MPT - 318991

Swapnil T Male, 22 Years

Associated for 3 Years 9 Months
College Level Tutor

Activity Score - 2245

  • I go to Student's Home
Location: Mumbai, India
Qualification :
  • B.Com (University of Mumbai - 2017)
  • Total Experience:
    2 Years
  • Hourly Fees:
    INR 300
Tutoring Experience :
I am currently pursuing Company Secretary Course. I have passion of teaching that is the reason I want to teach and literate people.
Tutoring Option :
Home Tuition Only
Tutoring Approach :
I will teach my students in a simplified manner and will ensure that the concepts are clear. I will be conducting regular monthly tests.
Teaches:
Nursery Level Counting Skills INR 300 / Hour
Class 1 - 5 English English History History Geography Geography Hindi Hindi EVS EVS Science Science CBSE/ICSE INR 250 / Hour
Class 11 - 12 Accountancy Economics Hindi Business Organisation Local State Board INR 400 / Hour
College Level Costing Economics Hindi Direct Tax INR 300 / Hour
Law Subjects Company Laws Contract Act Laws INR 400 / Hour
Class 6 - 8 English English Geography Geography Economics Economics EVS EVS CBSE/ICSE INR 300 / Hour
  • Answer:

    Job costing basically means undertaking single work like work of a Tailor.One gets specialised service under this and here Specific costing is applied as products are produced on the basis of demand from the customers whereas Process costing means work is performed by more than one process for example Clothing Industry.Let's take an example a Raw Cloth is converted into finish goods with the help of more than one process,it involves cutting,stitching,finishing and then it becomes finish goods.Here multiple products are produced together hence Uniform costing is applied in this case.

  • Question: What is abnormal gain?

    Posted in: Costing | Date: 27/10/2017

    Answer:

    As the name suggests it is abnormal in nature and hence it doesn't accrue usually.It is the savings from Normal Loss that means if input is 10units and let's say Normal loss is 20% of input so Expected output would be 8units I.e.10U minus 20% but the Actual Output turned out to be 9units than the difference between Actual Output(I.e.9units) and Expected output(I.e.8 units) will be the Abnormal Gain.It is the profit for the company.

  • Question: what is audit comittee

    Posted in: Auditing | Date: 27/10/2017

    Answer:

    Auidt committee looks after the appointment of auditors it has to decide their remuneration and it keeps an eye on auditors.It ensures that they work in the best interest of the company.

  • Answer:

    Internal auditor is appointed by the BOD's whereas External is appointed by the shareholders.Internal Audit is not mandatory whereas the external audit is mandatory.

  • Question: What is Separate Entity Concept?

    Posted in: Accountancy | Date: 27/10/2017

    Answer:

    The company and its shareholders are different and separate in the eyes of law,this is the meaning of the term The Separate Legal Entity.That is the reason the Capital contributed by the shareholders appears on the Liabilities side of the balance sheet as both are different from each other.

  • Question: Outstanding salary is under which account?

    Posted in: Accountancy | Date: 27/10/2017

    Answer:

    It is a personal account( Personal Representative account) as it is relating to some persons.For eg:- O/s salary represents here salary is outstanding to the employees hence it is a personal account.

  • Answer:

    Equity shareholders are ordinary shareholders and they don't have any preference in terms of payment of capital or dividend.When it comes to preference shareholders as the name suggests they have preference in the matter of payment of dividend and capital amount over the equity shareholders that means if dividend is to be paid by the company then PSH must be paid before ESH can be paid.

  • Answer:

    The company can issue shares for consideration other than cash to the below mentioned persons 1)Promoters for their promotional services 2)To their employees under the scheme of ESOP 3)To Take Over/Purchase any Business/Asset

  • Answer:

    The following are some of the factors. 1)Location 2)Type of business 3)Duration(I.e. seasonal or not) 4)Govt Restrictions etc

  • Answer:

    1)Mutual Relationship(It is the unique feature of partnership form of business) 2)sharing of profits and losses(It is yet another unique feature of this type of business 3)Joint and Seperate Liability:-(That means act of one partner binds all other partners that means if one partner does something wrong than all the partners are liable for such act even without their fault)

  • Question: Define overhead in terms of accounting?

    Posted in: Accounts | Date: 27/10/2017

    Answer:

    Overheads are indirect expenses incurred by an organisation.They can be classified into Factory,Administrative or Selling and Distribution Overheads.

  • Question: Differentiate between provision and reserve?

    Posted in: Accounts | Date: 27/10/2017

    Answer:

    Provision means keeping aside an amount for any certain liability as per the rule of conservatism.This rule says that whenever an accountant comes to know about any losses he should record the same.Creating reserves means keeping aside an amount for any specific or unknown purpose.It is the part of owners fund.

  • Question: Define Marginal Cost?

    Posted in: Accounts | Date: 27/10/2017

    Answer:

    Marginal cost means additional cost of one extra unit produced.It includes all Variable costs but doesn't include fixed costs

  • Question: Define Scrap value in accounting?

    Posted in: Accounts | Date: 27/10/2017

    Answer:

    Scrap value means the resale price of the asset in the market

  • Answer:

    Basic knowledge is enough as you shall more have concept clarity.One can even work upon his statistical knowledge if he doesn't have that.

  • Question: Define trade bills?

    Posted in: Accounts | Date: 27/10/2017

    Answer:

    Bills receivables are termed as Trade bills in accounting term

  • Question: Discuss some errors not disclosed by a Trial Balance.

    Posted in: Accounts | Date: 27/10/2017

    Answer:

    Error of duplication,Error of full omission,Error of principal.

  • Question: Define depreciation and its types?

    Posted in: Accounts | Date: 27/10/2017

    Answer:

    Depreciation is the decrease in the value of asset due to its wear and tear.That means value of an asset keeps on decreasing over the period of time.Types of depreciation methods are 1)SLM(Straight Line Method) 2)RBM(Reducing Balance Method) 3)Annuity Method. Usually first two are only applied and third one has no practical usage.

  • Question: Can you name different branches of accounting?

    Posted in: Accounts | Date: 27/10/2017

    Answer:

    There are 3 branches 1) Cost Accounting 2) Financial Accounting 3)Management Accounting

  • Question: What is ICAI?

    Posted in: Accounts | Date: 27/10/2017

    Answer:

    Institute of Chartered Accountants of India

  • Question: In accounting, VAT abbreviates what?

    Posted in: Accounts | Date: 27/10/2017

    Answer:

    Value Added Tax

  • Answer:

    Debit:- Dr.. Credit:- Cr..

  • Answer:

    King institute is best in mumbai

  • Answer:

    This right says that the complaints of customers should be heard by the seller.And it also empowers them to be heard before the courts and consumer forums.

  • Question: What is decentralisation of authority ?

    Posted in: Commerce Subjects | Date: 27/10/2017

    Answer:

    That means the decision making authority is not concentrated at the top level but instead all departments are free to take their own decisions.

  • Answer:

    The agency services offered by commercial banks are Payment of amount of insurance policy and such other amounts on behalf of clients,To act as a Trustee of the property of the client and so on.

  • Answer:

    Over subscription means when the no of shares applied for are more than those issued.For eg if a co issues 1000 shares and it got an application for subscription of 1200 shares than it is termed as over subscription.In this case co can either allot all the shares to the applicant(I.e. 1000shs) or it can reject some applications or it can issue shares on Pro-rata.

  • Answer:

    Company is form of business where the money is invested by shareholders and managed by Directors.Its features are 1)Legal Entity(As it get itself registered) 2)Separate Management 3)Limited Liability(of Shareholders and not that of the company as the co has unlimited liability) 4)Compulsory Registration etc

  • Answer:

    Revenue Expenditure are those which are incurred in the ordinary course of business such as Rent,Salary,Electricity Bill etc. Whereas Capital Expdt means an exp which enhances the life of the Asset.For Eg:- Repairs to an Asset,it leads to increase in the value of the asset.

  • Answer:

    Current Assets are those assets which are expected to be realised in cash or in other words have the life of less than or equal to One Year.Examples of such assets are Stock,Debtors and Bills Receivable and so on.

  • Answer:

    Branding helps in recognition of a particular product and it in this way it helps to differentiate between all the brands.

  • Answer:

    Right to Information:- A consumer has a right to get all the information regarding the product he intends to purchase.Information such as quantity,ingredients,uses,price etc should be provided to him. Right to Education:- He has right to be educated about malpractices happening in the market. Right to choose:-He has a right to choose from the vide range of variety of goods. Right to be Heard:-If he has complaints than he can go to the consumer forums in order to get the query solved.

  • Answer:

    A company can issue securities either through IPO(Initial Public Offering) or Right issue or Preferential Allotment.

  • Answer:

    It is the totality of all the external sources it is a Relative concept and It is Dynamic in nature that means it keeps on changing.

  • Answer:

    Personal Selling involves many advantages.It involves Two way communication cum face to face communication.It gives benefit of physical touch of product.Seller can give more attention to his customer.

  • Question: Can you tell me what is a money market?

    Posted in: Business Studies | Date: 28/10/2017

    Answer:

    Money market is one where investment can be done for period not exceeding One year.This is best for Short term investments.It involves investing in T-bills,Corporate Deposits,Commercial Papers etc.They are Least Risky in nature as they are mostly offered by the Government so they have Zero Default Risk.Rate of return in usually high on these investments.

  • Answer:

    I can teach you in the best way

  • Answer:

    One suggest read daily newspapers and should go for one or more of recognised books.It will definitely help the student to score good marks.

  • Question: What additional courses can be done after SSC exam?

    Posted in: SSC Exams | Date: 28/10/2017

    Answer:

    You can go for either CA or CS or CMA.These are the best choices one has after the completion of SSC.

  • Answer:

    CA,CS or CMA,LLB,these are the professional courses one can go for.

  • Answer:

    Read daily newspapers,Watch out news on tv,YouTube,Refer well recognised books.

  • Answer:

    Here are the 3 constituients of Financial Statement. 1)Balance Sheet 2)Trading and Profit and Loss Account 3)Cash Flow Statement.

  • Question: What is Sinking Fund?

    Posted in: Business Analytics | Date: 28/10/2017

    Answer:

    Sinking fund is nothing but the planned savings in order to discharge the liability at a future date.For Eg:-Debs of Rs.5L are to be redeemed after 5yrs.Assume co saves 1L each yr for next 5yrs and it invests the same.The return on such investment is also re-invested.Thus the sinking fund helps to discharge the liability.

  • Answer:

    Budgeting means to set a standard for a particular thing at the beginning of the year than Actual and Standards are compared at the end of the year inorer to know Deviations if any. Objectives:- 1)It helps in setting standard(I.e. it acts as a planning tool) 2)Cost Reduction and Cost Control 3)Quantitative Measurement etc

  • Answer:

    Price Earning is ratio is the comparison of the Market Price of Shares and Earnings Per Share.If this is high than it suggests that one should invests in such company as it offers more of capital Appreciation.

  • Answer:

    19july,1969

  • Answer:

    14

  • Question: In 1980, how many banks were nationalized?

    Posted in: Banking & Finance | Date: 28/10/2017

    Answer:

    6

  • Answer:

    Mr P chidambaram(Ex Finance Minister)

  • Answer:

    Agriculture sector

  • Answer:

    Father in law

  • Answer:

    O is accountant

  • Question: How to prepare myself for Bank Clerical Exam?

    Posted in: Bank Clerical | Date: 28/10/2017

    Answer:

    Study regularly.Hard work is the success to key.

  • Question: What is a backup ?

    Posted in: Bank Clerical | Date: 28/10/2017

    Answer:

    To make copies of data or files

  • Answer:

    8bits

  • Answer:

    John Von Neumann

  • Answer:

    WOS(Windows Operating System)

  • Answer:

    Mouse

  • Answer:

    ENIAC

  • Answer:

    Tree topology

  • Answer:

    Word Processing

  • Answer:

    Slide Sorter View

  • Answer:

    Peripheral device

  • Answer:

    Relational Dabatbase

  • Answer:

    Doc

  • Answer:

    Return keyword

  • Question: Which is the best C, C++ training institute in Pune?

    Posted in: C,C++ | Date: 28/10/2017

    Answer:

    NIiT

  • Question: Where can I get training for C, C++ in Mumbai?

    Posted in: C,C++ | Date: 28/10/2017

    Answer:

    NIIT is best

  • Question: How will you free the allocated memory ?

    Posted in: C,C++ | Date: 28/10/2017

    Answer:

    Using Free Function

  • Question: Which is the best C, C++ training institute in Kolkata?

    Posted in: C,C++ | Date: 28/10/2017

    Answer:

    NIIT

  • Question: Where can I get training for C, C++ in Bangalore?

    Posted in: C,C++ | Date: 28/10/2017

    Answer:

    NIIT

  • Question: What are the job opportunities for C, C++?

    Posted in: C,C++ | Date: 28/10/2017

    Answer:

    One can get job in both pvt as well as Govt sectors

  • Question: What is C, C++?

    Posted in: C,C++ | Date: 28/10/2017

    Answer:

    These are the programming language

  • Question: Which is the best C, C++ training institute in Hyderabad?

    Posted in: C,C++ | Date: 28/10/2017

    Answer:

    NIIT

  • Question: Which is the best Advanced C C++ training institute in Pune?

    Posted in: C,C++ | Date: 28/10/2017

    Answer:

    NIIT

  • Answer:

    Go for NIIT

  • Question: Where can I get training for Advanced C C++ in Chennai?

    Posted in: C,C++ | Date: 28/10/2017

    Answer:

    Go for NIIT

  • Answer:

    NIIT

  • Question: Why should I learn Advanced C C++?

    Posted in: C,C++ | Date: 28/10/2017

    Answer:

    You should learn it because it has good scope

  • Question: Where can I get training for Advanced C C++ in Mumbai?

    Posted in: C,C++ | Date: 28/10/2017

    Answer:

    Go for NIIT

  • Answer:

    N - 1

  • Answer:

    Use sizeof

  • Question: how can the president vacate the seat?

    Posted in: Civil Laws | Date: 28/10/2017

    Answer:

    Through Impeachment

  • Answer:

    Apply on Naukri.com

  • Answer:

    Name of the pool is The Greater Family Indoor Swimming Pool

  • Question: What is the scope of job after clearing CFA?

    Posted in: CFA | Date: 28/10/2017

    Answer:

    Lots of scope in securities market

  • Answer:

    Go for Chatmaster's special course

  • Question: What are the top engineering colleges in Jalandhar?

    Posted in: BCA Entrance | Date: 28/10/2017

    Answer:

    Lovely Professional University

  • Answer:

    Currently there is no limit as such

  • Answer:

    No exams as such and no specific pattern

  • Answer:

    Bright prospects,one can do wonders In this field.The only thing that matters is the passion one has towards his work.

  • Answer:

    ARENA

  • Answer:

    ARENA

  • Answer:

    ARENA

  • Question: Where can I get training for haXe Animation in Chennai?

    Posted in: Animation | Date: 28/10/2017

    Answer:

    ARENA

  • Answer:

    ARENA

  • Answer:

    ARENA

  • Question: Where can I get training for haXe Animation in Mumbai?

    Posted in: Animation | Date: 28/10/2017

    Answer:

    ARENA

  • Answer:

    MAAC is the best institute

  • Answer:

    MAAC

  • Answer:

    MAAC

  • Answer:

    ARENA

  • Answer:

    ARENA

  • Answer:

    ARENA

  • Answer:

    All are parallel

  • Answer:

    C:-1,0,1

  • Question: When to start preparing for CET exam?

    Posted in: CET | Date: 28/10/2017

    Answer:

    Start preparing for this exam after 10th

  • Question: What are the top engineering colleges in Nashik?

    Posted in: CET | Date: 28/10/2017

    Answer:

    Brahmha valley college

  • Question: What is Profit and Loss Appropriation Account?

    Posted in: Accountancy | Date: 28/10/2017

    Answer:

    Profit and loss appropriation account is drawn up in order to show the amount that has been distributed towards Partners/Shareholders,as the case may be,from the Net Profits of the company.

  • Question: How is goodwill adjusted

    Posted in: Accountancy | Date: 28/10/2017

    Answer:

    Goodwill is the Reputation of the firm or a business. Whenever there is change in ownership structure, Goodwill is adjusted.It is adjusted in Sacrificing Ratio when Admission takes place and in Gain Ratio when it is the case of Death or Retirement

  • Question: What are Assets and Liabilities?

    Posted in: Accountancy | Date: 28/10/2017

    Answer:

    Assets are companies properties.It includes Fixed Assets and Current Assets.Whereas liabilities are its debts towards its owners and outsiders.

  • Answer:

    Realisation A/c Dr.. To Partner's capital A/c

  • Question: Define ‘Planning premises’

    Posted in: Accountancy | Date: 28/10/2017

    Answer:

    The sets of principle on which planning depends is termed as Planning Premises.It acts as a basis for planning.

  • Answer:

    Private tutor would be the best option as you will get personal attention

  • Answer:

    NIIT would be a better option

  • Question: What are the career prospects for a CA?

    Posted in: ACCA | Date: 28/10/2017

    Answer:

    A CA has lots of scope.He can go for Practising in own firm or work for Big 4's or he can act in the capacity of an Investment Banker or a Financial Advisor etc

  • Answer:

    Read newspapers,Watch news channels,Read good books regarding the matter.

  • Question: What is Accounting Principle ?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    Accounting Principles are the Rules and Regulations that every firm and company and all other forms of business needs to comply with.These are framed in order to ensure the smooth working of accounting Practices.

  • Question: Define the term Accounting.

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    It is the systematic process of identifying,recording,classifying, summarising analysing financial transactions on a particular date usually the year end.

  • Question: Define the term Accounting.

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    It is the systematic process of identifying,classifying, summarising,recording transactions at a particular date

  • Question: Define fair value accounting?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    Fair Value is the value for which an asset could be sold or a liability could be settled in an arm's length transaction.

  • Question: Define Offset accounting?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    It means setting of expensed items which are of capital nature.

  • Question: Define balancing in accounting?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    Balancing ensures that total of Debit side and credit side is equal.

  • Question: Differentiate between consignor and consignee?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    Consignor is the person whose goods are to be sold by the consignee.In other words Consignor is the Principal where is the later is an Agent.Later gets commission in the form of Remuneration.

  • Question: Define bills receivable?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    B/R is a current asset which implies the money is receivable on the date mentioned in that document.

  • Answer:

    Basic knowledge would suffice.

  • Question: Define retail banking?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    Retail banking is the consumer banking. Under this the bank offer its services to it's customers only and not to companies or any other person.Facilities offered to customers under this are Providing Loan Facilities, Debit card facilities and so on.It is done in order to enhance the value of customers.

  • Question: Define company’s payable cycle?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    Companies payable cycle means time taken by the company to pay to its creditors in the ordinary course of business.It starts when the goods are received on credit from the supplier and it ends when he is paid.

  • Question: Have you ever prepared MIS reports and what are these?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    MIS stands for Management Information System.They aid in Decision Making process to the Directors.They differ from company to company. It helps to take various decisions such as Transitional decision,Strategic decision,Analytical and so on.

  • Question: Define the term material facts in accounting?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    The concept of Materiality means the importance or significance. It depends on the nature of transactions,size of organization,value of transaction, type of business carried on and so on.

  • Question: What do we mean by purchase return in accounting?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    Purchase Return means the goods are returned by the Purchaser.It is credited to Trading account or it could be deducted from Purchases.

  • Question: Define dual aspect term in accounting?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    Dual aspects indicates that Every transaction has two effects. I.e. one has debit effect whereas the other has credit effect.

  • Question: Differentiate Accounting and Auditing?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    Accounts is all about recording of transactions whereas Auditing is all about verifying the same.

  • Question: Do you think Accounting Standards are mandatory and why?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    As per the Companies act Accounting Standards are compulsorily to be followed by each and every organisation.It is because to ensure the Uniformity in accounting.

  • Question: Define Public accounting?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    Public accounting means serving to the organisations whether profit making or not or to individuals and so on.

  • Question: What is a CPA?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    Certified Public Accountants.It acts in the capacity of a CA in US.

  • Question: Define Executive accounting?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    Executive accounting is introduced to cater the needs of service industry.

  • Answer:

    Perpetual Inventory system means checking of goods on a regular basis whereas Periodic inventory system means goods are checked over a period of 1 or 2month/s.Perputal inventory system need not to be reconciled whereas the later one has to be reconciled with the actual stock.

  • Question: Define fictitious assets?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    Fictitious Assets are not assets in the real sense.It is the benefit of an expense to be enjoyed by the organisation over the future period of time.Eg:- Preliminary expenses,Advertising Campaign expenses,Discount on issue of shares and so on.

  • Question: How can you define departmental accounting?

    Posted in: Accounts | Date: 28/10/2017

    Answer:

    It is the system under which transactions are recorded about all the departments of a particular organisation.

  • Question: What colleges offer courses in Event Management?

    Posted in: Event Management | Date: 28/10/2017

    Answer:

    Pearl academy if you staying in Delhi

  • Question: Is there any short course in Event Management?

    Posted in: Event Management | Date: 28/10/2017

    Answer:

    Yes there are short duration courses ranging from 6month to 1.5yrs depending upon institutions

  • Answer:

    You need to register yourself for CPT(common proficiency test)

  • Answer:

    Controls are very much essential for success of any organisation.It indicates high standards of integrity.

  • Answer:

    A customer should be aware of his rights such as Right to information ,right to choose and so on.He needs to take an informed decision while buying goods.He should have a look at the price of goods,Quality,quantity and such other aspects.

  • Question: What is Public Interest Litigation (PIL) ?

    Posted in: Commerce Subjects | Date: 28/10/2017

    Answer:

    PIL is filed against any association or any individual when he or it is engaged in any fraudulent/mal Practices that can affect the interest of society at large.

  • Answer:

    They are engaged onto providing knowledge to the masses and they educate by way of print media.They make him aware of his rights.

  • Answer:

    A case against which an appeal lies from the order of State commission can be appealed to National commission.Where the amount involved in case is of 1cr or above can be entertained by National commission.

  • Answer:

    If the amount involved in case is more than 20lakhs but not exceeding 1cr can be filed with State comission.And appeal against the orders of District court can be filed with State comission.

  • Answer:

    Indirect channels of distribution means that the goods is not directly sent from Manufacturer to the Consumer but instead a number of intermediaries are involved.

  • Answer:

    Govt should keep an eye on fake advertising and they can organise campaigns in order to impart the knowledge regarding false advertising as well as to discuss the pros and cons of advertising.

  • Answer:

    Delegation and control

  • Question: What is meant by floatation cost ?

    Posted in: Commerce Subjects | Date: 28/10/2017

    Answer:

    Expenses incurred in order to issue securities in the market.

  • Question: Can you define the term financial decision ?

    Posted in: Commerce Subjects | Date: 28/10/2017

    Answer:

    Finance decision are nothing but the decision relating to Money and its usage.How money would flow in and out the organisation.

  • Question: Can you explain the importance of staffing ?

    Posted in: Commerce Subjects | Date: 28/10/2017

    Answer:

    Staffing helps to select the right person for the right job.Thus it creates human assets of the organisation.

  • Answer:

    Delegation means to give the Authority to take the decisions regarding particular matters.Helps in decision making and Creates value of the employee and enhances Relation of Management and Employees.

  • Question: What do you mean by delegation of authority ?

    Posted in: Commerce Subjects | Date: 28/10/2017

    Answer:

    Delegation of authority means to give the powers to take decisions to the subordinate employees by the manager.With delegation of authority comes delegation of responsibility. Authority and Responsibility goes hand in hand.

  • Answer:

    Proper organising of resources helps to acheive business objectives such as Increase in Sales,Profits etc.It helps in optimum utilisation of resources such as Human, physical, financial etc.Thereby it leads to Minimum wastage of resources.

  • Answer:

    It is time consuming,it involves huge costs.it involves some amount of guess work hence not fully reliable

  • Question: Can you explain how planning is futuristic ?

    Posted in: Commerce Subjects | Date: 28/10/2017

    Answer:

    It deals with deciding future course of actions that have not taken place yet hence it is termed as futuristic in approach.

  • Answer:

    Objectives is something than an organisation intends to achieve whereas strategies are the long term plans of an organisation.

  • Answer:

    Business environment is Uncertain in nature, it is totality of all external factors,it is dynamic(it keeps on changing),it is complex to understand.

  • Answer:

    Taking Top level decisions such as strategic decisions,Ensure the smooth running of business, To participate in day to day activities of an organisation

  • Answer:

    Management is all pervasive that means it is applicable everywhere.Because,it has universal application. It is applicable to educational institutions as well as NGO's.Management means to get the things done from others. It is needed everywhere.

  • Question: Why is "management called a group activity" ?

    Posted in: Commerce Subjects | Date: 28/10/2017

    Answer:

    Because it is less likely that a single individual can manage all the things at the same time. Success of any organisation depends upon group efforts as it promotes coordination of work amongst them.

  • Answer:

    It will lead to less mal Practices,Enhances value of the customers,they get better service and hence it results to loyalty of customers.

  • Answer:

    1)Rate of return that we get 2)Opportunity cost is always to be considered by the investor 3)Whether one invests in stock market or money market or property and so on. 4)Liquidity is yet another important feature. 5)Risk associated with such investment

  • Answer:

    Long term investment decisions means decisions regarding purchase of assets having life more than 1 year usually Properties,shares,Debs,Bonds and so on.These decisions are taken usually by Top level management.

  • Question: Can you define the term 'Recruitment' ?

    Posted in: Commerce Subjects | Date: 28/10/2017

    Answer:

    Recruiting refers to searching for prospective employees,Selecting them and Appointing them at a suitable place.It is very essential to any organisation as it helps to create Human assets.

  • Answer:

    1)Location of business 2)Type of business carried on(seasonal or not) 3)Duration(short term or long term) 4)scale of operation of business

  • Answer:

    It acts as a Regulatory body of companies dealing in Capital and Securities market.It has operational autonomy I.e it can create its own rules for its functioning.It creates market for buyers and sellers to deal in financial products such as futures and options,shares, debentures, bonds and so on.

  • Answer:

    Public Relation Department of an organisation can help to manage its public relations if the advertising had the negative impact on masses.

  • Answer:

    It is futuristic in approach,Fundamental/Basis of management,Primary function of management,it is all pervasive,it is continuous in nature.

  • Answer:

    1)Pricing of securities 2)Creates Liquidity 3)Contributes towards economic growth 4)Creation of Market for buyers and sellers to deal in financial products such as such shs,debs etc

  • Answer:

    1)Promotion of Investors Education by conducting various seminars 2)Imparting training to its employees 3)Research 4)Measures to promote the development of securities market.

  • Answer:

    Democratic ledearship is one where every employee gets chance to participate in the decision making process.It results into creation of value of employees towards organisation.

  • Answer:

    It creates Brand Awareness,It helps in promotion of goods,services as well as ideas,It enhances customer loyalty.

  • Answer:

    Workers work in factories.Assume safety measures are not there than if an accident accurs then an Employer would be held responsible hence Safety measures are must for worker working in factories.

  • Answer:

    Once a week,the floor should be thoroughly cleaned by washing with disinfectant. White wash should be carried at least once in every 14 months.

  • Answer:

    1)Equity finance(by issue of shares) 2)Debt financing (by issue of debentures and bonds) 3) By sale of Assets etc

  • Answer:

    1)Sharing of profits and losses 2)Mutual Relationship 3)Partners act in the capacity of principal as well as agent

  • Question: What are the objectives of marketing ?

    Posted in: Commerce Subjects | Date: 28/10/2017

    Answer:

    Creates brand awareness,Customer loyalty,Promotion of goods services and ideas,Enhances customers value

  • Answer:

    Under short term financial the period involved is less than or equal to 1yr whereas in long term financing period is one year or more.Examples of STF are Debtors,Bills Receivable etc and that of LTF are Equity and Debt funds

  • Answer:

    Wren Martin

  • Answer:

    To be afraid of something means the fear is inside you whereas to be scared of someone denotes that is it external fear.

  • Answer:

    Download The Volt App

  • Question: What is Supply?

    Posted in: Economics | Date: 29/10/2017

    Answer:

    Supply is the goods that the seller is Able and Willing to sell at a particular price.

  • Question: How do we define the term Equilibrium?

    Posted in: Economics | Date: 29/10/2017

    Answer:

    Equilibrium is the state where both demand and supply are equal.

  • Question: How do we differentiate between demand and supply?

    Posted in: Economics | Date: 29/10/2017

    Answer:

    Demand is the desire of consumers.Whereas supply is the ability and willingness of seller to supply the goods at a particular price.

  • Question: What is meant by 'Liberalization'?

    Posted in: Economics | Date: 29/10/2017

    Answer:

    Liberalisation in simple terms is to carry business without more restrictions and without more Govt interventions.

  • Question: sales return

    Posted in: Accountancy | Date: 06/01/2018

    Answer:

    Sales return means goods which are returned by the customer.It might be due to any reasons such as Defect in goods or less quantity and such other reasons. Accounting effect of the above transaction is Purchases A/c Dr.. To Sales Return A/c

  • Answer:

    The following are the three fundamental accounting assumptions recognised AS-1 1)Going Concern 2) Consistency 3)Accrual Going Concern:-It is assumed that the business is a going concern and to be run perpetually and not to be close down Consistency:-It means accounting data should be presented in a consistent way I.e. if a company follows a particular method it shall follow that method only as far as possible. E.g.:- weighted Average Method of Depreciation. Accrual:-It says that accounts are prepared on Accrual basis and not on cash basis.It means if an expense is incurred for a particular period than it must be recorded for that period only whether or not cash is paid with respect to that expense. E.g.:-Outstanding Expenses.

  • Answer:

    wholesalers are those who purchases goods from Manufacturers and sell it to Retailers.They buy in Bulk quantity.Thus they act as a link between Manufacturer and retailers. Whereas,Retailer buys from Wholesaler and sell it to final consumer.They act as a link between Wholesaler and a consumer.

  • Answer:

    Assignment is the transfer of rights for certain period of time.For eg:- I gave you my patent rights for 5years than it is Assignment.Nomination is the transfer of right for entire period.For eg:- I nominated my son the patent rights.

  • Question: How should I start preparing for B.Ed exam?

    Posted in: B.Ed Tuition | Date: 06/01/2018

    Answer:

    Attend lectures of the respective college or university regularly, Study properly ,do revision timely and you are prepared for the exams.

  • Answer:

    One shall have completed 21 yrs of age but not more than 55yrs.

  • Answer:

    Handwriting should be neat and clean,Good presentation,Continue speaking while writing so that attention doesn't get broken

  • Answer:

    The constitution of India contains 12 schedules

  • Answer:

    There are 13 districts at present in Utarakhand.

  • Answer:

    You will be having tons of opportunities after BA namely Masters in Arts or B.ed or you can opt for MBA

  • Answer:

    You can go for either of the followings 1) Unbeatables Dance academy 2)Cinderella dance academy 3)Heels dance academy

  • Answer:

    1) Furor entertainment 2)Steps dance studio

  • Answer:

    1)Latin Dance India 2)H2O dance and recording studio

  • Answer:

    John Britto's dance studio is the best academy

  • Answer:

    1)Arpita Step Up Dance Academy 2)Conrad Coelho's Dance Company

  • Answer:

    Go for Delhi Dance Academy

  • Answer:

    Ganesh Acharya Dance Academy Twist n Turns dance academy

  • Question: What is Ballroom Dance?

    Posted in: Ballroom Dance | Date: 06/01/2018

    Answer:

    Ballroom dance is the dance where two partners use special movements or steps such as Waltz or Tango.

  • Answer:

    Radical Technologies Etlhive institute Kaustya Robotics

  • Answer:

    Naukri.com or else indeed.com can work for you.

  • Question: How much time would it take to prepare for bank PO

    Posted in: Bank Clerical | Date: 06/01/2018

    Answer:

    It might take 2/3months preparations and you will clear with good marks.

  • Answer:

    Correct option is E(I.e. None of the above).Anyways correct answer is North-East.

  • Answer:

    Go for B.ed or else P.hd

  • Answer:

    You should pursue any course related to Tourism or else go for Diploma in Tourism.

  • Answer:

    Go for Diploma or else pursue any course related to Tourism.Its a bright future out there.

  • Answer:

    Go for T.I.M.E. or else Bulls Eye,Both are good.

  • Answer:

    Go for TIME or Abhyaas,Both are amazing.

  • Answer:

    Go for Career Launcher or else Vista Mind

  • Answer:

    TIME or Vista Mind

  • Answer:

    IMS,TIME

  • Answer:

    Tathagat MBAguru Career Launcher

  • Answer:

    Erudite Erufoster IMS

  • Question: What is CAT Exam?

    Posted in: CAT Exam | Date: 07/01/2018

    Answer:

    CAT(Common Admission Test) is an entrance examination conducted for Management course.

  • Answer:

    Advantages * Supervision * Uniformity * Evidence * Helps in fixing up the Responsibility Disadvantages *Rigid *No Initiative *Not Comprehensive *Not suitable for small organisations

  • Answer:

    Following are the liabilities of an Auditor 1)Liability for Misfeasance 2)Liability for Negligence 3)Criminal Liability

  • Question: How to evaluate the internal control audit?

    Posted in: Auditing | Date: 07/01/2018

    Answer:

    Firstly check whether there exists an internal control system than check whether it is effective or not.Apply Substantial and Compliance procedures to evaluate the internal control system.

  • Question: What does an Internal Audit Charter contain?

    Posted in: Auditing | Date: 07/01/2018

    Answer:

    It is a document that defines Internal Audit's purpose,authority,responsibility and position within an organisation.

  • Question: What are the drawbacks of statutory audit ?

    Posted in: Auditing | Date: 07/01/2018

    Answer:

    Limitations of Audit 1)Time constraint 2) Cost constraint 3)Audit Evidence is persuasive and not conclusive 4)Financial Statement is made on the basis of management's estimation which might go wrong.E.g.:- R.D.D. 5)Professional Judgement.

  • Answer:

    1)Establish responsibilities 2)Maintain Records 3)Employee Rotation 4)Segregation of Duties 5)Use of Technological Controls

  • Answer:

    Internal Audit is Independent, Objective assurance and consulting activity designed to add value and improve an organisation's operations.It provides assurance that internal controls which are in place are adequate to mitigate the risks and it helps in achieving organisational goals.

  • Question: What are the essentials of Internal Audit?

    Posted in: Auditing | Date: 07/01/2018

    Answer:

    1)Integrity,Objectivity and Independence 2)Confidentiality 3)Skill and Competence 5)Audit Documentation

  • Answer:

    Evaluation of internal control system helps to develop an effective risk management approach.Thus it helps to achieve company's goals.It reveals weaknesses in an organisation and then company can develop measures to overcome such weaknesses.

  • Answer:

    Internal Audit acts as a Management tool as it is performed by the employees of the company to check the appropriateness of internal checks and control in the organisation. It is a continuous exercise of examining and reporting the operations and records of the company. It acts as a control system. It is a Risk Management Tool.

  • Answer:

    Advantages:- 1)It helps in evaluating various problems. 2)Internal Audit Appraisal can ensure reliability and promptness of MIS and management reporting. 3)Internal Audit System ensures that ICS is effective. 4)It is an Integral part of Management by System. Disadvantages:- 1)Extra cost 2)Limitation of internal audit starts when there is a time lag between recording and checking of entries. 3)Employees may loose their independence while performing internal audit

  • Question: What do you mean by vouching?

    Posted in: Auditing | Date: 07/01/2018

    Answer:

    Vouching means the examination of documentary evidence in support of entries to establish the arithmetical accuracy.When the auditor checks the entries with some documents it is called vouching.

  • Question: What are Objectives Of Internal Audit?

    Posted in: Auditing | Date: 07/01/2018

    Answer:

    Objectives of internal audit 1)Reliability and integrity of Financial and Operating Information 2)Efficient Use of Resources 3)Compliance with Laws 4)Achieve Goals of the company 5)Safeguarding of Assets

  • Answer:

    It helps in fixing up the responsibility of the respective personnel. It helps to mitigate risks in the organisation in an effective manner. It helps in fulfilling the responsibility of the management. It assures reliability of MIS.

  • Question: What is statutory audit?

    Posted in: Auditing | Date: 07/01/2018

    Answer:

    Auditing is an examination of the books and records of business in order to verify and report upon the facts regarding financial operations of the organisation.

  • Answer:

    It ensures compliance with laws and policies of the company.It is an Integral part of Management by System.It ensures adequacy and reliability of operating data.It helps to evaluate various problems.

  • Answer:

    It increases operational efficiency It ensures that recording is proper and accurate. It helps in safeguarding the assets of the company. It ensures compliance with organisation's policies,Regulations and Laws. It provides benefits to the Auditor.

  • Question: What is VB.NET?

    Posted in: .Net | Date: 07/01/2018

    Answer:

    VB.NET means Visual Basic.NET,it is a multi- paradigm,object oriented programming language implemented on the .NET framework of Microsoft.It has been launched by Microsoft in the year 2002.

  • Question: What are the job opportunities for VB.NET?

    Posted in: .Net | Date: 07/01/2018

    Answer:

    You can act as a Software Developer for the company but it is advisable to possess additional knowledge of the field.

  • Question: Where can I get training for VB.NET in Chennai?

    Posted in: .Net | Date: 07/01/2018

    Answer:

    Dot net training institute IICT

  • Question: Where can I get training for VB.NET in Bangalore?

    Posted in: .Net | Date: 07/01/2018

    Answer:

    Net course Infocampus

  • Question: Where can I get training for VB.NET in Mumbai?

    Posted in: .Net | Date: 07/01/2018

    Answer:

    Net Computer Education Centre

  • Question: Why should I learn VB.NET?

    Posted in: .Net | Date: 07/01/2018

    Answer:

    It is a unique language and an easy language to learn.It is gaining popularity as it supports objective oriented constructs such as abstraction,encapsulation,inheritance and polymorphism.

  • Question: Which is the best VB.NET training institute in Delhi?

    Posted in: .Net | Date: 07/01/2018

    Answer:

    Dot Net Training Centre NIIT

  • Question: Which is the best VB.NET training institute in Pune?

    Posted in: .Net | Date: 07/01/2018

    Answer:

    SEED Infotech Ltd

  • Question: Which is the best VB.NET training institute in Hyderabad?

    Posted in: .Net | Date: 07/01/2018

    Answer:

    Computech info solutions

  • Question: Which is the best VB.NET institute in Kolkata?

    Posted in: .Net | Date: 07/01/2018

    Answer:

    PHP training institute Supernova microsoft

  • Answer:

    Go for NIIT or else I class Delhi

  • Answer:

    Go for iClasa kolkata

  • Answer:

    IICT chrompet Training in Tambaram

  • Answer:

    ECTI iClass Pune

  • Answer:

    iClass,Palle Technologies

  • Answer:

    iClass,Naresh i Technologies

  • Question: What is Trade Union?

    Posted in: Commerce Subjects | Date: 08/01/2018

    Answer:

    It is an association of employees,formed for protecting their rights. It ensures that employees are not unnecessarily exploited.

  • Answer:

    Management accounting is the presentation of accounting information in such a way as to assist management in the creation of policy and in day to day operation of an understanding.

  • Question: What are tangible and Intangible assets?

    Posted in: Commerce Subjects | Date: 09/01/2018

    Answer:

    Tangible assets are those assets which can be seen,which has physical presence such as Plant and Machinery,Furniture, stock etc Intangible assets are those assets which can not be seen and have no physical presence. E.g.:- Patents,Goodwill,Preliminary Expenses etc.

  • Answer:

    Earlier,there were lot of malpractices being used by the vendors/sellers such as Over Charging of prices,Giving Less quantity etc.To overcome these problems Govt enacted Consumer Protection Act,1986,thereby it provided a mechanism in which consumer can file a compliant against the seller if he is exploited.

  • Question: What is meant by 'capital structure' ?

    Posted in: Commerce Subjects | Date: 09/01/2018

    Answer:

    The capital structure is how a firm finances its overall operations by using different sources of funds.It consists of Debt and Equity.Debt comes in the form of Bonds and Debentures whereas Equity comes in the form of Equity shares,Preference shares etc

  • Answer:

    1)Nature of Business 2)Scale of operations 3)Business Cycle 4)Seasonal factors 5)Production cycle 6)Credit Allowed 7)Credit Availed

  • Question: What is working capital ?

    Posted in: Commerce Subjects | Date: 09/01/2018

    Answer:

    Working capital is a measure of company's Liquidity, Efficiency and overall financial health.It is calculated as follows:- Working capital = Current Assets - Current Liabilities. It inculed cash,stock,B/R,B/P,Drs,Crs etc.

  • Answer:

    Strategic planning is must in order to tackle the uncertainty of availability and timing of funds.Therefore it is advisable to keep a portion of profits aside as Reserve to meet the future uncertainties and Invest such reserve in most viable option.Uncertainties are usually in the form of Contingent Liabilities.

  • Answer:

    Both the factors affect Capital strucure. If an investor is ready to take risk then he will invest in Equity where he can get capital appreciation. If he is willing to take less risk then he would go for Debentures,Bonds. Tax rate also affects capital structure.If Tax rate is higher than it might be possible that investor would not invest in such Company whereas if there is low rate of tax than fund raised by the company would be more.

  • Answer:

    1)Maximisation of Profits 2)Planned Approach to Expenditure 3)Facilitates Managerial Co-Ordination 4)Ensures Efficient Utilisation of Resources 5)Assist in Delegation of Authority 6)Deviations can be properly analysed and measures can be developed to overcome the same. 7)Method of Evaluating Performance.

  • Question: What is meant by deviation in controlling ?

    Posted in: Commerce Subjects | Date: 09/01/2018

    Answer:

    When Actual Results achieved by an organisation are different from the standards set by an organisation, it is termed as Deviation in controlling. Eg:- Standard expenses were 100rs whereas Actual expenses turned out to be 120rs then there is Deviation of 20rs

  • Answer:

    1)Poor Retention:- Only useful information is retained by the brain.So more than half of the information communicated is lost during retention process. 2)Lack of Attention:- when a person's mind is distracted,he may not be able to form the proper message or interpret the message thereby it results into lack of attention. 3)Distrust and Defensiveness:-Lack of trust between the communicators is a hindrance.The listener might ignore the message communicated to him as he has lack of trust in the communicator.

  • Answer:

    1)Improves Morale of Employees 2)Less Supervision 3)Fewer accidents at the workplace 4)Promotion 5)Increase in the Productivity

  • Answer:

    1)Restricted Choice 2)Inbreeding(The company does not give chance to fresh talents.) 3)Absence of competition 4)Conflict

  • Answer:

    1)Estimating Manpower Requirement 2)Recruitment 3)Selection 4)Placement and Orientation 5)Training and Development 6)Performance Appraisal

  • Answer:

    Functional structure consists of various functions such as purchase,sales,production,advertising etc. Divisional sturcture means the company is devided into small divisions,each division is self regulated.

  • Answer:

    Advantages 1)Self Sufficiency 2)Specialisation Disadvantages:- 1)Too much autonomy 2)Increased costs

  • Question: What is a divisional structure ?

    Posted in: Commerce Subjects | Date: 09/01/2018

    Answer:

    Divisional structure means the structure that consists of semi-autonomous units called as divisions.Divisions have control over day to day acitivites still they are answerable to the central authority.Especially, Multinational organisations make use of Divisional Structure.

  • Answer:

    MBA in finance,CFA or CS

  • Answer:

    MBA in finance,CS or CFA

  • Question: Discuss basic assumptions of Cost Volume Profit analysis.

    Posted in: Costing | Date: 09/01/2018

    Answer:

    1)All costs can be classifies as fixed and variable 2)costs will be linear within the relevant range 3)selling price remains constant irrespective of the volume 4)There is no significant change in the size of inventory

  • Question: Elaborate the practical application of Marginal Costing.

    Posted in: Costing | Date: 09/01/2018

    Answer:

    Application of Marginal costing 1)Profit Planning:- profit can be enhanced by increasing volume,Increasing SP,Decreasing FC or VC. 2)Evalation of performance:-CVP analysis helps in determining product or sector wise performance. 3)Make or Buy decision:-Marginal costing helps to decide whether particular product should be made within the organisation or it should be purchased.

  • Question: Write short notes on Angle of Incidence.

    Posted in: Costing | Date: 09/01/2018

    Answer:

    On the graph,when sales and total cost line intersect at Break Even Point, it is called as Angle of incidence.At that point there will be no profit and no loss.

  • Question: Describe the salient features of budget manual.

    Posted in: Costing | Date: 09/01/2018

    Answer:

    Budget manual is a document which sets out instructions that govern responsibilities of persons. Features:-1)Maximisation of profits 2)Helps in fixing up the responsibility 3)Problems can be easily detected and solved 4)Ensures efficient utilisation of resources 5)No or Less ambiguity

  • Answer:

    1)Organisational chart 2)Budget centre 3)Budget Manual 4)Budget Controller 5)Budget Committee 6)Budget Period 7)Budget Key Factor 8)Budget Reports

  • Answer:

    1)Availability of funds 2)Expected Returns 3)Government Regulation 4)Skills of personnel

  • Question: Explain the Essentials of budget.

    Posted in: Costing | Date: 09/01/2018

    Answer:

    Essentials:-1)statement expressed in monetary or physical units 2)Laid down prior to the budget period 3)prepared for definite future period

  • Question: Distinguish between Fixed and flexible budget

    Posted in: Costing | Date: 09/01/2018

    Answer:

    Fixed budget remains unchanged irrespective of the level of activity whereas Flexible budget keeps on changing depending upon the level of activity.Fixed budget incorporates only fixed costs whereas flexible budget incorporates Fixed,Variable and Semi-veriable cost.

  • Question: List the eight functional budgets prepared by a business.

    Posted in: Costing | Date: 09/01/2018

    Answer:

    1)sales budget 2)Production budget 3)Materials 4)Labour 5)Plant Utilisation 6)Overhead 7)Research and Development 8)Financial Budget 9)Cash budget

  • Question: Discuss the components of budgetary control system.

    Posted in: Costing | Date: 09/01/2018

    Answer:

    1)Budget centre 2)Budget manual 3)Budget controller 4)Budget Committee 5)Budget Period 6)Budget Key Factor

  • Question: Explain briefly the concept of ‘flexible budget’.

    Posted in: Costing | Date: 09/01/2018

    Answer:

    Flexible budget is designed to change as volume of output changes.It is a budget prepared to give budgeted cost for any level of activity.

  • Answer:

    Visit state specific website

  • Question: How to write Hindi in own

    Posted in: Hindi | Date: 09/01/2018

    Answer:

    Learn alphabets, do reading practice and then you will be able to write on your own

  • Answer:

    There are 12 languages that have same alphabets as that of Hindi

  • Question: What is the shortest poem ever written in Hindi Language?

    Posted in: Hindi | Date: 09/01/2018

    Answer:

    Pushp ki abhilasha

  • Answer:

    Carrier Launcher

  • Answer:

    Carrier launcher,King

  • Answer:

    Carrier launcher,king

  • Answer:

    Carrier launcher,king

  • Answer:

    Carrier launcher,King

  • Question: What is CLAT Exam all about?

    Posted in: CLAT | Date: 10/01/2018

    Answer:

    It is a national level examination in the field of law,on the basis of marks of this exam one can get admissions into Law colleges

  • Answer:

    Carrier launcher,King

  • Answer:

    You can learn it from YouTube

  • Answer:

    Practice writing difficult words,it will help you a lot.More you read,more your writing skills will improve.

  • Answer:

    Go for Wren and Martin

  • Answer:

    YouTube, www.vocabulary.com are good sites.

  • Question: Is TED useful for learning English?

    Posted in: Communicative English | Date: 10/01/2018

    Answer:

    Yes it is very useful

  • Answer:

    It is other way round.It is more important to learn conversational skills than grammar because grammatical mistakes can be tolerated whereas if you make mistake while communicating that makes the worst impression on the listener.

  • Question: Can you define organisation structure ?

    Posted in: Commerce Subjects | Date: 10/01/2018

    Answer:

    Organisational structure defines how activities such as task allocation,coordination and supervision are directed toward the achievement of organisational aims.

  • Question: Can you define the term "organising"?

    Posted in: Commerce Subjects | Date: 10/01/2018

    Answer:

    Organising refers to relationship between people,work and resources used to achieve common objectives.

  • Question: Can you explain any four features of planning ?

    Posted in: Commerce Subjects | Date: 10/01/2018

    Answer:

    1)It is futuristic 2)It is a continuous function 3)It is the primary function 4)It is a forward looking activity 5)It is a continuous activity

  • Answer:

    1)Fulfills social needs 2)Fast communication 3)Achieves organisational goals 4)positive influence on productivity Disadvantages:- 1)Lack of specialisation 2)Creates Rumours 3)Resistance to change

  • Answer:

    Meaning:-Formal organisation is one in which responsibility of each person is fixed whereas informal organisation is formed within formal organisation as a result of Interpersonal relationship. Creation:-Formal is created by Top level Management whereas Informal is created spontaneously by the members. Objective:- Formal is created to achieve organisational goals whereas Informal is created to satisfy social and psychological needs.

  • Answer:

    The formal organisation is an official set up.It clearly spells out what is the role of each job and position in the organisation.The main feature of formal organisation is well established structure of authority and responsibility.Therefore,it is easier to fix up responsibility in formal organisation.

  • Answer:

    1)No overlapping of work 2)Achievement of organisational goals 3)Systematic working 4)Co-ordination

  • Question: What is informal organisation ?

    Posted in: Commerce Subjects | Date: 11/01/2018

    Answer:

    Informal organisation is what exists within formal organisation created by employees in order to achieve their psychological and social needs.

  • Question: What is departmentalisation ?

    Posted in: Commerce Subjects | Date: 11/01/2018

    Answer:

    Departmentalisation is an aspect of organisational design that includes subdivision of a business into units based on their function or other criteria.

  • Question: When was thinking Indian Congress formed and by whom?

    Posted in: History | Date: 14/01/2018

    Answer:

    It was formed in the year 1885 by A.O.Hume

  • Question: What languages were common in first century Jerusalem?

    Posted in: History | Date: 14/01/2018

    Answer:

    Hebrew,Greek and Latin

  • Answer:

    Land means free gift of nature. Features:- 1)Free gift of nature 2)It is immobile 3)Primary factor of production 4)It is permenant in nature 5)It is a passive factor of production

  • Answer:

    Joint stock company is formed by way of registration. Here are the four aspects that enables to differentiate between company and partnership. Min no of partners required for commencing a business is 2 whereas min no of members required are 2 in private company whereas 7 in public company. There is existence of Mutual Agency between the partners but there is no such concept in the company. Partner is an agent of other partners whereas a member of a company is neither an agent of members nor that of the company or its directors. Partners have unlimited liability whereas members have limited liability.

  • Question: Define the term agent.

    Posted in: Commerce Subjects | Date: 22/01/2018

    Answer:

    Agent is a person who works for another person under his control,the later is called as Principal.Agent's authority and responsibility are decided by the Principal.

  • Answer:

    1) Employer-Employee relationship exists between principal and his agent 2)Agent gets remuneration for the work done by him in the form of salary or commission. 3)Agents authority and responsibility is decided by the principal appointing him,he cannot do things beyond his power otherwise he himself would be held liable.

  • Answer:

    He should take care of following 1)He should make sure that he has access to variety of goods 2)He should check the MRP(Maximum Retail Price) and ensure that the seller is not charging him more than the price printed on the product 3) He should ensure that quantity is proper 4)He should take care of warnings printed on the product. 5)He should make sure that the product is not tonnes 6)One should keep in mind allergy related warnings

  • Answer:

    Financial management means making effective and efficient use of money in order to achieve objectives of the organisation such as sales promotion,profit maximisation etc.The main objective of financial management is to maximise the wealth of shareholders i.e. to give them better returns.

  • Answer:

    1)Nature of Business 2)Scale of operation 3)Technique of production 4)Diversification 5)Growth aspect etc

  • Answer:

    The primary objective is wealth maximisation.It means to give away the better returns to the shareholders by way of dividend.

  • Question: What is meant by 'principles of management'?

    Posted in: Commerce Subjects | Date: 22/01/2018

    Answer:

    Principles of management are essential and pivotal principles of management that ultimately aids in successful management in an organisation. Henry fayol has laid down 14 principles of management such as Principle of subordination,scalar chain,command and so on.

  • Answer:

    1)It provides is agency services to the policyholder 2)They make money by investing the sum received from the insured 3)safeguard the business against losses 4)Risk management 5)Fiduciary relationship between insured and insurer

  • Answer:

    Working conditions provides for working hours,rest period,holidays etc of the employees.Service condition means terms of the service that is the conditions under which one has to work.Welfare measures means benefits given to the employees in the form of drinking facility,washroom facility,bonus etc.

  • Question: What are the characteristics of a factory?

    Posted in: Commerce Subjects | Date: 22/01/2018

    Answer:

    1)There must be premises 2)Manufacturing process must be carried on in such premises 3)There must be 10 or more workers where the process is carried on with the aid of power or 20 or more workers where it is carrier on without aid of power

  • Answer:

    1)Accepting deposits 2)Granting Loans 3)Providing Locker facility 4)Agency services such as making payment to parties 5)Acting as a Trustee etc

  • Question: What is meant by the term ‘Bank’?

    Posted in: Commerce Subjects | Date: 22/01/2018

    Answer:

    Bank is a financial institution that accepts deposit from the public and grants credit.It cultivates saving habits among people.Saving leads to investment and thereby results into Capital Creation.

  • Answer:

    Efficient handling of mail requires establishment of a definite procedure which are termed as steps of handling of mail. These steps are : Receiving the mail. Sorting the mail. Opening the mail. Scrutiny of the contents. Date stamping. Recording the mail. Distribution of mail. Follow up action.

  • Answer:

    1)Better Control: Using a proper set of machines facilitates a better control of work as it helps the subordinates to use them and complete the work, not only within the stipulated time but within the economy—with precision and accuracy. 2) Greater Efficiency: Machine brings about a speed and efficiency to all types of office work. The work that may take hours to finish may be finished in motion with their help. Improved efficiency leads to greater profitability and, at the same time, it creates a good image in the mind of the people who deal with the organisation. 3) Lower Cost of Operation: The operating cost per hour of work declines with the use of machines. Of course, there is no doubt that they require a large amount of initial capital investment. However, in the long run, they prove beneficial. 4)Better Quality of Work: Mechanisation and machine helps in improving the quality of the work done in the office. Not only the work will be neat but it will be more systematic.

  • Answer:

    Characteristics of Good filing system 1. Compactness: The compact filing system should be adopted by every business office. It means that the filing system should not require any unnecessary space. 2. Simplicity: The filing system should be simple and not too elaborate. At the same time, the usefulness of the filing system cannot be sacrificed for the sack of simplicity. 3. Accessibility: A good filing system should be arranged in such a way that the records are easily available whenever required. The filing system should allow the insertion of additional documents without disturbing the existing order of files. 4. Economy: The filing system should be economical in time, space, money and operations. The cost of installation and operation of filling system should be as low as possible. The selected filing equipment should occupy minimum space but can accommodate maximum number of files.

  • Question: What is meant by office set-up?

    Posted in: Commerce Subjects | Date: 22/02/2018

    Answer:

    Bizfluent What Is the Meaning of Office Layout? by R.L. Cultrona; Updated September 26, 2017 How you lay out your office areas can make your employee's working life better. Many people spend a majority of their time at work and inside an office. The office environment is one that can affect your employee's work productivity and is created by several different factors. As a business owner, you can directly impact this productivity with the overall feeling of your office. The office layout is an important part of your overall business culture. Determine the Needs of the Office The layout of the office space should reflect the needs of the employees. If your business is set up in such a way that each employee works separately, then you may want to set up several rows of cubicles which will provide privacy for your workers and allow you to maximize the use of the space. Companies where employees work in teams may benefit from a more open plan, where employees have the freedom to move around when needed. Essentials:- Make sure that the working environment has everything that your employees need to do their jobs. Hanging white boards and placing work tables in the open spaces can add a look of professionalism, but if your employees never use them, all they do is clutter up the space. Make sure that the only things that are in the work space will enhance your employees' jobs and keep the clutter to a minimum.

  • Answer:

    Role of Clearing and Forwarding Agents: Export-import procedures are very complex and time-consuming. Therefore, every exporter should avail the services of Clearing and Forwarding (C&F) agent who are expert and well versed with the customs and shipment procedures. For smooth and timely shipment of goods, the exporter must appoint a competent C&F agent who is able to, inter alia, provide the following services: Essential Services: (a) Transportation of goods to docks and arrangement of warehousing at port. (b) Warehousing facilities before the goods are transported to docks. (c) Booking of shipping space or air freighting and advice on relative cost of sending goods by sea and air. (d) Arrangement for loading of goods on board. (e) Equipped with information on shipping lines and freight to different destinations, and various charges payable by exporters. (f) Obtaining marine insurance policies. (g) Preparation and processing of shipping documents, Bills of Lading, Dock Receipt, Export Declarations, Consular Invoice, Certificate of Origin, etc. (h) Forwarding of banking collection papers. Desirable Services: (a) Storage facilities abroad, at least in major international markets, to warehouse the goods in case importer refuses to take delivery on any account. (b) Can trace the goods, if shipment goes astray, through his international connections. (c) Arrangement for assessing the damage to shipment enroute.

  • Answer:

    Management control can be defined as a systematic effort by business management to compare performance to predetermined standards, plans, or objectives in order to determine whether performance is in line with these standards and presumably in order to take any remedial action required 4 Steps of Control Process are; 1)Establishing standards and methods for measuring performance. 2)Measuring the performance. 3)Determining whether performance matches the standard. 4)Taking corrective action.

  • Answer:

    ROLE OF SSI:- 1. Small Scale Industries Provides Employment 1. SSI uses labour intensive techniques. Hence, it provides employment opportunities to a large number of people. Thus, it reduces the unemployment problem to a great extent. 2. SSI provides employment to artisans, technically qualified persons and professionals. It also provides employment opportunities to people engaged in traditional arts in India. 3. SSI accounts for employment of people in rural sector and unorganized sector. 4. It provides employment to skilled and unskilled people in India. 5. The employment capital ratio is high for the SSI. 2. SSI Facilitates Women Growth 1. It provides employment opportunities to women in India. 2. It promotes entrepreneurial skills among women as special incentives are given to women entrepreneurs. 3. SSI Brings Balanced Regional Development 1. SSI promotes decentralized development of industries as most of the small scale industries are set up in backward and rural areas. 2. It removes regional disparities by industrializing rural and backward areas and brings balanced regional development. 3. It promotes urban and rural growth in India. 4. It helps to reduce the problems of congestion, slums, sanitation and pollution in cities by providing employment and income to people living in rural areas. It plays an important role by initiating the government to build the infrastructural facilities in rural areas. 5. It helps in improving the standard of living of people residing in suburban and rural areas in India. 6. The entrepreneurial talent is tapped in different regions and the income is also distributed instead of being concentrated in the hands of a few individuals or business families. 4. SSI Helps in Mobilization of Local Resources 1. It helps to mobilize and utilize local resources like small savings, entrepreneurial talent, etc., of the entrepreneurs, which might otherwise remain idle and unutilized. Thus it helps in effective utilization of resources. 2. It paves way for promoting traditional family skills and handicrafts. There is a great demand for handicraft goods in foreign countries. 3. It helps to improve the growth of local entrepreneurs and self-employed professionals in small towns and villages in India. 5. SSI Paves for Optimisation of Capital 1. SSI requires less capital per unit of output. It provides quick return on investment due to shorter gestation period. The pay back period is quite short in small scale industries. 2. SSI functions as a stabilizing force by providing high output capital ratio as well as high employment capital ratio. 3. It encourages the people living in rural areas and small towns to mobilize savings and channelize them into industrial activities. 6. SSI Promotes Exports 1. SSI does not require sophisticated machinery. Hence, it is not necessary to import the machines from abroad. On the other hand, there is a great demand for goods produced by small scale sector. Thus it reduces the pressure on the country’s balance of payments. 2. SSI earns valuable foreign exchange through exports from India. 7. SSI Complements Large Scale Industries 1. SSI plays a complementary role to large scale sector and supports the large scale industries. 2. SSI provides parts, components, accessories to large scale industries and meets the requirements of large scale industries through setting up units near the large scale units. 3. It serves as ancillaries to large Scale units. 8. SSI Meets Consumer Demands 1. SSI produces wide range of products required by consumers in India. 2. SSI meets the demand of the consumers without creating a shortage for goods. Hence, it serves as an anti-inflationary force by providing goods of daily use. 9. SSI Ensures Social Advantage 1. SSI helps in the development of the society by reducing concentration of income and wealth in few hands. 2. SSI provides employment to people and pave for independent living. 3. SSI helps the people living in rural and backward sector to participate in the process of development. 4. It encourages democracy and self-governance. 10. Develops Entrepreneurship 1. It helps to develop a class of entrepreneurs in the society. It helps the job seekers to turn out as job givers. 2. It promotes self-employment and spirit of self-reliance in the society. 3. Development of small scale industries helps to increase the per capita income of India in various ways. 4. It facilitates development of backward areas and weaker sections of the society. Role of SSI in Indian Economy 1. Small Scale Industries Provides Employment 2. SSI Facilitates Women Growth 3. SSI Brings Balanced Regional Development 4. SSI Helps in Mobilization of Local Resources 5. SSI Paves for Optimisation of Capital 6. SSI Promotes Exports 7. SSI Complements Large Scale Industries 8. SSI Meets Consumer Demands 9. SSI Ensures Social Advantage

  • Question: Briefly explain the advantages of banking.

    Posted in: Commerce Subjects | Date: 22/02/2018

    Answer:

    Rapid growth and wide popularity of branch banking system in the 20th century are due to various advantages as discussed below. 1. Economies of Large Scale Operations: Under the branch banking system, the bank with a number of branches possesses huge financial resources and enjoys the benefits of large-scale operations, (a) Highly trained and experienced staff is appointed which increases the efficiency of management, (b) Division of labour is introduced in the banking operations which ensures greater economy in the working of the bank. Right persons are appointed at the right place and specialisation increases, (c) Funds are made available liberally and at cheaper rates, (d) Foreign exchange business is done economically, (e) Large financial resources and wider geographical coverage increases public confidence in the banking system. 2. Spreading of Risk: Another advantage of the branch banking system is the lesser risk and greater capacity to meet risks, (a) Since there is geographical spreading and diversification of risks, the possibility of the failure of the of the bank is remote, (b) The losses incurred by some branches may be offset by the profits earned by other branches, (c) Large resources of branch banks increase their ability to face any crisis. 3. Economy in Cash Reserves: Under the branch banking system, a particular branch can operate without keeping large amounts of idle reserves. In time of the need, resources can be transferred from one branch to another. 4. Diversification on Deposits and Assets: There is greater diversification of both deposits and assets under branch banking system because of wider geographical coverage, (a) Deposits are received from the areas where savings are in plenty, (b) Loans are extended in those areas where funds are scarce and interest rates are high. The choice of securities and investments is larger in this system which increases the. safety and liquidity of funds. 5. Cheap Remittance Facilities: Since bank branches are spread over the whole country, it is easier and cheaper to transfer funds from one place to another. Inter-branch indebtedness is more easily adjusted than inter-bank indebtedness. 6. Uniform Interest Rates: Under branch banking system, mobility of capital increases, which in turn, brings about equality in interest rates. Funds are transferred from areas with excessive demand for money to areas with deficit demand for money. As a result, the uniform rate of interest prevails in the whole area; it is prevented from rising in the excessive demand area and from falling in the deficit demand area. 7. Proper Use of Capital: There is proper use of capital under the branch banking system. If a branch has excess reserves, but no opportunities for investment, it can transfer the resources to other branches which can make most profitable use of these resources. 8. Better Facilities to Customers: The customers get better and greater facilities under the branch banking system. It is because of the small number of customers per branch and the increased efficiency achieved through large scale operations. 9. Banking Facilities in Backward Areas: Under the branch banking system, the banking facilities are not restricted to big cities. They can be extended to small towns and rural as well as underdeveloped areas,. Thus, this system helps in the development of backward regions of the country. 10. Effective Control: Under the branch banking system, The Central bank than have a more efficient control over the banks because it has to deal only with few big banks and nor with each individual branch. This ensures better implementation of monetary policy.

  • Answer:

    Adantages of short term financing:- Speed Short-term loans can be obtained much faster than long-term financing. Lenders do not make as thorough an examination of a company’s accounts for short-term lending as they do in the case of long-term loans. Small- and medium-size companies often do not have large cash reserves and are vulnerable to sudden financial shocks such as bankruptcy or of non-payment by a key debtor. Flexibility Small companies often have seasonal variations in cash flow and need access to capital over that period. Overdraft protection is a form of short-term finance where a bank agrees to pay a company’s checks, electronic debits, and cash withdrawals to a certain limit. The lender charges a fee for this facility and interest on any balance outstanding. The costs of long- term debt may be greater than those for such a short-term facility. Lenders can charge a premium if a debtor repays a long-term loan before its maturity. But the drawback to this kind of short-term finance flexibility is that the bank may withdraw the overdraft protection on short notice. Management Lenders who extend short-term financing do not involve themselves in company management or in the business’ decisions about capital investment. Long-term finance is accompanied by a number of provisions, such as limits on other financial arrangements or caps on the salaries of company principals, that restrict the business’ actions. Risk Market circumstances, such as a recession, may push small businesses into borrowing too heavily on a short-term basis. Short-term finance can be a serious risk for the borrower. A short-term loan may be renewed by the lender on much less favorable terms than the original contract. Not only is the business faced with the high cost of the capital, it may not be able to service the accumulated debt. This leaves the company in a weak position where it could face bankruptcy. Trade Credit Trade credit allows a company to buy materials and services and pay for them at an agreed later date. Although this eases the buyer’s cash position, he may be locked out of any discounts the seller may offer in return for immediate payment. The buyer may also have to cover his own non-payment risk by contracting a standby letter of credit from his own banker. This guarantees payment to the seller. But this will cost the buyer a further 1 percent to 8 percent of the face value of his contract with the seller.

  • Answer:

    Industry, commerce and trade are closely related to each other in a number of ways : Industry is related to the production of goods and services and commerce helps to distribute the goods and services produced by the industry to the final consumer. Industry and commerce are inter dependent on each other. They cannot survive in isolation as both are vital for each other. Commerce will be of no use in the absence of industry and industry cannot survive in the absence of commerce. Commerce is a creator of place utility and time utility and serves the backbone of industry, while industry provides the base for commerce. Trade is an integral part of commerce. It refers to the sale and purchase of goods and services. It provides a ground for commerce to play. It not only provides support to industry but also maintains a smooth flow of commerce at the same time.

  • Question: What is meant by planning?

    Posted in: Commerce Subjects | Date: 22/02/2018

    Answer:

    Definition of planning : the act or process of making or carrying out plans; specifically : the establishment of goals, policies, and procedures for a social or economic unit The steps involved in planning are: 1. Perception of Opportunities 2. Establishing Objectives 3. Planning Premises 4. Identification of Alternatives 5. Evaluation of Alternatives 6. Choice of Alternative Plans 7. Formulation of Supporting Plan 8. Establishing Sequence of Activities.

  • Question: What is the meaning of the term Insurance?

    Posted in: Commerce Subjects | Date: 22/02/2018

    Answer:

    Term insurance, a type of life insurance, provides coverage for a certain period of time or years. If the insured dies over the policy tenure a death benefit (or sum assured) is paid out. No payout is made if the insured survives the tenure. The purpose of taking life insurance is to provide life cover to the policyholder and financial security to his family. There are two ways the individual can take life insurance: 1. By opting for a pure life cover, also known as term insurance 2. By taking life cover with a savings component built-in,also called endowment insurance Why term insurance is better Term plans provide pure life cover. This means there is no savings / profits component. They are basic plans which make life insurance more affordable vis-à-vis other options. It is possible for the policyholder to opt for a larger life cover at a lower premium when compared to a similar endowment plan. Some of the key features that make term plans indispensable include 1. Larger life cover Since term life insurance plans are more affordable it is possible for an individual to opt for a higher life cover for the same premium as an endowment plan. For e.g. a 30-year old can get a term plan with a cover of Rs 1 crore for a 30-year term by paying a premium . The Rs 1 crore endowment plan will most likely out of bounds for most 30-year olds. However, taking a term plan for a similar cover is relatively more feasible. 2. Riders The policyholder can attach riders to the term plan, thereby enhancing the utility of the policy. So by opting for a critical illness rider or a critical illness plan, for instance, he is entitled to receive the sum assured on being diagnosed with the critical illness. This is in addition to the death benefit of an equal amount on death over the term of the policy. There are other riders to choose from like – loss of employment cover,disability cover, waiver of premium cover, among others. The policyholder should select riders based on his specific needs to make the life cover more suitable and meaningful. 3. Enhanced cover Certain insurance companies offer the flexibility to enhance the life cover during critical stages of the policyholder’s life. For instance, the policyholdermay be permitted to enhance life cover by 50% at the time of marriage and by 25% at the time of turning a parent. This makes it possible for him to start with a modest cover and then enhanceit as responsibilities increase as also the ability to pay higher premium. 4. Innovative features While insurance companies have been quick to innovate in general, they have been most innovative with regards term plans. For instance, companies have been quick and proactive in cutting premium rates even offering extra discounts to certain categories like non-smokers, for instance. Buying term plans is now quite convenient thanks to the internet. It is possible for a healthy individual, as defined by the insurer, to buy a term plan over the internet without taking a medical test.

  • Question: What is meant by ‘Self –employment ‘?

    Posted in: Commerce Subjects | Date: 22/02/2018

    Answer:

    Self-employed is a situation in which an individual works for himself instead of working for an employer that pays a salary or a wage. A self-employed individual earns his income through conducting profitable operations from a trade or business that he operates directly. Types of Self-Employment:- Independent contractors are people that businesses or individuals hire to do specific jobs. They receive payment only for the jobs that they do, and because they are not counted as employees, when they are working for clients, they do not receive benefits or worker's compensation. Additionally, equal opportunity laws do not apply to them, and their clients do not withhold taxes from their payments for work performed. Examples of independent contractors include doctors, lawyers and accountants who are in business for themselves. Sole proprietors are people who are the only owners of unincorporated businesses, while partnerships involve two or more self-employed people who form businesses together. Independent contractors, sole proprietors and partnerships often hire a small number of employees to help with their work. As of 2015, about 30% of the workforce in the United States is composed of self-employed people and their employees. The industries with the highest rates of self-employed people include agriculture, construction, and business and professional services.

  • Answer:

    Acrual concept is the most fundamental principle of accounting which requires recording revenues when they are earned and not when they are received in cash, and recording expenses when they are incurred and not when they are paid. GAAP allows preparation of financial statements on accrual basis only (and not on cash basis). This is because under accrual concept revenues and expenses are recorded in the period to which they relate and not when they are received or paid. Application of accrual concept results in accurate reporting of net income, assets, liabilities and retained earnings which improves analysis of the company’s financial performance and financial position over different periods. At the end of each reporting period, companies pass adjusting journal entries to record any accruals, for example accrual of utilities expense, interest expense, accrual of wages and salaries, adjustment of prepayments, etc. Examples The following examples elaborate the accrual concept. An airline sells its tickets days or even weeks before the flight is made, but it does not record the receipts as revenue because the flight, the event on which the revenue is based has not occurred yet. The airline journalizes receipt of cash as follows: Bank ABC Unearned revenue ABC Unearned revenue is a current liability which extinguishes when the flight is made. Unearned revenue Revenue An accounting firm obtained its office on rent and paid $120,000 on January 1 as annual rent. It does not record the payment as an expense because the building is not yet used. Instead it records the cash payment as prepaid rent (which is a current asset): Prepaid rent Bank The firm recognizes rent expense over the period. For example, in preparing its quarterly income statement on March 31, the firm expenses out three months' rent i.e. 30,00 (= $120,000/12 × 3] because 3 months equivalent of time has expired (from 1 January till 31 March). Rent expense Prepaid rent A business records its utility bills as soon as it receives them and not when they are paid, because the service has already been used. The company ignores the date when the payment will be made.

  • Answer:

    Reconciling the Bank balance Reconcile To bring (something) into a state of agreement or accord Getting two things to correspond Make compatible with To reconcile does not mean to adjust or to rectify. Reconciling a bank account implies ensuring that the bank account balance as per the Cash Book is agreeing with the balance as per the Pass (Bank) book after taking into consideration all the reasons for the difference in the balance. What is done in reconciling? In reconciling the bank balance, we consider the balance either as per the Cash Book or the Bank Pass Book and make adjustments to the same to account for the difference in the books and thereby check whether we get the balance as per the other book or not. If after taking into consideration all the reasons for the difference in balances as shown by both the books and making adjustments to the balance as shown by one of the books, we arrive at the balance as per the other book, then we assure ourselves that the balance as revealed by both the books is agreeing. Bank Balance appearing in the Balance Sheet The balance sheet of any organisation is a statement of ledger account balances (Personal, Real and some Nominal accounts) which have been carried over to the subsequent accounting period. The ledger account balances appearing in the Balance Sheet of an organisation would therefore be the balances of the ledger accounts balances in their books. Therefore, the Bank a/c balance as shown by the Cash Book would be the balance that appears in the balance sheet. The Bank Reconciliation Statement is an additional statement that is prepared to serve some purpose, i.e. to explain the reasons for difference in balance as shown by the cash book and pass book. The objective of preparing a BRS bank reconciliation statement is not to adjusting the figure in the balance sheet or the ledger account. In the Bank's Balance sheet, the balance in the customer account (as shown by the pass book) would find its way into the balance sheet.

  • Question: What is the meaning of Ledger ?

    Posted in: Commerce Subjects | Date: 22/02/2018

    Answer:

    Ledger:- Collection of an entire group of similar accounts in double-entry bookkeeping. Also called book of final entry, a ledger records classified and summarized financial information from journals (the 'books of first entry') as debits and credits, and shows their current balances. In manual accounting systems, a ledger is usually a loose leaf binder with a separate page for each ledger account. In computerized systems, it consists of interlinked digital files, but follows the same accounting principles as the manual system.

  • Question: What is the function of GT in calculator?

    Posted in: Accountancy | Date: 22/02/2018

    Answer:

    Abbreviation of Grand Total is GT,it helps in totalling up the amounts you have been adding on the calculator.For eg:- you typed 10 + 20 + 30 then if you press up the GT button then it would show 60.

  • Question: How do we calculate net sales?

    Posted in: Accountancy | Date: 22/02/2018

    Answer:

    Net sales are the amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any discounts allowed.

  • Question: How do we calculate the net cost?

    Posted in: Accountancy | Date: 22/02/2018

    Answer:

    Net cost is the gross cost of an object, reduced by any benefits gained from owning the object. Examples of net cost are: The gross cost of a machine, minus the margin on all goods produced with that machine.

  • Question: How do you calculate cash flow?

    Posted in: Accountancy | Date: 22/02/2018

    Answer:

    Cash flow of the business is calculated by adding up 1) Cash flow from Operating activities(I.e.Net money received by doing business) 2)Cash flow from Investing activities(I.e. Net money received by investing in shares or properties,gold and so on) 3) Cash flow from Financing activities(I.e. Net Money received/paid for Financing the business,paying to Shareholders ,Debenture holders for providing finance to the business)

  • Question: What is an annual salary?

    Posted in: Accountancy | Date: 23/02/2018

    Answer:

    An annual salary is the monetary compensation that an employee receives in exchange for working for a year or a period of time roughly equivalent to a year. Salaries are denominated in the local currency and do not include side benefits. In contrast to wages, salaries are determined on a chronological basis, meaning that they are paid based over a specific period, rather than on an hourly or piece basis.

  • Question: What is the net amount of an invoice?

    Posted in: Accountancy | Date: 23/02/2018

    Answer:

    The invoice cost is sometimes used in industries such as automobile sales to entice customers to buy. The net purchase cost of a product is the amount of the invoice plus any additional fees and taxes that are incurred.

  • Answer:

    Gross Salary: Gross Salary is employee provident fund (EPF) and gratuity subtracted from the Cost to Company (CTC). To put it in simpler terms, Gross Salary is the amount paid before deduction of taxes or other deductions and is inclusive of bonuses, over-time pay, holiday pay, and other differentials. Employee Provident Fund, in India, is an employee-benefit scheme prescribed by the Ministry of Labour which provides employees with facilities such as medical assistance, retirement, education for children, insurance support, and housing. The Employee Provident Fund Organisation (EPFO) has the authority to mandate policies on EPF, pension, and insurance schemes. The employer is required to contribute at least 12% of the employee’s salary towards his/her EPF. Furthermore, the employee can then withdraw the full amount accrued in his/her PF account at the time of retirement, which is when the employee attain the age of 55 years. In the occurrence of any of the following situations also, the employee can withdraw the amount accumulated in his/her PF account- Termination of services Retirement due to permanent disability Migration for taking employee abroad Net Salary or Take-Home Salary: Net salary, more commonly known as Take-Home Salary, is the income that the employee actually takes home once tax and other such deductions are carried over with. It refers to the in-hand figure that is calculated after deducting Income Tax at source (TDS) and other deductions as per the relevant company policy. Net Salary is Income Tax deductions, Public Provident Fund, and Professional Tax subtracted from gross salary, which means, Net Salary = Gross Salary (-) Income Tax (-) Public Provident Fund (-) Professional Tax

  • Answer:

    Gross profit is sales revenues minus the cost of goods sold. Net profit means all revenues minus all expenses including the cost of goods sold, the selling, general, and administrative (SG&A) expenses, and the nonoperating expenses.

  • Question: What are some examples of net income?

    Posted in: Accountancy | Date: 23/02/2018

    Answer:

    Examples would be Income after tax,income after paying Provident Fund,Income after Pension fund and so on.

  • Question: What is the difference between gross and net price?

    Posted in: Accountancy | Date: 23/02/2018

    Answer:

    Gross cost is the entire acquisition cost of an object. For example, when you buy a machine, the gross cost of the machine may include the following: + Purchase price of the equipment + Sales tax on the equipment + Customs charges (if acquired from another country) + Transportation cost + Cost of the concrete pad on which the machine is positioned + Equipment assembly cost + Cost of wiring to power the machine + Testing costs + Cost to train employees in how to use the machine = Gross cost Clearly, there can be an enormous number of ancillary costs that must be considered when aggregating gross costs. Another example of gross cost is a loan, where the gross cost to the borrower is both the principal and the cumulative amount of related interest to be paid. Net cost is the gross cost of an object, reduced by any benefits gained from owning the object. Examples of net cost are: The gross cost of a machine, minus the margin on all goods produced with that machine The gross cost of attending college, minus the incremental increase in earnings derived from obtaining a college degree The gross cost of office equipment, minus the salvage value that will be derived from its eventual sale Thus, the calculation of net cost can yield three possible outcomes, which are: The net cost equals the gross cost, which occurs when there are no offsetting gains from owning an object; The net cost is less than the gross cost, which is when the benefits do not entirely offset the gross cost; or The net cost is actually a gain, which is when the benefits exceed the amount of the gross cost

  • Answer:

    Dear,don't worry what others think of you.You are doing what everyone should do.Never take doubts to home.What others think,that really doesn't matter so ask your all the doubts and get it cleared,whenever they come to your mind.

  • Answer:

    4 hours a day for all subjects would be appropriate.Devote 1:30 hours towards maths,45mins for science,30mins for social studies,30mins for English,30mins for 2nd language(Hindi,Marathi).This would help you.

  • Question: What is the augmented product?

    Posted in: Business Organisation | Date: 23/02/2018

    Answer:

    An augmented product is a commodity that has both the primary physical attributes and the non-physical attributes that are added to increase the product's value. Non-physical attributes of an augmented product may include a product warranty, service or installation and may increase the price of the basic product being purchased, allowing the company selling the good to provide the consumer with other services that make using the product easier. Read more: Augmented Product https://www.investopedia.com/terms/a/augmented-product.asp#ixzz57wPqsdsf Follow us: Investopedia on Facebook

  • Answer:

    It is very important to know your target market as it helps you to know where you can maximise your sales and make good profits.

  • Question: What is tally accounting?

    Posted in: Accounts | Date: 23/02/2018

    Answer:

    Tally Accounting is a software used for accounting purposes. It is provided by Tally Solutions and is a standard business accounting software. Tally ERP is a very robust ERP product and is a complete business management solution. Tally is defined as record, count (as verb) or a record of debit and credit or an account.

  • Answer:

    INACTIVE AND DORMANT ACCOUNT If you have a current or a savings bank account and have not done any transactions through it for more than 12 months, then it will be classified as an inactive account. And if you don’t do any transactions from a bank account for 24 months, then it will be classified as dormant. As per Reserve Bank of India (RBI) guidelines, an account becomes dormant if a customer does not initiate transactions such as withdrawal of cash at a branch or automated teller machine (ATM), payment by cheque, transfer of funds through Internet banking, phone banking or ATMs. System generated transactions, such as interest credit, are not considered valid. However, if you get dividend on shares or the proceeds of your fixed deposit (FD) in your savings account, then it will be considered as a customer induced transaction. Hence, the account will be treated as operative as long as the dividend or FD proceeds is credited to bank account. It will be treated as inoperative only after two years from the date of the last credit entry of dividend or FD, provided there is no other customer induced transaction. Once your account is tagged as inactive, you won’t be able to request for a debit card or cheque book, use Internet banking or get user identity (ID) and password. And when it becomes a dormant account, besides the restrictions applicable on an inactive account, you won’t be allowed to change your address, contact number, email address, and do transactions through ATMs, Internet and phone banking. WHAT YOU SHOULD KNOW One can activate an inactive bank account by doing basic banking activities such as cash withdrawal or deposit, funds transfer or bill payment. Some banks give you the option to request for activation of your account through Internet banking. You can even call the customer care or contact the bank branch. In case of a dormant account, you may have to submit a written request along with identity proof. Your signature may also be verified to activate the account. Even after your account turns inactive or dormant, interest, if any, will be credited to your savings account regularly. And last year, the RBI had asked banks not to levy penal charges for non-maintenance of minimum balances in any inoperative account. From a tax point of you, remember that this year, while filing your income tax return, you have to give details of all your savings and current accounts including dormant and inactive ones. According to income tax laws, details of all bank accounts, excluding those that have been non-operational for over three years, held in India at any time during the previous year should be provided in the return.

  • Question: What is Service Tax or Excise?

    Posted in: Accounts | Date: 23/02/2018

    Answer:

    Definition: Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers. It is categorized under Indirect Tax and came into existence under the Finance Act, 1994. Description: In this case, the service provider pays the tax and recovers it from the customer. Service Tax was earlier levied on a specified list of services, but in the 2012 budget, its scope was increased. Services provided by air-conditioned restaurants and short term accommodation provided by hotels, inns, etc. were also included in the list of services. It is charged to the individual service providers on cash basis, and to companies on accrual basis. This tax is payable only when the value of services provided in a financial year is more than Rs 10 lakh. This tax is not applicable in the state of Jammu & Kashmir.

  • Question: In balance sheet, where do you show TDS?

    Posted in: Accounts | Date: 23/02/2018

    Answer:

    TDS or Tax deducted at Source can appear in both sides of the Balance Sheet, i.e. Assets or Liabilities. Asset Side : When TDS deducted by another person(payer) when paying to you(payee), it will be shown under Assets side of the Balance Sheet.

  • Question: What is balance sheet?

    Posted in: Accounts | Date: 23/02/2018

    Answer:

    A Balance Sheet is a statement of the financial position of a business which states the assets, liabilities, and owners' equity at a particular point in time. In other words, the balance sheet illustrates your business's net worth. The balance sheet is the most important of the three main financial statements used to illustrate the financial health of a business. The others are:

  • Answer:

    Types of business transactions In accounting, the transactions may be classified as: cash transactions and credit transactions internal transactions and external transactions

  • Question: Which accounting application you prefer most and why?

    Posted in: Accounts | Date: 23/02/2018

    Answer:

    Quick Books Online:- We realize that when you make a decision to buy Accounting Software it’s important not only to see how experts evaluate it in their reviews, but also to find out if the real people and companies that buy it are actually satisfied with the product. That’s why we’ve created our behavior-based Customer Satisfaction Algorithm™ that gathers customer reviews, comments and QuickBooks Online reviews across a wide range of social media sites. The data is then presented in an easy to digest form showing how many people had positive and negative experience with QuickBooks Online. With that information at hand you should be equipped to make an informed buying decision that you won’t regret.

  • Question: Can you name any other accounting application?

    Posted in: Accounts | Date: 23/02/2018

    Answer:

    Quick Books Online,Tipalti,Fresh Books etc

  • Answer:

    Email marketing and marketing automation icon-mailchimp-mobileMailChimp: I never hesitate to recommend MailChimp to anyone that needs to send email newsletters. The interface is great, the out-of-the box templates look professional, and you can start for free. And, as you grow, MailChimp has more sophisticated features that help you automate your marketing, without the complexity of other similar systems. Prices are fair and email tech support is excellent. HubSpot: If you need more advanced marketing automation (and you have a substantially bigger budget), the HubSpot solution is worth looking into. HubSpot does way more than just email marketing, but you don’t have to use all the features to get real value from the system. HubSpot can help you with landing pages, blogging, and email marketing. It has an excellent CRM baked into the entire system as well. Traffic and engagement SumoMe: It’s hard to categorize SumoMe, since they offer so much. At its core, SumoMe has a great suite of tools and options to help you gather email addresses from your website visitors. But, beyond email gathering, SumoMe can help you understand how people use your web pages with heat maps and content engagement metrics. You can also use their tools to add social sharing to your pages. Plus, all of this starts for free and tops out at $100/month. Other services charge thousands per month for just a fraction of the functionality that SumoMe offers. SEO:- It’s hard not to mention this free tool, which is part of Google’s Adwords toolset. Although it’s designed to help you build out paid advertising campaigns, Keyword Planner is an invaluable marketing tool to help you determine traffic levels for different search terms. If you’re trying to figure out what search terms you should target and how your audience is searching for things, this is the place to start. If you want to track how your company and your competitors are getting mentioned online, start with MOZ’s Fresh Web Explorer. This is a great way to keep tabs on where your company is getting new inbound links. You can track your competitors as well, and figure out where their links are coming from too. Beyond SEO, Fresh Web Explorer is simply a great research tool for any digital marketer. We actually like it better than Google Alerts, because it tells you more about the sites that mention and link to you. MOZ: MOZ has been our tool of choice for managing our search marketing—particularly SEO. From the members-only forum to the actual tools themselves, the MOZ toolset is an excellent choice for both beginners and experts.

  • Question: What is a durable consumer good?

    Posted in: Business Studies | Date: 23/02/2018

    Answer:

    Durable goods are a category of consumer products that do not need to be purchased frequently because they are made to last for a long time (usually lasting for three years or more). They are also called consumer durables.Examples:-Refrigerator, T.V.,washing machine and so on.

  • Question: What is an example of a specialty product?

    Posted in: Business Studies | Date: 23/02/2018

    Answer:

    A specialty product is a product that certain consumers will actively seek to purchase because of unique characteristics or loyalty to a specific brand. Consumers who seek specialty products know what they want and will spend the time and effort to get it. Typically, these consumers will not easily accept substitute products. For instance, you may seek out a specific brand of dark gourmet chocolate to the exclusion of all other types of candy.

  • Question: What is an example of a shopping good?

    Posted in: Business Studies | Date: 23/02/2018

    Answer:

    Shopping Goods Shopping is the activity of examination and selection of the goods or services from retailers with the intent to purchase at that time. The selection & purchasing is a result of a comparison of products based upon their suitability, quality, price, style and so on.. Examples are furniture’s, dresses, electronic items & appliances etc. Most of the shopping goods are durable. Some common features: Generally durable Generally high price in contrast with convenience goods. Comparison is main factor in making purchase decisions. Purchase is generally pre planned Retailers have very important role to play. Lets take a TV for example – Before buying a TV, a customer will have a look at all different brands, products and product features. Once the customer knows what kind of features he is looking for, he would compare the costing of each brand. Finally after he has been convinced of one particular product and its value for money, he will go ahead with the purchase.

  • Answer:

    commerce Exchange of goods or services for money or in kind, usually on a scale large enough to require transportation from place to place or across city, state, or national boundaries.

  • Answer:

    Functional foremanship is a management technique that spreads the duties of a traditional industrial foreman among several different individuals.

  • Answer:

    Features of Principles of Management Principles of Management are Universal Management principles are applicable to all kinds of organizations - business & non business. They are applicable to all levels of management. Every organization must make best possible use by the use of management principles. Therefore, they are universal or all pervasive. Principles of Management are Flexible Management principles are dynamic guidelines and not static rules. There is sufficient room for managerial discretion i.e. they can be modified as per the requirements of the situation. Modification & improvement is a continuous phenomenon in case of principles of management. Principles of Management have a Cause & Effect Relationship Principles of management indicate cause and effect relationship between related variables. They indicate what will be the consequence or result of certain actions. Therefore, if one is known, the other can be traced. Principles of Management - Aims at Influencing Human Behavior Human behavior is complex and unpredictable. Management principles are directed towards regulating human behavior so that people can give their best to the organization. Management is concerned with integrating efforts and harmonizing them towards a goal. But in certain situations even these principles fail to understand human behavior. Principles of Management are of Equal Importance All management principles are equally important. No particular principle has greater importance than the other. They are all required together for the achievement of organizational goals.

  • Answer:

    When a manufacturer selects some channel of distribution he/she should take care of such factors which are related to the quality and nature of the product. They are as follows: 1. Unit Value of the Product: When the product is very costly it is best to use small distribution channel. For example, Industrial Machinery or Gold Ornaments are very costly products that are why for their distribution small distribution channel is used. On the other hand, for less costly products long distribution channel is used. 2. Standardised or Customised Product:-Standardised products are those for which are pre-determined and there has no scope for alteration. For example: utensils of MILTON. To sell this long distribution channel is used. On the other hand, customised products are those which are made according to the discretion of the consumer and also there is a scope for alteration, for example; furniture. For such products face-to-face interaction between the manufacturer and the consumer is essential. So for these Direct Sales is a good option. 3. Perishability: A manufacturer should choose minimum or no middlemen as channel of distribution for such an item or product which is of highly perishable nature. On the contrary, a long distribution channel can be selected for durable goods. 4. Technical Nature: If a product is of a technical nature, then it is better to supply it directly to the consumer. This will help the user to know the necessary

  • Answer:

    The definition of business environment means all of the internal and external factors that affect how the company functions including employees, customers, management, supply and demand and business regulations. An example of a part of a business environment is how well customers' expectations are met.

  • Answer:

    divisional structure A type of organizational configuration that groups together those employees who are responsible for a particular product type or market service according to workflow. The divisional structure of a business tends to increase flexibility, and it can also be broken down further into product, market and geographic structures.

  • Answer:

    Definition of Coordination. Co-ordination is the unification, integration, synchronization of the efforts of group members so as to provide unity of action in the pursuit of common goals. It is a hidden force which binds all the other functions of management.

  • Answer:

    Features/Nature/Characteristic of Planning:- Planning contributes to Objectives: Planning starts with the determination of objectives. Planning is Primary function of management Pervasive Planning is futuristic/Forward looking Planning is continuous Planning involves decision making Planning is a mental exercise

  • Question: What is meant by principles of management?

    Posted in: Business Studies | Date: 23/02/2018

    Answer:

    The Principles of Management are the essential, underlying factors that form the foundations of successful management. According to Henri Fayol in his book General and Industrial Management (1916), there are fourteen 'Principles of Management'.

  • Question: What is meant by 'efficiency' in management?

    Posted in: Business Studies | Date: 23/02/2018

    Answer:

    Efficiency signifies a level of performance that describes a process that uses the lowest amount of inputs to create the greatest amount of outputs. Efficiency is a measurable concept that can be determined by determining the ratio of useful output to total input.

  • Question: Kindly define ‘Planning premises’.

    Posted in: Business Studies | Date: 23/02/2018

    Answer:

    According to Dr.G.R.Terry ,”planning premise are the assumptions providing a background against which the estimated events affecting the planning will take place

  • Answer:

    effectiveness The degree to which objectives are achieved and the extent to which targeted problems are solved. In contrast to efficiency, effectiveness is determined without reference to costs and, whereas efficiency means "doing the thing right," effectiveness means "doing the right thing."

  • Answer:

    Democratic leadership, also known as participative leadership or shared leadership, is a type of leadership style in which members of the group take a more participative role in the decision-making process.

  • Answer:

    OBJECTIVES OF INDUCTION Build confidence about self and the organization with in the new employee is one of the major objectives of the induction. This will makes the employee who recruited recently is become a productive one by reducing his/her anxiety that impedes ability to learn to do the job. Create the feeling of belongings and loyalty with in the new employee is another objective of the induction. Usually a new employee of the organization has little fear about his/her strengths at the beginning, because of the difference of the work culture and the environment. And if he/she signed a long appointment letter which was has all the rules and regulations then he/she might have some of frighten. That fear and the shy of new employee could change by a good induction program. Then he/she may feel that place like his/her home and will adapt to the organization in a short period. Familiarize the new employee with the jobs and the job environment with in a short time is another objective of the induction. If the new employee takes much more time to understand and adapt to organizational culture and environment, the organization will not have effective outcome from the new employee at the beginning as they expecting. To achieve the expecting level of the outcome, organization also need to support new employee form some kind of contributions. Induction programs and proper training and development programs could consider as that kind of contributions. When employee starts to think the organization as his own and he/she has a responsible to take care and contribution to development of the organization- that is the beginning of the feel of belongingness and loyalty. Loyal employee will give the maximum contribution of his/her to the profit/achievements of the organization.

  • Question: Define Induction training?

    Posted in: Business Studies | Date: 23/02/2018

    Answer:

    induction training Training provided to new employees by the employer in order to assist in adjustment to their new job tasks and to help them become familiar with their new work environment and the people working around them. This type of training will also outline the basic overview of the business and its services as well as the new employee's role in the environment.

  • Question: What do you understand by standing plans?

    Posted in: Business Studies | Date: 23/02/2018

    Answer:

    Standing plans are often policies, procedures and programs developed to ensure the internal operations of a given business are operating smoothly. Standing plans are often developed once and then modified to suit the business' needs as required.

  • Question: Can you help me to understand single use plans??

    Posted in: Business Studies | Date: 23/02/2018

    Answer:

    Single use plan means a set of activities aimed at achieving a specific goal within a particular budget and time period that is unlikely to be repeated in future. Examples of a single use plan that could be employed by a business might be an advertising campaign for a new product launch or an integration plan for a recent acquisition.

  • Question: Explain any three principles of Directing.

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    Important principles of directing: (1) Principle of Maximum Individual Contribution: According to this principle, management should adopt that directing policy through which the employees get motivated and give their maximum individual contribution for the achievement of organisational objective. principles of directing (2) Principle of Harmony of Objectives: According to this principle, there must be full coordination between organisational and individual objectives. Employees work in an organisation with an objective to get better remuneration, promotion, etc. On the other hand, organisational goal can be to earn more profits and to increase market share. Sometimes it is seen that there is a conflict between the objectives of both the parties, e.g., organisation wants that it should get a major share of profit whereas employees perceives that as they work directly on the job, so more profit must be shared among them in the form of bonus. Management here must establish coordination between the objectives of both the parties/factors by adopting suitable method of direction. (3) Principle of Unity of Command: According to this principle, a subordinate should get directions from one officer at a time. If the subordinate gets directions from more than one officer, the subordinate will be unable to priorities his work. As a result, situation of confusion, conflict and disarrangement is created. By following this principle, effective direction takes place. (4) Principle of Appropriateness of Direction Technique: According to this principle, appropriate direction techniques should be used, e.g., to supervise effectively, to provide able leadership, to adopt free communication and to motivate through right medium. (5) Principle of Managerial Communication: According to this principle, it should be monitored by the management that the subordinates get the same meaning for what has been said. This simplifies the job of the subordinates and they need not go to the managers repeatedly for enquiring. (6) Principle of Use of Informal Organisation: According to this principle, there must be a free flow of information between the seniors and the subordinates. The success of direction depends upon effective exchange of information to a great extent. Information should be given both through formal and informal mediums. Special attention should be given to the informal organisation. This strengthens the formal organisation. (7) Principle of Leadership: According to this principle, while giving directions to the subordinates a good leadership must be provided by the managers. By this, subordinates get influenced by the managers. In this situation, subordinates act according to the wish of the managers. (8) Principle of Follow Through: According to this principle, it must be monitored by management as to what extent the policies framed and issued directions have been enforced. Thus, it must be seen whether the employees are following the management or not. If yes, then to what extent. As per this principle, the job of managers is not to sit idle after framing policies or issuing directions but to continuously take feedback. The advantage of this will be that if there is any problem in implementing a policy or a direction it can be removed then and there.

  • Answer:

    Some of the major functions of marketing are as follows: 1. Selling 2. Buying and Assembling 3. Transportation 4. Storage 5. Standardization and Grading 6. Financing 7. Risk Taking 8. Market Information.

  • Answer:

    In case of a small-scale enterprise, the important factors determining the requirements of working capital are as follows:- Sales, Length of Operating Cycle, Nature of Business, Terms of Credit, Seasonal Variations, Turnover of Inventories, Nature of Production Technology, Contingencies.

  • Answer:

    Methods of issuing securities in the primary market are:  Initial public offering;  Rights issue (for existing companies);  Preferential issue .

  • Question: Define primary market.

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    The primary market is the part of the capital market that deals with issuing of new securities.In a primary market, companies, governments or public sector institutions can raise funds through bond issues and corporations can raise capital through the sale of new stock through an initial public offering (IPO).

  • Question: State any three features of a good brand name.

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    A good brand name should have following characteristics: It should be unique / distinctive (for instance- Kodak, Mustang) It should be extendable. It should be easy to pronounce, identified and memorized. It should give an idea about product's qualities and benefits (For instance- Swift, Quickfix, Lipguard).

  • Answer:

    The steps in the planning process are: Develop objectives. Develop tasks to meet those objectives. Determine resources needed to implement tasks. Create a timeline. Determine tracking and assessment method. Finalize plan. Distribute to all involved in the process.

  • Answer:

    Impacts of Government Policy The New Industrial Policy, 1991 brought reforms in terms of Liberalisation, Globalisation and Privatisation. These had a major impact on the working of enterprises in business and industry. These have posed several challenges to the Indian corporate sector. They are: Increasing competition More demanding customers Rapidly changing technological environment Need for developing human resources Market orientation Necessity for change Loss of budgetary support to public sector

  • Question: Give meaning of the term ‘Deviation’ .

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    deviation General: Departure from an agreed-upon course, design, mean, or method. Contracting: Variance from a requirement or specification that does not alter the basis of a contract or adversely affects its performance. See also tailoring. Shipping: Deviation of a shipment from its set-route amounts to a fundamental breach of contract of carriage, and usually imposes certain penalties on the carrier. Statistics: Variation among the values of a data set when compared with a measure of central tendency such as the mean, median, or mode.

  • Answer:

    1. Science, Not Rule of Thumb: In order to increase organisational efficiency, the ‘Rule of Thumb’ method should be substituted by the methods developed through scientific analysis of work. Rule of Thumb means decisions taken by manager as per their personal judgments. According to Taylor, even a small production activity like loading iron sheets into box cars can be scientifically planned. This will help in saving time as well as human energy. Decisions should be based on scientific enquiry with cause and effect relationships. This principle is concerned with selecting the best way of performing a job through the application of scientific analysis and not by intuition or hit and trial methods. The work assigned to any employee should be observed and analyzed with respect to each element or part thereof and the time involved therein so as to decide the best way of performing that the work and to determine the standard output for same. 2. Harmony, Not Discord: Taylor emphasized that there should be complete harmony between the workers and the management since if there is any conflict between the two, it will not be beneficial either for the workers or the management. Both the management and the workers should realize the importance of each other. In order to achieve this state, Taylor suggested complete mental revolution on the part of both management and workers. It means that there should be complete change in the attitude and outlook of workers and management towards each other. It should always be kept in mind that prosperity for an employer cannot exist for a long time unless it is accompanied by the prosperity of the employees of that organisation and vice versa. It becomes possible by (a) sharing a part of surplus with workers (b) training of employees, (c) division of work (d) team spirit (e) positive attitude (f) sense of discipline (g) sincerity etc. Management should always be ready to share the gains of the company with the workers and the latter should provide their full cooperation and hard work for achieving organizational goals. Group action with mutual-trust and understanding should be perfect understanding the focus of working. This principle requires that there should be perfect understanding between the management and workers and both should feel that they are part of same family. It helps to produce synergy effect since both management and workers work in unison. For example, in most of the Japanese companies, paternalistic style of management is in practice and there is complete openness between workers and the management. Usually, workers don’t go on the strike but, if at all they do so, they just wear a black badge and work even more than the normal hours just to impress upon the management that their focus is on their demands as well as organisational objectives. 3. Mental Revolution: The technique of Mental Revolution involves a change in the attitude of workers and management towards each other. Both should realize the importance of each other and should work with full cooperation. Management as well as the workers should aim to increase the profits of the organisation. For this the workers should put in their best efforts so that the company makes profit and on the other hand management should share part of profits with the workers. Thus, mental revolution requires a complete change in the outlook of both management and workers. There should be a spirit of togetherness between workers and management. 4. Cooperation, Not Individualism: This principle is an extension of principle of ‘Harmony, not discord’ and lays stress on mutual cooperation between workers and the management. Cooperation, mutual confidence, sense of goodwill should prevail among both, managers as well as workers. The intention is to replace internal competition with cooperation. Both ‘Management’ and ‘Workers’ should realize the importance of each other. Workers should be considered as part of management and should be allowed to take part in decision making process of the management. Management should always welcome their suggestions and should also reward them if their suggestions prove to be beneficial for the organisation viz. reduction of costs or increase in production etc. At the same time, workers should also resist from going on strike or making unnecessary demands from management. Workers should be treated as integral part of organisation and all important decisions should be taken after due consultation with workers. Both of them should visualize themselves as two pillars whose soundness alone can ensure achievement of common goals of the organisation. Taylor also suggested that there should be proper division of work and responsibility between the two. Management should always guide, encourage and help the workers. 5. Development of each and every person to his or her greatest efficiency and prosperity: Efficiency of any organisation also depends on the skills and capabilities of its employees to a great extent. Thus, providing training to the workers was considered essential in order to learn the best method developed through the use of scientific approach. To attain the efficiency, steps should be taken right from the process of selection of employees. Employees should be scientifically selected. The work assigned to each employee should suit his/her physical, mental and intellectual capabilities. Efficient employees produce more to earn more. This ultimately helps to attain efficiency and prosperity for both organisation and the employees.

  • Question: What is meant by ‘Fixed capital’?

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    fixed capital That is employed in assets of durable nature for repeated use over a long period. Also called fixed investment.

  • Question: What is meant by ‘Working Capital’?

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    working capital The cash available for day-to-day operations of an organization. Strictly speaking, one borrows cash (and not working capital) to be able to buy assets or to pay for obligations. Also called current capital. Accounting: Net liquid assets computed by deducting current liabilities from current assets. The amount of available working capital is a measure of a firm's ability to meet its short-term obligations. Sources of working capital are (1) net income, (2) long-term loans, (3) sale of capital assets, and (4) injection of funds by stockholders. Ample working capital allows management to take advantage of unexpected opportunities, and to qualify for bank loans and favorable trade credit terms.

  • Answer:

    Steps involved in the process of staffing of an organization are: 1. Estimating Manpower Requirements 2. Recruitment 3. Selection 4. Placement and orientation 5. Training and Development 6. Performance Appraisal 7. Promotion 8. Compensation 9. Separation.

  • Answer:

    A functional organization is a common type of organizational structure in which the organization is divided into smaller groups based on specialized functional areas, such as IT, finance, or marketing.

  • Answer:

    Consumer Responsibilities: To be aware of his/her rights in all aspects of consumption. To verify the source of goods by reading the particulars of the country of origin. To look for the specifications of the good he/she wishes to buy. To comply with the health rules that make the item or product fit for use, and to follow instructions before using such items or products, such as washing fruits and vegetables well and boiling milk and cheese before consumption. To abide by the instructions that are affixed on the packet or offer, and apply it as instructed, especially when it comes to the storage and preservation method and conditions. Not to purchase materials, products or goods from street vendors. Not to be tempted by misleading advertisements. To read the content of the goods warranty card before purchasing. To examine the goods and ensure they are defect-free before leaving the shop. To verify the date of expiry for the goods, materials or medicine before purchasing and refrain from using expired items. To make sure that the prices of items purchased are reasonable, either by checking the market prices, or based on his/her purchasing experience, or by comparing the quality of the product or service with its price. To change the consumption behaviour in all aspects by specifying the items to be consumed and avoiding stockpiling of items for a long time, or keeping them in unsuitable containers. Also, to refrain from wasting food and other items that mostly end up in garbage bins. To request proper receipt/bill from the shopkeeper. To cooperate with the consumer protection authorities by reporting any wrongdoing or fraud.

  • Answer:

    BASIS FOR COMPARISON DELEGATION DECENTRALIZATION Meaning Delegation means handing over an authority from one person of high level to the person of low level. Decentralization is the final outcome achieved, when the delegation of authority is performed systematically and repeatedly to the lowest level. What it is? Technique of management Philosophy of management. Accountability Superiors are accountable for the acts done by subordinates. Department heads are accountable for the acts of the concerned department. Requirement Yes, for all organization delegation of authority is very necessary. No, it is an optional philosophy which may or may not be adopted by the organization. Liberty of Work Subordinates do not have full liberty. A substantial amount of freedom is there. Control The ultimate control is the hands of superior. The overall control vests with top management and delegates authority for day to day control to departmental heads. Relationship Creates superior-subordinate relationship. A step towards creation of semi-autonomous units.

  • Answer:

    Product is the concept of the phisical or intangible thing that is going to be marketed, that is divided into three major (with subdivisions each) concentric circles. 1) Simple Product: What it is, color, substance, characteristics, need that satisfies. 2) Real Product: Packaging, image, advertising, public personality, shape, colors, semiology of all the above. 3) Amplified Product: all the differential advantages, as in guarantees, service, customer atention, etc. Production on the other hand is the methods, processes and organization to develop and massively construct or build the product. If its intangible this is just the same, only that is "just in time" either way processes must be desinged prior to the sale.

  • Answer:

    In case of a small-scale enterprise, the important factors determining the requirements of working capital are as follows:- Sales, Length of Operating Cycle, Nature of Business, Terms of Credit, Seasonal Variations, Turnover of Inventories, Nature of Production Technology, Contingencies.

  • Answer:

    The steps in the planning process are: Develop objectives. Develop tasks to meet those objectives. Determine resources needed to implement tasks. Create a timeline. Determine tracking and assessment method. Finalize plan. Distribute to all involved in the process.

  • Question: What is meant by ‘Induction Training’?

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    Induction Training:- Training provided to new employees by the employer in order to assist in adjustment to their new job tasks and to help them become familiar with their new work environment and the people working around them. This type of training will also outline the basic overview of the business and its services as well as the new employee's role in the environment.

  • Question: Give the meaning of ‘Promotion Mix’?

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    Promotion Mix:- A specific combination of promotional methods used for one product or a family of products. Elements of a promotion mix may include print or broadcast advertising, direct marketing, personal selling, point of sale displays, and/or merchandising.

  • Question: State the objective of financial management.

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    Objectives of Financial Management:-The financial management is generally concerned with procurement, allocation and control of financial resources of a concern. The objectives can be:- 1)To ensure regular and adequate supply of funds to the concern. 2)To ensure adequate returns to the shareholders which will depend upon the earning capacity, market price of the share, expectations of the shareholders. 3)To ensure optimum funds utilization. Once the funds are procured, they should be utilized in maximum possible way at least cost. 4)To ensure safety on investment, i.e, funds should be invested in safe ventures so that adequate rate of return can be achieved. 5)To plan a sound capital structure-6)There should be sound and fair composition of capital so that a balance is maintained between debt and equity capital.

  • Question: What is meant by financial market?

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    A financial market is a market in which people trade financial securities, commodities, and value at low transaction costs and at prices that reflect supply and demand. Securities include stocks and bonds, and commodities include precious metals or agricultural products.

  • Question: What is meant by ‘Consumer Protection’?

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    It means the protection of buyers of goods and services against low quality or dangerous products and advertisements that deceive people

  • Answer:

    Price Determination: 6 Factors Affecting Price Determination of Product Article shared by : Main factors affecting price determination of product are: 1. Product Cost 2. The Utility and Demand 3. Extent of Competition in the Market 4. Government and Legal Regulations 5. Pricing Objectives 6. Marketing Methods Used. 1. Product Cost: The most important factor affecting the price of a product is its cost. Product cost refers to the total of fixed costs, variable costs and semi variable costs incurred during the production, distribution and selling of the product. Fixed costs are those costs which remain fixed at all the levels of production or sales. For example, rent of building, salary, etc. Variable costs refer to the costs which are directly related to the levels of production or sales. For example, costs of raw material, labour costs etc. Semi variable costs are those which change with the level of activity but not in direct proportion. For example, fixed salary of Rs 12,000 + upto 6% graded commission on increase in volume of sales. The price for a commodity is determined on the basis of the total cost. So sometimes, while entering a new market or launching a new product, business firm has to keep its price below the cost level but in the long rim, it is necessary for a firm to cover more than its total cost if it wants to survive amidst cut-throat competition. 2. The Utility and Demand: Usually, consumers demand more units of a product when its price is low and vice versa. However, when the demand for a product is elastic, little variation in the price may result in large changes in quantity demanded. In case of inelastic demand, a change in the prices does not affect the demand significantly. Thus, a firm can charge higher profits in case of inelastic demand. Moreover, the buyer is ready to pay up to that point where he perceives utility from product to be at least equal to price paid. Thus, both utility and demand for a product affect its price. 3. Extent of Competition in the Market: The next important factor affecting the price for a product is the nature and degree of competition in the market. A firm can fix any price for its product if the degree of competition is low. However, when the level of competition is very high, the price of a product is determined on the basis of price of competitors’ products, their features and quality etc. For example, MRF Tyre company cannot fix the prices of its Tyres without considering the prices of Bridgestone Tyre Company, Goodyear Tyre company etc. 4. Government and Legal Regulations: The firms which have monopoly in the market, usually charge high price for their products. In order to protect the interest of the public, the government intervenes and regulates the prices of the commodities for this purpose; it declares some products as essential products for example. Life saving drugs etc. 5. Pricing Objectives: Another important factor, affecting the price of a product or service is the pricing objectives.

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    Central Location A warehouse provides a central location for receiving, storing and distributing products. As each inbound shipment arrives, responsibility for the goods transfers to warehouse personnel, products are identified, sorted and dispatched to their temporary storage location. Storage isn’t a static “thing” but rather a process that includes security measures and maintaining an environment that preserves the integrity and usefulness of the items. Once it’s time to move items, each order is retrieved, grouped, packaged and checked for completeness before being dispatched to their new destination. Value-Adding Operation The objective of a logistics system is to reduce cycle times and overall inventories, lower costs and most importantly, improve customer service. Warehousing increases the utility value of goods by providing a means to have the right products available at the right place in the right time. Operations such as order consolidation, order assembly, product mixing and cross-docking that take place within the warehouse structure also add value to the overall logistics system. Economic Benefits Warehouses provide a economies of scale through efficient operations, storage capacity and a central location. Economic benefits are realized, for example, through consolidation and accumulation operations. Consolidation operations cut outbound delivery costs for both the business and its customers. Instead of shipping items individually from multiple sources, items are delivered to a central warehouse, packaged together and shipped back out as a complete order. Accumulation operations allow a warehouse to act as a buffer, balancing supply and demand for seasonal and long-term storage. This can be vital to business profitability when demand for a product is year-round but the product may only be available at certain times of the year. Service Benefits Warehouses can serve as part of a contingency plan to ensure outbound orders are filled in full and on time. A practice called safety stocking allows businesses to maintain a predetermined number of inventory items at its warehouse. On the inbound side, safety stocking means that an emergency such as a transportation delay or a shipment containing defective or damaged goods won’t delay filling and shipping customers order. On the outbound side, safety stocking is insurance against out-of-stock items.

  • Question: Can you please tell me what is promotion mix?

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    Promotion Mix:- A specific combination of promotional methods used for one product or a family of products. Elements of a promotion mix may include print or broadcast advertising, direct marketing, personal selling, point of sale displays, and/or merchandising.

  • Answer:

    Key Result Areas refer to general areas of outputs or outcomes for which the department's role is responsible. Key Performance Areas are the areas within the business unit, for which an individual or group is logically responsible. .Hope the post is able to explain the concept of KRA and KPA.

  • Answer:

    Personal Sender Barriers Message senders often have experiences, feelings or personal prejudices that impact communication. The College of Marin website indicates insufficient subject matter knowledge is a primary personal barrier to effective message delivery. When you try to talk about something you don't know very well, it is difficult for a listener to fully comprehend your meaning. Emotions also get in the way. When you are sad, angry or frustrated, for instance, you may say things you otherwise wouldn't. Your emotions can also distract the listener from your words. If you are angry and say something like, "You never listen to me," the listener may become defensive, which negatively affects clarity. Personal Receiver Barriers Listeners are also affected by personal filters. Emotional interference gets in the way of your ability to receive and understand a message, for instance. A feeling of anger toward someone makes it difficult to listen objectively to a message. Sadness may cause you to ignore consoling messages. Culture is another barrier. Even with clear language, a listener may interpret the meaning of a message out of context. Listeners also struggle with information overload, which occurs when a sender presents too many thoughts in a short period of time. Rather than catching all of the message, the overwhelmed listener may not retain any of it. Prejudice against a speaker can also impact message reception.

  • Answer:

    A gossip protocol is a procedure or process of computer-computer communication that is based on the way social networks disseminate information or how epidemics spread. It is a communication protocol.

  • Answer:

    Non-financial incentives are the types of rewards that are not a part of an employee’s pay. Typically, they cost the company little or no money, yet carry significant weight. Incentives of this nature are particularly effective for workers who are comfortable with their salaries or have been in the position for a long time. As companies continue to make cuts to employee compensation, non-financial incentives for employees are more crucial than ever.

  • Answer:

    Vestibule Training:- A method of job education where educational facilities approximate real working conditions and are equipped with actual production machinery. In a typical vestibule training situation used by a manufacturing business, less than ten trainees would be supervised by one skilled trainer, and the training provided simulates on the job training without compromising production speed or quality.

  • Question: How can you help to define job rotation?

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    job rotation:- A job design technique in which employees are moved between two or more jobs in a planned manner. The objective is to expose the employees to different experiences and wider variety of skills to enhance job satisfaction and to cross-train them.

  • Answer:

    Advertisement in Newspapers: Employment Exchanges: Field Trips: Educational Institutions: Labour Contractors: Employee Referrals: Telecasting: Direct Employment or Recruitment Notice at Factory Gate.

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    Advantages:- Divisions work well because they allow a team to focus upon a single product or service, with a leadership structure that supports its major strategic objectives. Having its own president or vice president makes it more likely the division will receive the resources it needs from the company. Also, a division's focus allows it to build a common culture and esprit de corps that contributes both to higher morale and a better knowledge of the division's portfolio. This is far preferable to having its product or service dispersed among multiple departments through the organization.

  • Answer:

    Accountability is an assurance that an individual or an organization will be evaluated on their performance or behavior related to something for which they are responsible. ... Corporate accountability involves being answerable to all an organization's stakeholders for all actions and results.

  • Question: What is delegation of authority?

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    Delegation of Authority means division of authority and powers downwards to the subordinate. Delegation is about entrusting someone else to do parts of your job. Delegation of authority can be defined as subdivision and sub-allocation of powers to the subordinates in order to achieve effective results.

  • Answer:

    departmentalization Manner or practice in which related individual tasks and their allocation to work groups is combined, to form a specialized functional area that is distinct from other functional areas in an organization.

  • Answer:

    Budget:- An estimate of costs, revenues, and resources over a specified period, reflecting a reading of future financial conditions and goals. One of the most important administrative tools, a budget serves also as a (1) plan of action for achieving quantified objectives, (2) standard for measuring performance, and (3) device for coping with foreseeable adverse situations.

  • Question: Please explain what is a business environment.

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    Business Environment:- The combination of internal and external factors that influence a company's operating situation. The business environment can include factors such as: clients and suppliers; its competition and owners; improvements in technology; laws and government activities; and market, social and economic trends.

  • Question: What are the objectives behind 'motion study'

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    1. They eliminate unnecessary motions, fatigue, and seek to improve human efforts in doing a job. 2. They bring about improvement in method, procedure, techniques and processes relating to a job. 3. They make effective utilisation of materials, machines, human resources.

  • Question: Can you kindly define unity of command?

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    Unity of command is a classic principle of management that is used in many hierarchical organizations, such as the military, government agencies, and corporations. Unity of command holds that an employee should only be answerable to one person.

  • Question: Please explain scientific management.

    Posted in: Business Studies | Date: 24/02/2018

    Answer:

    In simple words, scientific management implies the art of knowing exactly what is to be done and how it is to be done. Under this approach, scientific techniques are applied in the recruitment, selection and training of workers and are also used in tackling various industrial problems.

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    Flexibility: Management principles can be applied differently under different conditions. Some changes can be made in application of principles according to the requirement of the company. These are not set of rigid statements. These can be modified by the managers who are using them. For example, the principle of centralisation insists on concentration of power and authority at top level but the extent and degree of centralisation may vary according to nature of organisation and centralisation does not mean total centralisation, there can be use of decentralisation at lower level if organisation demands it.

  • Question: Main function of a leaf is to______.

    Posted in: Biology | Date: 20/09/2020

    Answer:

    The main function of the leaf is to carry out photosynthesis.

  • Question: Find the capitalized value.

    Posted in: Accountancy,Commerce Subjects | Date: 21/09/2020

    Answer:

    The profits after adjustments will be (15,000),90,000 and 45,000 so the Average profit of 3years will be 40,000 and Goodwill will be 40,000 * 2 i.e. 80,000.

  • Question: Find the capitalized value.

    Posted in: Accountancy,Commerce Subjects | Date: 21/09/2020

    Answer:

    The profits after adjustments will be (15,000),90,000 and 45,000 so the Average profit of 3years will be 40,000 and Goodwill will be 40,000 * 2 i.e. 80,000.

  • Question: Find the capitalized value.

    Posted in: Accountancy,Commerce Subjects | Date: 21/09/2020

    Answer:

    The profits after adjustments will be (15,000),90,000 and 45,000 so the Average profit of 3years will be 40,000 and Goodwill will be 40,000 * 2 i.e. 80,000.

  • Answer:

    Ramesh A/c Dr.. To Bank A/c (Being bank charges imposed.)

  • Answer:

    There is no limit you can give as many attempts as you want.

  • Question: How many minimum members are in partnership business?

    Posted in: Accountancy | Date: 21/10/2020

    Answer:

    Minimum two partners are required to form a partnership firm

  • Question: Meaning of classifying in accounting

    Posted in: Accountancy | Date: 21/10/2020

    Answer:

    Classifying accounts means bifurcation of accounts into personal, real and nominal accounts.

  • Question: How can we control weeds?

    Posted in: Computer Science,Accountancy | Date: 21/10/2020

    Answer:

    Kill the weeds at their root. Mind the gap between the plants and follow such other practices as may be necessary.

  • Question: Adminstrative functions of high court

    Posted in: Administrative Laws | Date: 21/10/2020

    Answer:

    Appointment of judges, Tenure of judges, salary and allowances

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