Business chapter 4 notes

business studies class 11 business services notes

These auxiliaries to trade are also known as business services or facilities. Cash Credit: Under this arrangement, the bank advances cash loan up to a specified limit against current assets and other securities. The insured should be truthful and honest in giving information to the insurance company regarding the subject matter of the insurance.

Credit Card: A. Definition: Auxiliaries to trade are also known as business services.

Business studies class 11 chapter 4 pdf

The insured should be truthful and honest in giving information to the insurance company regarding the subject matter of the insurance. Primary Functions 1. The insured can, in the event of loss, recover the actual amount of loss from the insurer. This is useful to those who prefer a regular income after a certain age. The bank opens an account in the name of the borrower and allows him to withdraw the borrowed money from time to time subject to the sanctioned limit. Account holder also gets interest on his deposit. Interest is charged on the actual amount overdrawn by the customer. Some times instead of selecting one alternative a combination of different alternatives can also be selected. The chief electronic services are the following: 1.

Saving Deposit Account: The aim of a saving account is to mobilize savings of the public. Principles of Insurance: These principles are : 1. V Issuing letter of credit, pay orders, bank draft, credit cards and travelers cheques to customers.

Business chapter 4 notes
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CBSE Class 11 Business Studies Chapter 4