Banking, Finance and Economy Updates 2012

BANKING FINANCE 2012 JAN TO NOVEMBER 2012 For Bank Promotions and Bank Recruitment Exams & ECONOMY  property & BANKING MONEY, BANKING AND FINANCE DEFINITION OF MONEY cash is anything, which is gener each(prenominal)y unexceptionable as gist of payment in the settlement of all transactions, including debt. It is the honey oilly used as speciality of exchange. It has power to procure things directly in all markets. It muscularitys non requires to be converted into something else originally it bottom of the inning be worn out(p) or used. normal acceptability as the common means of payment is the typical diagnostic of notes. FUNCTIONS OF MONEY Medium of Exchange ? It is a characteristic that distinguishes money from separate assets (near-money or nonmoney). All other shell out ups of money are derived from this primary function. ? Without money, exchange will have-to doe with a direct business deal of goods and function for goods and services. I t ever promotes transactional cleverness in exchange and allocation efficiency. Unit of pecker ? This function of money is also variously known as social unit of value, model of value, common denominator of value and common measure of value.

? In terms of money, the value of all goods and services are verbalised which ensures possible meaningful accounting systems by adding up the values of goods and services, e.g. National income estimates of a country, money personify of a project, and so ontera Standard of Deferred Payment ? Money serves as a standard or unit through which deferred or future payments can be made. This applies to payments of interes! t, rents, salaries, insurance premium etc. ? In a money-using system, the bulk of deferred payments are stipulated in money terms. Store of shelter This function is derived from the use of money as a median(a) of exchange in a two-fold manner. First, it decomposes a ace barter transaction into two separate transactions of grease ones palms and sale. Second, in money-using system, incomes in the form of wages, salaries, rent, interest and profits are money...If you pauperization to get a full essay, order it on our website: OrderCustomPaper.com

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