Existing Goods
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...Barter System is that system in which goods are exchanged for goods. In ancient times when money was not invented trade as a whole was on barter system. This was possible only in a simple economy but after the development of economy, direct exchange of goods without the use of money, was not without defects. There were various defects in this system. These were the following; 1. Double Coincidence.... More >>
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...Objectives of Business means the purpose for which the business is established. It is generally believed that the main objective of business is ta make profit and avoid loss. We do admit that profit is a driving force in undertaking any business activity but it is not the sole objective of any business. In the words of Urwick “earning of profit cannot be objective of a business any more than eat.... More >>
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...1. Money as a Medium of Exchange:The function of money as a medium of exchange solves all the difficulties of barter system. There is no necessity for a double coincidence of wants in the money economy. The man with cow who wants to purchase cloth need not seek a cloth seller who wants a cow. He can sell his cow in the market for money and then purchase cloth with the money obtained. 2. Money as M.... More >>
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Importance of business in the present day world
...The importance of business is that it provides products or services to customers. These products or services in the present day world are provided by entrepreneurswho organize, manage and assume the risk of starting businesses mainly for earning profit. Business makes the best possible use of scarce resources such as men, machines and materials for the production of goods. The importance of busine.... More >>
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...Bill of ExchangeA bill of exchange is playing an important part in the commercial life of the country. The need for it arises where the buyer Purchase goods needs a period of credit before paying it. It is drawn by the creditor and is accepted by the debtor.According to F.W. Muller, a bill of exchange is an unconditional order in writing addressed by one person to another, signed by the person giv.... More >>
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Business organization nature and scope
...Meaning of Business OrganizationBusiness organization is composed of two words, business and organization. In order to understand the nature of business organization, it is necessary that the meaning of these two words is made clear to the readers.(1) BusinessBusiness is a human economic activity. It involves continuous and regular production and distribution of goods and services with a view to e.... More >>
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Salient features or characteristics of partnership
...Definitions of Partnership. A partnership is an association of two at more persons to carry on as co owners of a business and to share its profits and losses. Section 4 of the Partnership Act defines partnership as “the relation between persons who have agreed to share the profits of a business carried on by all or any one of them acting for all.” ‘Persons who have entered into partnership w.... More >>
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Quantity theory of money by irving fisher
...TRANSACT APPROACHIrving Fisher an American economist, put forward the Cash Transaction Approach to the quantity theory of money. He in his book The Purchasing Power of Money (1911) has stated that the value of money in a given period of time depends upon the quant t money in circulation in the economy It is the quantity of money which determines t general price level and the value of money Any cha.... More >>
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Factors affecting working capital
...The working capital requirements of a business depends upon a number of ‘factors which in brief are as under:-(1) Nature of the business. The working capital requirements of an enterprise basically depends upon the nature of its business and operating cycle of the business. A trading concern, for instance, requires large amount of working capital for investment in stocks, receivables and cash et.... More >>
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10 most overlooked tax deductions
...Through deductions, American wage earners have the chance to pocket more income, rather than hand over their hard-earned cash to the government. For those who keep good records, deductions can mean more money - and less for the IRS. You probably know the most common deductions, such as deductions for property taxes and charitable donations, but there are related deductions you might be overlooking.... More >>
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Phpbb customization and phpbb application development
...own internet forum created using PHP language. PHPBB is an influential gizmo that helps in creation of custom planned profile fields and generate custom defined Bulletin board. PHPBB is free software existing for GNU General public License. PHPBB carries highly developed interactive features.PHPBB customization & PHPBB application development finest assured service as the task demands profession.... More >>
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Mutual duties rights and liabilities of partners in the absence of partnership agreement
...The duties, rights and liabilities of partners in the conduct and management of the affairs of the partnership are contained in its partnership deed. However, if on any point, the deed is silent, then the relevant rule of the Partnership Act, 1932, will apply. In the absence of a written partnership agreement, the mutual rights and duties of partners shall be governed by the Partnership Act which .... More >>
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...KINDS OF INFLATIONInflation is of different types. It is generally classified on the following basis:(1) On the Basis of Rate of inflationInflation on this basis is grouped as (i) Creeping inflation (ii) Walking inflation (iii) Running inflation and (iv) Hyper inflation.(i) Creeping inflation. is a situation in which the rise in general price level is at a very slow rate over a period of time. Und.... More >>
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Role of commercial banks in the economic development of a country
...Commercial banks play an important and active role in the economic development of a country. If the banking system in a country is effective’, efficient and disciplined, it brings about a rapid growth in the various sectors of the economy. The economic significance of commercial banks is given in brief.(1) Banks promote capital formation. The commercial banks play an important role in rising of .... More >>
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One man control is best in the world
...gh to manage everything does not seem to be feasible. The sole trading business is confined now to small scale sector.Suitability of sole proprietorshipThe sole proprietorship from of organization is existing and competing quite successfully with other forms of organizations like partnership, Joint Stock Company. There are many reasons for it. Sole proprietorship is the most ancient form of busine.... More >>
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...REMEDIES OF INFLATIONThe first panacea for a mismanagement nation is inflation of the currency. The second is war. Both bring a permanent ruin. They both are the refuge of political and economic opportunists. (Ernest Hemigway). To avoid political unrest and harmful, social and economic effects on the economy, it is the main objective of every government to take appropriate measures to control infl.... More >>
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Cash balance approach to the quantity
...THEORY OF MONEYThe cash balance approach to the quantity theory of money was developed by a group of Cambridge economists in England which included Alfred, Marshall, AC. Pigou, Robertson and J. M. Keynes’ The approach of Cambridge economists to the quantity theory of n differs significantly from the Fisher’s approach. Fisher’s approach was based on the medium of exchange function of money. T.... More >>
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Keynesian theory of business cycles
...f the view that upswing of business cycle is caused by a rise in the marginal efficiency of capital. When the entrepreneurs find that the opportunities for profitable investment exist they repair the existing plants and install the new ones. The money spent by the investors goes into the pockets of wage earners. They then increase their orders of consumption goods. The total receipts of the entrep.... More >>
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...What is business cycle?A business cycle ‘is a short term picture of the behavior of real output in a private enterprise economy Business cycle refers to upturn and downturn in the level of economic activity that extends over a period of time’. The business fluctuations occur in aggregate variable such as national income, employment and price level. The variables nearly move at the same time an.... More >>
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...Meaning of exchange control.Broadly speaking, exchange control refers to a government’s inter in the foreign exchange market. In other words, it means legal restrictions on the business involving foreign exchange and its sale and purchase in the national market. It is government domination in the foreign exchange market. In the words of Haberler, “Exchange control is the state regulation exclu.... More >>
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