Meaning of commission agent in English. someone who sells a company's products and receives a part of the money paid for the goods for doing this: Such business is conducted through commission agents who sell to their families and friends.

The executors have two main sets of responsibilities:

• ensuring that your estate is dealt with according to the law; and
• carrying out your wishes as you have set them out in your will.

One of the first things that the executors have to do is to value your estate, by assessing your assets and liabilities. This is so that they can determine whether any inheritance tax is payable, because in most cases the inheritance tax must be paid before a grant of probate can be obtained. It is probate that gives them the permission to distribute your estate.

The role of a trustee of a will trust starts after the administration period of your estate. If assets in the estate are to be held on ongoing will trusts, the executors pass those assets to the trustees of the will trust, who then become the legal owners of the assets and manage them in accordance with the terms of the will trust.

This explains why a will that contains a trust makes reference to the ‘executors’ and then, later in the will, to the ‘trustees’. If the will creates a trust of the whole estate, or the residuary estate, then the residuary estate is usually referred to as the ‘trust fund’ in the will.

Auxiliaries to trade help in the removal of hindrances in the process of exchange:-

1. Activities which are meant for assisting trade are known as auxiliaries to trade. They are generally known as 'Services' since they play a supporting role for the industry and trade to happen.
2. The auxiliaries help in removing the various hindrances which arise in connection with production, distribution and sale of goods.
3. The hindrances may be in respect of persons, place, time, risk, finance, etc.
4. For example, transport removes the hindrances of place by moving goods from the places of production to the markets for sale, storage and warehousing activities removes the hindrance of time by facilitating holding of stocks of goods to be sold as and when required.
5. This is how Auxiliaries facilitate movement, storage, financing, risk coverage and sales promotion of goods.

Types of human activities are mainly divided into 2 categories, namely:

1. Economic Activities​​​​​​
2. Non-Economic Activities

Economic Activity includes:

• Business: Business refers to those economic activities which are connected with the production,purchase,sale or distribution of goods or services with the main objectives of earning profit.
• Profession: Profession refers to the activities which require special knowledge and skill to be applied by and individual in his work to earn a living.
• Employment: It refers to an activity in which an individual works regularly for another person and gets remunerated in return.

Non Economic Activities:
The activities which are undertaken by an individual with a motive of getting psychological satisfaction are know as non-economic activities e.g., Going to temple,charity,social services,production for self-consumption etc.

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• Data Security: We provide digital signature and data encryption facility to the customers in order to deliver secured transaction processing, thus maintaining high degree of confidentiality for customer’s data
• Two Factor Authentication: Usage of soft token device
• Payment options :
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• Tax Payments : Payment of Direct/Indirect taxes

Partnership is considered by some to be relatively unpopular form of business ownership because: 

1. Uncertainty of duration: A partnership suffers from a possible limited span of life. Legally, a partnership firm must be dissolved on the retirement, death, bankruptcy, or lunacy of any partner or demanded by any partner. The probability of any one of these events occurring when the number of partners is much greater than in the case of a sole proprietor. 

2. Risks of additional liability: It is true that like the sole proprietor, each partner has unlimited liability. But his liability may arise not only from his own acts but also from the acts and mistakes of co-partners over whom he has no control. 

3. Lack of harmony: The old saying that “too many cooks spoil the broth” can be apt for a business partnership. Harmony may be difficult to achieve, especially when there are many partners. Lack of centralized authority and conflicts in policy can disrupt the organization. 

4. Difficulty in withdrawing investment: Investment in a partnership can be simple, but its withdrawal may be difficult or costly when this aspect is considered from the point of view of individual partners. This is so because no partner can withdraw his interest from the firm without the consent of all partners. 

5. Lack of public confidence: A partnership may suffer from lack of public confidence 

6. Lack of public confidence: A partnership may suffer from lack of public confidence because, like that of a company there is no legal mechanism to enforce the registration of a partnership firm and the disclosure of its affairs. 

7. Limited resources: A partnership is good as it can be started with limited capital. However, it becomes a handicap in the growth and expansion phases of the business. There is a limit beyond which it is almost impossible for partners to collect capital. This limit is generally up to the personal properties of the partners.

8. Unlimited liability: Unlimited liability discourages partners to undertake risky ventures, and therefore, their risk-taking initiative is very risky.

Different Types of Companies

• Royal Chartered Companies.
• Statutory Companies.
• Registered or Incorporated Companies.
• Companies Limited By Shares.
• Companies Limited By Guarantee.
• Unlimited Companies.
• Public Company (or Public Limited Company)
• Private Company (or Private Limited Company)

Small Scale enterprises provide the numerous benefits in rural area. The role of small business in rural India is explained in the following points. (i) Non-farm Employment Traditionally, rural households in India were exclusively engaged in agriculture. But now rural households have varied and multiple sources of income and participate in a wide range of non-agricultural activities such as wage employment and self-employment in commerce, manufacturing and services, along with the traditional rural activities of farming and agricultural labour. This can be largely attributed to the setting up of agro-based rural small industries. (ii) Employment for Artisans Cottage and rural industries play an important role in providing employment opportunities in the rural areas, especially for the traditional artisans and the weaker sections of society. (iii) Prevention of Migration Development of rural and village industries can also prevent migration of rural population to urban areas in search of employment. (iv) Poverty Alleviation Village and small industries are significant as producers of consumer goods and absorbers of surplus labour, thereby addressing the problems of poverty and unemployment. Promotion of small scale industries and rural industrialization has been considered by the Government of India as a powerful instrument for realizing the twin objective; of accelerated industrial growth and creating additional productive employment potential in rural and backward areas.' (v) Socio-economic Aspects These industries contribute amply to other socio-economic aspects, such as reduction inequalities, dispersed development of other sectors of the economy.

Hundi is a negotiable financial instrument which consists of an unconditional contract to warrant the payment of money, the promise or order. This word has come out from the Sanskrit word ‘hundi’ which means ‘to collect’. 

A hundi is a negotiable instrument. But it is not necessary to be a bill of exchange as given in the Act. Hundis are famous among Indian traders. Specifically, it is famous amongst those operating in suburban areas. These are under control of the Negotiable Instrument Act,1881 unless there is a local usage to the contrary.

Public Company means which is formed with minimum of seven members and three Directors. There is no restriction on maximum number of members.

बिज़नेस की परिभाषा बहुत ही simple है. यह एक ऐसा इकनॉमिक सिस्टम या ऑर्गनाइजेशन होता है जो कोई प्रोडक्ट या सर्विस को गवर्नमेंट, कंस्यूमर आदि को बेच कर पैसे कमाना होता है.

There are six basic types of e-commerce — Business-to-Business (B2B), Business-to-Consumer (B2C), Consumer-to-Consumer (C2C), Consumer-to-Business (C2B), Business-to-Administration (B2A) and Consumer-to-Administration (C2A) — and all of them represent a different purchasing dynamic. These risks include inventory, labor, overhead or supply-chain problems. Because most e-businesses do not have large physical locations or warehouses, they must rely on a supply chain for getting goods to consumers.

Working Note:

WN1 Calculation of Sale Price

Profit making is essential in business because of the following reasons :

(i) Incentive - Profits provide the basic stimulus to establish and operate business enterprises. Profit is the driving force behind private enterprise. It is the return on capital and reward for the risk of entrepreneurship.

(ii) Survival - Profit covers the risk and costs of staying in business. Profit helps to maintain intact the revenue generating capacity of business. Through profits, an enterprise can replace obsolete machinery and equipment.

(iii) Growth - In order to expand and grow, an enterprise needs funds. Retained earnings or ploughing back of profits is an important source of capital for expansion and innovation. Profits provide the means of self-financing.

(iv) Measure of efficiency - Profit is an important measure of success for a corporation. Profit is the criteria by which people evaluate the efficiency and performance of business enterprise.

(v) Prestige - A losing concern has no goodwill or image in society. Accumulation of wealth through business earning has enabled people to build business empires. Society, too, can progress only when human effort yields profit because a losing organisation leaves less for all to share.

In financial accounting, an asset is any resource owned by a business or an economic entity. It is anything that can be owned or controlled to produce value and that is held by an economic entity and that could produce positive economic value. Examples of assets include: Cash and cash equivalents. Inventory. It is often deemed the most illiquid of all current assets - thus, it is excluded from the numerator in the quick ratio calculation.

Tertiary industries are concerned with the firms that provides all kinds to services including consumer services, transportation for people, banking etc. But, Auxiliaries to trade are the activities that facilitate the trading process only. There are various auxiliaries to trade like banking and finance, advertising, warehousing etc.

Therefore, tertiary industries are wider in scope than auxiliaries to trade and they cover all auxiliaries to trade.

1. Sole Proprietorship: Sole proprietorship refers to a form of business organization which is owned, managed and controlled by an individual who is the recipient of all profits and bearer of all risks.
2. Hindu Undivided Family Business: It refers to a form of organization wherein the business is owned and carried by the members of the Hindu Undivided Family (HUF).
3. Partnership: Partnership is the relation between persons who have agreed to share the profit of the business carried on by all or any one of them acting for all.
4. Cooperative Society: Cooperative society is a voluntary association of persons, who join together with the motive of welfare of the members.
5. Joint Stock Company: A company is an association of persons formed for carrying out business activities and has a legal status independent of its members.
6. Multinational Corporations: An MNC is a company whose business operations extend beyond the country in which it has been incorporated.

The steps taken by promoters in the promotion of a company are as follows:

(i) Identification of business opportunity: The first and foremost activity of a promoter is to identify a business opportunity

(ii) Feasibility studies: The promoters undertake detailed feasibility studies to investigate all aspects of the business they intend to start. Depending upon the nature of the project, the following feasibility studies may be undertaken, with the help of the specialists like engineers, chartered accountants etc., to examine whether the perceived business opportunity can be profitably exploited.

(a) Technical feasibility: Sometimes an idea may be good but technically not possible to execute. It may be so because the required raw material or technology is not easily available. For example, if the raw material is not produced in the country and it cannot be imported because of poor political relations then the project would be technically unfeasible until arrangements are made to make it available from alternative sources.

(b) Financial feasibility: Every business activity requires funds. The promoters have to estimate the fund requirements for the identified business opportunity. If the required outlay for the project is so large that it cannot easily be arranged within the available means, the project has to be given up

(c) Economic feasibility: Sometimes it so happens that a project is technically viable and financially feasible but the chance of it being profitable is very little. Promoters then take the help of experts to conduct these studies.

When these investigations show positive results, then the promoters may decide to actually launch a company and move to further steps such as promoters have to select a name for the company and submit, an application to the registrar of companies of the state in which the registered office of the company is to be situated After that Promoters have to decide about the members who will be signing the Memorandum of Association of the proposed company. The promoters assist certain professionals such as mercantile bankers, auditors etc in the preparation of necessary documents which are required to be with the Registrar of Companies. The promoter takes up various steps to prepare certain legal documents, which have to be submitted under the law, to the Registrar of the Companies for getting the company registered. These documents are Memorandum of Association, Articles of Association and Consent of Directors.