History Of Income Tax Law
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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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...Defination of Fiscal Policy:Fiscal policy is an additional method to determine public revenue and public expenditure. In the recent years importance of fiscal policy has increased due to economic fluctuations. Fiscal policy is an important instrument in the modern time. According to Arther Simithies fiscal policy is a policy under which government uses its expenditure and revenue programme to prod.... 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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Ideal solution for credit shortage
...rtant feature that the lending agencies do not verify credit performance of the loan seekers when they review the loan application. They do not treat differentially between people with healthy credit history and those with weak credit status. Instant payday loans no credit rating check can be accessed within the range from 100 to 1,500. It is important that the borrowers must be earning and that .... More >>
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Cash in advance loan know about cash loans fast
...Quick loans which are being termed as the cash loan fast or the short term loans has gained immense importance. In case of financial crunch when you cannot get a bank loan or can no more use your credit cards, then bank on the quick loans to fix your financial necessities. As a matter of fact the cash in advance loan stand as the instant loans and these loans are given in cash which is ideall.... 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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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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...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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...blished by Neeraj Publications could be extremely helpful in solving these IGNOU Assignments for Various IGNOU Courses like BCA, MCA, MBA, B.COM, B.Ed., MA English, MA Hindi, MA Political Science, MA History, MA Public Administration, MA Sociology, M.Com, BJMC, BBA, B.Sc , PGDBM Etc. Neeraj IGNOU Books published by Neeraj Publications have Chapter / Unit wise Explanation both in Text (Theory).... More >>
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One man control is best in the world
...What is Meant By One Man Control? One man control or one man business (also called sole proprietorship) is the simplest form of business organization. The description ‘One man business’ or ‘one man control’ is sometimes con as misleading one, as there may be more than one persons working as employees in the business. The essential condition of one man control or one man business is that it.... 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
...KEYNESIAN THEORY OF BUSINESS CYCLESKeynes response to classical theory of trade cycle. The keynes theory of business fluctuations was developed during the Great Depression of the 1930 s It was in response to the classical theory that the economy is self correcting. The classical economists were of the view that if at any time excessive unemployment occurs in the economy market forces automatically.... 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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... ADVANTAGES OF AUDITING We can divide the advantages of audit into the following main heads. 1. TO THE GOVERNMENT 2. TO BUSINESS a. TO SOLE PROPRIETOR SHIP. b. TO PARTNERSHIP. c. TO COMPANY. 3. TO PUBLIC 1. TO THE GOVERNMENT The following are the main advantages that a government has received from auditing. A. ASSESSMENT OF TAXES If a business is audited, the tax author.... More >>
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Functions of state bank of pakistan
...The functions of State Bank of Pakistan are governed by the State Bank of Pakistan Act, 1956. In order to discharge its duties efficiently and successfully some of the functions which involved public dealing have been transferred to State Bank of Pakistan Banking Services Corporation from Jan., 2, 2002. The State Bank of Pakistan will continue performing its four basic functions (i) Framing and op.... More >>
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Multiplier and accelerator theory
...MULTIPLIER AND ACCELERATOR THEORYThe Keynesians, have offered a demand side explanation of the business cycle. According to them, the fluctuations in output and employment in the country are caused by fluctuations in aggregate demand. The ups and downs in aggregate demand are caused by changes in the volume of investment. The volume of investment is directly related to the marginal efficiency of c.... More >>
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Mint par parity theory of exchange rate
...MINT PAR PARITY THEORY OF EXCHANGE RATEORDETERMINATION OF RATE OF EXCHANGE UNDER GOLD STANDARDWhat is mint parity theory?Mint parity theory explains the determination of exchange rate between the two countries which are on gold standard. In a country which is on gold standard, the currency is either made of gold or is convertible into gold at a fixed rate. There are also no restrictions on the exp.... More >>
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Stages in development of money
...1. Evolution of MoneyThroughout the history of civilization money has passed through different stages Historically the development of money in the present form has evolved through the following stages.(i) Commodity money(ii) Convertible paper money(iii) Fiat money and(iv) Deposit money. These stages are discussed in brief below1. Commodity Money The earliest money which came into use and was acce.... More >>
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