Do you mean contract manufacturing? It is a form of outsourcing..means you make a contract with a firm for components or product

An ancillary unit is the unit which supplies not less than 50% of its production to the parent unit.

Chapter no.

Startup means to start a program with the help of any app (the app is called the startup )

Features of Statutory Corporations: It is a corporate body: It is an artificial person created by law and is a legal entity. Such corporations are managed by Board of Directors constituted by Government. A corporation has a right to enter into contracts and can undertake any kind of business under its own name. Owned by state: State provides help to such corporations by subscribing the capital fully or wholly. It is fully owned by the state. Answerable to legislature: A statutory corporation is answerable either to Parliament Legislature or State Assembly whosoever creates it. Parliament has no right to interfere in the working of statutory corporations. It can only discuss policy matters and overall performance of corporation. Own staffing system: Employees are not government servants, even though government owns and manages a corporation. Employees of various corporations receive balanced or uniform pay and benefits by the government. They are recruited, remunerated and governed as per the rules laid down by the corporation. Financial independence: A statutory corporation enjoys financial autonomy or independence. It is not subject to the budget, accounting and audit controls. After getting the prior permission from the government, it can even borrow money within and outside the country.

Public enterprise, a business organization wholly or partly owned by the state and controlled through a public authority. Some public enterprises are placed under public ownership because, for social reasons, it is thought the service or product should be provided by a state monopoly.

Partnership means that form of organisation in which two or more person willingly join hands and agree to run some lawful business. Company is an artificial person created by law having separate entity with a perpetual succession and common seal.

Because we cannot avoid risk, risk is essential part of the business and more risk so more profit

Companies

Cooperative society

Hawkers are retailers who sell goods on cart or carriage but peddlers carry goods on their heads and move door to door to sell goods

Advantages of Trade Credit:

The advantages of trade credits are:

1. It is easy and automatic source of short-term finance.

2. It reduces the capital requirement.

3. It helps the business focus on core activities.

4. It does not require any negotiation or formal agreement.

Disadvantages of Trade Credit:

Like other sources of finance, trade credit is also associated with certain disadvantages, which are as follows:

i. Trade credit is available only to those companies that have a good track record of repayment in the past.

ii. For a new business, it is very difficult to finance working capital through trade credit.

iii. It is very expensive, if payment is not made on the due date.

This refers to transactions between the parties or persons who are the part of one firm only.It is transactions within the firm that is why it is called intrafirm.Generally, a firm has to deal with its suppliers, cutomers, employees etc. These are called intra B-commerce interactions.

ATMs are electronic machines, which are operated by a customer himself to deposit or to withdraw cash from bank. For using an ATM, a customer has to obtain an ATM card from his bank. The ATM card is a plastic card, which is magnetically coded. It can be easily read by the machine.

To operate an ATM card, the customer has to inset the card in the machine. He has to enter the pass word (number). If the authentication or pass word (number) is correct, the ATM permits a customer to make entries for withdrawal or for deposit. On completion of the transaction, the customer's card is ejected from the ATM.

<font color="#000"><font size="3"><font style="border: 0px none; margin: 0px; padding: 0px;">Advantages of Automated Teller Machines (ATMs)</font></font></font>

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<font color="#000"><font size="3"><font style="border: 0px none; margin: 0px; padding: 0px;">1. ATM provides 24 hours service</font></font></font>

ATMs provide service round the clock. The customer can withdraw cash upto a certain a limit during any time of the day or night.

2. ATM gives convenience to bank's customers

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ATMs provide convenience to the customers. Now-a-days, ATMs are located at convenient places, such as at the air ports, railway stations, etc. and not necessarily at the Bank's premises. It is to be noted that ATMs are installed off-site. (away from bank premises) as well as on site (installed within bank's premises). ATMs provide mobility in banking services for withdrawal.

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<font color="#000"><font size="3"><font style="border: 0px none; margin: 0px; padding: 0px;">3. ATM reduces the workload of bank's staff.</font></font></font>

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ATMs reduce the work pressure on bank's staff and avoids queues in bank premises.

<font color="#000"><font size="3"><font style="border: 0px none; margin: 0px; padding: 0px;">4. ATM provide service without any error</font></font></font>

ATMs provide service without error. The customer can obtain exact amount. There is no human error as far as ATMs are concerned.

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<font color="#000"><font size="3"><font style="border: 0px none; margin: 0px; padding: 0px;">5. ATM is very beneficial for travellers</font></font></font>

ATMs are of great help to travellers. They need not carry large amount of cash with them. They can withdraw cash from any city or state, across the country and even from outside the country with the help of ATM.

<font color="#000"><font size="3"><font style="border: 0px none; margin: 0px; padding: 0px;">6. ATM may give customers new currency notes</font></font></font>

The customer also gets brand new currency notes from ATMs. In other words, customers do not get soiled notes from ATMs.

<font color="#000"><font size="3"><font style="border: 0px none; margin: 0px; padding: 0px;">7. ATM provides privacy in banking transactions</font></font></font>

Most of all, ATMs provide privacy in banking transactions of the customer.

InB2C commerce one party is business and other is customer. On one hand a customer can seek information through internet about products ,place orders , get some items and make payments and on one hand a firm can make a survey any time to know who is buying and can also know the satisfaction level of customers.

Companies outsource primarily to cut costs. But today, it is not only about cutting cost but also about reaping the benefits of strategic outsourcing such as accessing skilled expertise, reducing overhead, flexible staffing, and increasing efficiency, reducing turnaround time and eventually generating more profit.

Refer page no.84of support material class11

A partnership is defined as the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. The law does not require written partnership agreement between the partners to form a partnership.

A bank loan provides medium or long-term finance. The bank sets the fixed period over which the loan is provided (e.g. 3, 5 or 10 years), the rate of interest and the timing and amount of repayments.

Export Oriented Unit

Export oriented units

Export Oriented Units

It refers to the process of retaining a part of the company's net profits for the purpose of reinvesting in the business itself. In other words, the savings generated internally by a company in the form of 'retained earnings' are ploughed back into the company for diversification of its business. It is actually the amount held back by the entrepreneur after paying a reasonable dividend to the shareholders of the company and these undistributed profits are used by the company to meet its present and future financial requirements.

NBFC: Non Banking Financial Corporations.

A Non – Banking Financial Corporation is a company incorporated under the Companies Act 2013 or 1956 which is engaged in the business of Loans and Advances, Acquisition of stocks, equities, debt etc issued by the government or any local authority. The main objective of this type of a company is to accept deposits under any scheme or manner.