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Objectives of business
...ot a business activity.(ii) Creating Markets Every business tries to create customers for its products and services. The more the customers are treated, the wider will be the market for the goods and larger the profit.(iii) Technological Improvements The business, if it is to stay in, the market, must offset stagnation by using efficient methods of production. The creation of new products, new des.... 
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Barter system
...e of Value:Wealth cannot be easily stored for future use in the form of commodities because they perish in the long run. In the modern economy barter system cannot succeed. Money is indispensable for large scale production. The functions of money are the same which were defects in barter system. Its functions in modern economy are: a) Money is a matter of functions fourb) A medium, a measure, a st.... Read
Fiscal policy
...ble degree. Fiscal policy can achieve equality in distribution of income. 5. Increase in capital formation:In under-developed countries deficiency of capital is the main reason for under-development. Large amounts are required for industry and economic development. Fiscal policy can divert resources and increase capital.6. Degree of inflation:In under-developed countries, a degree of inflation is .... Read
Sole proprietorship and its characteristics
...kery, hardware stores, service stations, barbers shop, doctor’s clinic, service stations, beauty parlours, etc. are examples of sole proprietorship.One man business is usually small but it can be a large as a steel mill or a departmental store depending upon the resources available to the entrepreneur. Definitions of Sole ProprietorshipDefinitions of Sole Proprietorship Some of the important def.... Read
Kinds of partners
...Types of Partners The partners of a firm are broadly divided into three main categories. (1) General Partners.(2) Special Partners. (3) Other Partners.(1) General PartnersBasically all the partners of a firm are general partners. General partners we those whose liability is unlimited in the f General partners are of two types (a) Active partner, and (b) Sleeping partner. (a) Active Partner A partn.... Read
Importance of business in the present day world
...utomation have increased the incomes of those who are directly or indirectly engaged in business. Higher incomes have led to the increase in the standard of living of the people. Business also pays a large share of taxes to a government 5. Creation of customers The business of today is creating markets for its customers alL over the world by introducing new products, new methods of distribution su.... Read
Memorandum of association
...The first thing in the formation of a Joint Stock Company is the preparation of the Memorandum Of Association. It is a document which sets out the constitution of the company and as such, is really the foundation on which the structure of the company rests. That is why Memorandum Of Association has often been called the charter of the company in its relation to this outside world. The promoters of.... Read
Ignou bed admission 2011
...IGNOU has structured its B.Ed 2011 especially for students to make them experiences and strengthen the professional competencies of in-service teachers. To imbibe knowledge and develop an understanding of the various methods and approaches of organizing learning experiences of secondary school students. To develop skills required in selecting and organising learning experiences. To understand.... Read
Salient features or characteristics of partnership
...ship are not sufficient to meet its obligations, then the creditors may those to sue any one or all of the partners to satisfy the debt. This poses a serious handicap for the individual partners with large personal assets. He may be compelled to pay the entire debt of the partnership from his personal assets.6. Duration The partnership is a temporary form of business ownership. It operates at the .... Read
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.... Read
Merits and demerits of partnership form of organization
...rtnership enjoys a better credit rating in the eyes of creditors. As the liability of each partner in the organization is unlimited the financial institution can safely advance loans to the firms. 3. Large Capital In case of sole proprietorship, the capital is limited to the savings of one owner or his borrowing capacity. Partnership can bring more capital to the business by the joint efforts of t.... Read
New hero honda bike price list 2011
...d a good name in the Indian market. The Hunk is a good looking bike with all the elements of a handsome bike. This is a 150cc bike available with stunning colors. The design is aerodynamic and has large fuel tank. It comes with 5 spoke black alloy wheels and has a self start and kick start option. The engine delivers a power of 14.2 HBP @ 8500 RPM and a torque of 12.80 N-m @ low rpm of 6500..... Read
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 .... Read
Partnership agreement deed
...What is Partnership Deed? Partnership agreement in writing is called partnership deed. Partnership deed is a document which is signed by all the partners and which contains all the matters determining and governing the mutual rights, duties and liabilities of the partners in the conduct and management of the affairs of the partnership. It may also be referred to as articles of partnership” conta.... Read
One man control is best in the world
... by one person, managed and operated for one’s own profit. Statute of One Ban BusinessThe one man business’ was the earliest to be developed. It is even today, the most common and numerically the largest form of business ownership in the developed and underdeveloped countries of the world. It represents about more than 74% of all the business firms. However the share of sole proprietorship in .... Read
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 .... Read
Merchant banks
...Merchant Banks term is very widely used in Europe and refers to their origin as mercantile houses specializing in the export of British products, particularly cotton cloth, and the import of any products of the countries where they were established. This involved remitting money from one country to another, and the bill of exchange on London becomes the means of financing the import and export tra.... Read
Sources of bank funds
...s.Bank’s borrowing is mostly in the form of deposits. Bank collects three kinds of deposits from its customers (1) current or demand deposits (2) saving deposits and (3) fixed or time deposits. The larger the deposits of bank, the larger will be its (use) fund for employment and so higher are its profit.1. Borrowing from central bank. The commercial banks in times of emergency borrow loans from .... Read
Importance of money market
...IMPORTANCE OF MONEY MARKETIf the money market is well developed and broad based in a country, it greatly helps in the economic development of a country. The central bank can use its monetary policy effectively and can bring desired changes in the economy for the industrial and commercial progress in the country. The importance of money market is given, in brief, as under:(i) Financing Industry: A .... Read
Laptops on finance no deposit for bad creditors
... malls, hospitals, companies, and firms etc. Financing a laptop is much affordable for good creditors but bad creditors have to face slightly complication for the loan approval. Now, in the market, a large variety of loans are available for the convenience of needy people. In the same way, no credit laptop finance is present in UK. Laptop on finance offers a fantastic opportunity to the bad credit.... Read
