What is Import? Import refers to bringing goods, commodities, or services from abroad to our country for sale. In simple words importing is purchasing goods from the rest of the world rather than buying domestically. Import and export are international transactions of a country and are important for any country. A country imports goods and …
What is Budget? A budget may be compiled for a person, a family, a group of people, a business, a government, or a non-profit organization. The process of creating a budget is called budgeting. A budget is an important tool for decision making, as it allows a person or organization to track actual results against …
What is Autocratic Leadership? Autocratic leadership refers to the governing body in an established autocracy. Autocracy is a system of government in which the power is centralized around the leadership. The leadership is free to make decisions as per their preferences and choices. The people of the polity are not allowed to question or criticize …
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What are Right Shares? Right Shares are a type of business shares that a company issues to its already existing shareholders at a lesser cost. The shareholders have the option to accept or decline the offered deal. They can even sell these shares in the market to someone else. These shares can only be bought …
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What is Compensation? Compensation refers to payment given to an employee because of work performed. It is the compensation you give to workers in exchange for the services they render to you. These services can include their time, intellectual resources, and loyalty to your organization. The use of compensation packages is becoming more popular as …
What is Audit? Audit is a commonly spoken word in the field of accounting and finance. Conceptually, it refers to the impartial analysis of an entity’s transactions and records. Auditing is a critical component of the finance structure of large-sized enterprises. Auditing ensures that the transactions and financial operations conducted within a company during a …
