The name of Scotland is derived from the LatinScoti, the term applied to Gaels. The origin of the word Scoti (or Scotti) is uncertain. It is found in Latin texts from the 4th century describing a tribe which sailed from Ireland to raid Roman Britain. It came to be applied to all the Gaels. It is not believed that any Gaelic groups called themselves Scoti in ancient times, except when writing in Latin.Old Irish documents use the term Scot (pluralScuit) going back as far as the 9th century, for example in the glossary of Cormac úa Cuilennáin.
Oman derives it from Scuit; a man cut off, suggesting that a Scuit was not a Gael as such but one of a renegade band settled in the part of Ulster which became the kingdom of Dál Riata.
The ship was 139feet 6inches (42.52m), with a beam of 28feet 9inches (8.76m). She had a draught of 15feet 6inches (4.72m). The ship was assessed at 375GRT.
Hekla was built as a barque in 1872 by Jørgensen & Knudsen, Drammen for S. S. Svendsen of Sandefjord. She was used as a sealer, making voyages to the east coast of Greenland from 1872–82 and to Scoresby Sound in 1892. In 1896, she was sold to N. Bugge, Tønsberg. She was sold in 1898 to A/S Sæl- og Hvalfangerskib Hekla, Christiania and was placed under the management of M. C. Tvethe. Hekla was sold in 1900 to A/S Hecla, Sandefjord, operated under the management of Anders Marcussen.
Bruce had spent most of the 1890s engaged on expeditions to the Antarctic and Arctic regions, and by 1899 was Britain's most experienced polar scientist. In March of that year, he applied to join the Discovery Expedition; however, his proposal to extend that expedition's field of work into the Weddell Sea quadrant, using a second ship, was dismissed as "mischievous rivalry" by Royal Geographical Society (RGS) president Sir Clements Markham. Bruce reacted by obtaining independent finance; his venture was supported and promoted by the Royal Scottish Geographical Society.
In double entry bookkeeping, debits and credits (abbreviated Dr and Cr, respectively) are entries made in accountledgers to record changes in value resulting from business transactions. Generally speaking, the source account for the transaction is credited (that is, an entry is made on the right side of the account's ledger) and the destination account is debited (that is, an entry is made on the left side). Total debits must equal total credits for each transaction; individual transactions may require multiple debit and credit entries to record.
The difference between the total debits and total credits in a single account is the account's balance. If debits exceed credits, the account has a debit balance; if credits exceed debits, the account has a credit balance. For the company as a whole, the totals of debit balances and credit balances must be equal as shown in the trial balance report, otherwise an error has occurred.
Credit (from Latincredit, "(he/she/it) believes") is the trust which allows one party to provide money or resources to another party where that second party does not reimburse the first party immediately (thereby generating a debt), but instead arranges either to repay or return those resources (or other materials of equal value) at a later date. The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower.
Credit does not necessarily require money. The credit concept can be applied in barter economies as well, based on the direct exchange of goods and services. However, in modern societies, credit is usually denominated by a unit of account. Unlike money, credit itself cannot act as a unit of account.
Movements of financial capital are normally dependent on either credit or equity transfers. Credit is in turn dependent on the reputation or creditworthiness of the entity which takes responsibility for the funds. Credit is also traded in financial markets. The purest form is the credit default swap market, which is essentially a traded market in credit insurance. A credit default swap represents the price at which two parties exchange this risk–the protection seller takes the risk of default of the credit in return for a payment, commonly denoted in basis points (one basis point is 1/100 of a percent) of the notional amount to be referenced, while the protection buyer pays this premium and in the case of default of the underlying (a loan, bond or other receivable), delivers this receivable to the protection seller and receives from the seller the par amount (that is, is made whole).