PUBLIC FINANCE

Similarities and Difference between Public and Private Finance

Public finance is the study of income, expenditure, borrowing and financial administration of the government. Private finance on the other hand is the study of the income, expenditure, borrowing and financial administration of the individuals and private firms. Similarities between Public and Private Finance Objectives: Both public and private finance aims at the satisfaction human …

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Public Enterprise | Definition & Characteristics

Public enterprise is an agency of government through which the government manages its commercial and economic activities. According to a United Nations publication, “by public enterprise is meant economic undertaking especially industrial, agricultural or commercial concerns, which are owned (wholly or in part) and controlled by the state. According to A.H Hansen, “public enterprise means …

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Canons of Taxation

These are the necessary principles or attributes which a good tax system should adhere to as to achieve its objectives. Canon of Equality: The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities. This implies in absolute term, the richer should …

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