Explore topic-wise InterviewSolutions in Current Affairs.

• Gyan Sagar Loan scheme provided a loan of Rs. 15.77 Lakh.
• Swarojgar focused card scheme, provided Loan of Rs. 15.64 Lakh.

There are many agreements, oral or written, during the formation of a partnership firm. A partnership deed is a written agreement which specifies the terms and conditions that govern the partnership. It includes the name of the firm, nature and location of the business, duration of business, the investment made by the partners, distribution of profit and loss, the work area of every partner, etc., and it also includes the signature of every partner.

Loan amounting to Rs. 25638.86 Lakh.

Before independence, our country was suffering from irregularity in income and employment at various levels, less economic growth and unavailability of skilled labour and various other economic problems.

The activities and schemes carried out by Rajasthan State Cooperative Bank Limited in the year 2014 – 2015:

• It provided loans worth 1683054 crores to co-operative farmer credit holders. 
• Provided loans worth Rs. 15.77 lakh to Gyan Sagar scheme. 
• Provided loans worth Rs. 1564.04 lakh to self-employment credit card scheme. 
•  Personal Accident Insurance scheme – Providing Insurance cover of Rs. 3 lakhs against an annual premium of 43 only. 
• Self-help group loan facility – Provided loans worth 3410 lacs to 3600 self – help groups

The four features of limited liability partnership:

1. It is a corporate body having a seperate legal entity. 

2. The provisions of the Indian Partnership Act, 1932 does not apply on LLP, but the provisions of the Companys Act can be applied. 

3. The liability of each partner will be limited to an agreed ratio. 

4. The mutual rights and duties of partners and their obligations towards the firm are determined by the provisions of this act.

The partnership is an economic movement due to which many people get employed. Partnership firms promote savings among villagers, and with that saving, they can make investments in the activities of production which again increases employment. People with limited means can also join hands and start a new business and employ themselves.

• It is made through an agreement. 
• It should have a minimum of 2 persons.

The basis of membership is birth in HUF and three successive generations can be members in the business. All members have equal ownership right over the ancestral property, but the business is controlled by the head of the family, who is the eldest member. called ‘Karta’. Their liabilities are unlimited. That means their risk is well – defined and precise.

The partnership is based on a contract where 2 or more than 2 persons come together to form a business, while according to Indian rules, a minor cannot enter into a contract. But, he can have access to a part of the profit earned with the consent of all the partners. In this situation, he would be subjected to the applied benefits only, also he cannot be an active partner in day to day activities. When he becomes a major, he needs to inform the other partners within 6 months whether he wants to continue being a partner or not. If he fails to provide a notice then he becomes a partner automatically and his liability gets unlimited.

(a)  Unlimited

The first PM of India described PSUs as modern temples of India which is quite relevant. In the first five year plan, 5 central PSEs were established with an investment of Rs. 29 crores and since then PSUs have been playing a strategic role in the socio-economic development of India. Today, there are more than 250 CPSEs. Their total business is 25% of GDP and their share in export income is 8%. A total of 13.9 lakh persons are working in these PSUs.

Sole trade is that form of business which is established by a single person. He is the owner, manager and controller of the business.

• Unlimited liability 
• Limited credit.

• Quick decision making. 
• Secrecy.

Every businessman runs his business with a profit motive. Profit gives the motivation to succeed. The profit helps a business to maintain its stability. The profit helps in its operation. growth and expansion. A business can only be evaluated by how much profit it has earned. According to Adam Smith – “Profit is that magic which can turn selfishness of man into useful services. Therefore, it is clear that if the business won’t earn profit then people won’t be able to get goods and services.”

Profit is counted foremost because of these reasons: 

1. Profit is motivation – 

Every person enters into business with profit motive only. They fulfil their needs through profit only. Profit is that element which motivates the businessman for any activity. If the business has low profits, then he won’t take interest in the business and the result would be the problems that would be faced by the businessman. 

2. Profit is Return of Services – 

Like other people, the businessman also works hard to run his/her business. Therefore, the profit is just the return of his/her hard work. 

3. Profit is the Base of Exchange:

The exchange of goods and services is done for mutual profit only. Therefore, the give and take in business include profit only. If there won’t be any profit than the exchange would stop and some people would have unnecessary goods, while some others might not even have the necessary goods. 

4. Means of supply of Individual necessities – 

Everybody has to fulfil his/her family needs. These needs can only be fulfilled with the profit earned. The existence of needs proves the existence of profit. 

5. Measurement of Business efficiency – 

The skill of any business and businessmen can be measured through profit only. If it earns a profit, then it is assumed that the business is running properly and resources are being utilized efficiently.

In a nutshell, profit is considered to be the main source of any business. Loop has stated profit as the main part of business, but some people are against this statement. According to them, profit earning is not the only motive of any business. Rather, it is only a part of the activity of the business.

Partnership: 

A partnership was born to eliminate the defects/disadvantages of a sole trader. It works with huge investment. 

(1) Haney has given a suitable definition of partnership in simple words. According to him, “Partnership is the relationship between persons who agree to carry on a business in common, with a view to private gain.” 

(2) According to the American Partnership Act – 

“Partnership is the association of two or more persons who carry on a business for profits as co-owners.” 

(3) Indian Partnership Act, 1933, Section 4 – 

“The relation between persons who have agreed to share profits of a business carried on by all or any of them acting for all.” In the end, we can say that partnership is an association of two or more persons, to carry on a business.

The partners collectively provide capital, manage the business and equally share the profit or loss of the business. The persons who enter into partnership for mutual sharing of profits are individually called partners and collectively called partnership firm and the name under which they run their business is known as ‘Name of the Firm.’ Features of Partnership.

Following are the features of partnership: 

1. Formation – 

The partnership is formed under Indian Partnership Act of 1932, with a lawful contractual agreement. It includes the relation between the partners, their share of the ratio of profit and loss, etc. The partnership is formed for attaining profit and lawful activities, not for charitable service or unlawful business activities. 

2. Unlimited liability – 

The partners in this form of business are liable to repay the debts even from their personal resources in case the firm is not efficient to meet its debts, which creates a risk to their personal property. 

3. Decision Making and Control – 

The activities of the partnership firm are controlled and managed through the joint effort of all partners. Decisions are generally taken by mutual consent. 

4. Continuity – 

These is a lack of continuity in a partnership firm because if a partner dies, becomes lunatic, retires, then partnership dissolves. After that, the remaining partners can form a new partnership firm. 

5. Number of Members – 

Partnership should at least have 2 members, for Banking, the maximum partners should be 10 and for other businesses, it should be 20. 

6. Mutual agency – 

Partnership can be run either by all its partners or by one single partner who can run all the business. Therefore, every partner is an agent as well as the owner.

Due to various benefits, sole trade is the foremost outlay of business, because, in sole trading, the business is run by a single individual who takes care of his business, establishes its secrecy and his/her quick decision-making capacity can help in increasing the proficiency of the business. It is only possible when the trader is very skilled and the size of the business is small. There are very skilled persons present nowadays.

That is why the business of big level having more challenge is not possible to be run by a single individual. Therefore, the quote by Prof. William K. Was that “Sole trading is the most proficient business if the trader can take control of everything all by himself” is true till certain limits only. For the lower-level business, that requires less investment and that can be run by a lesser skilled person, this statement is also true, but this statement also has some limitations for that it cannot be a choice of formation for every type of business.

The limitations are: 

1. Small Size – 

The sole trading is suitable only when the size of the business is small. There is a limit of every person to do work. A single individual alone cannot handle a large scale business. Therefore, this business should only be adopted when the size of the business is small. 

2. Limited Capital – 

There is a limit of investment and loan of every person. He alone cannot arrange a large investment. Therefore for the type of business that requires a lot of investment, this business is not a suitable option. 

3. Unlimited Liability – 

In sole trading, the liability of the trader is unlimited. If a business faces any loss, then his personal property can also be sold, which can make him totally insolvent. Therefore, it is not suitable in case of more risk. 

4. Limited Life Span – 

A sole trader is not separate from his business. If the trader dies or becomes lunatic, sick etc. then the business may totally stop. Therefore, for a limited life span, this business is not a suitable option. 

5. Limited Managerial Ability – 

Sole trade suffers from the limited managerial ability. The owner has to assume the responsibility of varied managerial tasks such as purchasing, marketing, etc. which may not be balanced in all the cases. Limited managerial capacity can hinder the growth of business activities.

a. Tetanus antitoxins/Tetanus toxoid. 

b. The preformed antibody injected act on the pathogen immediately to provide protection. 

c. This injection was given against tetanus and it provides passive immunity.

(a) defence mechanisms of body

HIV (Human immune deficiency virus) enters into macrophages after getting in human body  HIV multiplies first in macrophages and then in helper T cells or lymphocytes.

Events that occur in the human host after the entry of HIV:

• After entering the human body, the HIV virus attacks and enters the macrophages.
• Inside the macrophages, the RNA of the virus replicates with the help of enzyme reverse transcriptase and give rise to viral DNA.
• Then, this viral DNA incorporates into the host cell DNA uses raw materials and infected cell machinery and directs the synthesis of virus particles.
• At the same time, HIV enters the helper  T-Jymphocytes, replicates and produce progenies.
• As a result, T-lymphocytes start decreasing in number and immune response of the person becomes weak.

1. a – Pneumonia 

2. b – Fever, chills, cough, and headache

3. c – Microsporum

4. d – Ascariasis 

5. e – Ascaris lubricoids 

6. f – Salmonella typhi

(d) cytokines

(a) Cytokine barriers

1. Interferons 

2. Humoral immunity 

3. lgE

Various modes of transmission of HIV are sexual intercourse; use of contaminated hypodermic needles and syringes; blood transfusion organ transplantation; artificial insemination; from infected mother to baby during parturition (30%) and breast feeding.

1. Performed antibodies are injected

2. Passive immunity

3. Passive immunity is developed by injecting the performed antibodies, which neutralize the antigen.

a. IgA 

b. IgE

(c) Auto immunity

(b) single-stranded RNA

(c) histamines

1. In secondary response, more antibody is produced than primary response.

2. In secondary response, the memory cells help to produce more antibody rapidly than the primary response.

(b) common cold

HIV attacks the helper-T cells inside the host cell, viral RNA syntheses single-stranded DNA on it in the presence of enzyme reverse transcriptase. Single-stranded DNA separates from viral RNA and forms its complimentary copy to form double-stranded DNA which is incorporated into hosts cell DNA.

The viral DNA transcribes large number of RNA particles, each of which gets surrounded by a proteinous capsid to complete viral particles.

Finally, the host helper T- cell is lysed and many HIV viruses are released. Each of these infects new Helper T-cells. So there is progressive decrease in the number of Helper-T- cells.

RBI forms and implements the Monetary Policy.

1. ELISA 

2. Typhoid

(d) both a and b

(c) Agrobacterium tumefaciens

(c) auto immunity

The antibodies produced as immune response to allergens come under lgE 

Tax structure includes various parts, viz. income tax, corporation tax, sales tax, state duty, customs duty, etc. Any change in the tax structure by the government creates risk. Rebate in tax reduces the number of risks and an increase in tax increases the risks.

When the financial market works favourably in the right direction then adequate funds are available for development and this reduces the risk of fund management. The unfavourable condition of the market and capital market increases the risk of fund management.

Widal test is used to detect typhoid

Monetary policy is an integral part of the economic policy of a nation. This policy aims at controlling the amount of money and credit as well as the banking activities of a country. In India, RBI makes and implements monetary policy. In developing countries, monetary policy is used as an important tool to manage public debt, determine the suitable interest rate, formation and expansion of financial institutions, to maintain price stability, etc.

Business is an economic activity related to the future. Future is uncertain and therefore these uncertainties affect the business and such uncertainties are called ‘Risk’.

(d) Barbiturates

Heroin is not hallucinogen.

Initially, one may be motivated to take alcohol or drugs by many causes like peer pressure, liking of taste, desire for excitement, advertisements, false belief of enhanced performance, etc.

But the regular consumption of alcohol or drugs develops dependency on it called addition. Then if alcohol or drug is not available to an addict, then he/she start showing certain unpleasant characteristics called withdrawal symptoms.

(c)  America

Leaves and young shoots of the South American coca plant Erythroxylum coca.