Disadvantages of Senior Citizen Savings Scheme: In 2004, the Indian government unveiled the Senior Citizen Savings Scheme (SCSS), producing substantial interest the various public, mainly the aged population. While you can already own a fundamental understanding of SCSS, your interest approximately the potential benefits and downsides of this scheme led […]
Category: Financial Terms
What is M-Commerce? Definition and examples
M-commerce stands for mobile commerce. This term refers to the buying and selling of products and services using mobile phones and other wireless handheld devices. For example, a PDA (personal digital assistant) is a portable wireless device. Kevin Duffey coined the term “mobile commerce” in 1997 when he initiated the […]
What are Installments? Definition and examples
In the arena of banking and loans, we name the payments you’re making every month for your financial institution installments. They are the constant month-to-month bills a borrower makes to a lender to pay off a mortgage. We additionally confer with a TV/radio episode as an installment. This article specializes […]
Major currencies definition and examples
The major currencies are the ones wherein maximum of the world’s foreign transactions are denominated. They also are the currencies that countries maximum usually fee their very own forex in opposition to. They are: US Dollar. Pound Sterling (British Pound). Euro. Japanese Yen. Swiss Franc. Canadian Dollar. Australian Dollar. Swedish […]
Majority interest definition and example
When anyone has a majority interest, it method that they very own at the least 51% of all of the shares of a agency. We additionally name it a controling interest or majority ownership. The time period might also additionally follow to a individual, organization of people, agency, or any […]
Managed account definition and examples
A managed account, withinside the global of investing, is an funding account that belongs to 1 man or woman however is managed or overseen with the aid of using any other man or woman. If I actually have this form of account, it way that a expert cash supervisor oversees […]
Accounts payable definition and examples
The time period bills payable or A/P refers to cash that a enterprise owes its providers. Accounts payable seems as a legal responsibility account in bookkeeping. It suggests how a lot a organization owes dealers or providers for services or products that it bought and obtained on credit score. On […]
Accounts receivable definition and examples
Accounts receivable or A/R is cash that a company is owed with the aid of using, for example, its clients. It is the balance of cash that the business enterprise expects will are available in for items or offerings that it delivered. If your company provides, for example, wooden to […]
Accountant definition and examples
An accountant is a certified person who prepares, audits, and finalizes the money owed of corporations, individuals, and different entities. They put together corporations’ annual reviews in addition to financial statements. Accountants additionally recommend on investments, enterprise strategies, and tax laws. Academically, an accountant is tons greater certified than a […]
Petty cash definition and examples
Petty cash is a shop of money this is effortlessly accessible, i.e., withinside the shape of cash, that agencies and different companies preserve for expenditure on miscellaneous and small objects. It is a discretionary cash fund for bills wherein bank transfers or writing a test (British: cheque) might now no […]