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The advantages of a centralized mailing department are : 

(i) High degree of specialization: It makes certain that specialization in the mailing service is ensured. Specialization enables precision and rapidly in the work. 

(ii) Uniformity in standard: It maintains consistency in the standard of quality and approach. This system ensures standardization of all correspondence made by the business hours. 

(iii) Better quality of work: It increases efficiency of work in their entails good output. As a consequence the degree of work become better and the organisation attains a good reputation. 

(iv) Better supervision and coordination : A well trained and expert supervision may be appointed to lead the dispatching department. Better supervision would ensure an ever and quick performance of mailing operations. 

(v) Saving time and money: Mailing operations can be methodical under this system. Proper methods can be set forth and brought into union with mailing operations. This would make for savings in time and money. 

(vi) Increase in efficiency: It increases efficiency of employees as they specialize in looking after the correspondence only. 

(vii) Keeping away duplication of work: All types of corresponding (inward, outward and inter department are changed to the central mailing department. As a result duplication of endeavor is stopped. 

(viii) Use of modern equipment: The mechanization of the mailing dept, is possible under this system. Various labor saving devices (folding and sealing machines, fracking machines can be used in the best way.

A statutory meeting is called after one month but before 6 months from the date of commencement of business. A statutory meeting is called once in the life time of a public company. 

It is called to familiarize shareholders with all important matters relating to a new company. 

It is held only once in the life time of a public company. 

Two contents of statutory reports are : 

• The total number of shares alloted, amount paid up thereon and the consideration for which they have been allotted. 

• As summary of cash received and paid and the amount in hand. 

Two types of companies that need not hold such a meeting are : 

• private company 

• a company limited by guarantee and not having a share capital. 

Two types of companies that ‘must’ hold such a meeting as per Indian Companies Act 1956 are 

1. Public limited companies limited by shares 

2. Public limited companies limited by guarantee and having a share capital.

Two sources of short-term finance are : 

Public Deposits: Public deposits are the deposits raised by business organisations directly from the public. These deposits usually offer a higher rate of interest as compared to interest on bank deposits. This source fulfills the medium as well as short term finance requirements of the business. Any individual willing to deposit money in a business firm, can do so by fulfilling a prescribed form. In return a firm issues a deposit receipt as acknowledgement of the debt. Public deposits are considered to be an important source for raising funds because their cost to the company is less than that of borrowings from banks.

Trade Credit: It refers to the credit provided by one firm to another for the purchase of goods and services. It is a source of short-term financing and facilitates purchase of goods and services without immediate payment. The volume and period of credit extended by the business firms varies from one industry to another and from one firm to another. Also, it varies from customer to customer in a particular firm. The various factors affecting the volume and period of credit include reputation of the purchasing firm, volume of purchases, past record of payment etc.

144 AJC Bose Road 

Kolkata – 700014 

24th April 2011

To,

Mrs Jqnes 

166/A Rafi Ahmed Kidwai Load 

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 primary school. You 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,

Yours faithfully 

Alisa Mitra 

(Principal)

The features of advertising are as follows : 

It is a paid form of communication: Advertisements appear in newspapers, magazines, television or on cinema screens because the advertiser has purchased some space or time to communicate information to the prospective customers.

It is a non-personal presentation of message : There is no face to face contact with the customers. That is why. it is described as non-personal salesmanship. It is a non-personal form of presenting products and promoting ideas and it supports personal selling. It simplifies the task of sales-force by creating awareness in the minds of potential customers.

Three external elements of micro business environment are : 

Suppliers: Like the customers, the suppliers also influence business. If a business has only one supplier and he gets annoyed because of some reason, the supply of goods can be stopped and the very existence of the business can be threatened or endangered. Hence, efforts should be made to have various suppliers.

Competitors : The competing firms can influence business in a number of ways. They can do so by bringing new and cheap products in the market, by launching some sale promotion scheme or other similar methods.

Public : Public has different constituents like the local public, press or media etc. The attitude or behavior of these constituents can affect business units. 

For example, the local population can oppose some established firm whose business is excessively noisy. Similarly, if the media gives some favorable report about a particular company the price of its share can register an increase on this count.

A product is anything that can be offered to a market for attention, acquisition, use or consumption : it includes physical objects, services, personalities, place, organisations and ideas. A product has many other dimensions besides its physical appearance. In fact, a product is like an onion with several layers and each of the layers contributes to the total product image.

A demand draft is a negotiable instrument similar to a bill of exchange. A bank issues a demand draft to a client (drawer), directing another bank (drawer) or one of its ow n branches to pay a certain sum to the specified party (payee).

Principle of Esprit De Corps Esprit De Corps means union is strength. Fayol emphasized on the team work. He suggested that every employee in the organisation must consider him as a part or member of a team and try to achieve the team goal because team contribution is always better and more than individual contribution. Management must develop a feeling of belongingness among the employees as they must feel themselves as members of organisation’s team and contribute maximum to achieve team’s goal.

In a large-scale organisation, keeping a close watch over all the activities is bound to be tedious and time consuming. If control is to be effective and economical it must focus attention only on factors critical to performance. Only significant deviations from standard should be reported to top level management and other problems should be entertained by the subordinates. 

For example, if telephones charges increase by 10% the deviation is too significant and it will be brought to the notice of top-level management.

Coordination is the process by which activities of different departments are synchronized to ensure unity of action. It is the essence of management because it is inherent in all managerial functions.

Authority and Responsibility : Authority is the right to give orders to the subordinates and to use the resources of organisation. Responsibility is the duty which the subordinate is expected to perform by virtue of his position in the organisation. Responsibility must be expressed either in terms of functions or in terms of objectives. When a subordinate is asked to control the working of a machine, the responsibility’ is stated in terms of function and when a subordinate is asked to produce a certain number of pieces of a product, the responsibility is created in terms of targets.

Bonus shares are the shares which a company issues to its existing shareholders free of charge. i. e., as a bonus, in order to distribute large undistributed profit among its shareholders.

A debenture is a medium or long term debt format that large companies use to borrow money. It is normally a loan that should be repaid on a specific date, but some debentures are irredeemable securities (sometimes referred to as perpetual debentures).

The majority of debentures come with a fixed interest rate. This interest must be paid before dividends are paid to shareholders.

Types of Debentures: 

Redeemable Debentures: Redeemable debentures earn, a specific date of redemption on the certificate. The company is legally bound to repay the principal amount to the debenture holders on that date.

Irredeemable (Perpetual) Debentures: On the other hand, irredeemable debentures, also known as perpetual debentures, do not cam any date of redemption. This means that there is no specific time of redemption of these debentures. They are redeemed either on the liquidation of the company or when the company chooses to pay them off to reduce their liability by issues a due notice to the debenture holders beforehand.

Convertible Debentures: Convertible debenture holders have an option of converting their holdings into equity shares. The rate of conversion and the period after which the conversion will take effect are declared in the terms and conditions of the agreement of debentures at the time of issue.

Non Convertible Debentures: Non-convertible debentures are simple debentures with no such option of getting converted into equity. Their state will always remain of debt and will not become equity at any point in time.

Fayol believed that all employees of his company, from the foremen to the CEO, should receive some type of managerial training. He developed a list of principles of management. He believed that there were more than fourteen of them, but chose to focus on those he found to be the most useful in his own career. 

The fourteen principles that Fayol concentrated on were:

(i) Division of Work: Work should be divided among individuals and groups to ensure that effort and attention are focused on special portions of the task. Fayol presented work specialization as the best way to use the human resources of the organization.

(ii) Authority: The concepts of Authority and responsibility are closely related. Authority was defined by Fayol as the right to give orders and the power to exact obedience. Responsibility involves being accountable and is therefore naturally associated with authority. Whoever assumes authority also assumes responsibility.

(iii) Discipline: A successful organization requires the common effort of workers. Penalties should be applied judiciously to encourage this common effort.

(iv) Unity of Command: Workers should receive orders from only one manager.

(v) Unit of Direction: The entire organization should be moving towards a common objective in a common direction.

The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix – Price, Product, Promotion and Place.

Price refers to the value that is put for a product. It depends on costs of production, segment targeted, the ability of the market to pay, supply-demand and a host of other direct and indirect factors. There can be several types of pricing strategies, each tied in with an overall business plan. Pricing can also be used as a demarcation, to differentiate and enhance the image of a product.

Product refers to the item actually being sold. The product must deliver a minimum level of performance; otherwise, even the best work on the other elements of the marketing mix won’t do any good.

Place refers to the point of sale. In every industry, catching the eye of the consumer and making it easy for her to buy it is the main aim of a good distribution or ‘place’ strategy. Retailers pay a premium for the right location. In fact, the mantra of a successful retail business is location, location, location’.

Promotion refers to all the activities undertaken to make the product or service known to the user and trade. This can include advertising, word of mouth, press reports, incentives, commissions and awards to the trade. It can also include consumer schemes, direct marketing, contests and prizes.

Features of Goods as an element of product mix 

• Goods are one of the elements of marketing mix or program. 

• Marketer can actualize its goals by producing, selling, improving and modifying the goods. 

• Goods include tangible and non-tangible features or benefits. 

• Goods are the medium to offer benefits and satisfaction to consumers.

Types of preference shares : 

Callable : The issuing company has the right to buy back these shares at a certain price on a certain date. Since the call option tends to cap the maximum price to which a preference share can appreciate (before the company buys it back), it tends to restrict stock price appreciation. Convertible : The owner of these preference shares has the option, but not the obligation, to convert the shares to a company’s common stock at some conversion ratio. This is a valuable feature w hen the market price of the common stock increases substantially, since the owners of preference shares can realize substantial gains by converting their shares.

Cumulative : If a company does not have the financial resources to pay a dividend to the owners of its preference shares, then it still has the payment liability’ and cannot pay dividends to its common shareholders for as long as that liability’ remains unpaid.

Non-cumulative : If a company does not pay a scheduled dividend, it does not have the obligation to pay the dividend at a later date. This clause is rarely used.

The example of a unitary and democratic state is United Kingdom. The example of a totalitarian communist state is China.

Unitary federalism means a federation with increasing powers of union government vis – a – vis states.

Two demerits of written constitution : 

(a) It does not keep pace with changing conditions. 

(b) It is not suitable to face emergencies.

Civil servants play an important but indirect role in law-making. They draft the bills which the ministers submit to the legislature for lawmaking. The ministers provide all the information asked for by the legislature and the legislative committees by taking the help of the civil servants.

The civil servants provide necessary information and advice to political executive in policy formulation.

Food Groups: It is a collection of varieties of foods which share similar nutritional properties on the food grouping, food items are generally classified on the basis of their nutrients.

Impact of early maturation in girls: The age at which most girls get their periods has become younger. But more dramatic changes have occurred in the younger ages at which girls enter puberty and start to develop physiological changes like developing of breast, broadening of hips etc. 

Girls who experience puberty earlier than their peers are at risk for mental health problems as teenagers because there’s such a mismatch between how they look and their emotional and cognitive maturity. More recent studies show that early maturation among girls may place them at a higher risk for anxiety, depression, early sexual exploration, dys functional responses to stress and problems in schoolt Early maturing girls may experience more difficulties because of the pressure. They feel in relation to male one are more likely to become involved in deviant activities such as drug or alcohol abuse.

Eating disorders in adolescence: Bulimia nervosa and Anorexia nervosa are the two eating disorders observed during adolescence.

Emotional concerns of the adolescent: Adolescents usually have number of emotional problems. They must learn to control and express emotions in socially approved manners. Further, they should develop the ability to be free from emotional involvements in various situations as much as possible. When someone criticizes adolescents they are easily hurt. They should learn to accept criticism without being hurt. 

If the emotions cannot be controlled they lead some major problems.

 Following are few emotional problems : 

• Eating disorder – fear of becoming overweight. 

• Feelings of helplessness and low self-esteem. 

• Jealously. 

• Experiment with sex and drugs, (drug abuse) 

• Loneliness. 

• Social acceptance: If we neglect a child, the child feel frustrated, dejected and neglected. This is the major problem for the adolescent.

1. Be honest with yourself. 

2. We should find ways (positive) to express anger. 

3. Be aware of one’s emotional level. 

4. Be able to distinguish others emotions.

Two adolescent eating disorders are : 

1. Bulimia nervosa 

2. Anorexia nervosa.

1. We know that adolescence is the most challenging and also complicating time of life. Because in this time many physical, mental and other psycological changes occurs. This is the time when an adolescent think that he can take his own decision mean want to be independent. This thing leads to a conflict between the adolescent and his parents. 

2. Generally, conflict increase when the child reach the puberty level. The child want to be self independent and do not want any type of guidance from his parents. 

3. The peer groups are also responsible in creating conflicts. 

4. Being alone the child become quite moody which also result in a conflict. 

5. Interference from the family.

Adolescent mainly have a number of emotional problems. Adolescents must have learn to control and express their emotions in a very systematic and socially approved manner. If these emotions cannot be controlled they leads some major problems. 

1. Experiment with sex and drugs, (sexual abuse) 

2. Feelings of helplessness and low self-esteem. 

3. Eating disorders – Fear of becoming over weight. 

4. Jealously. 

5. Social acceptance – Adolescents do a lot of things out of the desire for the acceptance and approval of their friends and society. If we neglect a child the child feel frustrated, dejected and neglected. This is a problem for the adolescent. Hence, we should take care of it.

Menarche is the first menstrual cycle or onset of menstruation in girls. This indication shows that the girl has reach puberty and is now capable of conceiving and bearing children.

Uses of Calcium: 

1. It is used in the diet of an adolescent for the growth of skeleton and teeth. 

2. It is also used for other physiological functions. 

Uses of Iron: 

1. It is essential for body tissues and blood. 

2. Onset of menstrual cycle in girls also increases the requirement of iron in the body of girls.

To minimize the loss of nutrients during cooking: 

1. Do not discard the water used for boiling foods like vegetables, chicken, legumes and rice. 

2. Reuse the water used for boiling foods to knead dough or in soups and curries. 

3. Pressure cooking and steaming food retain more nutrients than conventional boiling method. 

4. Microwave cooking also retains most of the nutrients than other methods of cooking. 

5. Avoid overcooking of foods like toasting bread, chapatis for long time to retain the nutrients. 

6. Cut the vegetables and fruits only at the time of cooking or consumption. 

7. Prior cutting/chopping makes the water soluble nutrients evaporate with the moisture of foods, especially vitamin C. 

8. Do not store cooked foods for long periods of time. If required, store in refrigerator in airtight containers.

Various stages of product life cycle are: 

1. Introduction Stage: During this stage the product is born. The firm informs the market about the existence and features of the product. Prices are high because of small scale of production and heavy promotional expenditure. Thus, the introduction stage is characterised by high costs, low sales volume, limited distribution and high prices. 

2. Growth Stage: In this stage the demand and sales grow rapidly, distribution is widened, competition increases and prices fall. 

3. Maturity Stage: During this stage, sales continue to grow but at a declining rate. Competition increases further and markets get stabilised. Prices are reduced due to competition but promotional expenditure remains high. As a result profits decline. 

4. Decline Stage: Sales fall down sharply and promotional expenditure has to be reduced drastically to minimise loss. 

5. Death Stage: Most firms shift their attention to other products gradually phasing out the declining product. 

Advantages of Product Life Cycle: 

1. When the product life cycle is known the firm can prepare an effective product plan. 

2. Management can take advance steps before the decline of the product. 

3. The maturity stage can be extended by finding new uses of the product. 

4. Technological innovations can be adopted to improve the quality, features and design of the product.

(i) Marginal Cost: Marginal cost is the cost of producing one additional unit of a product. The concept of marginal cost is very useful in making managerial decisions concerning price fixation, make or buy decisions, etc. 

It can be shown as: 

For example: The marginal cost of 4th unit is the change in total cost when output is increased from 3 units to 4 units. 

(ii) Opportunity Cost: Opportunity cost means the benefit sacrificed for selecting a particular course of action. It is the maximum advantage that could be obtained if the resource was put to an alternative use. The opportunity cost of producing one commodity A is the amount B that must be sacrificed in order to use resources to produce A rather than B. In other words, the opportunity cost of anything is the next best alternative that, could be produced instead by the same factors or by an equivalent group of factors costing the same amount of money. For example, a firm buys a machine for Rs. 25,000. This amount could be invested in shares or debentures. The loss of dividend or interest that could be earned is the opportunity cost. Opportunity cost is not recorded in books. It is useful in comparing alternatives and in making decisions.

Endorsement of Cheque: When a cheque is transferred by payee to someone else, it has to be endorsed by the payee by putting a signature at the back of the cheque. This act of signing is known as endorsement. 

1. Full or Special Endorsement: When the endorser specifies the name of the endorsee and signs the cheque, it is called full or special endorsement, e.g., ‘Pay to A Sd/- X’. The effect of such an endorsement is that the endorsee must endorse it again if he wants to transfer the property in the cheque to somebody else. A blank endorsement can be converted into a special endorsement by simply adding the name of the payee. 

2. Partial Endorsement: When the endorsement is made for a part of the amount of the cheque, it is called partial endorsement. For example, a cheque for Rs. 1,000 may be endorsed only for Rs. 500. Such an endorsement is not legally valid. But when Rs. 500 have already been paid to the endorsee, a cheque for Rs. 1,000 may be endorsed for the balance of Rs. 500. 

3. Facultative Endorsement: When the endorser waives his right of receiving the notice of dishonour, the endorsement is called facultative endorsement. For example, ‘Pay to Kishan Lai, notice of dishonour waived Sd/- Ram Lai’. In such an endorsement, the endorser remains liable even through the endorsee sens no notice of dishonour to him.

Variation in price of the commodity and adulteration are the two problems which the consumer face. There are many other problems too which the consumer face such as quality of product, misleading advertisement, defective weights.

Problems faced by consumers: 

A consumer faces many problems ranging from variation in price to malpractices followed by the shopkeepers. 

1. Variation in price: You may also find the price of some product vary from shop to shop. This always confuse a consumer whether he paid a right price for the product or the shopkeeper cheat him. At some shops the price of some commodities are higher than the others. 

It can be due to the following : 

• Shopkeeper is making high profit. 

• Consumers can pay high prices for those goods which are not easily available. 

2. Poor quality: One is often faced with such kind of problem of identifying a genuine product among the duplicate products. 

3. Adulteration: It indicates addition or removal of any substance from the original products in order to lower the quality of food stuff. 

4. Misleading advertisement: It is a forceful tool of persuading and influencing the judgement of the consumer. In advertisement, the product is so attractively advertised that the consumer gets confused to purchase that. 

5. Non-availability of goods: Sometimes the shopkeeper hoard commodity (ies) and create artificial shortage of that product. This result that the consumers have to pay more for that necessary things like rice, wheat, pulses. The consumers face a lot of difficulty in inconvenience.

Post office, Bank, Life Insurance Schemes and Public Provident Funds are some agencies which help in voluntary savings.

Kesari Dal (Lathyrus sativus): This is a staple food which is oftenly mixed with the other pulses. This is found in Madhya Pradesh, Uttar Pradesh, Bengal and Bihar. 

Ill effects: If any person consume high or excessive amount of Kesari Dal can suffer with a form of paralysis. It mainly occurs in boys and men in the age of 5-45 years. The disease starts with stiffness of the knee joints and legs with pain around the knee and ankle joints within 10 to 30 days. The person suffer from this disease becomes crippled as his knees gets bent and stiff.

1. It reduces economic insecurity especially in old age after retirement. 

2. Useful during an emergency i.e., Loss of job, accident, and any other natural calamities. 

3. Also useful for children’s education, marriage, etc.

Any three hues equidistant from one and other on the colour wheel are called triad colour scheme. 

Example: 

• Primary colours: Red, Blue, Yellow. 

• Secondary colours: Green, Purple, Orange. 

• Intermediate colours: Blue-Green, Yellow-Orange.

This is an important consideration which should always be in your mind while planning for a kitchen. A kitchen should always be large such that at a time two or three persons can work. Size of the kitchen should be such enough that you can put all your accessories in the kitchen like as refrigerator, oven and other storage.

1. Surplus Budget: These are those families whose income is more than expenditure can save extra amount of money. 

2. Balanced Budget: Those families whose income and expenditure are almost the same. They hardly have any money to save.

The two sources of light are : 

1. Sunlight 

2. Artificial lights – Flourocent tubes, LED bulbs.

Designers use the work triangle for the efficient use of kitchen. 

The three edges of the triangle are: 

1. Storage centre 

2. Preparation and mixing centre 

3. Cooking stove centre 

These three major units – Fridge, sink and cooking stove should ideally in a triangular arrangement to facilitate handling by the housewife. 

The work triangle among these three centre should not be less than 15 feet and more than 22 feet.