MEANING,FEATURES AND DIFFERENCE BETWEEN BILL OF EXCHANGE AND CHEQUE

CA FOUNDATION BUSINESS LAW ESSENTIALS OF ACCEPTANCE

BEHAVIORALLY ANCHORED RATING SCALES

MEANING AND FEATURES OF CHEQUE AND DIFFERENCE BETWEEN BILL OF EXCHANGE AND CHEQUE

Ø  MEANING AND FEATURES  OF CHEQUE AND DIFFERENCE BETWEEN BILL OF EXCHANGE AND CHEQUE
BUSINESS LAW

Ø  SHASHI AGGARWAL ECONOMICS AND LAW CLASSES

• MEANING
• SECTION 6 OF THE NEGOTIABLE INSTRUMENT ACT:-

1. A CHEQUE OR A BILL OF EXCHANGE DRAWN ON A SPECIFIED BANKER
2. AND NOT EXPRESSED TO BE PAYABLE OTHERWISE THAN ON DEMAND
3. AND IT INCLUDES THE ELECTRONIC IMAGE OF TURNCATED CHEQUE AND A CHEQUE IN THE ELECTRONIC IMAGE

ESSENTIALS OF ACCEPTANCE BUSINESS LAW

Ø  CA FOUNDATION BUSINESS LAW
ACCEPTANCE
ESSENTIALS OF ACCEPTANCE
MEANING

• WHEN THE PERSON TO WHOM THE PROPOSAL IS MADE SIGNIFIES HIS ASSENT, IT IS AN ACCEPTANCE OF THE PROPOSAL.
• SECTION 2 (b) AN ACCEPTED PROPOSAL IS CALLED A PROMISE OR AN AGREEMENT.

THE EMPLOYEE’S COMPENSATION ACT.1923 PART 1

Ø  THE EMPLOYEE’S COMPENSATION ACT.1923
(THE WORKMEN’S COMPENSATION ACT)
INDUSTRIAL LAW

(THE WORKMEN’S COMPENSATION ACT)
INDUSTRIAL LAW

• INTRODUCTION

1. CAME INTO FORCE FROM JULY 1924
2. KIND OF SOCIAL SECURITY SCHEME FOR THE EMPLOYEE
3. IT ENABLES AN EMPLOYEE AND IN CASE OF DEATH OF AN EMPLOYEE,HIS DEPENDENTS TO GET AT THE COST OF THE EMPLOYER COMPENSATION FOR EMPLOYMENT INJURY
4. IT APPLIES TO THE WHOLE OF INDIA INCLUDING STATE OF JAMMU AND KASHMIR

GOVERNMENT MEASURES TO REMOVE POVERTY IN INDIA INDIAN ECONOMY

THEORY OF ENTREPRENEURSHIP 2 FUNDAMENTAL OF ENTREPRENEURSHIP

CAUSES OF POVERTY INDIAN ECONOMY

CA INTER CORPORATE LAW WINDING UP 1 COMPANIES ACT 2 013

CAUSES OF POVERTY IN INDIA AND GOVERNMENT MEASURES TO REMOVE POVERTY

Ø  CAUSES OF POVERTY IN INDIA AND GOVERNMENT MEASURES TO REMOVE POVERTY
INDIAN ECONOMY

INDIAN ECONOMY

Ø  SHASHI AGGARWAL ECONOMICS AND LAW CLASSES

Ø  ECONOMICS,COMMERCE AND MANAGEMENT GROUP

Ø  CAUSES OF POVERTY

MEANING.SOURCES AND KINDS OF AUTHORITY

THEORY OF COMPARATIVE COST 1 INTERNATIONAL TRADE

THEORY OF COMPARATIVE COSTS 1

Ø  CLASSICAL THEORY OF INTERNATIONAL TRADE 1

(THEORY OF COMPARATIVE COSTS)

SHASHI AGGARWAL ECONOMICS AND LAW CLASSES

Ø  THEORY OF COMPARATIVE COSTS 1

1. GIVEN BY DAVID RICARDO IN HIS BOOK,PRINCIPLES OF POLITICAL ECONOMY AND TAXATION (1817)
2. DAVID RICARDO BELIEVED THAT THE INTERNATIONAL TRADE IS GOVERNED BY THE COMPARATIVE COST ADVANTAGE RATHER THAN ABSOLUTE COST ADVANTAGE. A COUNTRY WILL SPECIALIZE IN THAT LINE OF PRODUCTION IN WHICH IT HAS A GREATER RELATIVE OR COMPARATIVE ADVANTAGE IN COSTS THAN OTHER COUNTRIES WILL DEPEND UPON IMPORT FROM ABROAD OF ALL SUCH COMMODITIES IN WHICH INDIA HAS RELATIVE COST ADVANTAGES.
3. ACCORDING TO THIS THEORY EVERY COUNTRY SHOULD SPECIALIZE IN PRODUCTION I.E SHE SHOULD EXPORT THOSE GOODS IN WHICH SHE HAS GREATER COMPARATIVE ADVANTAGE AND IMPORT THOSE GOODS IN THE PRODUCTION OF WHICH SHE HAS GREATER COMPARATIVE DISADVANTAGE

MEANING,SOURCES AND KINDS OF AUTHORITY

• AUTHORITY,POWER AND POLITICS
  ORGANIZATION BEHAVIOR
  C.S.E MAIN EXAM COMMERCE AND ACCOUNTANCY
• BASIC ORGANIZATIONAL RELATIONSHIP IN FORMAL ORGANIZATION

1. RESPONSIBILITY
2. AUTHORITY
3. ACCOUNTABILITY

• MEANING OF AUTHORITY

1. AUTHORITY IS THE RIGHT TO GIVE ORDERS AND POWER TO EXACT OBEDIENCE.
2. AUTHORITY DENOTES CERTAIN RIGHTS GRANTED TO A POSITION IN AN INSTITUTION. IT INCLUDES RIGHT TO TAKE DECISIONS AND GET THEM EXECUTED FROM THE SUBORDINATES

MEANING OF MARGINAL EFFICIENCY OF CAPITAL IN SIMPLE WORDS

Ø  MEANING OF MARGINAL EFFICIENCY OF CAPITAL IN SIMPLE WORDS

Ø  MACRO ECONOMICS/PRINCIPLES OF ECONOMICS

•     MARGINAL EFFICIENCY OF CAPITAL

•     REFERS TO EXPECTED RATE OF RETURN ON NEW INVESTMENT OR ANEW CAPITAL PROJECT LAUNCHED IN BUSINESS.

•     DIALLARD,” THE MARGINAL EFFICIENCY OF PARTICULAR TYPE OF CAPITAL ASSET IS THE HIGHER RATE OF RETURN OVER COST EXPECTED FROM AN ADDITIONAL OR MARGINAL UNIT OF THAT TYPE OF ASSET.

•     MARGINAL EFFICIENCY OF CAPITAL IMPLIES THE INCOME RECEIVED AFTER DEDUCTING THE COST FROM THE RETURN OF AN ADDITIONAL UNIT OF CAPITAL

•     MEANING OF MARGINAL EFFICIENCY

1. MEANS EXPECTED RATE OF RETURN ON INVESTMENT AT PARTICULAR TIME
2. MEC OF CAPITAL IS COMPARED TO THE RATE OF INTEREST
3. KEYNESIAN THEORY SUGGESTED INVESTMENT WILL BE  INFLUENCED BY
1. THE MARGINAL EFFICIENCY OF CAPITAL
2. THE INTEREST RATE

c.     SUPPOSE FOR MAKING INVESTMENT OF RS 100 IF MEC IS 10% AND INTEREST IS 8% THEN WE WILL MAKE THE INVESTMENT. MEC IS 7% AND RATE OF INTEREST IS 8% WE WILL NOT MAKE INVESTMENT

•     DETERMINANTS OF MEC

1.     PROSPECTIVE YIELD:-THE PROSPECTIVE YIELD OF AN ASSET IS THE AGGREGATE NET RETURN EXPECTED FROM IT DURING THE LIFE TIME OF USE. THE PROSPECTIVE YIELD OF A NEWLY PLANNED INVESTMENT PROJECT IS CALCULATED FROM MARGINAL REVENUE PRODUCTIVITY-ASSOCIATED VARIABLE COST

2.     SUPPLY PRICE:-THE SUPPLY PRICE OF CAPITAL ASSET IS THE COST OF PRODUCING A NEW ASSET OF THAT KIND, NOT THE SUPPLY PRICE OF AN EXISTING ASSET.

•      RATE OF INTEREST

1.     INTEREST IS THE COST OF MONEY INVESTED.

2.     KEYNES ,: INTEREST IS THE REWARD FOR PARTING WITH LIQUIDITY

3.     IF MONEY IS BORROWED FROM OTHERS TO INVEST, INTEREST WILL HAVE TO BE PAID ON IT.

4.     ON THE CONTRARY IF THE INVESTOR HAS HIS OWN MONEY HE COULD USE IT PURCHASING SECURITIES AND BONDS WHILE INVESTING HE HAS TO SACRIFICE SUCH INCOME

APPOINTMENT OF AUDITOR COMPANY LAW/AUDITING

JOB ENLARGEMENT VS JOB ENRICHMENT

PUBLIC ENTERPRISES 2 BUSINESS STUDY

JOB ENLARGEMENT VS JOB ENRICHMENT

Ø  JOB ENLARGEMENT VS JOB ENRICHMENT
ORGANIZATION BEHAVIOR
HUMAN RESOURCE MANAGEMENT

• MEANING OF JOB ENLARGEMENT

1. REFERS TO ENLARGING THE RANGE OF TASKS IN A JOB TO MAKE IT MORE BROAD BASED
2. STRATEGY ADOPTED BY MANY MANAGERS TO REDUCE THE ILL EFFECTS OF DIVISION OF LABOUR
3. INVOLVES THE EXPANSION OF THE SCOPE AND WIDTH OF THE JOB BY MEANS OF HORIZONTAL LOADING OF CERTAIN CLOSELY RELATED OPERATIONS.
4. ADDITIONAL TASKS OR DUTIES DO NOT REQUIRE NEW SKILLS BUT CAN BE PERFORMED WITH THE SAME SKILLS

PUBLIC ENTERPRISE 1 BUSINESS STUDY

C S E MAIN COMMERCE AND ACCOUNTANCY DETERMINANTS OF PERSONALITY

ALWAYS BETTER CONTROL ABC TECHNIQUE OF SELECTIVE INVENTORY CONTROL

MEANING OF MARGINAL EFFICIENCY OF CAPITAL IN SIMPLE WORDS

POVERTY LINE IN INDIA 1 INDIAN ECONOMY

C.S.E MAINS COMMERCE AND ACCOUNTANCY FORMAL VS INFORMAL ORGANIZATION

MEANING OF HOLDER HOLDER IN DUE COURSE AND PRIVILEGES OF HOLDER DUE COURSE

MARKET SEGMENTATION,TARGETING AND POSITIONING 2

RESOLUTIONS UNDER COMPANIES ACT 2013

MEANING AND TYPES OF THE RESOLUTIONS UNDER COMPANIES ACT 2013

Ø  RESOLUTION UNDER THE COMPANIES ACT,2013
COMPANY LAW

Ø  MEANING OF RESOLUTION

• A COMPANY BEING AN ARTIFICIAL PERSON ANY DECISION TAKEN BY IT SHALL BE IN THE FORM OF A RESOLUTION,
• A RESOLUTION MAY BE DEFINED AS AN AGREEMENT OR DECISION MADE BY THE DIRECTOR OR MEMBERS ( OR A CLASS OF MEMBERS ) OF A COMPANY. A PROPOSED RESOLUTION IS A MOTION. WHEN A RESOLUTION IS PASSED A COMPANY IS BOUND BY IT.

MEANING OF HOLDER ,HOLDER IN DUE COURSE AND PRIVILEGES OF HOLDER IN DUE COURSE

Ø  PRIVILEGES OF HOLDER IN DUE COURSE

Ø  NEGOTIABLE INSTRUMENTS

Ø  BUSINESS LAW

Ø  SHASHI AGGARWAL AND LAW CLASSES

Ø  HOLDER ( SEC8)

POVERTY IN INDIA 1

Ø  POVERTY IN INDIA

Ø  INDIAN ECONOMY

Ø  SHASHI AGGARWAL ECONOMICS AND LAW CLASSES

Ø  MEANING OF THE POVERTY

• POVERTY IS THE INABILITY TO GET THE MINIMUM CONSUMPTION REQUIREMENT FOR LIFE ,HEALTH AND EFFICIENCY. IN ABILITY TO FULFILL EVEN THE BASIC REQUIREMENT OF LIFE(FOOD,SHELTER CLOTHING). THE TERM POVERTY IS USED IN TWO WAYS:-

1. ABSOLUTE POVERTY:
2. RELATIVE POVERTY

• TYPES OF POVERTY

1. ABSOLUTE POVERTY
2. RELATIVE POVERTY
3. SITUATIONAL POVERTY:-TEMPORARY TYPE OF POVERTY BASED ON THE OCCURRENCE OF AN ADVERSE EVENT LIKE ENVIRONMENTAL DISASTER,JOBLESS AND SEVERENESS HEALTH PROBLEM. PEOPLE CAN HELP THEMSELVES EVEN WITH A SMALL ASSISTANCE
4. GENERATIONAL POVERTY:-IT IS HANDED OVER TO INDIVIDUAL AND FAMILIES FROM ONE GENERATION TO THE ONE. THIS IS MORE COMPLICATED AS THERE IS NO ESCAPE .
5. RURAL POVERTY:-IT OCCURS IN RURAL AREA WITH POPULATION BELOW 50,000. IT IS THE AREA WHERE ARE LESS JOB OPPORTUNITIES.THE RURAL POVERTY RATE IS GROWING HAS EXCEEDED THE URBAN RATE.
6. URBAN POVERTY:-IT OCCURS IN THE METROPOLITAN AREA WITH POPULATION MORE THAN 50,000. MAJOR CHALLENGES FACED BY URBAN POOR LIKE LIMITED ACCESS TO HEALTH,EDUCATION,INADEQUATE HOUSING FACILITY AND UNHEALTHY ENVIRONMENT.

• ABSOLUTE POVERTY

1. ALSO KNOWN AS EXTREME POVERTY. IT INVOLVES THE SCARCITY OF BASIC FOODS,CLEAN WATER,HEALTH,SHELTER END EDUCATION AND INFORMATION. MEASURE OF POVERTY KEEPING IN VIEW THE ECONOMIC CONDITIONS OF A COUNTRY. POVERTY HAS BEEN DEFINED IN THE CONTEXT OF PER CAPITA INTAKE OF CALORIES AND MINIMUM LEVEL OF PER CAPITA CONSUMPTION EXPENDITURE.
2. FIRST INTRODUCED IN 1990 THE DOLLAR A DAY POVERTY LINE MEASURED ABSOLUTE POVERTY BY THE STANDARDS OF THE WORLD’S POOREST COUNTRY. IN OCTOBER 2015,THE WORLD BANK RESET IT DOLLAR 1.90 A DAY. THIS NUMBER IS CONTROVERSIAL,THEREFORE  EACH NATION HAS ITS OWN THRESHOLD FOR ABSOLUTE POVERTY LINE

3.     CALORIE CRITERIA:- THE ENERGY THAT AN INDIVIDUAL GETS FROM THE FOOD THAT HE EATS EVERY DAY IS MEASURED IN TERMS OF CALORIES. VIEW WAS FIRST PRESENTED BY LORD BOYOD ORR THE FIRST DIRECTOR GENERAL OF WORLD FOOD AND AGRICULTURE ORGANIZATION. ACCORDING TO HIM AN INDIVIDUAL MUST GET MINIMUM 2300 REQUIREMENT CALORIES PER DAY

IN INDIA PLANNING COMMISSION THAT AN INDIVIDUAL IN RURAL AREA MUST GET 2400 CALORIES AND IN URBAN AREA 2100 CALORIES PER DAY.

4. MINIMUM CONSUMPTION EXPENDITURE CRITERIA:-THOSE PEOPLE WILL BE TREATED AS LIVING BELOW THE POVERTY WHOSE PER CAPITA CONSUMPTION EXPENDITURE AT 2004 PRICES BELOW 368 PER MONTH IN RURAL AREA AND BELOW 559 PER MONTH IN URBAN AREA. FIXED BY NATIONAL SAMPLE SURVEY ORGANISATION IN 2004. FOR THE YEAR 2004-2005 22% OF INDIA ‘S POPULATION IS STILL LIVING BELOW POVERTY LINE.

• RELATIVE POVERY

1. IT IS DEFINED FROM THE SOCIAL PERSPECTIVE THAT IS LIVING STANDARD COMPARED TO THE ECONOMIC STANDARD OF POPULATION LIVING IN SURROUNDING.
2. RELATVE POVERTY IS MEASURED AS THE PERCENTAGE OF THE POPULATION WITH INCOME LESS THAN SOME FIXED PROPORTION OF MEDIAN INCOME.
3. REFERS TO POVERTY ON THE BASIS OF COMPARISON OF PER CAPITA INCOME OF SOME DIFFERENT COUNTRIES. THE COUNTRIES WHOSE PER CAPITA INCOME IS QUITE LESS IN COMPARISON TO OTHER COUNTRIES IS RELATIVELY POOR COUNTRY.
4.  
   

• DIFFERENCE BETWEEN ABSOLUTE AND RELATIVE DIFFERENCE
• ABSOLUTE

1. LACK OF BASIC RESOURCES
2. POVERTY LINE IS THRESHOLD LEVEL THAT DEFINES INDIVIDUAL LIVING IN ABSOLUTE POVERTY AS THE ONES LIVING BELOW IT.
3. REFERS TO SET OF CONDITION WHICH IS THE SAME IN EVERY COUNTRY AND DOES NOT CHANGE OVER A PERIOD OF TIME

• RELATIVE

1. MORE TO DO WITH THE INCOME INEQUALITY
2. IT MEASURES THE DEGREE OF POVERTY.IT IS PHENOMENON OF RELATIVE DEPRIVATION
3. RELATIVE POVERTY ON THE OTHER HAND REFERS TO CONDITION WHICH ARE SUBJECTIVE TO THE SOCIETY IN WHICH THE PERSON LIVES AND VARY BETWEEN CONTRY.

Ø  POVERTY LINE

1. POVERTY LINE IS THE LINE WHICH INDICATES THE LEVEL OF PURCHASING POWER REQUIRED TO SATISFY THE MINIMUM NEEDS OF A PERSON.
2. PURCHASING POWER CAN BE  EXPRESSED IN THE FORM OF AVERAGE PER CAPITA MONTHLY EXPENDITURE.
3. LINE DIVIDES THE POPULATION IN TWO PARTS ONE OF THOSE WHO HAVE THIS PURCHASING POWER AND THE OTHER ONE WHO DOES NOT.
4. ABOVE POVERTY LINE COVER THOSE WHO HAVE THE MINIMUM REQUIRED PURCHASING  POWER OR MORE
5. BELOW POVERTY LINE THOSE WHO DO NOT HAVE MINIMUM PURCHASING POWER TERMED AS POOR.
6. POVERTY LINE IS THE LEVEL OF INCOME TO MEET THE MINIMUM LIVING CONDITIONS.
7. POVERTY LINE IS THE AMOUNT OF MONEY NEEDED FOR A PERSON TO MEET HIS BASIC NEEDS.IT IS DEFINED AS THE MONEY VALUE OF GOODS AND SERVICES NEEDED TO PROVIDE BASIC WELFARE TO AN INDIVIDUAL.
8. IN DEVELOPED COUNTRIES WHERE THE ADVANCED STANDARD OF LIVING AND WELFARE CONCEPTS,POVERTY LINE IS HIGH AS BASIC STANDARD TO LIVE INCLUDE HIGHER CONSUMPTION REQUIREMENTS AND ACCESSIBILITY TO MANY GOODS AND SERVICES.
9. IN MANY LESS DEVELOPED COUNTRIES THE BASIC REQUIREMENT WILL BE LOW AND CONTAINS MOSTLY ESSENTIAL CONSUMPTION ITEMS NEEDED TO SUSTAIN LIFE.
10. POVERTY LINE IS SET BY THE WELFARE STANDARD IN PARTICULAR SOCIETY.

Ø  DETERMINATION OF POVERTY LINE IN INDIA

1. FIRST TIME IN 1962 BY WORKING GROUP OF EMINENT ECONOMISTS LIKE PROF D.R. GADGIL,B.N.GANGULI,DR. P.S LOKANATHAN
2. THEY TOOK THE REQUIREMENT OF MINIMUM STANDARD OF LIVING AND A DIET BASED RECOMMENDATION,THEY RECOMMENDED A MINIMUM CONSUMPTION EXPENDITURE LEVEL OF RS 20 PER CAPITA PER MONTH FOR RURAL AREA AND RS 25 PER CAPITA PER MONTH FOR URBAN AREA AT 1960-61
3. POVERTY IN INDIA IS DEFINED BY NATIONAL SAMPLE SURVEY ORGANIZATION.ONCE IN 5 YEARS NSSO CONDUCTS A LARGE SURVEY TO ESTIMATE POVERTY.AS PER NSSO REPORTS OF THE YEAR 2004-2005,POVERTY LINE IS DEFINED AS EXPENDITURE REQUIRED FOR A DAILY INTAKE OF CALORIE 2400 PER PERSON IN RURAL AREA AND 2100 PER PERSON PER MONTH IN URBAN AREA.PER MONTH THIS EXPENDITURE IS 446,48 IN RURAL AND IN URBAN IT IS 578.AS PER NSSO ESTIMATE 22% OF INDIAN POPULATION IS LIVING BELOW POVERTY LINE I.
4. PLANNING COMMISSION ESTIMATES THE LEVEL OF POVERTY IN INDIA  ON THE BASIS OF CONSUMER EXPENDITURE SURVEY CONDUCTED BY NSSO.THE METHODOLOGY FOR POVERTY ESTIMATION IS BASED ON THE RECOMMENDATION OF AN EXPERT GROUP TO REVIEW THE METHODOLOGY FOE ESTIMATION OF POVERTY( TENDULKAR COMMITTEE) ESTABLISHED IN 2005.
5. THE COMMITTEE RECOMMENDED USING MIXED REFERENCE PERIOD AS OPPOSED TO UNIFORM REFERENCE PERIOD
6. BASED ON CONSUMPTION OF THE FOLLOWING ITEMS CEREAL,PULSES,MILK,EDIBLE OIL,NON VEGETARIAN ITEM,VEGETABLES,FRESH FRUITS,DRY FRUITS,SALT AND SPICES,OTHER FOOD,INTOXICANTS,FUEL,CLOTHING,FOOTWEAR,EDUCATION,ENTERTAINMENT ETC

Ø  DEFINITION OF POVERTY LINE IN INDIA

 IN INDIA DEFINING A POVERTY LINE HAS BEEN CONTROVERSIAL SINCE MID 1970 WHEN THE FIRST SUCH POVERTY LINE WAS CREATED BY THE PLANNING COMMISSION. IT WAS BASED ON MINIMUM DAILY REQUIREMENT OF 2400 AND 2100 CALORIES REQUIREMENT OF 2400 AND 2100 CALORIES FOR AN ADULT IN RURAL AND URBAN AREA.ECONOMISTS SUCH AS DT LAKDAWALA AND LATER YK ALAGH AMONG OTHERS WERE INOVLVED IN WORKING OUT THE POVERTY LINE FROM TIME TO TIME.

1. SOME MODIFICATION WERE DONE BY SURESH TENDULKAR(2009) AND C RANGRAJAN(2014) CONSIDERING THE OTHER BASIC REQUIREMENT OF POOR SUCH AS HOUSING,CLOTHING,EDUCATION,HEALTH,SANITATION,CONVEYANCE,FUEL,ENTERTAINMENT ETC
2. THE TENDLUKAR COMMITTEE STIPULATED BENCH MARK DAILY PER CAPITA EXPENDITURE OF RS 27 IN RURAL AND RS 33 IN URBAN AREA AND ARRIVED AT CUT OFF 22% OF THE POPULATION BELOW POVERTY LINE.
3. LATER THE RANGRAJAN COMMITTEE RAISED THESE LIMITS TO RS 32 AND RS 47 IN RURAL AND URBAN RESPECTIVELY. AND WORKED OUT POVERTY 30%
4. THE DATA PEGGED THE POVERTY RATIO AT 29.8% OF THE POPULATION IN 2009-10 FROM 37.2.% IN 2004-2005.

NATIONAL POVERTY ESTIMATE( BELOW  IN % POVERTY LINE IN 1993-2012)

1.