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Q. Can you explain about Overdrafts?
Overdraft means an agreement with a bank by which a current account-holder is allowed to withdraw more than the balance to his credit up to a certain limit. There are no restrictions for operation of overdraft limits. The interest is charged on daily overdrawn balances. The main difference between cash credit and hovercraft is that overdraft is allowed for a short period and is a temporary accommodation whereas the cash credit is allowed for a longer period. Overdraft accounts can either be clean overdrafts, party secured or fully secured.
The capability of an asset to be converted into cash as quickly as possible without any discount to its value.
Explain about the in-quote-driven according to trade intermediation. In quote-driven dealer markets, a market-maker or dealer is onto one side of each trade. (Remember that dea
The following are considered the major stumbling blocks: The process becomes expensive because of the stamp duty payable. It also
$7000 are invested at 5% per annum compound interest compounded yearly. What would be the amount after 20 years? Solution Here i = 0.05, P = 7000, and n = 20. Putting it i
What is an annuity? An annuity is a series of equivalent cash flows, spaced consistently over time.
•?Detailed information should form the part of your answer (Word limit 150 to 200 words). Case let 1 This case provides the opportunity to match financing alternatives with the nee
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Audit risk Obtain understanding of accounting and internal control systems. Sufficient to plan audit and develop effective audit approach. Professional judgement to
Functions of Treasurer:- (1) Cash Management: - It comprises the managing of cash receipts and cash payments of the business. (2) Banking Relations: - It comprises operating
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