Varun Reddy Country Club
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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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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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...Types of chequesThe cheques are of two types. (i) Open cheques and (ii) crossed cheques.(i) Open Cheques. Open cheques are those cheques which are paid across the counter of the bank. Open cheques may be bearer or order cheques.(a) Bearer cheques. If a drawer orders the bank to pay a stated sum of money to the bearer it is called a bearer cheque. Any person who lawfully possesses a beaker cheque i.... 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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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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...The way the currency of a country is issued, managed and regulated called the monetary system of the country. Monetary standards may be of different kinds. 1. Monometallism:If one metal is the ultimate measure of value in the country standard will be metallic. If one metal is the standard that monometallism. If that metal is gold it will be called gold standard similarly if that is silver it will .... More >>
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...The use of deficit financing to maintain total spending or effective demand was an important discovery of the economic depression of 1930. Today it is a major instrument in the bands of government to ensure high levels of economic activity. The definition of deficit financing is likely to vary with the purpose for which such a definition is needed. In one sense by deficit financing we mean the exc.... 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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...SOURCES OF BANK FUNDSA bank is a business firm. Its main aim is to earn profit. In order to achieve this objective it provides services to the customers. It offers a variety of interest bearing obligations to the public. These obligations are the sources of funds for the bank and are shown on the liability side of the balance sheet of a commercial bank. The main sources which supply funds to a ban.... More >>
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...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 .... More >>
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...When a petition or application is submitted to USCIS, the applicant or petitioner will receive a Receipt notice. On receipt of the petition or application USCIS will send this receipt notice to the applicant. The receipt notice is also called as Form I-797. After the application is processed successfully, USCIS will send an approval notice on Form I-797. Be notified that Form I-797 is not a .... 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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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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...Methods of Note IssueBoth the principles of, note issue mentioned above, have serious defects. The monetary experts’ by coordinating the advantages of both the principles have evolved various systems or methods of notes issue. The main systems of note issue prevalent in different countries of the world are (1) Partial Fiduciary System. (2) Proportional Reserve System. (3) Minimum Reserve System..... More >>
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...Promissory NoteA Promissory note is the simplest and earliest kind of credit instrument. It is an unconditional written promise by one person to another in which the maker (payer) promises to pay on demand or at a fixed or determinable date in the future, a stated sum of money to or to the order of a specified person or to the bearer of the instrument. A promissory note in order to be negotiable m.... 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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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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