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What is mean by Financial Statements? (Definition)

The financial statement is the statement of profit and loss account, balance sheet, etc. Here are the definition and some advantages of it... Financial statements are the means of identifying, measuring, and communicating financial information to the persons or organizations interested in the company. The financial statement involves an income statement or profit and loss account, balance sheet, retained earnings, and balance sheet. It mainly involves profit earned or loss suffered and the overall financial position of the organization for an accounting period. The interested organization involves all investors, lenders, customers, creditors, and employees. Some of the financial Advantages are:  It helps to measure short and long-term financial positions. It forecasts the budget and future line of action. Helps to provide financial useful information for decision making. More efficiency of a business through the balance sheet. Financial statements are also known as Historical d...

What is Store Keeping and Duties of it? (Answer)

Store keeping is the main function of materials control. Here are the main definition and duties or responsibilities of Store keeping... Store keeping is the systematic and modern preservation of materials in proper place which is known as a warehouse. It is in practice that material is an important element of the cost of production and it covers near about more than 50% of the cost of output. The cost of production will be automatically increased if materials are lost or damaged. The mere storing of materials is not sufficient, it is important to store things in the proper storeroom on the basis of combination and value. Duties of Store Keeping are: Receive material formally by making necessary verification materials. Should review things regularly. Thing placement should be maintained both in-store ledger and bin card in an alphabetical way. Things should be kept in a proper place. Should maintain uniformity in production activity. There are three types of storekeeping stores: Ce...

What are Job-order costing and Process Costing? (Definition)

Job-order costing and process costing are the methods of costing. Here are the definition and types of both costing methods... Job-order costing The job-order costing method is used to assign direct costs to the specific order, contract, and also to a specific batch of production. Each job or order is specific and absorbs different operations which need costs both direct and overheads. Under this method, each job should be separated to ascertain the cost of each job. The job costing method is used in many specific works like printing, engineering, construction, etc. Some important types of Job- order costing are: Batch costing Contract costing Multiple costing Process costing Process costing is used in industries where a continuous process of production is carried out and the product is uniform. In other words, process costing is used in industries where certain steps are to be completed to convert raw materials into finished products. In this processing method, the cost of each proces...

What is mean by GDP and GNP? (Definition)

Gross Domestic Product (GDP) and Gross National Product (GNP) are different various concepts of National Income. Here is the definition of both... Gross Domestic Product (GDP) Gross Domestic Product (GDP) is the market value of all final goods and services produced  by all factors of production whether domestic or foreign within the geographical territory of a country, in a year. GDP does not include Net factor income from abroad NFIA. It has quite a narrow concept. GDP is focused on output rather than who produced i. It means GDP measures all domestics’ production regardless of the nationality of factors of production. It does not include NFIA so, it is unaffected by NFIA. Gross National Product (GNP) Gross National Product (GNP) is the market value of all the final goods and services produced by all domestic factors of production within or out of the geographical territory of a nation, in a year. GNP includes NFIA. It measures the overall economic strength of the domestic...

What is Data? Explain two Types of Data. (Definition)

Data are the numerical facts, which originate from the operation of counting or enumerating. For any Statistical investigation, the first stage is data collection and the basic problem is to collect data relating to the subject matter. The person who conducts the statistical investigation is known as an investigator. The persons from whom the information or data are collected are known as the informants. The process of enumerating or counting the items in a systematic and scientific way is known as a collection of data. Data can be quantitative or qualitative. The data which can be counted in a natural way be quantitative data. The data which represents the quality of an individual is known as qualitative data. Types of Data On the basis of sources of data, there are two types of Data: 1. Primary data 2. Secondary data 1. Primary data The data collected for the first time by the investigator or an agent of the investigator is called primary data. The primary data are...

What are thing we should know before building our House?

Building our house is the best thing for many of us. We should build our house like a dream house. It is more challenging nowadays. We should consider many things before building the house. Make your house in your own land. = We should make our house in our own land. We should never use other lands even a little bit. It may cause many legal problems. My friend faces the same problem recently and he was sued. So, you should check the map of the land properly.  Builder rating and review = Builder make your house. Before hiring the builder you should check his/her reputation and ratings through means. You should really consider it. Many Builders make house cheaply and bad. You can also get a scam if you don't look properly. Use best quality Cement or Woods = Quality of the cement and woods is also the essential thing you should consider. Use those Cement which is more popular and used by peoples. You can also search it about on google. Good quality cement mean...

Aerobic and Anaerobic reaction Definition and Differences

What is Aerobic and Anaerobic reaction. Differences between Aerobic and Anaerobic reaction. These two reactions are different from each other. Aerobic Reaction Aerobic decomposition caused by both aerobic and facultative bacteria operating aerobically in presence of air or Oxygen which is available in wastewater in dissolved form is called Aerobic reactions. during this process, organic matter is broken up into non-objectionable and products like CO2, H2O, SO4, NO2, etc. This is the combination of work of aerobic bacteria and Oxygen. Example of aerobic reaction in Sewage treatment is oxidation pond trickling filter. Anaerobic Reaction It is caused by anaerobic bacteria as well as facultative bacteria operating anaerobically in the absence of air or Oxygen. The end products of anaerobic decomposition include black residue CH4, NH3, N2, etc. The anaerobic reaction in sewage treatment is taken in the septic tank, sludge, digestion tank. The end product of an anaerobic is like...

Simple Algebra important formulas for calculation

Algebra is a part of mathematics which deals with symbols and letters in the equation and by solving them. Here are some of algebra formulas. (a + b)² = a² + 2ab + b² (a - b)² = a² -2ab + b² a² - b² = (a + b) (a - b) (a + b)³ = a³ + 3a²b + 3ab² + b³ or (a + b)³ + 3ab (a+b) (a - b)³ = a³ + 3a²b + 3ab² -b³ or (a + b)³ - 3ab (a + b) a³ + b³ = (a + b) (a² + ab + b²) or (a + b)³ - 3ab(a + b) a³ - b³ = (a + b) (a² -ab + b²) or (a - b)³- 3ab (a - b) (x + a) (x+b) = x² + (a + b)x + ab (x - a) (x - b) = x² + (a +b )x + ab (x -a) (x + b) = x² - (a + b)x + ab (a + b + c)² = a² + b² + c² + 2ab + 2bc + 2ac (a + b + c)³ = a³ + b³ +c³ + 3(a + b) + (b + c) + (c + a) Thus, these are some of the Formulas of Algebra which is mainly used in Equation questions.

What are the three types of Bank account with Definition?

The bank plays an important role in the business organization and individual ones. There are mainly three types of the bank account. They are as follows: 1. Saving Account Saving bank account is useful in saving a generation, especially for individuals and households It carries a moderate rate of interest on deposit interest is allowed on the lowest credit balance kept in a particular Period. It is not useful for a businessman. For opening the deposit for saving account is provides with a passbook. At the time of withdrawn of money, the depositor is required to present his passbook together with withdrawn form. Nowadays, cheque facility is allowed if a certain minimum balance is maintained by the depositor. It has limited withdrawal facilities. 2. Fixed Deposit Account In this account, Money is deposited only once and can be withdrawn only after the expiry of the agreed maturity period. The rate of interest is the highest in such account. The fixed deposit is not suitable fo...

Who was Prithvi Narayan Shah?

Prithvi Narayan Shah who is also the builder of modern Nepal and one of the greatest Kings Nepal has produced. He was the ruler of Gorkha, a small state in Western Nepal. When he ascended the throne of Gorkha. Nepal was divided into a number of petty states. Within a span of thirty years, Prithvi Narayan Shah conquered the various states and unified Nepal. Prithvi Narayan Shah made Kathmandu the capital of his kingdom and introduced many reforms. his reforms were based on those of Ram Shah, Jayasthiti Malla, and Mahindra Malla. He liked the policies of these kings. Prithvi Narayan Shah's policies can be known from his book, Dibya Upadesh. He was a staunch nationalist. He expelled the Christian missionaries from his kingdom. He thought they were spies of foreign countries. He encouraged the use of handmade cloth. He saw that everybody got justice. He punished the corrupt officials. Prithvi Narayan Shah wanted to keep his subjects happy. He thought the people were the wealth o...

What is LAN and WAN Networks? - Definition

LAN and WAN are the two types of computer network on the basis of geographical area coverage. Both are different from each other. Here is the definition of both networks. LAN (Local Area Network) The interconnection within room or building is known as LAN (Local Area Network). The data transmission rate is faster than WAN. Most of the LAN is built with relatively cheap hard drives like Ethernet cables, network adapters, and hubs. LAN has higher security to resources of the network. It is more easy to manage and operate. It can operate at a speed of 100mbps. There is lack of backup compares to WAN in LAN. It is only limited for short distance. The network structures of LAN is in Homogenous form. WAN (Wide Area Networking) The interconnection within a country or between neighbor countries and within a continent is known as WAN (Wide Area Networking). The data transmission rate is slower than the LAN. WAN use much expensive software than LAN. It helps to send data/information...

How to insert and change the header or footer in MS word?

You can insert predesigned headers and footers in your document and easily change the header and footer designs. Here are some of the steps to do it. Insert the same header and footer throughout a document 1. On the Insert tab, in the Header and Footer group, click Header or footer. 2. Click the header or footer design that you want. Remove the header or footer from the first page 1. On the Page Layout tab, click the Page Setup Dialog Box Launcher, and then click the layout tab. 2. Select the different first-page checkbox under Headers and Footers. "Header and footers are removed from the first page of the document." Make the headers or footers different for odd and even pages 1. On the Page Layout tab, the Page Setup dialog Box Launcher, and then click the Layout tab. 2. Select different odd and even checkbox. "Now you can insert the header or footer for even pages and the header or footer for odd pages on an odd page." Remove the header ...

How to insert Clip art in Ms PowerPoint?

Clipart is a sticker which is used in powerpoint to make in a document and make it more attractive. It shows the document well. Steps 1. Click the Insert Tab. 2. Click the Clip Art button. 3. Search for the clip art using the search Clip Art dialog box. 4. Select the graphic you would like to add. 5. To move the graphic, click it and drag it to where you want it. More:  WhatHowANS

What is mean by Patriotism? - Definition

Mother and Motherland are dearer than heaven. The Love of the country is incomparable. We love our motherland as dearly as our mother. This true love is called Patriotism. It is a great virtue. The patriotic people can't bear any hindrance of other countries. They strongly raise their voice against such activities. They are ready to sacrifice their lives and become martyrs for the nation. But nowadays, it is hard to find true patriots. Most people especially the politicians are selfish and deceptive. They give tall promises to the people. But as soon as they get the power, they forget their promise. They do everything just for them their family. Therefore, they are the enemies of the country. They are hated by all while the true patriots are widely praised and respected. All the countrymen worship them. They become immortal in all the generations. Patriotism is a great virtue. However, we can't ignore its dark sides. Extreme patriotism is really bad, which promotes indiv...

What do you mean by Bounded media and Unbounded media? (Definition)

Bounded and unbounded media are the transmission media which is used to transfer data from one destination to another through its means. Bounded Media The transmission media which uses to transmit the signal/data/information from one to another is known as bounded media. The data transmit rate is faster than the unbounded media. Bounded media is used to transmit data/information in short distance. It uses twisted pair cable, coaxial cable, and fiber optic cable as transmission media. All the computer and devices are physically connected in bounded media. Unbounded media The transmission media which uses wireless to transmit data/information/signal from one to another is known as unbounded media. The data transmit rate is slower than the bounded media. It is used for transmitting the data/signal/information for long-distance. It uses radio wave/microwave/communication satellite as transmission media. All the computer and devices aren't physically connected. Bounded m...