Finance Abbreviations

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “D” is correct.
The Ministry of Finance is a ministry within the Government of India concerned with the economy of India, serving as the Indian Treasury Department. In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “A” is correct.
The International Organization for Standardization (ISO) is an international nongovernmental organization made up of national standards bodies; it develops and publishes a wide range of proprietary, industrial, and commercial standards and is comprised of representatives from various national standards organizations.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “D” is correct.
The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “B” is correct.
The Foreign Exchange Management Act (FEMA), 1999, is an Act of the Parliament of India “to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India”.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “A” is correct.
The Federation of Indian Chambers of Commerce & Industry (FICCI) is a non-governmental trade association and advocacy group based in India. Established in 1927, on the advice of Mahatma Gandhi by Indian businessman Mr. G.D. Birla and Purshottamdas Thakurdas. It is the largest, oldest and the apex business organisation in India. It is a non-government, not-for-profit organisation. FICCI draws its membership from the corporate sector, both private and public, including SMEs and MNCs.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “A” is correct.
The Certified Payroll Professional (CPP) is a certification credential for experienced payroll professionals. To qualify for CPP certification, candidates at a minimum must have three years of payroll practice in the five years prior to taking the exam.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “C” is correct.
The assumed interest rate (AIR) is the rate of interest (or growth rate) selected by an insurance company. The assumed interest rate is provided to determine the value of an annuity contract and, therefore, the periodic income payment provided to the annuitant.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “D” is correct.
Return on sales (ROS) is a ratio used to evaluate a company’s operational efficiency. This measure provides insight into how much profit is being produced per dollar of sales. An increasing ROS indicates that a company is improving efficiency, while a decreasing ROS could signal impending financial troubles. ROS is closely related to a firm’s operating profit margin.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “C” is correct.
Return on net assets (RONA) is a measure of financial performance calculated as net profit divided by the sum of fixed assets and net working capital. Net profit is also called net income.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “C” is correct.
Return on invested capital (ROIC) is a calculation used to assess a company’s efficiency at allocating the capital under its control to profitable investments. The return on invested capital ratio gives a sense of how well a company is using its capital to generate profits.[/bg_collapse]