Marshalling of balance sheet means: ?->(Show Answer!)

1. Marshalling of balance sheet means:

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MCQ-> Crinoline and croquet are out. As yet, no political activists have thrown themselves in front of the royal horse on Derby Day. Even so, some historians can spot the parallels. It is a time of rapid technological change. It is a period when the dominance of the world’s superpower is coming under threat. It is an epoch when prosperity masks underlying economic strain. And, crucially, it is a time when policy-makers are confident that all is for the best in the best of all possible worlds. Welcome to the Edwardian Summer of the second age of globalisation. Spare a moment to take stock of what’s been happening in the past few months. Let’s start with the oil price, which has rocketed to more than $65 a barrel, more than double its level 18 months ago. The accepted wisdom is that we shouldn’t worry our little heads about that, because the incentives are there for business to build new production and refining capacity, which will effortlessly bring demand and supply back into balance and bring crude prices back to $25 a barrel. As Tommy Cooper used to say, ‘just like that’. Then there is the result of the French referendum on the European Constitution, seen as thick-headed luddites railing vainly against the modern world. What the French needed to realise, the argument went, was that there was no alternative to the reforms that would make the country more flexible, more competitive, more dynamic. Just the sort of reforms that allowed Gate Gourmet to sack hundreds of its staff at Heathrow after the sort of ultimatum that used to be handed out by Victorian mill owners. An alternative way of looking at the French “non” is that our neighbours translate “flexibility” as “you’re fired”. Finally, take a squint at the United States. Just like Britain a century ago, a period of unquestioned superiority is drawing to a close. China is still a long way from matching America’s wealth, but it is growing at a stupendous rate and economic strength brings geo-political clout. Already, there is evidence of a new scramble for Africa as Washington and Beijing compete for oil stocks. Moreover, beneath the surface of the US economy, all is not well. Growth looks healthy enough, but the competition from China and elsewhere has meant the world’s biggest economy now imports far more than it exports. The US is living beyond its means, but in this time of studied complacency a current account deficit worth 6 percent of gross domestic product is seen as a sign of strength, not weakness. In this new Edwardian summer, comfort is taken from the fact that dearer oil has not had the savage inflationary consequences of 1973-74, when a fourfold increase in the cost of crude brought an abrupt end to a postwar boom that had gone on uninterrupted for a quarter of a century. True, the cost of living has been affected by higher transport costs, but we are talking of inflation at b)3 per cent and not 27 per cent. Yet the idea that higher oil prices are of little consequence is fanciful. If people are paying more to fill up their cars it leaves them with less to spend on everything else, but there is a reluctance to consume less. In the 1970s unions were strong and able to negotiate large, compensatory pay deals that served to intensify inflationary pressure. In 2005, that avenue is pretty much closed off, but the abolition of all the controls on credit that existed in the 1970s means that households are invited to borrow more rather than consume less. The knock-on effects of higher oil prices are thus felt in different ways – through high levels of indebtedness, in inflated asset prices, and in balance of payments deficits.There are those who point out, rightly, that modern industrial capitalism has proved mightily resilient these past 250 years, and that a sign of the enduring strength of the system has been the way it apparently shrugged off everything – a stock market crash, 9/11, rising oil prices – that have been thrown at it in the half decade since the millennium. Even so, there are at least three reasons for concern. First, we have been here before. In terms of political economy, the first era of globalisation mirrored our own. There was a belief in unfettered capital flows, in free trade, and in the power of the market. It was a time of massive income inequality and unprecedented migration. Eventually, though, there was a backlash, manifested in a struggle between free traders and protectionists, and in rising labour militancy. Second, the world is traditionally at its most fragile at times when the global balance of power is in flux. By the end of the nineteenth century, Britain’s role as the hegemonic power was being challenged by the rise of the United States, Germany, and Japan while the Ottoman and Hapsburg empires were clearly in rapid decline. Looking ahead from 2005, it is clear that over the next two or three decades, both China and India – which together account for half the world’s population – will flex their muscles. Finally, there is the question of what rising oil prices tell us. The emergence of China and India means global demand for crude is likely to remain high at a time when experts say production is about to top out. If supply constraints start to bite, any declines in the price are likely to be short-term cyclical affairs punctuating a long upward trend.By the expression ‘Edwardian Summer’, the author refers to a period in which there is
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MCQ-> The teaching and transmission of North Indian classical music is, and long has been, achieved by largely oral means. The raga and its structure, the often breathtaking intricacies of talc, or rhythm, and the incarnation of raga and tala as bandish or composition, are passed thus, between guru and shishya by word of mouth and direct demonstration, with no printed sheet of notated music, as it were, acting as a go-between. Saussure’s conception of language as a communication between addresser and addressee is given, in this model, a further instance, and a new, exotic complexity and glamour.These days, especially with the middle class having entered the domain of classical music and playing not a small part ensuring the continuation of this ancient tradition, the tape recorder serves as a handy technological slave and preserves, from oblivion, the vanishing, elusive moment of oral transmission. Hoary gurus, too, have seen the advantage of this device, and increasingly use it as an aid to instructing their pupils; in place of the shawls and other traditional objects that used to pass from shishya to guru in the past, as a token of the regard of the former for the latter, it is not unusual, today, to see cassettes changing hands.Part of my education in North Indian classical music was conducted via this rather ugly but beneficial rectangle of plastic, which I carried with me to England when I was a undergraduate. Once cassette had stored in it various talas played upon the tabla, at various tempos, by my music teacher’s brother-in law, Hazarilalii, who was a teacher of Kathak dance, as well as a singer and a tabla player. This was a work of great patience and prescience, a one-and-a-half hour performance without my immediate point or purpose, but intended for some delayed future moment who I’d practise the talas solitarily.This repeated playing our of the rhythmic cycles on the tabla was inflected by the noises-an hate auto driver blowing a horn; the sound bf overbearing pigeons that were such a nuisance on the banister; even the cry of a kulfi seller in summer —entering from the balcony of the third foot flat we occupied in those days, in a lane in a Bombay suburb, before we left the city for good. These sounds, in turn, would invade, hesitantly, the ebb and flow of silence inside the artificially heated room, in a borough of West London, in which I used to live as an undergraduate. There, in the trapped dust, silence and heat, the theka of the tabla, qualified by the imminent but intermittent presence of the Bombay subrub, would come to life again. A few years later, the tabla and, in the background, the pigeons and the itinerant kulfi seller, would inhabit a small graduate room in Oxford.cThe tape recorder, though, remains an extension of the oral transmission of music, rather than a replacement of it. And the oral transmission of North Indian classical music remains, almost uniquely, testament to the fact that the human brain can absorb, remember and reproduces structures of great complexity and sophistication without the help of the hieroglyph or written mark or a system of notation. I remember my surprise on discovering the Hazarilalji- who had mastered Kathak dance, tala and North Indian classical music, and who used to narrate to me, occasionally, compositions meant for dance that were grant and intricate in their verbal prosody, architecture and rhythmic complexity- was near illustrate and had barely learnt to write his name in large and clumsy letters.Of course, attempts have been made, throughout the 20th century, to formally codify and even notate this music, and institutions set up and degrees created, specifically to educate students in this “scientific” and codified manner. Paradoxically, however, this style of teaching has produced no noteworthy student or performer; the most creative musicians still emerge from the guru-shishya relationship, their understanding of music developed by oral communication.The fact that North Indian classical music emanates from, and has evolved through, oral culture, means that this music has a significantly different aesthetic, aw that this aesthetic has a different politics, from that of Western classical music) A piece of music in the Western tradition, at least in its most characteristic and popular conception, originates in its composer, and the connection between the two, between composer and the piece of music, is relatively unambiguous precisely because the composer writes down, in notation, his composition, as a poet might write down and publish his poem. However far the printed sheet of notated music might travel thus from the composer, it still remains his property; and the notion of property remains at the heart of the Western conception of “genius”, which derives from the Latin gignere or ‘to beget’.The genius in Western classical music is, then, the originator, begetter and owner of his work the printed, notated sheet testifying to his authority over his product and his power, not only of expression or imagination, but of origination. The conductor is a custodian and guardian of this property. IS it an accident that Mandelstam, in his notebooks, compares — celebratorily—the conductor’s baton to a policeman’s, saying all the music of the orchestra lies mute within it, waiting for its first movement to release it into the auditorium?The raga — transmitted through oral means — is, in a sense, no one’s property; it is not easy to pin down its source, or to know exactly where its provenance or origin lies. Unlike the Western classical tradition, where the composer begets his piece, notates it and stamps it with his ownership and remains, in effect, larger than, or the father of, his work, in the North India classical tradition, the raga — unconfined to a single incarnation, composer or performer — remains necessarily greater than the artiste who invokes it.This leads to a very different politics of interpretation and valuation, to an aesthetic that privileges the evanescent moment of performance and invocation over the controlling authority of genius and the permanent record. It is a tradition, thus, that would appear to value the performer, as medium, more highly than the composer who presumes to originate what, effectively, cannot be originated in a single person — because the raga is the inheritance of a culture.The author’s contention that the notion of property lies at the heart of the Western conception of genius is best indicated by which one of the following?
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MCQ-> In the following some of the combinations of operations and an operand A: means ‘÷3’ B: means ‘x3’ C: means ‘-3’ D: means ‘+3’ E: means ‘÷2’ F: means ‘x2’ G: means ‘-2’ H: means ‘+2’42x21-12 ?=880
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MCQ->Assertion (A) : Balance of payment always balance. Reason (R) : Debit (payments) must always equal credits (receipts) in balance of payment account.....