Word count: 2251 Background: Agency theory (Jensen & Meckling 1976) has provided useful insight into the financial dealings between an enterprise (principal) and its stakeholders (agents). It is unlikely that the economic interests of these parties will be exactly the same because it is human nature to maximise one’s own benefit even at the expense of others. (Peacock‚ p278) Question: Explain how agency theory may be applied in explaining the relationship between small business and a financial institution
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Philippine Local Government Taxation Local government units‚ by virtue of the 1987 Constitution and the Local Government Code of 1991‚ otherwise known as Republic Act 7160 have been given the power to raise certain taxes. Power to Create Sources of Revenue (Sec. 129) • Each local government unit (LGU) has thepower to create its own sources of revenue and to levy taxes‚ fees‚ and charges • The grant of power to create sources of revenue is consistent with the basic policy of local autonomy
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Year Publish: 1999 Place of Publication: NDCP (National Defense College of the Philppines) Author: SALINDONG‚ CORAZON G Title: The Role of Local Government Units in National Security Administration ABSTRACT: The objective of this study was to determine the extent of awareness of Local Chief Executives (LCEs) concerning their tasks and responsibilities in promoting the welfare and well being of their people and in preserving territorial integrity. Actual situations and constraints were studied
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to what effect did local government intervene to ameliorate the adverse effects of industrialisation on the populations of towns and cities? Towns and Cities in the nineteenth century grew extremely quickly as vast numbers of people congregated in urban environment’s which were created as a response to rapid industrialisation‚ this developed problems such as poor public health. The problems that became apparent had to be dealt with and this gave rise to local governments being set up to deal
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THE LOCAL GOVERNMENT CODE OF THE PHILIPPINES BOOK II LOCAL TAXATION AND FISCAL MATTERS TITLE ONE. – LOCAL GOVERNMENT TAXATION CHAPTER 1. – GENERAL PROVISIONS SECTION 128. Scope − The provision herein shall govern the exercise by provinces‚ cities‚ municipalities‚ and Barangays of their taxing and other revenue−raising powers. SECTION 129. Power to Create Source of Revenue − Each local government unit shall exercise its power to create its own sources of revenue and to levy taxes‚ fees‚ and
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1. Evaluate the view that democracy is the only legitimate form of government A legitimate state can be defined as “A state in which its citizens have little or no significant resistance to the public policy and leadership of the state in question due to the rightful/legitimate exercise of power.” This Legitimacy of state is often a hard term to apply to any form of government in the modern political world due to the very differing cultures between the western and eastern world. However the
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The Pompeian’s government was a democratic system. Citizens voted in their members. There were four levels of government- Electoral assembly (comitium)‚ town council (curia)‚ chief magistrates (duumviri) and magistrates (aediles). These parties were elected in through different means and for different purposes. The electoral assembly was voted in by the Roman citizens of Pompeii. Those elected were then in charge of electing the duumviri and aediles. The town council was made up prominent citizens
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State and Local Government Paper POL/215 University of Phoenix January 15‚ 2006 Introduction The city of Fountain‚ Colorado is a full service municipality. Within the city‚ several actively responsive city boards see to the needs of the community and plan for the city’s future growth. One such board is the City Council‚ which holds regularly scheduled meetings on the 2nd and 4th Tuesday of every month. Each meeting follows the same basic structure and allows for input from local citizens
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GENERAL INTRODUCTION | This volume is submitted to assist Congress in the review and deliberation of the proposed national budget for the legislation of the annual appropriations measures for the next fiscal year. It contains the details of the government’s proposed program and is presented into two parts‚ namely: Part I – National Government Budget‚ and Part II - Budgets of the three (3) Energy Corporations. | The FY 2008 Budget Program | The total proposed expenditure program for FY 2008
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The local government debt Abstract: As China’s economy has increasingly grown at an incredible high speed about average 9.8% gain every year before the 2008 financial‚ and china has became the world second-largest economy. Local government plays an important role in keeping such a rapid growth through the large amount of investment. However‚ the local government debt has increased substantially‚ following the growth of total economy. And the problems and potential troubles brought by the local
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