EDUCATIONAL WORLD

 Negotiable Instrument Negotiable Instruments are useful for making payments and discharging business obligations.commercial banks also deal with these instruments .the bank collects these instruments on behalf of the customer,discount these instruments on behalf of the customer. section 13 of the Indian negotiable instruments act(1881) defines a negotiable instrument as " a promissory note,bill of exchange or cheque payable either to order or the bearer ". there are three negotiable instruments , they are Cheque,promissory note, and bill of exchange. characteristics of negotiable instrument transfer ability   : negotiable instrument is freely transferable from one person to another person. negotiability       :  it means that the bonafide transferee of the instrument becomes a holder in due course and gets a better title than that  of the transferor  or any previous holders. right of action    : the person who have negotiable instrument have the right right to bring lega

sole proprietorship Sole proprietorship is popular type business organisation . it is the most suitable form for small scale industries. a business owned and managed and controlled by a single individual is known as "sole proprietorship".the individual is known as " sole proprietor". According to J.l.hansen " sole trader is a type of business unit where a person is solely responsible for providing the capital . for bearing the risk of the enterprise and for the management of business  ".

Oral communication or dynamic communication  Oral communication or dynamic communication is the transmission of message trough spoken words and refers to the interaction between two persons Advantages of oral communication Oral communication is less expensive Oral communication saves times Oral communication is more powerful The response of the receiver is know immediately Oral communication is more flexibile Oral communication promotes friendly relations and confidentiality  Oral communication is extremely useful while communicating with groups Oral communication removes misunderstanding and doubts immediately Disadvantages of oral communication Oral communication provides no documentary record for future. Oral communication does not provide sufficient time for thinking before speaking Persons who are not good presenters will fail in oral communication

  Quality Circle(QC) The concept of Quality Circle (QC) originally began in the United States and was exported to japan in 1950s. It is a work group of employees who meet regularly to discuss their quality problems,investigate the causes , recommend solutions and take corrective actions.generally , Quality Circle is a small group of employees belonging to the same and similar work area. A Quality Circle is participatory management technique that enlists the help of employees in solving problems related to their own jobs. Features of QC Improvement in quality of products manufacturing by the organisation. Improvement in methods of production Improvement of employees participating in quality Circle Promoting morale of employees Respect humanity and create happy workplace

  Internal Reconstruction Internal reconstruction refers to the internal organisation of the financial structure of a company.it is the internal reorganisation either by alteration or by the reduction in share capital. Reconstruction by alteration of the share capital is effected by increasing the share capital, consolidating or subdividing the shares, cancellation of unissued share etc. Internal reconstruction by reduction in share capital is the cancellation of any paid-up share capital which is lost or unrepresented by available assets.this is generally resorted to write-off the past accumulated losses of the company.internal reconstruction usually means capital reduction .under the scheme ,the paid-up share capital is reduced with their permission and the amount is utilised to write off the accumulated losses and fictitious assets of the company. According to sec.66 of the Indian companies act,2013 reduction of capital is possible only subject to the confirmation by the tribunal on

  Amalgamation Meaning When two or more companies go into liquidation and a new company is formed to take over the business of the liquidating companies,it is called amalgamation. Definition According to Halsbury's Laws of England, " Amalgamation is a blending of two or more existing into the undertaking,the shareholders of each blending company becoming substantially the shareholders in the company which is to carry on the blended undertakings.there may be amalgamation either by transfer of two or more undertakings to a new company or by the transfer of one or more undertakings to an existing company Objectives   Elimination of competition Price maintenance by regulating output Securing larger share of the market Equitable distribution of what is produced Building-up goodwill Avoiding duplication and reducing costs Introducing schemes of rationalisation Promoting research and development