meaning of business services class 11
5. CBSE Class 11 Business Studies Revision Notes CHAPTER : 2 Forms of Business Organisation class 11 Notes Business Studies. Lack of continuity – Partnership comes to an end with the death, retirement, insolvency or lunacy of any of its partner. 2) Partnership-Concept, types, merits and limitation of partnership, registration of a partnership firm, partnership deed. 5. 3. Registration of firm is compulsory. (ii) Articles of Association. The basis of membership is birth in a particular family. 2. Bold text indicates airlines for which business class is the highest class of service offered. Lack of continuity – Firms existence is affected by the death, Lunacy and insolvency of any of its partner. Brokers encourage the public to apply for the shares, underwriters are the person who undertake to buy the shares if these are not subscribed by the public. They provide loans to their members at easy terms and reasonably low rate of interest. Both alcoholic and non-alcoholic beverages are included, and are served in glassware or ceramic mugs. 2. , British Airways introduced "Club World", a separate premium cabin with numerous amenities, in October 1978 under CEO Colin Marshall as a means of further distinguishing full-fare business travelers from tourists flying on discounted fares. Certificate of Incorporation: After entering the name of the company in the register. E-BANKING: E-banking means banking transactions carried out with the help of computer systems (i.e., banking over the internet). Unlimited liability – Partners have unlimited liability. Select Amtrak trains in the United States offer a Business Class service. The number and classes of shares. Unlimited liability: The liability of owner is unlimited. Without registration no company can come into existence. It can own property, enter into contracts, can file suits in its own name. Lack of motivation – Members are not inclined to put their best efforts as there is no direct link between efforts and reward. After one year of divorce, her husband died in a car accident. Marine Insurance: A marine insurance is an agreement where by the insurer undertakes to indemnify the insured loss against perils of the sea. 2. E-business is an abbreviation for electronic business. Situation clauses – This clause contains the name of the state in which the registered office of the company is to be situated. In its minimum capital required is five lakhs. 1. 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. Business is the buying, selling & exchange of goods & services for-profit service or motive is commonly known as business. JetBlue also has a sub-fleet of A321s featuring their Mint Business Class, which alternates between a 2-2 lie flat seats and 1-1 suites with a closing door. The amount of share capital and different classes of shares. 3. 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. Sometimes they take decisions keeping in mind their personal interests and benefit, ignoring the interests of shareholders and Co. TYPES OF COMPANIES On the basis of ownership, companies can be divided into two categories – Private & Public. 5. 1. 10. myCBSEguide | CBSE Papers & NCERT Solutions. Inefficient management – Co-operative society is managed by elected members who may not be competent and experienced. 2. 3. 1. In the airline industry, it was originally intended as an intermediate level of service between economy class and first class, but many airlines now offer business class as the highest level of service, having eliminated first-class seating. These are listed in ascending order of perceived "quality". Perpetual Existence – Existence of a company is not affected by the death, insanity. endobj In case the assets of business are not sufficient to meet its debts, the personal property of owner can be used for paying debts 5. /Pages 2 0 R PARTNERSHIP. Moreover, it can’t afford to employ expert and experienced people at high salaries. 1. Continued business existence- The death, Lunacy of Karta will not affect the business as next eldest member will then take up the position. Consulting services can be for financial projects, business expansion projects or for a particular sector of business. Identification of Business Opportunity : The first and foremost function of a promoter is to identify a business idea e.g. 4. It refers to the physical movement of goods from one place to another. Application for incorporation: Promoters make an application for the incorporation of the company to the Registrar of companies.
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