IMPORTANT ECONOMIC
TERMS
Accepting house
: It is an institution specializing
in accepting or guaranteeing bills of exchange.
Account : It is a record for financial transaction in the form of stock or flows. It
is also an arrangement between a seller and a buyer under which a period of
credit is allowed before payment
Administered prices:
They are prices set by the
management decision rather than the negotiation between buyer and seller. The term
administered price. Is often used to refer to price fixing by a monopoly firm.
A cartel or government bodies some economist have argued that inflexible
administered price have been an important contribution cause of inflation.
Allotment-letter: it is a letter addressed to a subscribed to an issue of share
informing him of the number of shares that he has been allotted and- where
payment was not made with the application-the amount due.
Amortization : It
is the provision for the repayment of debit by means of accumulating a sinking
fund through regular payment which with accumulated interest , may be used to settle
the debit in installments over time or in a lump sum. The term is also used an
a synonym for depreciation.
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