E-business or Online business means business transactions that take place online with the help of the internet. Two or more persons: There must be at least two persons to form a partnership. Insolvency of member or change of membership. A public company can raise funds from the public by issuing shares and Debentures. However, it is uncommon for all seats to have direct aisle access. 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. Easy to start and close: It can be easily started and closed without any legal formalities. Social utility: It promotes personal liberty, social justice and mutual cooperation. A minor is a person who has not attained the age of 18 years. In such case it will have to tile a statement in lieu of prospectus with the Registrar of companies. Rules regarding casting of votes and proxy voting 7. Every partner is liable for acts performed by other partners on behalf of the firm. Service sector includes commercial firms engaged in banking, communication, transport, insurance and warehousing. E-business is an abbreviation for electronic business. • Method of solving dispute. Do check out the sample questions 3. He cannot become partner of firm. 2. 3. 1. 6. Procedure for issuing share certificates. Payment of fees: Along with filing of above documents, registration fee has to be deposited which depends on amount of the authorized capital. Secrecy – Secrecy can be easily maintained about business affairs as they are not required to publish their accounts or to file any report to the govt. 2. Commerce Chapter Notes (Part-1) - Business Services, BST, Class 11 | EduRev Notes Summary and Exercise are very important for 6. (vi) Statutory declaration. Separation of ownership and control – Management of company is in the hands of elected representatives of shareholders known individually as director and collectively as board of directors. Lack of continuity – Partnership comes to an end with the death, retirement, insolvency or lunacy of any of its partner. 1. The alcoholic beverage choices for business-class cabins are generous, with airlines offering different premium wines, and an assortment of beers and liqueurs.[21]. Flights between Perth and Sydney typically feature lie-flat seats, with deep recline cradle seats on other routes. It purchases goods of daily consumption directly from manufacturer or wholesalers and sells them to the members at reasonable prices. Until June 2009, Via Rail in Canada premium-class service was called "Via 1", on short-range routes oriented towards business travel. On shorter routes (typically less than one hour) many airlines have removed business class entirely (e.g. International Business Class passengers have access to priority check-in and security, along with lounge access. /Pages 2 0 R of joint Hindu families in the country. 3. Rights of each class of shareholders. 4. Important Questions for Class 11 Accountancy are prepared by subject matter experts from the latest version of CBSE books. /Font << Sharing of Risks – In it, risk get distributed among partners which reduces anxiety, burden and stress on individual partner. Perpetual Existence – Death, insolvency and insanity or change of members as no effect on the life of a company. 2) Business – meaning and characteristics, 3) Business, profession and employment Concept, 5) Classification of business activities – Industry and Commerce, 6) Industry-types: primary, secondary, tertiary Meaning and subgroups, 7) Commerce-trade: (types-internal, external; wholesale and retail) and auxiliaries to trade; (banking, insurance, transportation, warehousing, communication, and advertising) – meaning. This document is highly rated by Commerce students and has been viewed 37163 times. 6. 8. It is owned by the members of undivided joint Hindu family and managed by the eldest member of the family known as KARTA. The maximum no. A statutory declaration that the above requirements have been completed and must be signed by the director of company. 4 0 obj CBSE Reduced Syllabus by 30% for Session 2020-21, When CBSE will Conduct Remaining Exams (COVID-19). Sole risk bearer and profit recipient: He bears the complete risk and there is no body to share profit/loss with him. CBSE Class 11 Business Studies Revision Notes CHAPTER : 2 Forms of Business Organisation class 11 Notes Business Studies. Get the deleted syllabus of Class 11 Business Studies 2020-21 from the table mentioned below. The forward cabin is marketed as "First Class" on domestic routes but regardless uses a Business Class fare basis. You can also find Chapter Notes (Part-1) - Business Services, BST, Class 11 | EduRev Notes ppt and other Commerce slides as well. • Investment made by each partner. The main service is  postal and telecommunication. 5. American uses a dedicated sub-fleet of 3-cabin A321T planes with 20 lie-flat Flagship Business seats in a 2-2 configuration for these flights. Excise of formation: It can be started with minimum of 10 members. Business Services class 11 Notes Business Studies in PDF are available for free download in myCBSEguide mobile app. However, a minor can be admitted to the benefits of an existing partnership firm with the mutual consent of all other partners. Formation – For a joint Hindu family business there should be at least two members in the family and some ancestral property to be inherited by them. Lack of public confidence – Partnership firms are not required to publish their reports and accounts. There are essentially three types of long-haul business-class seats today. 5. Nature/Features/characteristics of Services: Bank Services: bank  is an institution that accepts deposits, withdrawal by cheques and makes loans and advances for the purpose of earning profits.


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