You can download Free Chapter Notes (Part-1) - Business Services, BST, Class 11 | EduRev Notes pdf from EduRev by The revision notes covers all important formulas and concepts given in the chapter. You can see some Chapter Notes (Part-1) - Business Services, BST, Class 11 | EduRev Notes sample questions with examples at the bottom of this page. In its minimum capital required is five lakhs. Types of partners, 3) Hindu Undivided Family Business: Concept, 4) Cooperative Societies-Concept, merits, and limitations, 5) Company – Concept, merits and limitations; Types: Private, Public and One Person Company – Concept, 6) Formation of company – stages, important documents to be used in formation of a company, 1) Public sector and private sector enterprises – Concept, 2) Forms of public sector enterprises: Departmental Undertakings, Statutory Corporations and Government Company, 1) Business services – meaning and types. 5. Life Insurance: It is a contract under which the insurer, in consideration of a premium, undertakes to pay a fixed sum of money on the death of the insured or on the expiry of a specified period of time, which ever is earlier. Auxiliaries to trade are also known as business services. You can also find Chapter Notes (Part-1) - Business Services, BST, Class 11 | EduRev Notes ppt and other Commerce slides as well. On November 1, 1981, Scandinavian Airlines System introduced EuroClass with a separate cabin, dedicated check-in counters and lounges for full-fare passengers. CBSE Revision notes for Class 11 Business Studies PDF, CBSE Revision notes Class 11 Business Studies – CBSE, CBSE Revisions notes and Key Points Class 11 Business Studies, Summary of the NCERT books all chapters in Business Studies class 11, Short notes for CBSE class 11th Business Studies, Key notes and chapter summary of Business Studies class 11. It is SUITABLE IN AREAS OF PERSONALISED SERVICE like beauty parlour, hair cutting saloons & small scale activities like retail shops. 3. I dont like business studies but what can i do, its one of the imp subject in commerce. 5. Co-operative Housing Society – The main aim is to provide houses to people with limited means/income at reasonable price. First and business class flights travel guide from Wikivoyage, Learn how and when to remove this template message, "On some airlines, business class goes first", "Why airlines are wooing the business high-fliers",, "El Al Sees Financial Drain Resulting From Fare Cuts – El Al Expecting Reduced Fares To Cause Severe Financial Drain – Article –", "Pan Am Profit Hit High in 2nd Quarter; Revenue Rose 16%", "air france | 1983 | 1806 | Flight Archive", "Losing economy seats to launch club class 'flying bed' revolution may not add up", "Airlines in the hot seat over Virgin's Upper Class patents", "US Airways Business Class Around The World", "Business Class Seats A Weighty Issue On Ultra Long Range Flights", Qantas History including business class history,, Convention on the Marking of Plastic Explosives,, Articles needing additional references from November 2010, All articles needing additional references, Creative Commons Attribution-ShareAlike License, "Business Class" (international; formerly "Club ANA"), "Domestic First Class" and "Flagship Business", "Club Suite", "Club World", "Club World London City" and "Club Europe", "Business Class" (formerly "Marco Polo Business Class" in the 1980s and 90s), "Pearl Business Class" and "Business Studio", "Business Class" (formerly "Golden Club Class"), "Premium Economy" (formerly "Bounty Class"), "Business Class" (formerly "Raffles Class"), "Business Class" (formerly "Gold Class" ). 10. /F2 69 0 R Decision making & control – Every partner has a right to participate in management & decision making of the organisations. Easy to start and close: It can be easily started and closed without any legal formalities. perfect preparation. 2. In which type of insurance, insurable interest must exist only at the time of insurance? E-BANKING: E-banking means banking transactions carried out with the help of computer systems (i.e., banking over the internet). After one year of divorce, her husband died in a car accident. It can own property, enter into contracts, can file suits in its own name. Liability Clauses – This clause limits the liability of the members to the amount unpaid on the shares held by them. Larger financial resources – There are more funds as capital is contributed by no. Information technology is an important business service that supports many other business services such as procurement, shipping and finance.A good business service aligns IT assets with the needs of a company's employees and customers and support business … Business services are services that are primarily sold to organizations. 4. endobj 1. BMI on many routes) and offer only one class of service. /F1 66 0 R Two or more persons: There must be at least two persons to form a partnership. It is owned by the members of undivided joint Hindu family and managed by the eldest member of the family known as KARTA. Government Support: Govt. Warehousing: It refers to that activity under which goods are kept safely and systematically at a particular place. A public company having a share capital may sometimes decide not to raise funds from the public because it may be confident of obtaining the required capital privately. 6. CBSE guide notes are the comprehensive notes which covers the latest syllabus of CBSE and NCERT. Appointment of bankers, brokers, underwriters: Banker of the company receive the application money. Nominal Partner – Such a partner only gives his name and goodwill to the firm. 1) History of Trade and Commerce in India: Indigenous Banking System, Rise of Intermediaries, Transport, Trading Communities: Merchant Corporations, Major Trade Centres, Major Imports and Exports, Position of Indian Sub-Continent in the World Economy. endobj Meaning: Partnership is a voluntary association of two or more persons who agree to carry on some business jointly and share its profits and losses. 4. Sometimes when some members become rigid, the result is conflict. Situation clauses – This clause contains the name of the state in which the registered office of the company is to be situated. This may cause conflict among the members and may lead to break down of the family limit. Minor members – A minor can also become full fledged member of Family business. Service sector include commercial firms engaged in banking, communication, transportation, insurance and warehousing. The Registrar issues a Certificate of Incorporation. • The firm cannot file a case against its partner. Memorandum of Association – It is the principal document of a company. CBSE Class 11 Business Studies Revision Notes CHAPTER : 2 Forms of Business Organisation class 11 Notes Business Studies. /Type /Pages << Though he invested money, shares profit & Loss and unlimited liability. Ex- Reliance Industries Ltd., Wipro Ltd. , Raymond’s Ltd. Legal formalities – The procedure of formation of Co. is very long, time consuming, expensive and requires lot of legal formalities to be fulfilled. (ii) Articles of Association. payable on the application and allotment of each class of share. Oligarchic management – Co. is said to be democratically managed but actually managed by few people i.e. Social utility: It promotes personal liberty, social justice and mutual cooperation. Upon seating in their seats, business-class passengers are presented with a choice of champagne, orange juice, or water (called pre-flight service), with a 3-5 course meal (typically including a salad, soup, entree (typically up to 3 choices), and a choice of dessert) to follow during the flight. Bold text indicates airlines for which business class is the highest class of service offered. Registration: The Registrar verifies all the document submitted. SEBI Approval: SEBI regulates the capital market of India. Important documents used in the formation of company: 1. A minor is a person who has not attained the age of 18 years.