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Division of labour depends on the size of market because if the size of market is small then complex division of labour in not required but if size of market is large more demand has to be fulfilled then division of labour will result in increase in efficiency and reduction in cost.

Producer incur high selling cost in imperfect market because of presence of competition they want to edge over the others by incurring selling cost or expenditure on sales promotion.

(a) The bank which has sole authority to issue currency in India is cantral bank, in India (RBI as central bank). The three ways by which it differs from a commercial bank are as follows:

(b) Money is defined as “Anything which is commonly used as generally accepted, as a medium of exchange or as a standard of value, like metallic coins, paper money, and deposit money. It functions as:

1. As a measure of value: Money is accepted as a measure of value or unit of account. Under the barter system, the price of a commodity were expressed in terms of other commodity. 

2. As a standard of deferred payments: Money acts as a standard of deferred payments. It means payment to be made in future can be expressed in terms of money.

An interview is a meeting between two or more persons(one is interviewer and the other is interviewee) for the purpose of getting a view of the person seeking a job (interviewee). It is a face to face communication, how ever, now-a-days, some companies are interviewing the potential candidates by way of video conferencing. 

Advantages of the interview method: 

• Very good technique for getting the information about the complex, emotionally laden subjects. 

• Can be easily adapted to the ability’ of the person being interviewed. 

• Yields a good percentage of returns. 

• Yields perfect sample of the general population. 

• Data collected by this method is likely to be more correct compared to the other methods . that are used for the data collection. 

Disadvantages of the interview method: 

• Time consuming process. 

• Involves high cost. 

• Requires highly skilled interviewer. 

• Requires more energy. 

• May sometimes involve systematic errors. 

• More confusing and a very complicated method.

Functions of business letters-

Wide Coverage : A business firm cannot sent its representatives to each and every area of operation. It can approach the persons and other firms through letters. 

Exchange of Information : Business firms can exchange information with various parties with the help of letters. They can obtain crucial , information from other firms with regard to credit worthiness of other parties. 

Documentary Proof : Letters serve as documentary proof. Letters can be used as a documentary evidence in the Court of Law. 

Economical: Letters are the economical way of written communication. A message on pages (up to 20 gm) can be send in merely Rupees 5 envelope all over India. 

Lasting Impact : Letters have long lasting impact on the readers. A verbal message may be misleading, but a written letter clears the complete picture.

Business Reply Card : These cards (may be envelopes or postcards) which are used by business firms to seek a reply from the target customer. The target customer may be a subscriber of any membership of the firm or purchaser of some goods or services. For the purpose, a business firm has to obtain a license from the Local Post Office by paying necessary fee. These business postcards do not bear any postage stamps and bears printed address of the address (company) on it. Customer can send their reply/ subscriptions etc. in them. 

Postal Order : A postal order is an order issued by one post office on another to pay a certain sum of money to the payee on production of the order. Postal orders can be . purchased in different denominations from post offices. It can be crossed also. It is valid for 6 months and can be renewed on payment of a nominal fee for another 6 months.

(i) GPO — General Post Office 

(ii) UPC — Under Postal Certificate

144, AJC Bose Road 

Kolkata – 700014 

24th April, 2011

To

Mrs Rita 166/A 

Rafi Ahmed Kidwai Road 

Kolkata 700016

Dear Madam,

Re : Appointment for the post of school teacher. This letter is to bring to your attention that is reference to your interview attended on 23rd March, 2011 at the Principal’s office in our school. We are pleased to appoint you as an English teacher in our secondary school. We shall be informed your scale of pay, leave entitlement, house rent allowance and other perks later on upon the receipt of your confirmation. 

Hope you are eager to join us.

Thanking you,

your faithfully

Alisa mitra

(Principal).

 (i) Motions : A motion is a proposal or proposition moved by a member for the purpose of discussion at the meeting. Before it can be taken for discussion, the motion must be duly ‘ proposed by someone and must be duly seconded by some one present. In case there is no seconder, die motion lacks support of the members and it is lost. The motion must be in writing and it must relate to the items placed on the agenda. When the motion is duly seconded, the chairman puts it for discussion and invites amendments. 

(ii) Amendments may be made in a motion in several ways : 

• by deleting words, 

• by inserting words, 

• by deleting certain words and substituting other words, 

• by altering the position of words, etc. 

(ii) An amendment may be moved with or without any previous notice. It need not be in writing or seconded. But it should not in whole change the motion, otherwise it will become a counter motion. 

(iv) Types of Formal Motions are : 

• The closure 

• Proceed to next business 

• Postponement 

• Adjournment

Equity shares are the main source of finance of a firm. It is issued to the general public. Equity shareholders do not enjoy any preferential rights with regard to the repayment of capital and dividend. They are entitled to the residual income of the company, but they enjoy the right to control the affairs of the business and all the shareholders collectively are the owners of the company.

Advantages to Company:

1. Long-term and Permanent Capital: It is a good source of long-term finance. A company is not required to pay-back the equity capital during its life-time and so, it is a permanent source of capital.

2. No Fixed Burden: Unlike preference shares, equity shares suppose no fixed burden on the company’s resources, because the dividend on these shares is subject to availability of profits and the intention of the board of directors. They may not get the dividend even when the company has profits. Thus they provide a cushion of safety against unfavourable development.

3. Creditworthiness: Issuance of equity share capital creates no change in the assets of the company. A company can raise further finance on the security’ of its fixed assets.

4. Risk Capital: Equity capital is said to be the risk capital. A company can trade on equity in bad periods on the risk of equity capital.

5. Dividend Policy: A company may follow an elastic and rational dividend policy and may create huge reserves for its developmental programmes.

Registered Post : Sender affixes more postal stamps on envelope and delivers at the counter of post office and obtains receipt, then the postal authorities will deliver that parcel or letter to addressees only, whereas letters sent under UPC may reach addressees or may not. 

Money Order: Money order is a device of remitting money from one place to another through post offices. The person who sends the cash is known as the remitter and the person to whom it is sent is known as the payee. The post office acts as an agent by taking the requisite commission from the remitter and agrees to remit the amount to the payee. Money order is an order issued by one post office to another requiring the latter to pay a certain sum of money to the payee.

Ploughing back of profits is an important source of internal financing by a company. It refers to the process of retaining a part of the company’s net profits for the purpose of reinvesting in the business itself. In other words, the savings generated internally by a company in the form of ‘retained earnings’ are ploughed back into the company for diversification of its business. This reduces their dependence on funds from external sources in order to finance their regular business needs. 

Such a source of finance may be used by the company for the following purposes:

• For expansion and growth of the business 

• For strengthening the financial position of the company 

• For meeting various working capital requirements of the company 

• For redemption of old debts 

• For replacement of obsolete assets and modernization.

The participating preference shareholder receives stipulated dividend and shares additional earnings with the common shareholders. But this share is usually non- cumulative which confirms the view that preference share does have both protective and profit participating provisions.

Technology has revolutionized the way companies conduct business. Small businesses can implement business technology and level the playing field with larger organizations. Small businesses use computers, servers, websites and personal digital products to develop competitive advantages in the economic marketplace. Small business owners should consider implementing technology in their planning process. This allows owners to create operations using the best technology’ available.

Working capital means the capital invested in working assets or current assets such as cash, stock of goods, debtors and short term investments etc. 

The various types of working capital are: 

Permanent Working Capital: It refers to the minimum amount of working capital required permanently to operate the minimum level of business activity. It determine the financing requirement in the case of fixed assets is simply the cost of the asset. It is of two types: Initial and Regular working capital.

Variable Working Capital : It is the difference between net working capital and permanent working capital. The amount of temporary’ working capital depends upon the extent of extra demand in season. 

It is of two types : seasonal and special working capital.

Gross Working Capital : Gross working capital refers to the total amount of funds invested in the current assets. 

Gross Working Capital = Book value of current assets.

Net Working Capital : Net working capital means the excess of current assets over current liabilities. Current assets include cash at bank, sundry’ debtors, cash in hand, bills receivable etc. Current liabilities include bills payable, sundry creditors, short term loans etc.

Net Working Capital = Current assets – Current liabilities.

Two components of Legal Environment of a business concern are :

• Laws and administrative orders of the government. 

• Judicial system of the country. 

• Flexibility and adaptability of laws.

The vote that gives one group a majority when the other votes are equally divided. The person in charge of a committee, for example, often has the right to give a casting vote.

Point of order: This is a motion for expressing any objection or complaint by a member against – the speech maker. Point of order can be raised on the following conditions. 

• Incorrect procedure of meeting. 

• Irrelevant issues are raised by any member; 

• If a member uses some unpleasant language; 

• Infringement of the rules of the society; 

• When a member passes defamatory or insulting remarks on some other member. 

• When a quorum has fallen due to the early leaving of some member or members and a member objects to it.

A phonograms is a spelling pattern or word family. There are 37 most frequently used patterns. From these patterns a child carmaster.

A motion is a proposal or proposition raised at a meeting and submitted for consideration, debate, vote, discussion and decision.

Derivative tables serve as repository of information and are arranged for easy reference. They usually contain detailed information and are not constructed for specific purposes. These type of tables provide information for particular discussion. When .it is attached to report they are found in the body of the text. These tables are called derivative tables.

(a) CCA – Compensatory City Allowances 

(b) DA-Dearness Allowance

Types of Recruitment Interviews are: 

Face to Face Interview: In this method, there should be one-to-one conversation between the candidate and company’s representative, usually the human resource personnel. It will also help to assess the personality, communication skills and basic knowledge of the candidate. 

Structured Interview: A Structured Interview is that interview in which the interviewer prepared a list of questions and asking the same set of questions to all candidates to compare and rate the answers. 

Group Interview: In the Group Interview, the interviewer gives a topic to a group and the candidates discuss the topic among themselves for a predetermined period. During the discussion, the interviewer observes the candidates regarding the quantity and quality of each candidate inputs, ability.

(a) Casting vote is the vote which a chairman can exercise to decide the issue on which members are equally divided or there is a tie. 

(b) Adjournment is a motion which is moved to suspend the entire proceedings of a meeting either for a particular period or indefinitely. “Sine die” means for the indefinite period. 

(c) A quorum means the specified minimum number of qualified persons whose presence is necessary to transact the legally binding business at a meeting. The members who constitute the quorum must be effective members i.e., entitled to vote at the meeting. The meeting is not legally constituted when the quorum is not present. 

(d) A member entitled to attend and vote at a meeting can appoint or nominate another person to attend and vote at the meeting on his behalf. The person so appointed is known as the proxy. The proxy may or may not be a member of the company. Proxies can be appointed in accordance with the provisions of the Articles of Association. The proxy cannot speak at the general meeting nor can he cast a vote unless there is a poll. There are two types of proxies namely special proxy and general proxy.

(a) RMS : Railway Mail Services. 

(b) TMO: Telegraphic Money Order.

Advantages of the telephone service : 

• It saves time by providing immediate contact. It is a very fast mode of communication. 

• It overcomes the distance barrier and avoids the need for face-to-face conversation. 

• It provides immediate feedback. The speaker can explain and clarify his message to ensure that it is properly understood. 

• It reduces status barriers. There are certain things which people hesitate to say in face-to- face meeting but which can be said over the phone. 

Disadvantages of the telephone services : 

• In telephone conversation, facial expressions and gestures cannot be used to supplement words. 

• The receiver of a telephone call cannot go over the message again and again and there is little time to think. 

• It is not possible to judge the mood or temper of the receiver. 

• It is not suitable for lengthy messages.

Difference between Training and Education.

HRA ⇒ House Rent Allowance 

LTA ⇒ Leave Travel Allowance

Remuneration is the pay or compensation that one receives for a service. It is a reward for employment in the form of pay, salary, or wage, including allowances, benefits (such as company car, medical plan, pension plan), bonuses, cash incentives, and monetary value of the non-cash i incentives. 

An incentive is an object, item of value, or desired action or event that spurs an employee to do more of whatever was encouraged by the employer through the chosen incentive. Recognition incentives, reward incentives, appreciation incentives are the main forms of incentives.

Remuneration refers to the wage or salary paid to workers in cash or kind in consideration of the services rendered by them. Wages help the business to attract, retain and motivate efficient workers. A good system of remuneration should be simple, equitable, economical and flexible.

Point of Order: A point of order is a question regarding the procedure of a meeting. Any number can raise a point of order to draw the attention of the chairman to some irregularity in the procedure of the meeting. 

Statutory Meeting: According to Section 165, every public company limited by shares or limited by guarantee and having a share capital must hold a statutory meeting within a month but not more than six months from the date on which the company is entitled to commence business. The purpose of statutory meeting is to enable the members to get acquainted with the affairs of the company. 

Proxy: Proxy is a representative of a member who is unable or unwilling to attend the meeting in person. Unless the articles provide otherwise, a member of a company not having share capital cannot appoint a proxy. The proxy cannot speak at the general meeting, nor can he cast a vote unless there is a poll. There are two types of proxies i.e., special proxy and general proxy. A proxy may be revoked at any time. 

Agenda: Agenda refers to the various items of business to be transacted at the meeting. It is in the form of a statement specifying the order in which the various matters are to dealt with. The secretary is in charge of the Agenda and he prepares the agenda in consultation with the chairman of the board of directors. The preparation of agenda in advance of the meeting helps in the systematic conduct of the meeting. Agenda may be drafted on a loose sheet of paper or there may be a special ‘Agenda Book’.

Advantages of using Post Boxes/Post Bags: 

• Customers may get their mail at the post office through Post Boxes which are rented out by the post office. 

• All fully prepaid unregistered articles addressed to the customer will be placed inside the Post Box/Bag and handed over to the customer during the business hours prescribed for window delivery.

(a) VPP: Value Payable Post 

(b) PIN: Postal Index Number i

According to Tuttle a statistical table is the logical listing of related quantitative data in vertical columns and horizontal rows of numbers with sufficient explanatory and qualifying words, phrases and statements in the form of titles, headings and notes to make clear the full meaning of the data and their origin. 

The following are the advantages of tables: 

Simplification : Tables enable an analyst to present a huge mass of data in an orderly manner within a minimum of space. Data become easily understandable and avoiding unnecessary details. 

Comparison: The table is divided into parts and each part contains total and subtotal. This will help to easily understand, compare and studied. 

Patterns: Tabulation reveals patterns within, cannot be seen in a narrative form. It also facilitates the summation of the figures.

Methods of Raising Morale :

Monetary Incentives : Monetary incentives like good salaries and wages help to encourage the employees for greater productivity. The management should evolve such a wage/salary structure which enables the workers to earn at a reasonable level and to live a decent life. Assurance of a sound wage structure builds up morale of workers. 

Non-Monetary Incentives: Non-monetary incentives are also helpful in boosting the morale of employees. These incentives may be provided to them in the form of medical aid, recreational facilities, holiday homes, creche facility to the children of working couples, etc. 

Job Security : Security of job boosts the morale of the employees. The management should follow a good labour policy that ensures the security of the job to its employees. The workers should also be assured that in case their services are not required in their present jobs, they will be absorbed in alternative jobs sooner or later or immediately. 

Sound Promotion Policy: A sound promotion policy is a must to boost the morale of the employees. Promotion policy should be so adopted by the management that it gives proper weight age to merit and seniority. If only one base either seniority or merit is adopted, it will not be good for the morale of the employees.

Methods of Raising Morale : 

Monetary Incentives : Monetary incentives like good salaries and wages help to encourage the employees for greater productivity. The management should evolve such a wage/salary structure which enables to workers to earn at a reasonable level and to live a decent life. Assurance of a sound wage structure builds up morale of workers. 

Non-Monetary Incentives: Non-monetary incentives are also helpful in boosting the morale of employees. These incentives may be provided to them in the form of medical aid, recreational facilities, holiday homes, creche facility to the children of working couples etc. 

Job Security : Security of job boosts the morale of the employees. The management should follow a good labour policy that ensures the security of the job to its employees. The workers should also be assured that in case their services are not required in their present jobs, they will be absorbed in alternative jobs sooner or later or immediately. 

Sound Promotion Policy : A sound promotion policy is a must to boost the morale of the employees. Promotion policy should be so adopted by the management that it gives proper weight age to merit and seniority. If only one base either seniority or merit is adopted, it will not be good for the morale of the employees. 

Healthy Working Conditions : The working conditions in the organisation play a . crucial role in boosting the morale of the employees. Working conditions should be healthy so that employees may work with best efforts and attain organisational objectives.

Induction is the process of receiving and welcoming an employee when he first joins a company and giving him basic information he needs to settle down quickly and happily and start work. The main purpose of induction training is to integrate new employees into the company and make them understand the systems and procedures followed by the organization. Induction training helps new employees settle down quickly in the new work environment, and gives them a sense of belonging. 

1. To reduce the initial anxiety all new entrants feel when they join a new job in a new organization. 

2. To familiarize the new employees with the job, people, work-place, work environment and the organization.

cDNA : The double stranded molecules prepared by using mRNA as template and reverse transcriptase are called cDNA. These are expressed genes of the
genomic DNA. By using cDNA molecules, substantial number of sequences have been determined and deposited in database.

Democratic leadership is ideal for white collar workers as under this type of leadership, decisions are jointly made by the leader as well as his followers. The leader decentralize authority and allows the group to share his power. The followers take an active participation under this leadership.

Leadership is the action of leading people in an organization towards achieving goals. Leaders do this by influencing employee behaviors in several ways. A leader sets a’ clear vision for the organization, motivates employees, guides employees through the work process and builds morale. 

Styles of leadership: 

Autocratic Leadership : It is a leader-oriented style. Autocratic leaders make decisions without consulting their team members, even if their input would be useful. This can be appropriate when you need to make decisions quickly, when there’s no need for team input, and when team agreement isn’t necessary for a successful outcome. However, this style can be demoralizing, and it can lead to high levels of absenteeism and staff turnover. 

Democratic Leadership : It is participation-oriented leadership. Democratic leaders make the final decisions, but they include team members in the decision-making process. They encourage creativity, and people are often highly engaged in projects and decisions. As a result, team members tend to have high job satisfaction and high productivity’. This is not always an effective style to use, though, when you need to make a quick decision.

Advantages of using Post Boxes/Post Bags: 

• Customers may get their mail at the post office through Post Boxes which are rented out by the post office. 

• All fully prepaid unregistered articles addressed to the customer will be placed inside the Post Box/Bag and handed over to the customer during the business hours prescribed for window delivery.

(a) Reaction of nitric acid with non-metals:

C + 4HNO₃ → CO₂ + 2H₂O + 4 NO₂

S + 6 HNO₃ → H₂SO₄ + 2H₂O + 6NO₂

(b) Nitric acid showing acidic character:

K₂O + 2HNO₃ → 2KNO₃ + H₂O

ZnO + 2HNO₃ → Zn(NO₃)₂ + H₂O

(c) Nitric acid acting as oxidizing agent

P₄ +20HNO₃ → 4H₃PO₄ + 4H₂O + 20NO₂

3Zn +8HNO₃ → 3Zn(NO₃)₂ + 4H₂O + 2NO

Fraternal twins

When correct amount of ammonium hydroxide is added drop wise to solutions of the metallic salts, ppts. (colored generally) are formed. They help us to identify their metal ions.

Two equations:

FeSO₄ + 2NH₄OH → (NH₄).2SO₄ + Fe (OH)₂

(Green) (Dirty green)

shows the presence of Fe⁺² ion.

FeCl₃ + 3NH₄OH → 3NH₄Cl + Fe (OH)₃

(Brown) (Reddish brown)

shows the presence of Fe⁺³ ion.

If an element A belongs to Period 3 and Group II then it will have 3 shells and 2 valence electrons. 

(D) Nitrogen

(A) Haematite

Ionization Potential increases over a period from left to right because the Atomic radius decreases and nuclear charge increases.