meaning of business services class 11
November 13th, 2020

Limited managerial skills of karta also pose a serious problem. 1. There are certain restrictions on transfer of its shares. They provide loans to their members at easy terms and reasonably low rate of interest. 5. Types – life, health, fire and marine insurance – concept, 1) E – business: concept, scope and benefits, 3) Responsibility towards owners, investors, consumers, employees, government and community, 4) Role of business in environment protection, 2) Owners’ funds- equity shares, preferences share, retained earnings, Global Depository receipt (GDR), American Depository Receipt (ADR) and International Depository Receipt (IDR) – concept, 3) Borrowed funds: debentures and bonds, loan from financial institution and commercial banks, public deposits, trade credit, 1) Entrepreneurship Development (ED): Concept, Characteristics and Need. It purchases goods of daily consumption directly from manufacturer or wholesalers and sells them to the members at reasonable prices. Unlimited liability- The liability of partners is unlimited and they are liable individually as well as jointly. All the services collectively constitute the service sector. No separate legal entity: Legally there is no difference between business& businessmen. You can download Free Chapter Notes (Part-1) - Business Services, BST, Class 11 | EduRev Notes pdf from EduRev by Your email address will not be published. Download Revision Notes for CBSE Class 11 Business Studies.Short notes, brief explanation, chapter summary, quick revision notes, mind maps and formulas made for all important topics in Business Studies in Class 11 available for free download in pdf, click on the below links to access topic wise chapter notes based on 2020 2021 syllabus and guidelines issued for Grade 11. Fire insurance: It is a contract whereby the insurer undertakes to make good any loss/damage caused by fire during a specified period. Loyalty and Co-operation: It helps in securing better co-operation and greater loyalty from all the members who run the business. >> The consequences of non-registration of a firm are as follows: • A partner of an unregistered firm cannot file suit against the firm or the partner. Service sector includes commercial firms engaged in banking, communication, transport, insurance and warehousing. Documents involved in International Trade: indent, letter of credit, shipping order, shipping bills, mate’s receipt (DA/DP), World Trade Organization (WTO) meaning and objectives. Inefficient management – Co-operative society is managed by elected members who may not be competent and experienced. Two or more persons: There must be at least two persons to form a partnership. 2. Distribution of surplus: The profit is distributed on the basis of volume of business transacted by a member and not on the basis of capital contribution of members. endobj 3. 5. Bold text indicates airlines for which business class is the highest class of service offered. 1. 6. 4. The steps involved in the formation of a company are: A private company has to undergo only first two steps but a public company has to undergo all the four stages. 4. Explain the functions of commercial banks. Since a minor is not capable of enlarging into a valid agreement. Registration is also easy as it requires very few legal formations. Flights between hub airports during daytime hours are usually catered with a full warm meal regardless of the flight time. 1. out Commerce lecture & lessons summary in the same course for Commerce Syllabus. Situation clauses – This clause contains the name of the state in which the registered office of the company is to be situated. Name two companies that offer DTH services in our country. Perpetual Existence – Existence of a company is not affected by the death, insanity. So the buyer and the seller don’t meet personally. /Count 31 Business is the buying, selling & exchange of goods & services for-profit service or motive is commonly known as business. Nature of business: If the work requires personal attention such as tailoring unit, cutting saloon, it is generally setup as a sole proprietorship. Limited capital: There is shortage of capital as it is limited to the ancestral property. Auxiliaries to trade are also known as business services. 6. Minimum subscription: According to the SEBI guide lines minimum subscription is 90% of the issue amount. 1. The Registrar issues a Certificate of Incorporation. [20], While flying on a long-haul business-class flight, airlines such as Swiss, Lufthansa, SAS Scandinavian Airlines, and many others offer in-flight gourmet meals with a choice of entree. Distinguish between life insurance and fire insurance. The proposed name should not be identicator similar to the name of another exiting company. CBSE Reduced Syllabus by 30% for Session 2020-21, When CBSE will Conduct Remaining Exams (COVID-19). Larger financial resources – There are more funds as capital is contributed by no. x^��r��ί��nŜ0�W�JU�()���c�� �(�ER�����nt70�\�����~�Og?�}:3U����7u�#|�?�^��/{u�P�짳�/����1M5��Ż�ZM����;��I�����n��}e���dz�n�ޝ7���Ǐ��n���l���^�?���?_.v�;|��Wjйi�?mwn������;?��Xo/wM��=?�����ݶ��]���n����wg�.s_N��mU����"H?����K7��^�`��C���.

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