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Introduction A piece of common knowledge for laymen is that banks deposit and lend money are loans. But, people hardly know that banks create money when they extend a loan. Banks usually deposit a portion of the deposited money and offer a major portion of its reserve as loans. When such a process is followed, the bank necessarily creates an account in the name of the loan bearer. When such an account is created and money is deposited in that account, fresh capital is created by the banks. To understand the process of such money creation, let’s look at the ... Read More
Introduction Partnerships or partnership firms are businesses where there is more than one owner of the business. Usually, when two or more individuals join hands to create a new firm, it is known as a partnership. Partnerships have their unique nature and characteristics. Here is all about the nature of partnership businesses. Nature of Partnerships In business partnerships, two or more people agree to share the profits or losses by jointly owning the business. The partnership business is actually a business relationship between two more persons. According to the partnership act of 1932, a ‘partnership is the ‘relation between ... Read More
What is Net Domestic Product? The Net Domestic Product (NDP) is a key indicator of the economic growth of a country. Net Domestic Product (NDP) refers to the net monetary value of all commodities and services produced within the national borders of a country in a given period of time. In other words, NDP is the measure of net economic output in a year for a country. It is calculated by subtracting depreciation from the Gross Domestic Product (GDP). The depreciation in the calculation of NDP refers to the depreciation of capital assets, such as machinery, housing, and vehicles. The ... Read More
Introduction The net exports formula is a key indicator of the economic health of a nation. As it includes both the total exports and total imports of a nation, it shows whether the output is healthy or not. It provides a broader idea of the volume of exports in comparison to the volume of imports of a nation. Therefore, knowing the net exports formula can be helpful in deciding whether a certain industry needs support or not. Net export is an important indicator of a country’s financial health. It may provide clues to business industries in deciding whether to ... Read More
What is SLA? SLA can be expanded to Service Level Agreement. It is an agreement between a service provided and a client. The agreement includes the following Details of the service The standard of service that the service provider has to maintain Performance measurement metrics Usually, SLAs are used by IT companies as they provide a surety that the terms written on the agreement will be fulfilled. If the service is not being provided as per the agreement, it may result in deductions. SLAs can be used internally within different departments or between different organizations. Types of SLA ... Read More
What is SKU? The full form of SKU is Stocked Keeping Unit. It is a bar code which can be seen in the printed form on different products in different retail stores. SKUs are beneficial as they let the store owners know about the movement of inventory. SKU is a combination of 8 alphanumeric characters which are used to track the following − Price Product details Manufacturer Point of sale (POS) SKUs can also be used for warranties and for billing tasks such as repairing a machine. When you purchase something from a store, the POS system removes ... Read More
What is PFA? PFA stands for Please Find Attachment. If you are sending an email or a file on apps like WhatsApp, you can use the phrase or the short form to let the receiver know that one or more files are attached. You can attach your CV if you are searching a job. There are many more reasons to attach different types of files. The files of different forms can be attached like charts, images, audio, video, text, etc. Usage of PFA when sending Email There are many occasions where an attachment is included while sending emails. Some of ... Read More
What is MP3? MP3 stands for MPEG Audio Layer 3 developed by Moving Pictures Experts Group. It is a technology which is used to compress audio files without affecting their audio quality. Disk space used by the MP3 files is very low so a large number of audio files can be easily stored. You can store thousands of files and you also have the option of downloading them from different websites. A song file can be of 40 MB but when it is compressed to MP3 its size becomes 4 MB. An MP3 player is available by default in the ... Read More
What is ITES? ITES stands for Information Technology Enabled Services. There are different types of services that IT provides to different types of businesses and organizations. Some of these services include data processing, consulting, technical support, and many more. ITES can be used to fulfill different kinds of demands of an organization. here we will discuss some of the services provided by ITES. ITES Examples ITES has different types of examples and some of them are discussed here. BPO BPO stands for Business Process Outsourcing. The main job of BPOs is the outsourcing of different processes like customer service, accounts ... Read More
What is CPU? CPU stands for Central Processing Unit. It is the most important part of a computer as it acts as a brain. CPU is a device in which all data processing is done in different parts. Communication can be established between input and output devices with the help of CPU. Besides data processing, the CPU also handles the tasks of input, output, and data storage. Installation of the CPU is done on sockets which are located on the motherboard. History of CPU Vacuum tubes were used in the earliest computers called ENIAC and UNIVAC. Vacuum tubes processed data ... Read More