A country where the average income of people is much lower than that of developed countries, the economy depends upon a few crops and where farming is conducted by primary methods is called developing country. “A developing country is that in which per capita income is low when compared to the per capita incomes of U. S. A, Canada, Australia and Western Europe.” According to … [Read more...] about Characteristics of Developing Countries
Coke differentiation strategy is for development of product (soft drinks) and services (delivery) to offers unique feature & attributes. Value Addition in features helps a company to offer a special price for it. Like when you buy mineral water is cost you less but when you buy vitamin water, its price is little high. This higher price is to Cover Company’s cost that … [Read more...] about What is Coca Cola Differentiation Strategy?
International trade involves numerous factors such as payment for imports in the exporter’s country; shipment of goods within the limitations prescribed and difficulties of enforcing legal rights in the foreign country etc. Therefore, to overcome these hurdles, a system has been enforced; this system is represented by ‘Letter of Credit”. The letter of credit is today the … [Read more...] about Types of Letter of Credit
There are many things leading to success in business, all these factors collectively adds their input in business and results in better profit margins, more sales, stable business. However, neither every businessman is successful nor failed. Your success is driven within your own internal abilities. Let me clear, Entrepreneur is somewhat different from a businessman. Both … [Read more...] about Qualities of a Good Businessman
Partnership is combining two or more people in same business for mutual interest. Partnership have different advantages over sole proprietorship, joint stock companies and public limited companies. The other side of coin is Disadvantages of Partnership. Ease of Organization Partnership can be organized without any legal formalities. There is no license fee, … [Read more...] about Advantages of Partnership
Joint Stock Company is one of the business type in which a voluntary association of different persons created by law as a separate body for specific purposes. It possesses a common capital contributed by its members such capital being divided into transferable shares. The liability of each such member is limited to the face value of the shares he holds. It is formed and … [Read more...] about Winding Up of a Company
Bailment is an act, contract (with or without signed paper) between bailee and bailor. Bailee is the person who is given product/item/property or anything which is actually property of bailor. It is for specific time period. After that, bailor has right to take and Bailee has responsibility to return back. These must be carefully used under instructive manner. In simple … [Read more...] about Bailment
Set Off of Losses are The adjustment of losses from one head against the income, profits or gains of any other head of income during the same tax year is called set-off of losses. Carry Forward of Losses are The losses are not fully adjusted against the income of the same tax year and such losses are transferred to the next tax year, this process of transferring un- … [Read more...] about Carry Forward Losses & Set off Losses