Tag: business
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Study Materials: Elasticity of Demand
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1. Concept of Elasticity of Demand Overview Elasticity of demand is a measure of how sensitive the quantity demanded of a good or service is to a change in one of its determinants, such as price, income, or the price of related goods. It quantifies the percentage change in quantity demanded relative to a percentage…
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LAST MINUTE STUDY NOTES Accountancy and Audit for UPSC EPFO 2025
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🧾 ACCOUNTING & COST ACCOUNTING CONCEPTS 1. Break-even Point (BEP) 2. Depreciation 3. Double Entry System 4. Ledger & Cash Book 5. Final Accounts Include: 6. Accounting Concepts & Principles 7. Reserves & Suspense Account 8. Valuation & Standards 💰 FINANCIAL MANAGEMENT CONCEPTS 9. Financial Management 10. Working Capital 11. Capital Budgeting 12. Leverage 13.…
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120 UPSC-Level MCQs on Accountancy and Audit
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(as per UPSC EPFO Syllabus) Below is a set of 120 multiple-choice questions (MCQs) at UPSC level, based on the UPSC EPFO syllabus for Accountancy and Audit. The questions cover key topics such as accounting principles, financial statements, depreciation, cost accounting, management accounting, auditing principles, types of audits, vouching, verification, and related areas. Each question…
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Capital and Revenue Profit and Losses, and Depreciation: UPSC EPFO APFC
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1. Capital and Revenue Profit Revenue Profit Capital Profit 2. Capital and Revenue Losses Revenue Losses Capital Losses 3. Depreciation: Meaning and Features Meaning of Depreciation Features of Depreciation 4. Methods of Calculating Depreciation As per Accounting Standard-6, the selected method should be used consistently; a change is allowed only in specific circumstances. 1. Straight…
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Partnership: Accounting for UPSC EPFO APFC
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What is a Partnership? Key Features of Partnership Partnership Deed Contents Include: Rules if There is No Partnership Deed If there’s no written deed, default rules are: Interest on Capital Goodwill Methods of Valuing Goodwill Types of Capital Accounts Admission of a Partner Main Points on Admission Retirement and Death of Partner Dissolution of Partnership…
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Study Material: Classification of Capital and Revenue Items in Accounting
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1. Definitions and Key Principles In accounting, transactions are classified as capital or revenue based on their nature, recurrence, and impact on the entity’s financial structure. This classification adheres to principles outlined in accounting standards such as Indian Accounting Standards (Ind AS) or Generally Accepted Accounting Principles (GAAP), which emphasize substance over form. Key Principles…
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Human Resource Development (HRD): Concepts, Goals, Performance Appraisal, Potential Appraisal, Development
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Foundations of Human Resource Development – Concepts and Goals Human Resource Development (HRD) represents a strategic pillar in modern organizations, evolving from mere personnel management to a comprehensive framework aimed at unlocking human potential for sustained growth. As defined by T.V. Rao in his influential work HRD Audit (1999), HRD is “a process by which…
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Leadership Styles, Theories, Successful vs. Effective Leader
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Management Concepts for competitive exams Chapter 1: The Foundations of Leadership – An Overview Leadership, often described as the art of influencing others to achieve a common goal, stands as a cornerstone of organizational success, societal progress, and personal fulfillment. Unlike management, which focuses on processes and efficiency, leadership is inherently relational, visionary, and transformative.…
