Define the term Judgments
Judgments: It is generally refers to decisions made by courts against the state. The payment of judgments is subject to a range of controls and procedures.
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
State three major sections of the statement of cash flows? Cash flows from investing activities Cash flows from Operations Cash flows from financing activities Net change in cash balance Cash balance at beginning of period
What is Frequency Distribution? Compare Categorical Frequency Distribution, Ungrouped Frequency Distribution, Grouped Frequency Distribution?
Abatement: A decrease to an expense which has already been made. In state accounting, only specific kinds of receipts are accounted for as abatements, comprising refund of overpayment of salaries, rebates from vendors and third partie
Operating Expenses and Equipment (OE&E): This is a class of a support appropriation which comprises objects of expenditure like general expenses, communication, printing, travel, data processing, tools, and accessories for the equipment.
Describe usual pattern of cash flows for share of preferred stock? How does the market fidn out the value of a share of preferred stock, given these promised cash flows?Preferred stock contains no maturity date hence, it has no maturity value.
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Technical: In the budget systems, refers to an amendment which clarifies, accurate, or else does not materially influence the purpose of a bill.
Explain financial markets? Why do they exist?In financial markets, financial securities are bought and sold. They exist chiefly to bring deficit economic units (those needing money) and surplus economic units (those have extra money) together.
Compare and contrast a prescribed benefit and contribution pension plan.In a prescribed benefit plan, retirement benefits are determined by a formula that typically considers the worker's age, salary, and years of service. The employee and
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