Download IMPORTANT TERMS 1. Accession Tax – 2. Active Market – 3

For – Bank, Railway, SSC, SI, Vyapam & Other Exam.
BANKING AWARENESS
IMPORTANT TERMS
1. Accession Tax –
This is a tax which is levied on gifts and inherited property. This tax is not a
liability on the donor. This tax is levied on the recipient.
2. Active Market –
This is a term used by stock exchange which specifies the particular stock or
share which deals in frequent and regular transactions. It helps the buyers
to obtain reasonably large amounts at any time.
3. Actuary –
It denotes the person who can wisely calculate risk. Actuary assesses risks
for the purpose of insurance. Insurance companies take the help of Actuary
while determining the premium on the basis of risk involved.
4. Authorised Capital –
It is maximum capital which can be raised by a public limited company
through public subscription by sale of shares. The authorised capital refers
to the maximum nominal value of all the shares that a company issues.
5. Balanced Budget –
When the total revenue of the government exactly equals the total
expenditure incurred by the government, the budget becomes a balanced
budget. But it is a conservative view point. In present days, the welfare
government has to regulate a number of economic and social activities
which increase the expenditure burden on the government and results in
deficit budget.