Large scale firms enjoy economies of scale. A firm's efficiency is affected by its size. Large firms are often more efficient than small ones because they can gain from economies of scale.

The primary objective of co-operative society is Service Motive. The main motive is to provide service to the members. It works on the principle of self help through mutual coop- eration of members

Industries are engaged in extracting and supplying products from earth ,air and water is known as Extractive Industries. Any processes that involve the extraction of raw materials from the earth to be used by consumers.

Contango charge is paid by bull speculator to bear speculator. When the spot price is higher than the futures price, the market is said to be in backwardation. It is often called 'normal backwardation' as the futures buyer is rewarded for risk he takes off the producer. If the spot price is lower than the futures price, the market is in contango".

As of now there are 23 SEBI approved Stock Exchanges in the country. Stock market is managed and regulated by the Securities and Exchange Board of India (SEBI). Indian stock exchanges may refer to the 18 official stock exchanges located in India, the largest of which are the NSE and BSE.

A firm which outsources its works requires less employees. Outsourcing is the business practice of hiring a party outside a company to perform services and create goods that traditionally were performed in-house by the company's own employees and staff.

Rochdale Society of Equitable Pioneers were the pioneers of the co-operative movement.

The surplus generated by co-operatives is distributed in the form of Dividend and bonus. A dividend is a payment made by a co-operatives to its members, usually as a distribution of profits. society divide bonus among its members in proportion to the volume of business done with the society by them.

In case of private companies, the maximum limit has been increased by the new Companies Act, 2013 from 50 to 200. There is however no maximum limit on the no. of members in a public company.

The moral beliefs held by an individual is known as Values. Moral values are usually communal and shared by the public in general, thus if there is no agreement among community members no moral values will be established.

Taylor was one of the main champions of the piece rate system in the late 19th century. Taylor's Differential Piece-Rate System was introduced by F.W. Taylor, who believed that the workers should be paid on the basis of their degree of efficiencies.

Preference shares are those which carry preferential right in respect of both dividend and repayment of capital. Preference shares, more commonly referred to as preferred stock, are shares of a company's stock with dividends that are paid out to shareholders before common stock dividends are issued.

A project, which may not add to the existing profits, should be financed by preference share capital. Preference shares are shares in a company that are owned by people who have the right to receive part of the company's profits before the holders of ordinary shares are paid. They also have the right to have their capital repaid if the company fails and has to close.

The limit for maximum number of members in a public company is Unlimited.

A private company should have at least 2 members.

A call option is the right (not obligation) to buy stock in the future at a fixed price and a put option is the right (not obligation) to sell

Ethics is derived from the Greek word ethos. The term ethics is derived from the Greek word ethikos which itself is derived from the Greek word ethos, meaning custom or character. In philosophy, ethical behavior is that which is “good.” The field of ethics or moral philosophy involves developing, defending, and recommending concepts of right and wrong behavior.

The interests and rights of customers are given top priority in The Vendor Model. A number of vendors produce and sell products that are designed to support credit-risk measurement and management functions within financial institutions. Such products may comprise risk measurement models, data, or systems developed by external commercial entities.

Formal organization is created for technological purpose. The formal organization is basically goal-oriented entity that exist to accurate the efforts of individuals and it refers to the structure of jobs and positions with clearly defined functions, responsibilities and authorities.

While delegating, a superior delegates only authority. Delegation occurs only when the person delegating the authority himself has that authority i.e. a manager must possess what he wants to delegate.

The management of the company is entrusted to Board of Directors. A “Managing Director” means a Director who, by virtue of Articles of Association of a Company or an agreement with the company or a resolution passed in its general meeting, or by its Board of Directors, is entrusted with substantial powers of management of affairs of the company.

Partnership may come into existence by an express or implied agreement only.

Registration of partnership is optional under Indian partnership act. Registration of partnership firm may be done at any time – before starting a business or anytime during the continuation of partnership.

A partnership firm cannot raise funds through Debentures. A partnership passes through its taxable income (or loss) to its investors, thereby avoiding double taxation and allowing the partnership the option to retain working capital for growth.

The oldest form of business organization is sole proprietorship. When the ownership and management of a business are in control of one individual the form of business is called sole proprietorship.

Shares issued to the existing share holders on a pre-emptive basis is right issue. The pre-emptive right is also called subscription right or subscription privilege.

Overall and strategic planning is done by the Top management. Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes/results, and assess and adjust the organization's direction in response to a changing environment.

Much popular computers are digital. Digital computer is the computer which is electrical as well as digital.

Group Layout is based on the sequence of work. Group layout is a kind of layout where persons doing similar activities or machines doing similar operations are grouped together.

The method of evaluating the efficiency of workers is termed as merit rating. Merit Rating is also known as performance appraisal or performance evaluation. It is a systematic process for measuring the performance of the employees in terms of job requirements.