Finance and financial system

Ex 3. Form derivatives with the following words (some of derivatives you can find in the text)

 

implement                               maintain                        spend

allocate                                   insure                            estimate

fund                                        govern                           transfer

 

 

Ex 4. Define whether the statements below are true or false:

 

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  .   The budget is an estimate of national revenue and expenditure.
  
• 
      Budget revenues don’t include tax and not tax revenues.
  
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  .   Accurate budget evaluation is more necessary now than ever before.
  
  
  
• 
  .   Anything can serve as money that is easily recognized, widely accepted  and not easily copied.
  
  
  
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  .   Gold, shells and pelts (шкура, тери) are used as money in the majority   of countries.
  
  
  
• 
  .   Revenue and expenditure forecasting is not the most fundamental step  in the process of budget preparation.
  
  
  
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     Finance in an economic system comprises two parts: public finance and   finance of economic entities.
  
  
  
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     The budget is the key instrument for expression and execution of the   government’s economic policy.
  
• 
   
  
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