Effective rate of interest is the percentage rate of return on an annual basis, reflecting the effect of intra-year compounding.
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- Interest Rate Swap
An interest rate swap is an arrangement whereby one party exchange one set of interest payments for another. In the most common arraignment...
- Unit Banking Organization
In the unit banking system, the banking operations are carried through a single office and confined to a particular area.
- Cash Against Documents (CAD)
Cash Against Documents indicates invoice amount to be paid by the buyer/importer at sight on presentation of relative commercial documents.
- Perpetual inventory system
It is a system of records maintained by the controlling department which reflects the physical movement of stock and their current balance.
- Gresham law
Sir Thomas popularly known as Gresham was the master of mint, during Queen Elizabeth the 1st. Statement of the law:”Bad money derives good money out of circulation”
- Clean-up merger
Clean-up merger also called Take-out merger. The consolidation of the acquired firm into the acquiring firm after the acquirer has obtained
- Special drawing rights(SDRs)
The financing by the IMF is measured in Special drawing rights(SDRs). The SDR is not a currency but simply a unit of account.