What is Recall and Redemption
What is Recall and Redemption:Recall: The power of electors to eliminate an elected officer.Redemption: This is the act of redeeming a bond or other security by issuing an agency.
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Define operating leverage effect and what causes it? Describe potential benefits and negative consequences of high operating leverage? The operating leverage effect is the phenomenon where a small change in sales triggers a comparatively large
Section 26.00: It is a Control Section of Budget Act which gives the authority for the transfer of funds from one class, program or function in a schedule to the other category, program or function in the similar schedule, subject to particular limita
Budget Act (BA): The annual statute authorizing state departments to use up appropriated funds for the aims stated in the Governor's Budget and improved by the Legislature.
Unanticipated Cost or Funding Shortage: A lack or scarcity of (a) cash in a fund, (b) expenses authority due to an inadequate appropriation, or (c) expenses authority due to a cash problem (example, reimbursements not received on a timely base).
What is the schedule of Federal Funds and Reimbursements, Supplementary: The supplemental schedule proposed by departments throughout budget preparation that exhibits the federal receipts and reimbursements through source.
Modified Accrual Basis: The base of accounting in which revenues are acknowledged when the underlying transaction has occurred as of the last day of the fiscal year and the quantity is measurable and accessible to finance expenditures
Non-add: Refers to the numerical value which is displayed in parentheses for informational purposes however is not comprised in computing totals, generally as the amounts are by now accounted for in the budget system or display.
Describe the benefits of "paying late" (but not too late) and how do companies try to do this? Since money has time value, the later cash is paid, but not too late, the better. Companies employ remote disbursement banks to facilitate holding at
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