FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Globalisation is the process by which businesses or other organizations develop
international influence or start operating on an international scale.

) 3 regulatory bodies were set up in the United Kingdom as a fallout of the financial
crisis in 2008. Briefly explain the role of
i) Financial Policy Committee 

 Prudential Regulatory Authority 

 Financial Conduct Authority 

 

Expert Solution
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Step 1: Define Financial Crisis:

A financial crisis describes a time of extreme disruption in a country's or perhaps the world's financial system. It is characterized by a breakdown in faith and confidence in financial markets and institutions, which frequently results in a significant decrease in the value of assets such as stocks and real estate. Bank failures, credit shortages, economic recessions, and even depressions can all result from financial crises. 

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