EXCHEQUERS Meaning and
Definition
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The term "exchequers" refers to a plural form of the noun "exchequer." In general, "exchequers" is predominantly used in a historical context to describe fiscal departments or treasury officials responsible for managing public finances and revenue collection.
An exchequer, often associated with national governments, denotes a financial institution or administrative body overseeing the monetary affairs of a state or kingdom. It typically involves monitoring, regulating, and accounting for revenues, taxes, and public spending. The exchequer primarily focuses on revenue collection from various sources, such as customs duties, land taxes, and other financial levies, ensuring effective income streams for the government.
Historically, the exchequer system originated in medieval England and was instrumental in streamlining financial transactions and maintaining fiscal discipline. The exchequer would record and audit payments and receipts, utilizing a checkered cloth as a checkered board for calculations, earning its "exchequer" name.
The term "exchequers" can also refer to the officials or personnel operating within an exchequer system. These individuals would execute multiple financial tasks like tax collection, issuance of financial instruments, and carrying out audits to ensure transparent management of public funds. In modern times, while the term "exchequer" is still occasionally used in the United Kingdom and some Commonwealth countries, its primary function has been absorbed by other contemporary financial institutions and government sectors responsible for revenue and expenditure management.
Common Misspellings for EXCHEQUERS
Etymology of EXCHEQUERS
The word "exchequers" is derived from the word "exchequer". The term "exchequer" itself originated from the Old French word "eschequier", which was borrowed from the Medieval Latin term "scaccarium". This Latin word, in turn, comes from "scaccus", the medieval Latin variant of the Old Persian word "chakrā" meaning "chessboard". The term "exchequer" was originally used to refer to the cloth-covered table or board resembling a chessboard, which was used by the Norman and early Plantagenet kings of England as a ledger for calculations and accounts. Over time, "exchequer" came to be associated with the royal treasury and financial administration of England and subsequently gave rise to the plural form "exchequers" to denote multiple treasuries or financial departments.
Similar spelling word for EXCHEQUERS
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