Planning is basis of control. Planning and controlling are closely related to each other. After a plan becomes operational, control is necessary to measure progress, to uncover deviations from the targets and to take corrective steps.

Motivation is a force to drive a person to action. Motivation is the ultimate force that causes you to take action. Not only does it initiate and drive goal-oriented behaviour, but it also sustains it.

Fixed capital is also called as blocked capital. Fixed capital includes the assets and capital investments—such as property, plant, and equipment (PP&E)—that are needed to start up and conduct business, even at a minimal stage.

A representative firm works under average conditions. Representative firm must be one which has had a fairly long life, and fair success, which is managed with normal ability, and which has normal access to the economies, external and internal, which belong to that aggregate volume of production; account being taken of the class of goods produced, the conditions of marketing them and the economic environment generally.

Staffing deals with appointing people and placing them at the appropriate jobs. Staffing is the process of hiring eligible candidates in the organization or company for specific positions. In management, the meaning of staffing is an operation of recruiting the employees by evaluating their skills, knowledge and then offering them specific job roles accordingly.

The liability of partners in a firm is Unlimited. Unlimited liability refers to the legal obligations general partners and sole proprietors because they are liable for all business debts if the business can't pay its liabilities.

The Securities and Exchange Board of India (SEBI) is the regulator of the securities and commodity market in India owned by the Government of India. It was established on 12 April 1988 and given Statutory Powers on 30 January 1992 through the SEBI Act, 1992.

Equity shareholders are the real owners of the company. Equity shares represent the ownership of a company and capital raised by the issue of such shares is known as ownership capital or owner's funds. They are the foundation for the creation of a company.

The first organized stock exchange was set up in the year 1887. A number of stock brokers who geared up themselves, set up a voluntary organization in 1887.

A member of a company is Registered shareholder. A shareholder is a person who buys and holds shares in a company having a share capital. They become a member once their name is entered on the register of members.

The difference between the actual price and excess price of a share is called as Premium. The share premium account represents the difference between the par value of the shares issued and the subscription or issue price. Share premium account may also be known as additional paid-in capital and can also be called paid-in capital in excess of par value.

The person who deals in shares, debentures as independent operators are called as jobbers. Jobbers are security merchants dealing in shares, and debentures as independent operators. They buy and sell securities on their own behalf and try to earn through price changes.

Office is to a business what the mainspring is to watch by G R Terry. G.R. Terry defines office layout as “the determination of the space.

Selection of broker is the first procedure for dealing at stock exchange.

The first stock exchange in the world is London stock exchange. London Stock Exchange is one of the world's oldest stock exchanges and can trace its history back to 1571. London Stock Exchange Group was created in October 2007 when London Stock Exchange merged with Milan Stock Exchange, Borsa Italiana.

Dividend declared by a company may be paid in cash only. On the date of payment, the company reverses the dividend payable with a debit entry and credits its cash account for the respective cash outflow. Cash dividends do not affect a company's income statement. However, they shrink a company's shareholders' equity and cash balance by the same amount.

Equity shareholders are the owners of the company. Equity shares represent the ownership of a company and capital raised by the issue of such shares is known as ownership capital or owner's funds.

The preference shares which cannot be converted into equity shares are non-convertible preference shares.

The machines produce multiple copies with help of a stencil. For printed copy, a stencil assemblage is placed in a typewriter.

Fully paid-up shares are called Stock. Fully paid shares are shares issued for which no more money is required to be paid to the company by shareholders on the value of the shares.

Insurance business is based on the theory of probability and law of large numbers. As the number of exposure units, or policyholders, increases, the probability is higher that the actual loss per exposure unit will equal the expected loss per exposure unit.

In order to control private sector insurance companies, the Government of India passed the IRDA Act (Insurance Regulatory and Development Authority Act, 1999) which enabled it to regulate the private sector companies in insurance business. One chairperson and not more than 9 members of whom not more than 5 would be full time members and they are appointed by the government. Those who have experience in life and general insurance, actuarial service, finance, economics etc., are appointed.

Insurance is a social device for eliminating or reducing the loss of society from certain risk. Insurance is a social device for division of financial losses which may fall on an individual or his family on the happening of some unforeseen events. When insured, the loss arising out of the events are shared by all the insured in the form of premium. Therefore the risk is transferred from one individual to a group.

Economic activities are related to Production of wealth. The primary aim of the economic activity is the production of goods and services with a view to make them available to consumer.

Profession involves rendering of personal service. The service is based on professional education, knowledge, training etc. This service is provided for a professional fees charged from the clients.

Unsecured debentures are debentures that are not supported by a collateral security. No specific assets will be set aside against unsecured debentures. It is basically a loan with out any protection. They are backed only by the general credit worthiness of the issuer.

Secured debentures are also called as Mortgaged debentures. These debentures have some asset of the company as collateral security. Since the applicant's investment is protected against the asset of the company, it is called as a secured debenture.

Commercial banks are the most important source of short term capital. The major portion of working capital loans are provided by commercial banks.

IRDA refers to Insurance Regulatory Development Authority. The Insurance Regulatory and Development Authority (IRDA) was constituted to regulate and develop the insurance industry and was incorporated in April 2000.

The principle of prevention is better than cure refers to Avoiding of risk.