Articles
NCERT Chapter Summary: Framing the Constitution
The Indian Constitution, which came into effect on 26 January 1950, has the dubious distinction of being the longest in the world. But its length and complexity are perhaps understandable when one considers the country’s size and diversity. At Independence, India was not merely large and diverse, but also deeply divided.
Read more …NCERT Chapter Summary: Mahatma Gandhi and the Nationalist Movement
In the history of nationalism a single individual is often identified with the making of a nation. Thus, for example, we associate Garibaldi with the making of Italy, George Washington with the American War of Independence, and Ho Chi Minh with the struggle to free Vietnam from colonial rule. In the same manner, Mahatma Gandhi has been regarded as the ‘Father’ of the Indian nation.
Read more …NCERT Chapter Summary: Rebels and the Raj
Late in the afternoon of 10 May 1857, the sepoys in the cantonment of Meerut broke out in mutiny. It began in the lines of the native infantry, spread very swiftly to the cavalry and then to the city. The ordinary people of the town and surrounding villages joined the sepoys. The sepoys captured the bell of arms where the arms and ammunition were kept and proceeded to attack white people, and to ransack and burn their bungalows and property.
Read more …NCERT Chapter Summary: Colonialism and the Countryside
In this chapter you will see what colonial rule meant to those who lived in the countryside. You will meet the zamindars of Bengal, travel to the Rajmahal hills where the Paharias and the Santhals lived, and then move west to the Deccan.
Read more …NCERT Chapter Summary: Peasants, Zamindars and the State
During the sixteenth and seventeenth centuries about 85 per cent of the population of India lived in its villages. Both peasants and landed elites were involved in agricultural production and claimed rights to a share of the produce. This created relationships of cooperation, competition and conflict among them. The sum of these agrarian relationships made up rural society.
Read more …NCERT Chapter Summary: An Imperial Capital - Vijayanagara
Vijayanagara or "city of victory" was the name of both a city and an empire. The empire was founded in the fourteenth century. In its heyday it stretched from the river Krishna in the north to the extreme south of the peninsula.
Read more …NCERT Chapter Summary: Bhakti - Sufi Traditions
By the mid-first millennium CE the landscape of the subcontinent was dotted with a variety of religious structures - stupas, monasteries, temples.
Read more …NCERT Chapter Summary: Through the Eyes of Travellers
Women and men have travelled in search of work, to escape from natural disasters, as traders, merchants, soldiers, priests, pilgrims, or driven by a sense of adventure. Those who visit or come to stay in a new land invariably encounter a world that is different: in terms of the landscape or physical environment as well as customs, languages, beliefs and practices of people.
Read more …NCERT Chapter Summary: Thinkers, Beliefs and Buildings
In this chapter we shall go on a long journey across a thousand years to read about philosophers and their attempts to understand the world they inhabited. We will also see how their ideas were compiled as oral and written texts as well as expressed in architecture and sculpture.
Read more …NCERT Chapter Summary: Paths to Modernisation
East Asia at the beginning of the nineteenth century was dominated by China. The Qing dynasty, heir to a long tradition, seemed secure in its power, while Japan, a small island country, seemed to be locked in isolation. Yet, within a few decades China was thrown into turmoil unable to face the colonial challenge.
Read more …NCERT Chapter Summary: Displacing Indigenous Peoples
This chapter recounts some aspects of the histories of the native peoples of America and Australia. Theme 8 described the history of the Spanish and Portuguese colonisation of South America.
Read more …NCERT Chapter Summary: Changing Cultural Traditions
From the fourteenth to the end of the seventeenth century, towns were growing in many countries of Europe. A distinct 'urban culture' also developed. Townspeople began to think of themselves as more 'civilised' than rural people. Towns - particularly Florence, Venice and Rome - became centres of art and learning.
Read more …NCERT Chapter Summary: The Three Orders
We have seen how, by the ninth century, large parts of Asia and America witnessed the growth and expansion of great empires - some nomadic, some based on well-developed cities and trading networks that centred on them.
Read more …NCERT Chapter Summary: Nomadic Empires
The term 'nomadic empires' can appear contradictory: nomads are arguably quintessential wanderers, organised in family assemblies with a relatively undifferentiated economic life and rudimentary systems of political organisation.
Read more …NCERT Chapter Summary: An Empire Across Three Continents
Over the two millennia that followed the establishment of empires in Mesopotamia, various attempts at empire-building took place across the region and in the area to the west and east of it.
Read more …NCERT Chapter Summary: Writing and City Life
City life began in Mesopotamia, the land between the Euphrates and the Tigris rivers that is now part of the Republic of Iraq. Mesopotamian civilisation is known for its prosperity, city life, its voluminous and rich literature and its mathematics and astronomy.
Read more …NCERT Chapter Summary: Principles of Management
Principles of management are general guidelines, which can be used for conduct in work places under certain situations. They help managers to take and implement decisions.
Read more …NCERT Chapter Summary: Nature and Significance of Management
Management is the process of planning, organising, staffing, directing and controlling the enterprise resources efficiently and effectively for achieving the goals of the organisation. Effectiveness in management is concerned with doing the right task, completing activities and achieving goals. Efficiency means doing the task correctly and with minimum cost.
Read more …NCERT Chapter Summary: Consumer Protection
From the point of consumers, consumer protection is important because consumers are ignorant, unorganised and exploited by sellers.
Read more …NCERT Chapter Summary: Marketing
In the traditional sense, the term ‘market’ refers to the place where buyers and sellers gather to enter into transactions involving the exchange of goods and services. But in modern marketing sense, it refers to a set of actual and potential buyers of a product or service.
Read more …NCERT Chapter Summary: Financial Markets
Financial Market is a market for creation and exchange of financial assets. It helps in mobilisation and channelising the savings into most productive uses. Financial markets also helps in price discovery and provide liquidity to financial assets.
Read more …NCERT Chapter Summary: Financial Management
Business finance: The money required for carrying out business activities is called business finance. Almost all business activities require some finance. Finance is needed to establish a business, to run it, to modernise it, to expand, and diversify it.
Read more …NCERT Chapter Summary: Controlling
Controlling is the process of ensuring that actual activities conform to planned activities.
Read more …NCERT Chapter Summary: Directing
Directing is a complex managerial function consisting of all the activities that are designed to encourage subordinates to work effectively. It includes supervision, motivation, communication and leading. The principles which guide effective directing may be classified as principles related to the purpose of directing and principles related to direction process.
Read more …NCERT Chapter Summary: Staffing
Staffing has been described as the managerial function of filling and keeping filled, the positions in an organisation structure. This is achieved by, first of all, identifying requirement of work force, followed by recruitment, selection, placement, promotion, appraisal and development of personnel, to fill the roles designed into the organisation structure.
Read more …NCERT Chapter Summary: Organising
Organising is the process of defining and grouping activities and establishing authority relationships among them.
Read more …NCERT Chapter Summary: Business, Trade and Commerce
In every society, people undertake various activities to satisfy their needs. These activities may be broadly classified into two groups - economic and non-economic.
Read more …NCERT Chapter Summary: International Business
International business refers to business activities that take place across national frontiers. Though many people use the terms international business and international trade synonymously, the former is a much broader term.
Read more …NCERT Chapter Summary: Internal Trade
Trade refers to buying and selling of goods and services with the objective of earning profit on the basis of geographical location of buyers and sellers. It can be classified into two categories (i) internal trade; and (ii) external trade.
Read more …NCERT Chapter Summary: Small Business
Role of small business in India: Small Scale Industries play a very important role in the socio-economic development of the country. These industries account for 95 per cent of industrial units, contributing up to 40 per cent of the gross industrial value added and 45 per cent of the total exports.
Read more …NCERT Chapter Summary: Sources of Business Finance
Meaning and significance of business finance: Finance required by business to establish and run its operations is known as business finance. No business can function without adequate amount of funds for undertaking various activities.
Read more …NCERT Chapter Summary: Social Responsibilities of Business and Business Ethics
Concept of social responsibility: Social responsibility of business refers to its obligation to take those decisions and perform those actions which are desirable in terms of the objectives and values of our society.
Read more …NCERT Chapter Summary: Business Services
Services are those separately identifiable, essentially intangible activities that provide satisfaction of wants, and are not necessarily linked to the sale of a product or another service. There are five basic features of services.
Read more …NCERT Chapter Summary: Private, Public and Global Enterprises
There are all kinds of business organisations - small or large, industrial or trading, privately owned or government owned existing in our country. These organisations affect our daily economic life and therefore, become part of the Indian economy.
Read more …NCERT Chapter Summary: Accounting for Partnership - Basic Concepts
Definition of partnership and its essential features: Partnership is defined as Relation between persons who have agreed to share the profits of a business carried on by all or any one of them acting for all.
Read more …NCERT Chapter Summary: Cash Flow Statement
Cash Flow Statement: The Cash Flow Statement helps in ascertaining the liquidity of an enterprise. Cash Flow Statement is to be prepared and reported by Indian companies according to AS-3 issued by The Institute of Chartered Accountants of India. The cash flows are categorised into flows from operating, investing and financing activities.
Read more …NCERT Chapter Summary: Accounting Ratios
Ratio Analysis: An important tool of financial statement analysis is ratio analysis. Accounting ratios represent relationship between two accounting numbers.
Read more …NCERT Chapter Summary: Analysis of Financial Statements
Major Parts of an Annual Report: An annual report contains basic financial statements - Balance Sheet, Statement of Profit and Loss and Cash Flow Statement. It also carries management’s discussion of corporate performance of the year under review for futuristic prospects.
Read more …NCERT Chapter Summary: Financial Statements of a Company
Financial Statements: Financial statements are the end products of accounting process, which reveal the financial results of a specified period and financial position as on a particular date. Financial Statements are prepared and published by corporate undertakings for the benefit of various stakeholders. These statements include Statement of profit and loss and balance sheet.
Read more …NCERT Chapter Summary: Issue and Redemption of Debentures
Debenture: Debenture is the acknowledgements of debt. It is a loan capital raised by the company from general public. A person or holder of such a written acknowledgement is called debenture holder.
Read more …NCERT Chapter Summary: Accounting for Share Capital
Company: An organisation consisting of individuals called shareholders by virtue of their holding the shares of a company, who can act as legal person as regards its business through board of directors.
Read more …NCERT Chapter Summary: Dissolution of Partnership Firm
Dissolution of Partnership Firm: The dissolution of a firm implies the discontinuance of partnership business and separation of economic relations between the partners.
Read more …NCERT Chapter Summary: Retirement / Death of a Partner
New Profit Sharing Ratio: New profit sharing ratio is the ratio in which the remaining partner will share future profits after the retirement or death of any partner.
Read more …NCERT Chapter Summary: Financial Statements - II
Need for adjustments: For the preparation of financial statements, it is necessary that all the adjustments arising out of the accrual basis of accounting are made at the end of the accounting period. Another important consideration in the preparation of final accounts with adjustments, is the distinction between capital and revenue items. Entries which are recorded to give effect to these adjustments are known as adjusting entries.
Read more …NCERT Chapter Summary: Financial Statements - I
Meaning, usefulness and types of financial statements: After the agreement of the trial balance, a business enterprise proceeds to prepare financial statements. Financial statements are the statements, which present periodic reports on the process of business enterprises and the results achieved during a given period.
Read more …NCERT Chapter Summary: Depreciation, Provisions and Reserves
Meaning of depreciation: Depreciation is decline in the value of a tangible fixed asset. In accounting, depreciation is the process of allocating depreciable cost over useful life of a fixed asset.
Read more …NCERT Chapter Summary: Trial Balance and Rectification of Errors
Meaning of trial balance: A statement showing the abstract of the balance (debit/credit) of various accounts in the ledger.
Read more …NCERT Chapter Summary: Bank Reconciliation Statement
Bank Reconciliation Statement: A statement prepared to reconcile the bank balance as per cash book with the balance as per passbook or bank statement, by showing the items of difference between the two accounts.
Read more …NCERT Chapter Summary: Recording of Transactions
Meaning of source documents: Various business documents such as invoice, bills, cash memos, vouchers, which form the basis and evidence of a business transaction recorded in the books of account, are called source documents.
Read more …NCERT Chapter Summary: Theory Base of Accounting
Generally Accepted Accounting Principles (GAAP): Generally Accepted Accounting principles refer to the rules or guidelines adopted for recording and reporting of business transactions in order to bring uniformity in the preparation and presentation of financial statements. These principles are also referred to as concepts and conventions.
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