders influence employees?
The dyadic leader-member exchange (LMX) theory is a relationship-based leadership theory. This idea holds that the strength of the exchange connection that develops between leaders and their followers is what defines leadership.
A leadership style called transactional leadership, which is often referred to as managerial leadership, uses rewards and penalties to ensure that employees perform to their full potential. An exchange or transaction serves as the foundation of the transactional executive leadership concept. This theory, often referred to as LMX or the Vertical Dyad Linkage Theory, examines how team members and leaders form ties and explains how those interactions may either promote or inhibit progress. The purpose of the LMX theory is to clarify how leadership influences individuals, groups, and organisations. Consequently.
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what are the most important considerations for you in accepting your next position?
Aside from income, there are many other crucial aspects to consider while analyzing a job offer.
Three critical elements to consider before accepting a new job.Compensation and Benefits: Review the whole compensation and benefits package given. Find out how similar positions' pay and benefits packages compare. This could include conducting online searches, speaking with your recruiter, or even speaking with people in comparable roles.
Time: Make sure you have enough paid time off or flexibility in your work schedule to recover and recharge.
Mission, Core Values, Leadership, and Culture of the Company: The mission of a corporation outlines why it exists, and its core values define what the organization stands for. They form the cornerstone of the organization, guiding who they employ, fire, and promote.
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Scamming is a national issue; in fact, the vast majority of scamming schemes come from within the United States which make it extremely easy to trace and control. t or f
True theft/larceny occurs when someone or something takes money or property or uses it in an illegal way with the intention of profiting from it. This includes financial crimes such as fraud Scamming.
How widespread is fraud?Every year, one in ten adults in the US become the victim of a scam or fraud. Identity theft affects 1.3 million kids each year. Theft of your wallet increases your risk of being a victim of identity fraud more than online fraud does.
Threat and penalty scams: what are they?Threat and penalty scams—also known as extortion schemes—occur when con artists use threats of harm (emotional or bodily), arrest, legal action, or other demands as leverage.
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transactions that don’t increase or decrease cash, but that result in significant investing and financing activities, are reported either directly after the cash flow statement or in a separate note to the financial statements as noncash activities.
This statement is true: Transactions that don’t increase or decrease cash, but that result in significant investing and financing activities, are reported either directly after the cash flow statement or in a separate note to the financial statements as non-cash activities.
All investing or financing activities that don't generate cash flows must be disclosed separately under ASC 230. This disclosure may be presented in tabular or narrative style. According to what is necessary, the noncash operations may appear in other footnotes, a distinct footnote, or even on the same page as the statement of cash flows.
Examples of non-cash investing and financing transactions are given in ASC 230-10-50-4:
shifting from debt to equityacquiring productive assets by taking on liabilities that are closely tiedacquiring something through a financing lease 1Getting a gift of a building or investment assetA non-cash asset or liability is exchanged for another non-cash asset or liability.Know more about non-cash investing:
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the trading activity involving purchases of large blocks of securities on the expectation of a favorable price move over the next several weeks or months is called
Position trading is a type of trading that entails buying significant quantities of securities in anticipation of a positive price change over the following several weeks or months.
What Is a Position Trader?A position trader purchases an investment in the hope that its value will increase over the long run. Short-term market changes and current events are less important to this type of trader until they change their long-term perspective on the position.Position traders seek to profit from long-lasting patterns in the pricing of assets by spotting these trends and taking advantage of them. Position trading typically has the potential to offer profitable profits that are not negated by excessive transaction costs.Is positional trading better than investing?Positional trading lasts longer than long-term investing. Deals made by position traders may extend for several weeks or even months.In contrast, a trader who engages in positional trading takes both short and long positions, as opposed to an investor who simply takes a long stake.Position trading is a type of trading that entails buying significant quantities of securities in anticipation of a positive price change over the following several weeks or months.
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FILL IN THE BLANK. it is mandatory for both the employer and employee to pay ________.
Answer: FICA taxes
Explanation:
As Katie's health declined, she was concerned that her husband would be left
with a financial burden if she passed away. She also trusted her husband to
use the money responsibly. Katie and her husband have a son who is an adult
with his own family, and they also have a loyal neighbor who has always been
helpful. In this case, who is Katie's beneficiary?
OA. Katie's neighbor
B. Katie's husband
OC. None exists
D. Katie's son
Based on the information provided, Katie's beneficiary is likely to be her B. husband.
Why is the husband the beneficiary ?It can be reasoned that Katie's intention is for her husband to inherit the money she has entrusted him with, as shown by her confidence in his responsible use of it.
This inference is supported by the absence of arrangements made by Katie in favor of either her son or neighbor concerning the funds. We can therefore conclude that the husband is the likely beneficiary.
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Old Navy jeans are sold exclusively at Old Navy stores. This is an example of a(n) _________ brand.
a) generic brand
b) custom coded brand
c) private-label or dealer brand
d) open-ended brand
Old Navy jeans are sold exclusively at Old Navy stores. This is an example of private-label or dealer brandbrand.
What is private-label brand ?The term "private label" refers to products sold under the retailer's own brand but manufactured by a third party known as a private label manufacturer. In other words, the company that brands and sells the product is different from the company that actually manufactures the product. Other private label examples include hardware stores that offer private label paints and other items, and hair salons that offer their own shampoos and beauty products. Private label supermarket brands are available in nearly every category, from personal care products and beverages to condiments and frozen foods.
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the large increase in household wealth in the united states in the 1990s and early 2000s was the result of:
It was the result of large capital gains.
The government anticipates a portion of any profits you make from your investments, sometimes known as "capital gains," just as it does from your income. The capital gains tax has been reduced. Understanding the distinction between realized and unrealized gains for tax reasons is useful. An rise in the value of an asset or investment you hold but haven't yet sold for cash is known as an unrealized gain. It is a prospective profit that only exists on paper. Consider the scenario where you purchase some company stock and, a year later, it is worth 15% more than what you paid for it.
Although your investment has grown 15%, you still hold the shares, so the gain isn't recognized.
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the sale of securities to an insurance company is exempt under the act under the: a blue chip exemption b exempt security c sophisticated investor exemption d non-issuer exemption
In an exempt transaction, a company can exchange securities without having to register with any regulatory organisations.
The Securities Act of 1933 does not apply to whom?According to Section 4 of the Securities Act of 1933, exempt securities are financial instruments that are backed by the government and often have a government- or tax-exempt status. To further understand this kind of security, let's look at a few examples: Public sector securities. securities issued by foreign governments
What kinds of securities are exempt from the need to register?The SEC believes that some securities and transactions are exempt from the need for registration. Government securities, bank securities, high-quality debt instruments, non-profit securities, and insurance contracts are examples of exempt securities that are frequently used in financial transactions.
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during a sale, a store offered a 40% discount on a couch that originally sold for $880. after the sale, the discounted price of the couch was marked up by 40%. what was the price of the couch after the markup? round to the nearest cent.
The camera now costs $378 after the following price rise.
How do equations work?
Equations are statements in mathematics that have two algebraic expressions on either side of the equals (=) sign.
It shows that the expressions printed on the left and right sides have an equal relationship.
Some of the elements of an equation are coefficients, variables, operators, constants, terms, expressions, and the equal to sign. When creating an equation, the "=" symbol and terms on both sides are a need.
given the data,
Let the price rise following the discount be = I
Let A = $ 450 serve as the camera's initial purchase price.
Let the camera's discount rate be 40 percent.
The equation is now given by.
The cost of the camera after the discount is therefore equal to 450 - (40/100) times 450.
After the discount, the camera's cost is: 450 - ( 450 x 0.4 )
After the discount, the camera's cost is equal to 450 minus 180.
After the discount, the camera costs $ 270.
The equation is also:
The discounted price is increased by 40% following the sale.
Therefore, the price of the camera has grown by 270 + (40/100) x 270.
The camera's increased cost is I = 270 + ( 270 x 0.4 )
The camera's increased cost is equal to 270 plus 108.
The camera I's increased cost is $ 378.
I thus has a value of $378.
Consequently, the camera now costs $378 after the increase.
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Answer:
$739.20
Explanation:
for her sales presentation, myra wants to design a chart which shows how much faster wounds heal when protected with solosite, a water-based ointment. to create the most effective chart, she should
For her sales presentation, myra wants to design a chart which shows how much faster wounds heal when protected with solosite, a water-based ointment. to create the most effective chart, she should- None of the above
A sales pitch is another name for a sales presentation. It is a stream of reasoning meant to convince someone or something. It aids in the opening and closing stages of a presentation plan for a good or service. The four categories—memorized (structured), persuasive selling (semi-structured), need-satisfaction (unstructured), and problem-solution (centralized)—are typically presented in a zig-zag manner to leave plenty of room for the additional details.To know more about Sales here
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what is the set of rewards that organizations provide to individuals in return for their willingness to perform various jobs and tasks within the organization?
Compensation is the set of rewards that organizations provide to individuals in return for their willingness to perform various jobs and tasks within the organization.
Compensation is the set of rewards that organizations provide to individuals in return for their willingness to perform various jobs and tasks within the organization.
A representative can be a utilized by a characterized as a person boss of work to perform explicit undertakings, obligations or capabilities in an association.
Fundamentally, a worker is burdened with the obligation of offering explicit types of assistance to the association or organization where he is right now utilized while being paid a specific measure of cash hourly, everyday, week by week, or month to month relying upon the legally binding understanding between the two gatherings (boss and representative).
Thus, while a business might be the proprietor of a business firm or organization, a representative is a subordinate utilized to offer steadfast types of assistance to the business while likewise, being proficient and determined consistently.
A correspondence standard alludes to a prize framework where the business or human asset chief choose to redress or pay the whole labor force a similar measure of cash without separation or bias.
Fundamentally, it's paid paying little mind to individual efficiency levels, to elevate the capacity to work really in gatherings.
In any case, one of the determinants of workers' eagerness to apply exertion is how much they esteem the prizes presented by the association. These prizes ordinarily incorporates pay, additional time, transportation (vehicle), house, annuity, medical care, remittances, and so forth.
Consequently, the eagerness of a representative to place in his best at his work environment by applying more exertion, is generally subject to the prize framework planned and being executed in the association.
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internal controls have at least three specific objectives in regards to fraud. which of the following is not one of those objectives? a. detection b. mitigation c. deterrence d. prevention
The concept given here is Internal Control. The answer is option C, mitigation.
Internal control is a process, effected by an reality's board of directors, operation, and other labor force, designed to give reasonable assurance. That information is dependable, accurate, and timely.
Of compliance with applicable laws, regulations, contracts, programs, and procedures. The primary purpose of internal controls is to help guard an association and further its objects.
Internal controls serve to minimize pitfalls and cover means, insure the delicacy of records, promote functional effectiveness, and encourage adherence to programs, rules, regulations, and laws.
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according to research involving business customers, the number-one characteristic found to define a world-class salesperson is someone who:
According to research involving business customers, the number-one characteristic found to define a world-class salesperson is someone who personally oversees the customer's pleasure by taking responsibility for the intended outcomes.
In sales, trade, and economics, a customers is the person who receives an item, service, product, or idea from a seller, vendor, or supplier in exchange for money or another useful consideration. A customer is also referred to as a client, buyer, or purchaser. Early communities relied on a favor-based gift economy. Later, as commerce grew, human relationships were less long-lasting and more dependent on momentary necessities than on persistent social desires. Clients are people who receive individualized advice and answers, whereas customers are typically thought of as those who purchase goods and services. The word "client" comes from the Latin word "clientus," which means "to incline" or "to bend." It is related to the sentimental concept of closure. It is generally accepted that people only alter their routines when driven by fear and greed. Since gaining a client is a one-time event, specialists who deal with specific problems are more likely to draw long-term clients than transient ones. Long-term customers purchase based on experience and trust as opposed to ordinary customers, who just consider price and value.
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g which of the following are available as damages under title vii? select one: a. all of these b. attorney fees c. court costs d. up to two years of back pay
D is the ideal choice. The Rehabilitation Act, Title VII, and GINA all limit payback to two years prior to the filing date of the discrimination case.
The agency must offer the employee back pay and non-discriminatory placement in the position they would have had absent the discrimination if the agency or the Commission determines that the employee was the victim of discrimination.
The goal of a payback award is to reimburse the claimant for any income lost due to the discrimination.
Back pay may result from a variety of unfair workplace practices. The most frequent behaviors that result in back pay are terminations, suspensions, rejections of promotions, and failures to hire.
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she paid a $30 commission on this transaction. she has decided to sell these shares at $25.00 each and will incur a $25 commission on this sale. what is the total investment amount?
945 , This is as a result of the $30 commission that She paid on this deal. She has made the decision to sell these shares for $50 each, plus a $25 commission.
A $10 brokerage commission is charged. What would the round-trip cost be if you rapidly sold all 100 shares you purchased at the aforementioned bid and ask prices His direct and indirect holdings have been disclosed in regular filings. Then, in order to raise the down payment, he chooses to sell 10,000 shares. When a person's current income is greater than his current consumption needs, he saves the difference. Rather than preserve these savings in his possession
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Miguel is vice president of marketing at xyz corp. He is disappointed to learn that the vice president of sales at xyz earns 20 percent more than he does despite the two positions having similar levels of responsibility and impact. In this example, what method is miguel using to evaluate the fairness of his pay?
Miguel holds the position of vice-president of marketing at xyz Corp. Because Miguel ended up having $35 more so than he did, he is unsatisfied.
What are the many types of marketing?The 4 P are a "combination of strategies" that includes four crucial elements for selling a product or service product, price, place, and marketing. Businesses frequently consider the four Ps when creating plans and objectives for reach their intended audiences.
What is an effective marketing example?In a word, it is an effort to make customers aware of a business's offers, which can include both physical goods for sale or services rendered. Advertising on television, on billboards along the highway, and in magazines are all common examples of marketing in action.
Briefing
He spends $35 × 4 = $140.
He earns $21 × 5 = $105.
His net increase is $105 -140 = -$35.
Miguel ends up with $35 less than he started with.
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recall different interest rates we have talked about in this class. what is the rate of interest that the fed reserve (fed) pays commercial banks on their deposits with the fed ?
The rate of interest that the fed reserve (fed) pays commercial banks on their deposits with the fed is rate on reserves.
What is meant be rate of interest?
In accounting rate of interest refers the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.
Here we need to find the rate of interest that the fed reserve (fed) pays commercial banks on their deposits with the fed.
Here we know that, the rate of interest is the one that influence borrowing costs and spending decisions of households and businesses.
Therefore, the rate on the reserve implies the interest rate of fed reserve.
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equipment depreciation, the number and type of supplies needed for patient care, and overtime that occurs in response to an emergency are all examples of what type of expenses?
Equipment depreciation, the number and type of supplies needed for patient care, and overtime that occurs in response to an emergency are all examples of Non Controllable expenses. Therefore, option (D) is the correct answer.
Non-controllable expenditures, also known as unmanageable costs, are out-of-control expenses that a manager has no control over.
Some managers may have expenses that must be paid out of their department based on the organisational hierarchy of the company, but they have no influence over the amount or timing of these expenses. These expenses may be mandated by management or officers above a department and passed down the food chain. Non-controllable costs frequently have a fixed nature and can rarely be adjusted within the regular course of business (or fiscal year)
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Complete question:
Equipment depreciation, the number and type of supplies needed by patients, and overtime that occurs in response to an emergency are all examples of what type of expenses?
A) Controllable
B) Fixed
C) Capital budget
D) Noncontrollable
what is double-entry accounting? a a budgeting method where you plan for double every expected expense to ensure that you never budget less than you need. b a budgeting method where you record your earnings twice: once to track where your money is going, and once to decide what it is for. c a department at most companies that handles all the money and tracks receipts. d a way to double-check y
Double-entry accounting is a budgeting method where you record your earnings twice: once to track where your money is going, and once to decide what it is for.
Every transaction is recorded in two accounts one for a debit and one for a credit in a double-entry bookkeeping system. Businesses can record transactions in double-entry accounting using any combination of the five categories of accounts: assets, liabilities, equity, revenue, expenses, gains, and losses. Debits are shown on the left side of each journal entry while credits are listed on the right.
Double-entry accounting lowers mistakes and increases the likelihood that your accounts will balance. Double-entry accounting has several advantages for businesses since it not only lowers mistakes but also aids in financial reporting and thwarts fraud.
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an individual is more likely to free ride when a good is: question 3 options: a) artificially scarce. b) nonexcludable. c) private. d) nonrival.
Option b. non-excludable is the correct answer. An individual is more likely to free ride when a good is non-excludable
Public commodities that cannot be used in a way that excludes a specific person or group of people are known as non-excludable goods. This makes limiting access to the consumption of non-excludable items all but impossible. An illustration of a non-excludable good is a public road. A public road is accessible to almost everyone, even if they are only using it for walking (rather than driving a motorized vehicle). The opposites of excluded commodities are those that are not excluded. The former refers to products that all people may access and consume, whereas the latter describes goods that only certain people can use.
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which is the false statement regarding voting rights of variable annuity contract owners? owners can vote for:
The false statement regarding the voting rights of variable annuity contract owners is: "owners can vote for operating management of the underlying mutual fund".
This is false because variable annuity owners do not have the right to vote for the operating management of the underlying mutual fund.
A variable annuity is a type of investment that allows individuals to invest in a portfolio of investments, such as stocks, bonds, and mutual funds. The return on the investment depends on the performance of the underlying investments. Variable annuities offer tax-deferred growth, meaning that taxes are not due until the annuity is withdrawn.
Mutual funds are investment funds that are managed by professional fund managers. They are composed of a pool of money from a variety of investors and allow for diversification across a wide range of investments. Mutual funds are typically actively managed and have a variety of fees associated with them. Returns on mutual funds depend on the performance of the underlying investments.
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a novation requires a. the existence of a previous, valid obligation. b. consideration greater than $5,000. c. performance of the original contract by all of the parties. d. an accord and satisfaction.
A novation requires performance of the original contract by all of the parties.
Under the context of contracts and commercial law, novation refers to the act of replacing one duty with another, introducing a new obligation, or changing one party from one to another in an agreement.
A sovereign state may novate territory by "gradually transforming a claim in foreign territory into complete sovereignty without any formal or clear instrument to that purpose interfering," according to international law. The word is seldom ever used in English law; instead, a new debtor or creditor's replacement is often referred to as an assignment and a new contract as a merger.
Hence the correct option is C.
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When padgett properties llc was formed, nova contributed land (value of $200,000 and basis of $50,000) and $100,000 cash, and oscar contributed cash of $300,000. Both members received a 50% interest in llc profits and capital.
Padgett’s tax basis in the land is $50,000 that is Nova contributed land of Basis.
What do you mean by Capital?The resource known as capital, which can be money in the form of cash or kind, is used to further purchase inputs and raw materials.
According to the Question, the given data are as follows:
Nova contributed land of value = $200,000
Nova contributed land of Basis= $50,000
Oscar Contributed cash = $300,000
Nova contributed cash = $100,000
Nova contributed land of Basis is the only tax basis in the land for Padgett's.
So, Padgett’s tax basis in the land is equal to Nova contributed land of Basis
Padgett’s tax basis in the land = $50,000.
Therefore, $50,000 is Padgett’s tax basis in the land.
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if a small increase in the price of a good reduces quantity demanded to zero, demand is and the price elasticity of demand is equal to . group of answer choices perfectly elastic; infinity unit elastic; one perfectly inelastic; zero perfectly elastic; zero
Demand and price elasticity of demand are both completely elastic if a small price rise causes the quantity desired of an item to decrease to zero.
The correct option is a.
A good or service's price elasticity of demand is calculated by dividing the percentage change in the amount sought by the percentage change in the price. The ratio of the percentage change in quantity supplied to the percentage change in price is the price elasticity of supply.
Comparing changes in consumption to price changes is price elastic demand. Price elasticity of demand gauges how much a change in price affects how much an item is consumed. It is computed by subtracting the percent change in price from the percent change in consumption.
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as the quantity sold rises, how does marginal revenue compare to price for a company with market power?
How well does marginal revenue for a firm with market dominance compare to price as the amount sold increases. The margin is constantly falling below the price.
The meaning of incomeRevenue is the entire amount of money received from of the sale of goods or services related to a company's main operations. Revenue, also known as sales revenue, is commonly referred to as the "top line" since it appears just at top of a earnings statement. Income, often known as net income, is the total revenue or profit made by a business.
What does a company's revenue actually mean?The total profit generated by an organization's main operations, including the sale of goods or services, the rent of property investment, part based, the interest on loans, etc., is referred to as revenue.
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preferred stock is growing a source of financing with more and more companies issuing preferred shares each year. question content area bottom part 1 true false
The following statement "Preferred stock is growing a source of financing with more and more companies issuing preferred shares each year" is true.
You have a financing choice besides going on debt in the form of preferred stock. If you continue to issue existing common shares, you often retain more influence over your business. Keeping debt off of your balance sheet and holding onto a call option will also allow you to maintain flexibility for future funding rounds.
The right to receive revenue from a company's activities and ownership of the business is represented by preferred stock, a separate sort of equity. Dividends, for example, have a greater priority for preferred investors than for regular stockholders.
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the required reserves of a bank equal its ________ the required reserve ratio.
The required reserves of a bank equal to its deposits multiplied by the required reserve ratio.
The reserve ratio of the commercial bank is the portion of reservable liabilities that the bank must hold on instead of to invest or lend out. The reserve ratio of the commercial banks is determined by the country's central bank and all the commercial banks in that country are bound to keep that reserve ratio for smooth running of the economy. Reserve ratio is also called the cash reserve ratio.
The minimum amount that a commercial bank must hold as directed by the central bank is called reserve requirement or required reserve. The required reserve ratio is sometimes used by bankers synonymously with the cash reserve ratio or reserve ratio.
To calculate the required reserve of a bank, the formula is given below:
Required reserve of bank = Deposits x Required Reserve Ratio.
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what are Budgets ....
Answer: Budgets is an estimate of income and expenditure for a set period of time. The term budget refers to an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis. Budgets can be made for any entity that wants to spend money, including governments and businesses, along with people and households at any income level.
To manage your monthly expenses, prepare for life's unpredictable events, and be able to afford big-ticket items without going into debt, budgeting is important. Keeping track of how much you earn and spend doesn't have to be drudgery, doesn't require you to be good at math, and doesn't mean you can't buy the things you want. It just means that you'll know where your money goes, and you'll have greater control over your finances
Explanation:
A budget is an estimation of revenue and expenses over a specified future period of time and is utilized by governments, businesses, and individuals at any income level.
A budget is basically a financial plan for a defined period, normally a year that is known to greatly enhance the success of any financial undertaking.
Corporate budgets are essential for operating at peak efficiency.
Aside from earmarking resources, a budget can also aid in setting goals, measuring outcomes, and planning contingencies.
Personal budgets are extremely useful in managing an individual's or family's finances over both the short and long-term horizon.
Hope this was helpful
Answer:A budget is a financial document used to project future income and expenses. To put it simply, a budget plans future saving and spending as well as planned income and expenses.