Define Referendum
Referendum: This is the power of the electors to support or reject statutes or parts of statutes, with particular exceptions and meeting particular deadlines and number of voter’s signatures.
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Explain intermediation.The financial system makes it achievable for surplus and deficit economic units to come together, exchanging funds for securities, to their mutual profit. While funds flow from surplus economic units to a financial institu
Trigger: An event which causes an action or actions. The triggers can be active (like pressing the update key to validate input to a database) or passive (like a tickler file to repeat of an activity). For illustration, budget "trigger" mechanisms hav
Explain characteristics of an efficient market?Market efficiency refers to the speed, ease and cost of trading securities. Within an efficient market, securities can be traded quickly, easily and at low cost. Markets lacking these qualities are
Service Revolving Fund: A fund employed to account for and finance most of the client services provided by the Department of General Services. The amounts expended by the fund are repaid by sales and services priced at rates adequate to keep the fund
Fund Balance: For accounting aims, the excess of a fund’s assets over its liabilities. And for budgeting aims, the surplus of a fund’s resources over its expenses.
Financial Reporting: It is a set of documents made generally by government agencies at the end of accounting period. It usually enclose summary of accounting data for that time period, with background forms, notes, and other information.
Nongovernmental Cost Funds: For lawful basis purposes, employed to budget and account for revenues other than common and special taxes, licenses, and fees or some other state revenues.
Describe relationship among a bond's market price and its promised yield to maturity? Describe.A bond's market price based on its yield to maturity (YTM). While a bond has YTM greater than its coupon rate, it sells at discount from its face va
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