Bankers Recruitment Text : Basic Concepts of Finance and Banking ( Accounting unit,Bear market,Actual (bank) reserves,Bill of exchange,Asset ,Bill of lading. Audit, Black Money, Audit, Authorized capital)

Bankers Recruitment Text : Basic Concepts of Finance and Banking

1) Accounting unit : A way of measuring the relative value of goods and services .It is one of the functions of money.

2)Bear market : A bear market is a falling market. Where the prices of shares are falling. It is the opposite of bull market.

3)Actual (bank) reserves : Vault cash plus bank deposits at the Fed.

4)Bill of exchange: A bill of exchange is document ordering the payment of money, drawn by one person or  bank or on another

5)Asset :  Asset is any object, tangible or intangible, that is of value to its possessor.      

6)Bill of lading    : A shipping document indicating the details of the shipment and delivery of of goods and their ownership.

7)Audit : Audit is an independent examination of , and the subsequent expression opinion on, the financial statements of an organization.

8)Black money : Money accumulated by way of illegal transactions without declaring it for tax purposes is called black money.

9)Auditor : An auditor is a person or firm appointed to carry out an audit of an organization.

10)Authorized capital : The authorized capital of a company is the maximum amount of share amount of share capital that the company is authorized by its constitutional documents to issue to shareholder.