MonPol Unit 6 FINALS

What are the Branches of Finance?

• Entrepreneurial

• Personal

• Corporate

• Public

• Accounting

A field of economics concerned with how governments raise money, how that money is spent, and the effects

Method of raising public revenue, the principles of taxation and its problems

• Public Revenue

• Public Expenditure

• Public Debt

• Financial Administration

• Economic Stabilization

Principles and problems of public funds that govern the flow of government’s funds into various streams

• Public Revenue

• Public Expenditure

• Public Debt

• Financial Administration

• Economic Stabilization

Problem of raising loans; loans raised by the government in a particular year is part of the receipts of the public authority

• Public Revenue

• Public Expenditure

• Public Debt

• Financial Administration

• Economic Stabilization

Problem of organization and administration of the government’s financial mechanism; involves government machinery, which is responsible in performing various state functions

• Public Revenue

• Public Expenditure

• Public Debt

• Financial Administration

• Economic Stabilization

Various economic policies and the other government measures to bring about economic stability of the country

• Public Revenue

• Public Expenditure

• Public Debt

• Financial Administration

• Economic Stabilization

Public finance enables governments to correct or offset undesirable side effects of a market economy.

• TRUE

• FALSE

Government redistributes income by collecting taxes from wealthier citizens to provide resources for needy ones

• TRUE

• FALSE

Main Aspect of Public Finance Administration

• Taxation

• Budgeting

• Accounting and Auditing

• Managing

• Safekeeping