What is Sinking Fund
Sinking Fund: It is a fund or account in which money is deposited at customary intervals to offer for the retirement of bonded debt.
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How does the market find out the fair value of a bond?The fair value of bond is the present value of the bond's coupon interest payments plus the present value of the face value payment at maturity, discounted at the market's required rate of re
Continuously Vacant Positions: On July 1, the positions which were continuously vacant for six successive monthly pay periods throughout the prior fiscal year are abolished by the State Controller's Office. The six successive monthly
Define the term Surplus: It is an outdated term for a fund’s excess of assets (or resources) over liabilities.
Bill: It is a draft of proposed law represented to the Legislature for performance. (A bill has bigger legal formality and standing than a resolution.) OR An invoice, or document statement, of an amount owing for s
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