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Q: What are the six elements of financial system including their interrelationship?
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What are the elements of financial system?

The main elements of Financial System are as follows:MoneyFinancial MarketsFinancial InstitutionsFinancial InstrumentsCentral Banks


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One of the main elements of the financial system in the Philippines is financial claims. Other main elements are financial institutions, financial markets, government agencies, and law and policies.


What is purpose of standards?

A standardized accounting system has predictable elements and structure. A standard system produces financial statements that make it easy (at least possible) to compare results for businesses within the same industry. And, since the structural elements are the same across the board, once you understand the financial elements of the system, it is possible to understand any financial statements for any industry.


Do the basic elements of financial accounting apply to all businesses?

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An interrelationship is a connection between multiple people or groups or parts of a system among other people. The two companies join together to help each other bring in more business.


What are the nature of the financial system?

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What are the key components of the financial system?

There are majorly 2 components of financial system one is formal financial system and another one is informal financial system. under the formal financial system there are 4 components 1)Financial Intermediaries 2)Financial Markets 3)Regulators 4)financial instruments in informal financial system neighbours ,relatives,landlords,local trader are there


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Is government a financial system?

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