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.