Explain the following terms/concept : Fiduciary duty

Explain the following terms/concept : Fiduciary duty
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Explain the following terms/concept : Fiduciary duty
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Corporate Fiduciary Duties?

Description : Corporate Fiduciary Duties?

Last Answer : Corporate fiduciary duties demand that the "fiduciary," (who is given legal control over funds), establishes a "standard of care" that rejects normal self interest for the benefit of the ... finances. The fiduciary must not take advantage of or betray the confidence of the entrusting parties.

The Monetary Authority in India, viz Reserve Bank of India is bound to maintain a reserve against the notes issued, Whatever may be the mount. This system is called as __________ A. Minimum Reserve System B. Proportional Reserve System C. Maximum Fiduciary Issue system D. Simple deposit system E. None of the Above

Description : The Monetary Authority in India, viz Reserve Bank of India is bound to maintain a reserve against the notes issued, Whatever may be the mount. This system is called as __________ A. Minimum Reserve ... Reserve System C. Maximum Fiduciary Issue system D. Simple deposit system E. None of the Above

Last Answer : A. Minimum Reserve System Explanation: The RBI follows a minimum reserve system in the note issue. Initially, it used to keep 40 per cent of gold reserves in its total assets.

Any type of money that has face value greater than its value as material substance is known as _______ A. Commodity Money B. Representative Money C. Fiat Money D. fiduciary currency E. None of the Above

Description : Any type of money that has face value greater than its value as material substance is known as _______ A. Commodity Money B. Representative Money C. Fiat Money D. fiduciary currency E. None of the Above

Last Answer : B. Representative Money Explanation: A claim on a commodity, for example gold certificates or silver certificates. Any type of money that has face value greater than its value as material substance is called Representative Money.

Paper Money issued on the credit of a bank or government is called ______ A. Commodity Money B. Representative Money C. Fiat Money D. Fiduciary currency E. None of the Above

Description : Paper Money issued on the credit of a bank or government is called ______ A. Commodity Money B. Representative Money C. Fiat Money D. Fiduciary currency E. None of the Above

Last Answer : D. Fiduciary currency Explanation: Fiduciary Money that depends for its value on confidence that it is an accepted medium of exchange. It originated as a paper certificate that was a promise to pay a certain amount of gold or silver to the bearer.

Which of the following is a form of money that has an intrinsic value, like gold coins? A. Commodity Money B. Representative Money C. Fiat Money D. fiduciary currency E. None of the Above

Description : Which of the following is a form of money that has an intrinsic value, like gold coins? A. Commodity Money B. Representative Money C. Fiat Money D. fiduciary currency E. None of the Above

Last Answer : A. Commodity Money Explanation: Commodity Money is a form of currency in which the value of the currency comes from the material of which it is made.

Which of the following is a currency established as money by government regulation or law but it is not backed by any commodity, such as gold, silver etc., but only by the faith of the bearer? A. Commodity Money B. Representative Money C. Fiat Money D. fiduciary currency E. None of the Above

Description : Which of the following is a currency established as money by government regulation or law but it is not backed by any commodity, such as gold, silver etc., but only by the faith of the bearer? A. Commodity Money B. Representative Money C. Fiat Money D. fiduciary currency E. None of the Above

Last Answer : C. Fiat Money Explanation: Fiat money is currency that a government has declared to be legal tender, but it is not backed by a physical commodity.

In their fiduciary role, the professional accountants owe their primary loyalty to: a. The accounting profession b. The general public c. The client d. Government regulatory agencies

Description : In their fiduciary role, the professional accountants owe their primary loyalty to: a. The accounting profession b. The general public c. The client d. Government regulatory agencies

Last Answer : The client

Define the terms: i) Tariff ii) Fuel surcharge iii) Electricity Duty iv) Connected load

Description : Define the terms: i) Tariff ii) Fuel surcharge iii) Electricity Duty iv) Connected load

Last Answer : i) Tariff: The rate at which a consumer is charged for the consumption of electricity is called as tariff. OR The amount of money framed by the supplier for the supply of electrical energy ... is the total wattage of all appliances which are used by the consumer on his sanctioned connection. 

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Explain the concept of following terms : (i) Connected load (ii) Maximum demand

Last Answer : 1. Connected Load: It is the sum of load of all equipment's connected to supply system which are in use or not in use of each consumer. OR   The sum of connected load of all consumers ... is the maximum load which a consumer uses at a particular time period out of his total connected load. 

How does covalent bond form in terms of orbital overlap concept?

Description : How does covalent bond form in terms of orbital overlap concept?

Last Answer : Ans. When two half filled orbitals overlap ,covalent bond forms .

Which of the following statements is incorrect about materiality? a. The concept of materiality recognizes that some matters are important for fair presentation of financial statements in conformity with GAAP, while other matters are not important. b. An auditor considers materiality for planning purposes in terms of the largest aggregate level of misstatements that could be material to any one of the financial statements. c. Materiality judgments are made in light of surrounding circumstances and necessarily involve both quantitative and qualitative judgments. d. An auditor’s consideration of materiality is influenced by the auditor’s perception of the needs of a reasonable person who will rely on the financial statements

Description : Which of the following statements is incorrect about materiality? a. The concept of materiality recognizes that some matters are important for fair presentation of financial statements in conformity with ... s perception of the needs of a reasonable person who will rely on the financial statements

Last Answer : An auditor considers materiality for planning purposes in terms of the largest aggregate level of misstatements that could be material to any one of the financial statements

Which of the following statements is NOT true about the concept of a customer ? 1. A customer and consumer are always the same thing - the terms are 2. completely interchangeable 3. customers can be described as clients 4. a customer doesn't necessarily consume the product that they have purchased 5. customers are satisfied clients

Description : Which of the following statements is NOT true about the concept of a customer ? 1. A customer and consumer are always the same thing - the terms are 2. completely interchangeable 3. ... customer doesn't necessarily consume the product that they have purchased 5. customers are satisfied clients

Last Answer : customers are satisfied clients

Species are considered as (a) real basic units of classification (b) the lowest units of classification (c) artificial concept of human mind which cannot be defined in absolute terms (d) real units of classification devised by taxonomists.

Description : Species are considered as (a) real basic units of classification (b) the lowest units of classification (c) artificial concept of human mind which cannot be defined in absolute terms (d) real units of classification devised by taxonomists.

Last Answer : (c) artificial concept of human mind which cannot be defined in absolute terms

A detailed stated version of shortlisted new ideas in meaningful consumer terms is best classified as *  concept  phase  screening  raw-material screening

Description : A detailed stated version of shortlisted new ideas in meaningful consumer terms is best classified as *  concept  phase  screening  raw-material screening

Last Answer :  concept

The detailed stated version of shortlisted new ideas in meaningful consumer terms is best classified as A. product concept B. production phase C. production screening D. raw-material screening

Description : The detailed stated version of shortlisted new ideas in meaningful consumer terms is best classified as A. product concept B. production phase C. production screening D. raw-material screening

Last Answer : A. product concept

A detailed stated version of shortlisted new ideas in meaningful consumer terms is best classified as A.concept B.phase C.screening D.raw-material screening Answer: A

Description : A detailed stated version of shortlisted new ideas in meaningful consumer terms is best classified as A.concept B.phase C.screening D.raw-material screening Answer: A

Last Answer : A.concept

What do all of the following have in common: tuition, fee, premium, retainer, dues? A)They all must be paid in cash. B)They are forms of exchange similar to, but not identical with money. C)They are forms of exchange similar to, but not identical with barter. D)They are different terms for the concept of price.

Description : What do all of the following have in common: tuition, fee, premium, retainer, dues? A)They all must be paid in cash. B)They are forms of exchange similar to, but not identical with money. ... of exchange similar to, but not identical with barter. D)They are different terms for the concept of price.

Last Answer : D)They are different terms for the concept of price.