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(i) Antonio is in a melancholy mood at the beginning of this scene. He does not know where he got it and how it began. Salarino, one of Antonio’s friends, thinks that Antonio is sad because he is worried about his ships sailing on the sea. Salario, another of Antonio’s friends, attributes his sadness to his being in love. 

(ii) Antonio assures Bassanio of his wholehearted help in his mission. He says that his money, his body, his utmost resources will all be placed at his disposal so that Bassanio is able to pursue his aim. 

(iii) Bassanio tells Antonio that a very beautiful and rich lady, Portia, lives in Belmont. Her reputation as a rich, beautiful lady has spread far and wide. A number of eligible bachelors are reaching Belmont to try their luck in quest of her. 

(iv) Antonio was unable to lend the money that Bassanio needed because all his money was invested in trading ventures at sea. So he suggested Bassanio to go and enquire from where he could get money in Venice. He would stand surety for the money that he could borrow on his behalf. 

(v) We learn that Antonio and Bassanio are close friends. They share their intimate feelings and anxieties with each other. Both are ready to sacrifice their most precious thing for the other. Their friendship is tested later in the play when Bassanio helps Antonio in the Trial Scene through his wife Portia and later Antonio stands surety for Bassanio’s character when the marriage ring is found missing on Bassanio’s hand.

(i) Bassanio found the ‘gentle scroll’ in the leaden casket from which he found the portrait of fair Portia. His winning of the hand of Portia was the ‘prize’ for Bassanio as so many suitors were trying to win her hand. 

(ii) Bassanio felt ‘giddy in spirit, still gazing in doubt’ as he thought that he was one of two competitors for a prize who thought he had done well in the eyes of spectators, looking around in some doubt as to whether those shouts of applause were for him or not. He was still in doubt whether he had really won the fair lady Portia. 

(iii) Portia gave Bassanio a ring as a token of her affection. The gift symbolised their mutual trust and love for each other. If ever he parted with the ring or lost it or gave it away, this would mean that his love for her was dead and she would accuse him of the breach of trust. 

(iv) Bassanio assured Portia that he would never part with the ring she had given him. Giving her an assurance of his love, he told her that he would keep the ring secure on his finger. It would go only after his life was no more. That is, he would keep it as long as he lived. 

(v) Portia urged Bassanio to leave for Venice at once and take as much gold and money he needed to return the borrowed money to Antonio. In no case should such a good friend come to trouble; This shows Portia’s compassionate heart and generous nature to help someone in distress.

(i) Giles had just found a London bus ticket from Mollie’s glove. He was feeling upset and confused due to this. That is why he failed to hear what Trotter had said earlier. He looked dazed because he could not understand why the London bus ticket was there in Mollie’s glove when she had not gone there. 

(ii) Trotter was trying to find out if the telephone wire had been cut by some one or it had simply gone out of order due to the snow storm that had blown the other day. In fact he wanted to make a report to Police Superintendent Hogben. That is why he needed telephone service. 

(iii) Mrs Boyle closes the window because a very cold wind is blowing. She shivers due to this cold wind. The voice on the radio says that in order to understand the mechanics of fear you have to study the exact effect produced by fear on the human mind. If one is alone in a room, in the late afternoon and door opens softly behind him/her, he/she is likely to be frightened. 

(iv) The murderer masked the sounds of the killing under the tune of ‘Three Blind Mice’. Soon after the murder Mollie entered the room. She switched on the light and saw Mrs Boyle lying strangulated in front of the sofa. 

(v) The victim was Mrs Boyle. The victim was murdered because she was one of the Judges on the bench which sent the three children to the Long ridge. Farm where they were cruelly treated and one of them died. The murderer whistled the tune of ‘Three Blind Mice’. The tune of ‘Three Blind Mice’ is significant lure because ‘The mousetrap’ is a revenge play and here one of the ill-treated children George is going to take revenge from his victim. So the tune is very significant here.

Difference between training and education:

A programme is a detailed statement about a project which outlines the objectives, policies, procedures, rules, tasks, human and physical resources required and the budget to implement any course of action. The minutest details are worked out within the policy framework. A programme is action based and result oriented. It prescribes how resources of enterprise should be used. It is also a single use plan because it is not used in the same form time and again once the objectives have been achieved.

A programme is a sequence of activities directed towards the achievement of certain objectives. It lays down the definite steps which will be taken to accomplish a given task. It also lavs down the time to be taken for the completion of each step. For example, a company may have production programme, sales programme, training programme, expansion programme, etc.

Difference between Commodity market and Capital market:

Difference between Saving Account and Current Account:

The difference between Advertisement and Publicity :

These are the debentures that are secured by a charge on the assets of the company . These are also called mortgage debentures. The holders of secured debentures have the right to recover their principal amount with upward amount of interest on such debentures out of the assets mortgaged by the company. In other words, the company makes a default in payment, the debenture holders can recover their dues from the mortgaged property .

(i) Cement is indispensable for building and construction work. So, cement industry is considered to be an important core infrastructure core industry. The per capita consumption of cement is taken as one of the important indicators of wellbeing of the people.

Centres of cement industry in India are : 

1. Satna / Kymore / Katni/ Durg in – Chhattisgarh (Any two).

Publicity is an effective non-personal promotional tool which has very high credibility.

It is any non-paid mention of an organisation and its products in the mass media like newspapers, journals, radio, T.V., etc. Any organisation can come to the attention of the public by doing something which is newsworthy. 

For example. Tata Motors got wide publicity when it introduced the cost effective Nano Car. The unique features of the car were highlighted in every media, both in and outside the country . Similarly, a company can get coverage in the news media by sponsoring some sports or cultural event. It need not pay anything to the media for publicity, but has to supply the necessary information to the media.

Publicity has the following salient features :

• Publicity’ is a non-paid form of dissemination of some important information. It does not involve any direct payment as in the case of advertisement. 

• It is a non-personal form of communication by the media. 

• It does not have any sponsor as the information is passed on to the general public as a news item.

(i) Cement is indispensable for building and construction works and hence cement industry is considered to be an important infrastructure core industry. 

(ii) It can play a significant role in the overall economic growth as India has emerged as a major exporter of cement.

Importance of marketing are as follows : 

Standardization and Grading : Standardization means setting quality standards to achieve uniformity’ in the product. Standardization provides consistent quality assurance to consumers. Consumers are assured about the quality of product offered by the seller. Grading means classify ing the product on certain accepted benchmarks or bases. The bases of classification can be size, quality etc. Grading is necessary when a company is not following strictly the technique of standardization. Through grading, the marketer can get higher price for quality product. Grading is generally done in agricultural products like wheat, rice, pulses, apples, mangoes, etc.

Packaging and La belling : Packaging is traditionally done to protect the goods from damage in transit and to facilitate easy transfer of goods to customers. But now it is also used by the manufacturer to establish his brand image as distinct from those of his rivals. ‘Patanjali Honey’, ‘Boro Plus’, ‘Amul Butter’, ‘Tata Salt’ and ‘All Out’ are some examples in this regard.

Another activity’ connected with packaging is labelling. Labelling means putting identification marks on the package. The label is an important feature of a product. It is that part of a product which contains information about the producer of the product. A label may be a part of a package or may be a tag attached directly to the product. The label is used to communicate brand, grade and other information about the product. It works as a silent salesman.

Branding: It is the process of stamping a product with some identifying name or mark or a combination of both. In other words, branding means giving a distinct individuality to a product. A brand name consists of words, letters and/or numbers which may be vocalized. A brand mark is that part of the brand which appears in the form of a symbol, design, or distinctive coloring or lettering. It is recognized by sight. Some of the popular brands include Airtel, Videocon, Lux, Saridon, Nirma, etc.

Customer Support Services : This function relates to developing customer support services such as after sales services, handling customer complaints and adjustments, providing credit facilities, maintenance services, technical services, etc. All these services aim at providing maximum satisfaction to the customers, which is the key to marketing success in modern days. Customer support services prove very effective in bringing repeat sales from the customers and developing brand loyalty’ for a product.

Pricing: Price is the exchange value of a product. Determination of price of a product is an important function of a marketing manager. Price of product is influenced by the cost of product and services offered, profit margin desired, prices fixed by rival firms and Government policy.

Mumbai-Pune Industrial region is a major industrial hub of India. 

Three factors responsible for the growth of this industrial region are : 

(i) The region is well connected by a network of roads and railways which helps in easy transportation of raw cotton for the cotton textile industry and the finished goods. 

(ii) Cheap hydroelectricity is readily available from the Western ghats. 

(iii) Cheap labour force can be drawn from the surrounding areas.

Mumbai is a very important port which helps in import of machineries and export of finished products. In addition to cotton textile industry, chemicals, engineering goods, oil refineries, petrochemicals, fertilizers, shipbuilding and automobile industries are also developed.

Any one centre of production :

Ships: The Garden Reach Workshop at Kolkata.

Cement: Kymore in M.P.

Automobiles: Maruti Udyog Ltd. at Gurgaon in Haryana.

Aircraft: Hindusthan Aeronautics Ltd. – Bengaluru.

(i) Presence of market for ethnic designs and colors combinations. 

(ii) Power/energy.

Two significant factors influencing the location of aluminium industry are the availability of bauxite as the production of 1 MT of aluminium requires 6 MT of bauxite and 18573 kwh of electricity. This clearly indicates that the availability of bauxite and electricity are the two most significant factors which influence the localization of this industry.

Product mix refers to the total number of products and items that a business firm offers to the market. It involves decisions concerning the quality; size, range, page. brand name, label, services. It also involves planning, developing and producing the right type of products and sendees to be marketed by the organisation. 

It includes : 

Branding : Branding is the process of assigning a distinctive name or symbol to a product by which it is to be known and remembered.

Packaging: Packaging refers to covering, wrapping, crating, filling or compressing of goods to protect them from spoilage, breakage, leakage etc.

Labelling: Labelling refers to designing the label and putting it on the package. A label is a small slip placed on the product to denote its nature, contents, ownership, destination etc.

Cofe banking is a banking service provided by a group of networked bank branches where customers may access their bank account and perform basic transactions from any of the member branch offices. Under this system, a customer becomes Customer of the bank’ rather than customer of a branch. Core banking functions will include transaction accounts, loans, mortgages and payments. Basically, it is the software applications for recording transactions, storing customer information, calculating interest and completing the process of passing entries in a single database. The basic goals of core banking are providing greater customer convenience and cutting down on operational expenses. CBS also known as ‘Centralized Banking Solutions’.

It provides following facilities : 

• Updating of passbook at all CBS branches. 

• Transfer of funds between the accounts in CBS. 

• Customer may access their bank account from any of the branch offices.

The money measurement concept states that a business should only record an accounting transaction if it can be expressed in terms of money. This means that the focus of accounting transactions is on quantitative information, rather than on qualitative information. Thus, a large number of items are never reflected in a company's accounting records, which means that they never appear in its financial statements. Examples of items that cannot be recorded as accounting transactions because they cannot be expressed in terms of money include:

•  Employee skill level
• Employee working conditions
• Expected resale value of a patent
•  Value of an in-house brand
• Product durability

SWOT Analysis is an acronym for strengths, weaknesses, opportunities and threats. A SWOT Analysis can be carried out for a company, product, place, industry or person. It specifying the objective of the business venture and identifying the internal and external factors that are beneficial and non-beneficial to achieve that objective.

e-Banking: e-Banking or electronic banking is the latest wave in information technology. It can be defined as the services provided by the banks on internet. It involves low transaction cost, adds value to the banking relationship and empowers customers. Electronic services offered by the bank are Electronic Funds Transfer (EFT), Automated Tekker Machines (ATM), Electronic Data Interchange (EDI), Credit cards, Debit cards etc. These services help the customers to conduct banking transactions such as managing savings, applying for loans, checking accounts, paying bills etc. over the internet a personal computer, mobile telephone etc. 

Features of E-Banking are :

• It facilitates 24 hours banking services to the consumers.

• It involves electronic services offered by the bank i.e.. Electronic Funds Transfer (EFT), Automated Teller Machines (ATM). Electronic Data Interchange (EDI) etc. 

• It provides greater security to the customers as they can avoid travelling with cash. 

• It also offers unlimited access to the bank. 

• It keeps a record of each and even transaction.

Company need to pay for its publicity to the media owners as to get certain information across to as many people as possible within the shortest time frame. For you to record any sale of your products or services, your prospects have to be aware of those products and services, and they also have to know the attached benefits. Suffice it to say that the number of sales is directly dependent on the number of people who got to know about the product. Through media channels company getting feedback from the recipients of the required information. It provides means or platform for sending feedback or any other form of response from those who got the message being disseminated.

The following factors to be kept in mind before pricing : 

Cost of Production : The most important factor affecting price of a product or service is its cost. While fixing the price of a product or service all total costs (Fixed costs, semi variable costs or variable costs) and desired profit is added. No business firm likes to sell its product below the marginal cost of product. Moreover, profits are also must for the survival of business.

The Utility and Demand : Utility means the satisfaction which a customer receives from a consumption of a product. The buyer is ready to pay up to the point where the utility from the product is at least equal to the sacrifice made in terms of price paid. Demand also plays an important role in determining the price of the product. If there is less demand for the product, it would not be sold at a very’ high price and viceversa. Thus demand should be predicted correctly before setting the price.

Extent of Competition in the market: If there is higher degree of competition, the price will be fixed at the lowest level and if there is lesser degree of competition, the price will be fixed at the upper limits. In addition, while fixing prices, the quality , price and features of competing products must be considered.

Government and Legal Regulations : Government and legal regulations also play an important role in fixation of prices. Sometimes the prices are fixed by the government for essential commodities. 

For example, government fixes the low price for life saving medicines for the diseases like cancer, aid etc. No business enterprise can charge more price as fixed by the government.

Pricing Objectives : Pricing objectives are another important factor affecting the fixation of price. 

These objectives include :

• If a firm wants to capture a share of the market. It will fix the low prices so that greater number of people can be attracted. 

• In case of keen competition the firm can use the sales promotion techniques like discount, rebate etc. 

• Sometimes high prices are charged to cover high quality and high cost of research and development.

Marketing Strategies for Introduction Stage : 

Introduction stage is marked with slow growth in sales and a very little or no profit. Note that product has been newly introduced, and a sales volume is limited; product and distribution are not given more emphasis. Basic constituents of marketing strategies for the stage include price and promotion. Price, promotion or both may be kept high or low depending upon market situation and management approach. 

Marketing Strategies for Growth Stage : This is the stage of rapid market acceptance. The strategies are aimed at sustaining market growth as long as possible. Here the aim is not to increase awareness, but to get trial of the product. Following Strategies to be adopted during Introduction & Growth stage.

(1)  Acceptance of Bill : Every bill has to be accepted by the drawee : It should be noted that it is the creditor who draws a bill on the debtor, thus the creditor becomes the drawer, and the debtor, drawee. It is made payable to a payee; drawer himself may be the payee. After the drawer has prepared the draft, it is then sent to the drawee for acceptance. It should be noted that a bill prior to acceptance, is known as draft. Acceptance is simply an indication on the part of the drawee of his accepting the liability under the bill. This is done by drawee by signing his name across the face of the bill, together with the place and date. A bill of exchange after acceptance is known as an acceptance for the drawer than it becomes as bill receivable and for the drawer a Bills payable. An acceptance may be general or qualified. When the acceptor writes down his acceptance without any qualification, the acceptance is known as general acceptance. He may, however, write down the name of the bank where it is payable. The place of payment of the bill is known as its domicile. When the drawee adds some conditions or qualifications to the bill while accepting it, the acceptance is known conditions as qualified acceptance. 

(2)  Creation of Credit: Creation of credit is a major function of a commercial bank. When a bank creates credit or advances loans, there tends to be a multiple expansion of credit in the banking system. It is open secret that banks do not keep cent per cent per cent reserve against deposit. Bank is not a clock room where you can keep your currency notes or coins and claim those very notes and coins back when you desire, -It is generally understood that money received by the bank is meant to be advanced to others. A depositor has to be content simply with the  banks promised or undertaking to pay him back whenever he makes a demand. The banks are able to do this with a very small reserve because all the depositors do not come to withdraw money simultaneously. Some withdraw, while others deposit and so it creates a vast superstructure of credit on the basis of small cash reserve. The bank is able to lend money and charge interest without parting with cash. The bank loans create a deposit or create a credit for the borrower. Similarly the bank purchase securities and pays the seller with its own cheque which again is no cash; it is just promise to pay cash.

Characteristics of good advertisements are as given below :

Attract Attention : The advertisement copy should be drafted in such a way that it is able to attract the attention of those for whom it is intended. Otherwise, it is a waste of efforts and funds. 

Advertisement can be made attractive with the help of :

(1)  Pictures of illustrations 

(2)  By using catchy headlines or slogans, 

(3)  By using bold artistic writing, 

(4)  By giving price quotation, or 

(5)  By inserting coupons for free gifts, etc. 

Retention of Message : People must remember or retain the message. The impression created in the mind of readers should be such that they are likely to remember it for a long time. To achieve it, an advertiser can lay emphasis*on trade mark or brand name of the product. But care should be taken that it is not repeated so often that people start ignoring it.

Suggestive in Nature : Advertisement should suggest the necessity of product for solving the problems of the customer, e.g., 'Falling Hair remedy is Keo Karpin oil', or 'To save yourself from cold and cough use Glycodin'. Advertisement, will not be effective, if it is not suggestive.

Creating the Demand : An advertisement is effective only if it induces a person to buy the goods advertised. It should create demand; creation of mere desire is not enough. An advertisement should appeal to various instincts inherent in man, like self-preservation, parental, self-display, etc.

Conviction Value : Advertisement should not include certain high claims that cannot be met. It should be backed by convincing arguments and feedback procedure. Similarly, vague generalization cannot convince the public. Therefore, they must be avoided. To convince people, help of slogans can be taken up. For example, For cold, do not take any ordinary tablet; take Action 500, as it is made for cold specially'.

Stages of product life cycle are :

Growth : It is the period during which the product is accepted by consumers, and holders. During the growth stage, the rate of increase of sales turnover is very rapid. Profits so increase at an accelerated rate. In spite of competition, we may have rising sales and profits. The firm gives top priority to sales volume and quality maintenance may have condary preference. For marketing success, manufacturing and distribution efficiency are factors. In mathematical term, the end of the growth period is at the inflection point on sales curve. In this stage effective distribution and advertising are considered as key factor. Word of mouth advertising leads to more new users. Repeat orders are secured

Maturing : During this stage keen competition brings pressure on prices. Increasing marketing expenditure and falling prices (in the battle for market share) will reduce profits. Additional expenditure is involved in product modification and improvement or broadening product line. Marketers have to adopt measures to stimulate demand and face competition through additional advertising and sales promotion. Overall marketing effectiveness becomes to the key factor in the stage of maturity. Low prices, increasing competition, rising marketing and declining profits are the features in this stage.

Saturation: The saturation point occurs in the market when all potential buyers are using product and we have only replacement sales Consumption achieves a constant rate and marketers have to concentrate exclusively on a fight for market share (with higher marketing expenses). Prices may fall rapidly and profit margins may become small unless the firm makes substantial improvements and realizes cost economies.

Decline Stage : Once the peak or saturation point is reached, product inevitably enters the decline stage and becomes obsolete. It may gradually displaced by some new innovation. Sales drop severely, competition dwindle, and even then the product cannot stand in the market. It may be priced out of the market by other new innovations. A marketer is expected to keep new products ready to fill up the gap 

created by the demise of existing products. At this stage price becomes the primary weapon of competition, and we have to considerably reduce expenditure on advertising and sales promotion. Cost control becomes the key to generate profits.

Differentiate between Central Bank and Commercial Bank.

Difference Between Advertisement and Personal Selling

The basic principles which every accountant has to take into consideration-for

(1) The Matching Principle :  According to this principle, cost of the period should be charged from the revenue of same year only. Cost of one period or year cannot be charged from the revenue of any other period or year. Revenue for the period must be ascertained first and then the cost should be charged to it. The matching of costs with revenue is based on the actual system of accounting. 

(2)  The Complete Disclosure Principle : According to this principle, all the significant information relating to the economic affairs of the firm required by users of financial statements should be disclosed. It should be disclosed completely, so that the users can understand the statements properly. Apart from financial statements, it can be in form of annexure or foot notes etc. 

(3)  The Dual Aspect Principle :  According to this principle of accounting, every business transaction has a double (dual) effect on the business and this double effect is recognized by recording both the aspects of every transaction. Every debit will have an equal credit. If one account is debited, some other account or accounts will be credited with the same amount. This is only known as double entry system. It is due to this principle that both the sides of balance sheet are equal and accounting equation is always true, i.e., Equity/Capital = Assets – Liabilities 

(4) The Revenue Principle :  According to this principle, revenue means amount which as been already received or is receivable for the accounting period. Revenue is treated as realized whenever the title of goods and services is transferred, it is immaterial whether the cash is received or not.

(5) The Expense Principle : According to this principle, every cost which is incurred for earning revenue, is termed as expense. For example, selling expenses, manufacturing expenses, administrative expenses etc

There are three types of promotional strategies :

Pull Strategy : Pull strategies depend upon mass communication. Products are literally pulled by buyers through the channels on the basis of mass promotional efforts. In a pull strategy, the product is pulled through the channel by creating end-user demand. Customers force retail shops to stock those mass-promoted products. In turn, retailers demand the highly advertised product from wholesalers. The firms having well-known branches can exercise control over channels through pull. A pull strategy is also called a suction strategy. Extensive and heavy use of advertising and sales promotion would be necessary to generate consumer demand. There is less emphasis on personal selling at all stages of the marketing channel. Small firms are unable to depend entirely on advertising and sales-promotion, because large investment is involved due to emphasis of advertising and sales promotion.

Push Strategy : Industrial marketing strategies are mostly the push type strategies relying primarily on personal selling. In the sale of medical products and in life insurance, marketers have to use large number of sales-people to call on physicians and prospects for life insurance. In push type promotion, personal selling expenses are considerable and dealer’s margin is also higher. In push type promotion, after-sale service is also important. In push type promotion marketers rely on selective distribution. Push strategy can be successfully used when ; 

(1)  We have a high quality product with unique selling points, 

(2)  We have a high-priced product, and 

(3)  We can offer adequate incentives (financial) to middlemen and their salesman.

Push'Pull Stratery: Most consumer goods manufacturers generally employ a push-pull (combination) strategy to sell their product. The ratio of pull to push may differ according to the requirements of market situation. Salesmen are used to push the goods through the marketing channel, while advertising and sales promotion will support personal selling to accelerate sale. Thus, all tools of promotion work like a chain system.

Following points are to be considered while preparing the Balance Sheet of a non-trading organization : 

(1)  On assets side of the Balance Sheet, furniture, bank and cash balances, etc. will appear along with items like prepaid expenses and accrued incomes following the marshalling patterns of Balance Sheet. 

(2)  On the liabilities side, will appear usual items of creditors for supply, outstanding liabilities for expenses along with various fund balances and the capital account. 

(3) The assets appearing in the previous year's Balance Sheet should be adjusted for any sale or purchases during the year and the depreciation 

(4)  If new assets have been purchased, this would be reflected by the payments side of the Receipt and Payment account. The payments side of this account should, therefore be scanned and the assets shown to be purchased therein would appear on the assets side of the final Balance Sheet. 

(5)  If a loan has been raised, it is reflected by the receipts side of the Receipt and Payment account and the amount thereof (less any-repayment, as may be reflected by the payment side) would appear on the liability side of the Balance Sheet. 

(6) If a loan has been advanced to any person, the same would be reflected by the payment side and recoveries (if any) by the receipts side of the Receipt and Payment account. Only the net amount would be shown-on the assets side of the Balance Sheet.

(7)  Adjustments made in respect of expenses while preparing the income and expenditure account, viz., outstanding expenses and prepaid expenses would appear on the liabilities and assets sides of the Balance Sheet respectively.

(8)  Adjustments for incomes would likewise be shown in the Balance Sheet, viz., income accrued but received on the assets side, and income received but not accrued on the liabilities side.

1. It provides risk coverage to the employees as long as they remain in the service of the employer. 

2. In case of injury or death of an employee, the claim received by the employer is paid to the employee or his nominee. 

3. The premium is gqperally paid jointly by the employee and the employer.

A non-trading organisation does not carry on any business and it does not aim at making profit eg. schools, colleges, clubs.

Pricing is a difficult function because it determines the sales volume and the amount of profit. A sound price policy helps to satisfy customers and to yield profits. Determination of price is influenced by large number of factors such as cost of production, competitions, nature product etc.

(a)

(i) Authority and Responsibility: Authorin’ is a right to give order and power to exert obedience. Responsibility implies the obligation to perform the work in the manner desired and directed. Authority and responsibility must go by side. There should be parity between authority and responsibility. Authority without responsibility leads to irresponsible behaviour while responsibility without authority makes a person ineffective.

(ii) Stability of Tenure: This principle states that one subordinate should receive orders from one superior only. The subordinate should be accountable to that superior from whom he received orders. In other words every employee should have only one boss. Dual on multiple commands creates chaos in the organisation since it undermines authority. Authority should be delegated in such a manner that a subordinate works under one superior only.

(iii) Division of work: Division of work implies dividing the total task into compact jobs and allocating these compact jobs to different individuals. The object of division work is to facilitate specialisation and improve efficiency. Due to the division of work higher productivity’ and better performance is possible. When an individual does the same job on a repetitive basis he specializes in his task and thus acquires speed and accuracy in the performance.

A multinational company is a company having production and distribution centres located in more than one country. It carries on business not only in the country’ of its incorporation but also in other countries. 

For example-Sony, HP, etc.

The Memorandum of Association is the most important document of a company. It defines the objects and powers of a company and the company’s relationship with the outside world.

It is the most essential document for a company due to the following reasons: 

• Informing the name, address, object, capital and liability of the company to outsiders is very important as it builds trust and confidence among investors. 

• It lays down the objects and scope of activities of the company. It also states the limits up to which a company can move. 

• The provision of this document cannot be changed without passing a special resolution (75% majority). In certain cases, the changes can be made by seeking permission from the company Law Board or Central Government.

Two objectives of a prospectus of a company : 

(a) To provide information about the company to the public so that they may be attracted to invest in the company’s shares or debentures. 

(b) To let the investors know the terms and conditions as well as the guidelines with regards to the company’s shares and other instruments on offer.

The merits of a Multinational company may be stated as follows: 

(i) Research and development activities: Multinational corporations have greater capability for research and development activities in comparison to national companies. Multinationals survive in the international market through their advanced research and development activities.

(ii) Foreign capital: Multinationals have huge capital resources at their command. They provide foreign investment by setting up subsidiaries and joint ventures in host countries. They promote capital formation and ensure a sound choice of projects. They have access to external capital markets.

(iii) Lower cost of production: Multinational corporations carry on operations on a large-scale, which ensures economies in material, labour and overhead costs. The lower cost of production has benefitted the consumers since they get better quality goods at cheaper prices.

(iv) Professional managers: Multinationals employ highly sophisticated techniques of management and develop professional managers. These corporations help to increase specialisation, speed up decision-making and improve operational efficiency. They shape the composition and character of world markets.

The objectives of communication are as follows : 

To Motivate Employees : Communication seeks to make employees interested in their duties and in the company as a whole. Managers inspire workers to work hard towards the achievement of organisational objectives. Good communication can mould employees’ behavior and create cordial industrial relations. It provides information and instills in each employee a sense of pride in the job. It also reflects management’s interest in employees.

To Promote Managerial Efficiency : Communication aims at improving the efficiency of management. Managers provide guidance to employees through communication.

To Implement Decisions Quickly : Effective communication is designed to implement decisions quickly. Subordinates understand managerial decisions and take steps to implement them through communication.

To Carry Out Change : Free flow of ideas and information reduces workers resistance to new technology and other changes. It makes new ideas acceptable to people and they adapt more quickly to the changing circumstances.

a) In case of a loan, a specified amount is sanctioned by the bank which the borrower may withdraw in Lumpsum or by cheques against the sum. In case of cash credit, the bank places the specified amount to the credit of the borrower, the borrower draws the money as and when required. 

(b) Interest on the loan is charged on the full amount used or not used. Interest on cash credit is charged only on the amount actually used by the borrower.

A Private limited company is deemed to be a public limited company under the following circumstances: 

• Where a private company holds 25% or more of the paid-up share capital of a public company. 

• Where the average sales turnover of a private company for the last three years is more than five crore rupees.

Two aims of sales promotion are: 

• To create demand, to arouse interest in the buyer so that the interest may be converted to a desire for the product ending in the sale of the product. 

• To stabilise sales earlier demand must be sustained, these activities reassure the customers about the quality and price of the product and helps in facing competition.

Efficient performance of staffing involves the following activities or steps : 

Estimating Manpower Requirements or Human Resource Planning : This is the first step in the process of staffing. It is concerned with determining the number and type of staff required for the organisation. 

It involves the following steps :

• making inventory of current human resources in terms of their qualifications, training and skills, and 

• assessing future human resource needs of all the departments.

Job analysis is concerned with finding details related to all jobs. After conducting job analysis, the managers come to know the qualifications and qualities of employees required to perform each job.

Recruitment : It involves attracting suitable people to apply for vacant jobs in the organisation. Recruitment refers to identification of the sources of manpower availability and making efforts to secure applicants for the various job positions in the organisation.

Selection : Selection is the process of choosing and appointing the right candidates for various jobs in the organisation. It includes receiving and screening of applications, employment tests, interviews and medical examination of candidates together with verification of references.

Placement and Orientation : When a new employee reports for duty , he is to be placed on the job for which he is best suited. Placement is a very important process as it can ensure “right person doing the right job”. If a new employee is not able to adjust on his job. he may be given some training or transferred to some other job.

Orientation is concerned with the process of introducing or orienting a new employee to the organisation. The new employees are familiarized with their units, supervisors and fellow employees They are also to be informed about the working hours, tea or coffee breaks, lunch period, procedure for availing leaves, safety precautions, medical facilities, transport facilities, etc.

Training and Development : Systematic training helps in increasing the skills and knowledge of employees in doing their jobs. Various methods of training can be used to enhance the knowledge and skills of the employees. On-the-job methods are more useful for the operative employees and off-the-job methods can also be employ ed for the supervisory personnel.

Real Time Gross Settlement (RTGS) is an electronic form of funds transfer where the transmission takes place on a real time basis. In India, transfer of funds with RTGS is done for high value transactions, the minimum amount being Rs 2 lakh. The beneficiary account receives the funds transferred, on a real time basis.

Features of R.T.G S.

• An RTGS electronic fund transfer facilitates fund transfer on real time basis. In case of a holiday, the amount gets credited on the next working das. 

• RTGS could also be done offline by submission of the remittance form at the bank branch of the remitter. 

• RTGS avoids the cost involved in other instruments of fund transfer such as demand draft.