Arguments against Social Responsibility:

1. Violation of Profit Maximization: As per this argument, business enterprises claim that our objective is profit maximization. Business can reduce its cost and raise profits and then only it can meet its social responsibility.
2. Lack of Social Skills: Business enterprises neither have skill nor experience to solve all types of social problems. Therefore, it should be handled by specialized agencies.
3. Burden on Consumers: Many of the social responsibilities cost a lot and its burden falls on consumers only.
4. Lack of Broad Public Support: Business cannot operate successfully because of lack of cooperation and confidence on behalf of public to business enterprises.

The portion of profits of a business that are not distributed as dividends to shareholders but are reserved for reinvestment back into business is called Retained Earnings (RE). 

Retained Earnings (RE) = Beginning RE + Net Income – Dividends.

 Hindrance of time resolved by warehousing, because there is time gap between production and consumption.

This hindrance is seasonal. If Ramesh starts to sell the winter wear early than the other competitors, then he might not face that hindrance.

The concept of business entity assumes that business has a distinct and separate entity from its owners. It means that for the purposes of accounting, the business and its owners are to be treated as two separate entities. 

Keeping this in view, when a person brings in some money as capital into his business, in accounting records, it is treated as liability of the business to the owner. 

Here, one separate entity (owner) is assumed to be giving money to another distinct entity (business unit). 

Information Technology

Information technology is shifting away from products such as packaged software towards services such as software as a service.

Hospitality

Any service that hosts guests such as a hotel, restaurant or pub.

Travel

Travel services such as a flight or tour.

Transportation

Daily transportation services such as a train.

Media

Media such as a newspaper, blog or video.

1) RTGS : RTGS is a system of interbanking settlement of transactions conducted among different banks on real time and gross basis. Real time settlement means settling transactions at the time when they take place; there is no time lag between transactions taking place and their settlement. Gross basis involves settling all transactions individually without matching any transaction with another. In RTGS system, every bank along with the Central Bank is linked electronically. Whenever any transaction takes place between two banks, it is settled by the RTGS system. A bank may know its liquidity position at any time during the transaction hours.
2) NEFT: NEFT is a nationwide system that facilitates individuals and organisations having bank accounts to transfer funds from their accounts electronically to individuals and organisations having any other bank accounts. However, the intending funds transferor must be authorised by the bank for this. For transferring the funds, the transferor may either use his own electronic resources (computer network). However, branches concerned (transmitting branch and receiving branch) must have NEFT facility. There is no limit on the amount of transfer of funds from the accounts.

Professional Outsourcing. Professional outsourcing includes accounting, legal, purchasing, information technology (IT), and IT or administrative support amongst other specialized services. This is one of the most popular types of outsourcing as there is potential for high cost savings.

• Professional Service Outsourcing. It's very common for many companies to outsource their complicated tasks and processes. ...
• Manufacturing outsourcing. This is the most pushed towards type. ...
• Process-Specific Outsourcing. Other models include very niche processes. ...
• Operational Outsourcing Service.

Ans.

a. Employment
b. Profession
c. Business. 
Business: Business refers to those economic activities, which are connected with the production or purchase & sale of goods or supply of services with the main object of earning a profit. To earn income in the form of profit people engage themselves in business.
Examples: fishing, mining, farming, manufacturing, wholesales etc.

Profession: Professions includes those activities, which require special knowledge & skill to be applied by individuals in their occupation. Those engaged in professions are known as professionals. Professionals are generally subjected to guidelines or codes of conduct laid down by professional bodies.
Examples: Lawyers are engaged in the legal profession, governed by the bar council of India & chartered accountants belonging to the accounting profession are subject to the regulations of the Institute of chartered accountants of India.
Employment: Getting remunerated in return for the work done for others refers to an employee. Employees are the people who are employed by others. Thus, people who work in factories, offices of banks, insurance companies or government department, etc at various posts are the employees of these organizations. They receive wages & salaries. Examples: working in offices, banks, insurance companies, shops, as a manager, clerk, peon, salesman etc.

Following is the feature of Business Risk depicted by the given statement:
Risk is an essential part of every business- Risk is an integral part of every business whether it is a small business or a big business. The volume of risk varies from firm to firm. A vigilant organisation may reduce this volume of risk but cannot escape from it.
 

• Increased revenues. 
• Decreased competition.
• Longer product lifespan.
• Easier cash-flow management. 
• Better risk management. 
• Benefiting from currency exchange. 
• Access to export financing. 
• Disposal of surplus goods.

Advantages

Reaching new customers

You probably have a good idea of how your business performs in its home country, but who knows how many more consumers and clients you could reach in a new location? The available pool of prospects will expand dramatically, and they may even have an enthusiasm for your products and services that outmatches the customers at home.

Spreading business risk

If your business should unfortunately encounter hard times in one location, continuing to operate in another will relieve some of the pressure. The more countries in which you have a presence, the more the ups and downs of business fortune will become smoothed out and easier to manage.

Accessing new talent

The success of your company may depend as much on the people you work with as the actions and decisions of you personally. Expanding to an international location could give you access to talented, invaluable new employees and business partners who would take your enterprise to the next level.

Amplifying your brand

Expanding your business out from its home country will have the effect of increasing the visibility and therefore brand equity of your name, logo and ethos. You can enjoy a reputation boost from international growth, and your new customers in the target location may perceive your business as having an exotic prestige. You will also have a great opportunity to extend the reach of your intellectual property, trademarks and copyrights to new regions.

Securing foreign investment

Investment firms and individuals are not distributed evenly across the globe, with large concentrations of investment money available in some areas and little in others. Depending on the target country for expansion, you may find that growing your business internationally gives you access to investment capital far beyond that which is available in your original location.

A courier service is a service that allows someone to send a parcel or consignment from one location to another. ... Senders have the option to have their parcels collected by a courier or drop their parcel off at a nearby location to be picked up later by the courier. A courier service is a premium, all-inclusive service which collects and delivers shipments in the shortest possible time frame, while postal services are generally used for transporting letters and parcels which can sometimes take some time to arrive at their final destination.

The NSC is a one-time investment. The investment can start from as low as Rs 100 and there is no maximum limit. However, once you touch the limit under Section 80C (Rs 1 lakh), the investments in NSC do not qualify for a tax deduction. TDS is deducted before being re-invested again in case of bank FD. NSC, in comparison with SBI and IDFC Bank FDs, is offering higher maturity value. ... NSC certificates can be used as collateral to obtain loan. However, a bank tax-saving FD cannot be used for the same as per Bank Term Deposit Scheme Rules.

VARIOUS FORMS OF E-BANKING:
INTERNET BANKING:
Internet Banking helps you manage many banking transactions online via your PC.

AUTOMATED TELLER MACHINES (ATM):
An automated teller machine or automatic teller machine (ATM) is an electronic computerized telecommunications device that allows a financial institution’s customers to directly use a secure method of communication to access their bank accounts, order or make cash withdrawals (or cash advances using a credit card) and check their account balances without the need for a human bank teller.

TELE BANKING:
By dialing the given Telebanking number through a landline or a mobile from anywhere, the customer can access his account and by following the user-friendly menu, entire banking can be done through Interactive Voice Response (IVR) system.

SMART CARD:
A smart card usually contains an embedded 8-bit microprocessor (a kind of computer chip). The microprocessor is under a contact pad on one side of the card. Think of the microprocessor as replacing the usual magnetic stripe present on a credit card or debit card.

The microprocessor on the smart card is there for security. The host computer and card reader actually “talk” to the microprocessor. The microprocessor enforces access to the data on the card.

The chips in these cards are capable of many kinds of transactions.

DEBIT CARD:
Debit cards are also known as check cards. Debit cards look like credit cards or ATM (automated teller machine) cards, but operate like cash or a personal check. Debit cards are different from credit cards. While a credit card is a way to “pay later,” a debit card is a way to “pay now.” When you use a debit card, your money is quickly deducted from your checking or savings account.

E-CHEQUE:
An e-Cheque is the electronic version or representation of paper cheque.

The main difference between Fire Insurance and Life Insurance is, fire insurance covers the losses caused by the properties of the policyholder whereas life insurance covers the losses that happened to the person of the policyholder. Life insurance covers your life. In case of policyholder’s premature demise within the policy term, the insurance company pays the sum assured to the nominee. One of the most essential financial instruments, life insurance helps your family to stay financially independent, square off liabilities taken in the form of loans, maintain the lifestyle provided, and keep essential goals on track.

DTH stands for Direct-to-home television. It is defined as the reception of satellite programmes with a personal dish in an individual home. Only cable operators can receive the satellite programmes which are transferred by them to individual homes. Hence, DTH services are provided by cellular companies. Direct-to-Home (DTH) television is a method of receiving satellite television by means of signals transmitted from direct-broadcast satellites. The Government of India permitted the reception and distribution of satellite television signals in November 2000.

The main features of recurring deposit account are as follows:-

1. The main objective of recurring deposit account is to develop regular savings habit among the public.
2. In India, minimum amount that can be deposited is Rs.10 at regular intervals.
3. The period of deposit is minimum six months and maximum ten years.
4. The rate of interest is higher.
5. No withdrawals are allowed. However, the bank may allow to close the account before the maturity period.
6. The bank provides the loan facility. The loan can be given upto 75% of the amount standing to the credit of the account holder.

Statutory Corporation:

• This type of organization is formed by passing a special act of Parliament. It is an initiative of private enterprises.
• It is completely owned by the state.
• Departmental Undertaking:
• It is a department which works under a minister and ensures high degree of public accountability.
• It is completely owned by government.

Government Company:

• This form of organization gets established under the Indian Companies Act of 1956.
• In this at least 51% of the share is owned by the central government or partly by both; central and states.

1.Active partner: A partner who contributes capital and also actively participates in the management and affairs of the business is called an active partner. He shares the profits and losses of the business and his liability is unlimited.
2.Sleeping partner: A partner who contributes capital but does not participate in the management and affairs of the business is called a sleeping partner. He shares the profits and losses of the business and has unlimited liability.
3.Secret partner : A partner whose association with the firm is not known to the general public is called a secret partner. He also contributes capital, shares profits and losses, participates in the management of the business and has unlimited liability.
4.Nominal partner : A partner who allows the
partnership firm to use his/her name but does not contribute any capital or take part in the management and affairs of the business. He does not share the profits and losses of the firm but he is liable to the creditors for the repayment of the firm’s debts.
5.Partner by estoppel: Partner by estoppel is a partner who, through his/her conduct or behaviour, gives an impression that he/she is a partner of a particular firm. Although such a person neither contributes capital nor participates in the management of the business, in the eyes of the third party he is known as a partner of that firm. Hence, he too is liable for the debts of the firms.
6.Partner by holding out : A person, who is not actually a partner of a firm but knowingly allows himself/herself to be represented as a partner of the firm is called a partner by holding out. Such a person can be held liable for the repayment of debt extended to the firm due to such representation. In order to avoid this liability, such a person should immediately clarify his position to the third party, stating the fact that he is not a partner. Failure in clarifying same would make him liable to the third party for repayment of any debts taken by the partnership firm.