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Notes For Commercial Studies-Class X-ICSE

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Published in: Commerce Subjects
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this note is exclusively for commercial studies of class-x ICSE

Mr D / Hyderabad

6 years of teaching experience

Qualification: MBA/PGDM (Asia Pacific Institute of Management (APIHM), Ahmedabad - 2005), M.Com (The University of Burdwan - 2003), B.Com (B.B.College,Asansol - 2001), Diploma (New York Institute of Finance,USA - 2006), ICWA (Inter - 2006), Diploma (NILEM, Chennai - 2007)

Teaches: All Subjects, English, Mathematics, Accountancy, Business Mathematics, Business Studies, Commerce Subjects, Costing, Economics, Business English, BBA Entrance, BBA Subjects, Management Subjects, MBA Entrance

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  1. Notes by dipusir for Commercial studies class X-ICSE Banking Services Bank is an institution that accepts deposits, withdrawal by cheques and makes loans and advances for the purpose of earning profits. According to Indian Banking Regulation Act, 1949 banking means "Accepting deposits of money from the public for the purpose of lending or investments." Types of accounts: 1. Savings Deposit 2. Current Deposit 3. Recurring Deposit 4. Fixed Deposit 5. Multiple Option Deposit Types of advances: 1. Overdraft 2. Cash credit 3. Loan Important services by Banks: (a) E-BANKING: E-banking means banking transactions carried out with the help of Computer systems (i.e., that is banking over the internet). 1. Electronic Fund Transfer (EFT): Under this system, a bank transfers wages and salaries directly from the company's account to the accounts of employees of the company. 2. Automatic Teller Machine (ATM): It refers to an electronic terminal that allows people with plastic card to perform simple banking transactions like withdrawal of cash 24x7 without any help of human teller. 3. Debit Card: It refers to a plastic card that allows the bank to take money from the customer's account and transfer it to a seller's account. 4. Credit Card: It refers to a plastic card that allows the customer to buy now and
  2. Notes by dipusir for Commercial studies class X-ICSE payback the loaned amount to bank at a future date. 5. Online Banking: Under this system, when the customer gives instruction on his computer, the bank computer transfers money from/ to customer's account to biller's account. (b) bank draft:. Bank draft can be obtained from a bank after depositing the required amount in the bank. (c) Banker's Cheque: It is like bank draft payable within city. (d) Real Time Gross Settlement (RTGS): funds transfer system where transfer of money takes place from one bank to another on a real time and gross basis. (e) National electronic fund transfer (NEFT): fund is directly transferred from one account to another account. D Insurance: It is a contract whereby in exchange of fixed consideration one party promises to pay a fixed amount either at happening of an event or at the expiry of certain period. Fundamental Principles of insurance: o Principle of utmost faith: refers that no material or important facts should be concealed by both the parties of insurance contract. o Principle of Insurable Interest: There must be some pecuniary interest in the subject matter of the insurance contract. o Principle of Indemnity: Refers that the insured can get only the compensation against actual loss and he cannot make profit out of the insurance.
  3. Notes by dipusir for Commercial studies class X-ICSE o Principle of Subrogation: when the insured is compensated for the loss to the property insured by him the right of ownership of property passes to insurer. o Principle of Contribution: Refers if a person has taken more than one policy for the same subject matter than all insurers will contribute the loss. o Principle of proximate cause: It refers to the direct cause and not the remote cause. o Principle of mitigation of loss: states that it is the duty of the insured to take reasonable steps to minimize the loss/ damage to the insured property. Advertising: It is defined as any paid form of non-personal presentation or promotion of ideas, goods or services by an identified sponsor. Merits: 1) Mass reach 2) Enhancing customer satisfaction 3) Expressiveness 4) Economical Limitations: 1) Less forceful 2) Lack of feed back 3) Inflexibility 4) Low effectiveness Objections to advertisement a) Adds to Costs: Advertising costs are passed on to the consumers in the form of high prices. b) Some Advertisements are in bad taste. c) Undermines social values. d) Confuses the buyers. e) Encourages the sale of inferior goods.
  4. Notes by dipusir for Commercial studies class X-ICSE Personal selling: It involves face-to-face interaction between the seller and the prospective buyer. Features: 1) Personal interaction 2) Two way communication 3) Better response 4) Relationship Qualities of a good sales man: i) Physical Qualities - personality , stamina, health, tolerance ii) Mental Qualities - mental alertness, sharp memory, initiative, imagination and self confidence. iii) Social Qualities - Sociality, tact, sound character, sweet nature. iv) Vocational qualities - Knowledge of product, knowledge of competitive products, training and aptitude. Sales promotion: It refers to short term use of incentives or other promotion activities that seek to stimulate interest. a) Rebates b) Refunds c) Discounts d) Quantity deals e) Contents f) Packaged premium g) Container premium h) Premium Gifts h) Sampling i) Free in mail premiums
  5. Notes by dipusir for Commercial studies class X-ICSE Very Short answer Type Auestions (IMark) Q.l "It is necessary that goods and services must be made available to the customer at the right place, in right quantity and at the right time'. Name the concerned element of marketing mix. Ans. (a) The concerned element is Place mix. Q.2. 'Automobiles Ltd. Offered to sell their new bikes at about Rs.4, 000 less than the usual price'. This is an example of one of the techniques of sale promotion. Name the technique. Ans. The given techniques of promotion mix are 'Rebate'. Q.3 "Money spent on advertisement is not a waste but an investment". Do you agree with this view? Give reason in support of your answer. Ans. Yes' I agree with the given statement. Advertising is a medium through which a large number of people can be reached over a vast geographical area. Q.4 Atoy car freewith 'MaggiNoodles' is an example of one of the techniques of sales promotion. Name the techniques

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