Class 10 Account Solution
You have been provided the following statements along with the terms related to the statements. You are required to write the term behind the blank in each statement.
A place where the organizational activities are carried out. Office
The sequential and logical steps developed to perform organizational activities properly and smoothly. Office Procedures
A written statement of facts and information that moves in upward direction. Tippani
It is the output of certain study or research. Report
A report prepared for a particular year of time. Annual Report
It represents the plans, policies and activities of a government. Government Report
The subject of discussion presented in a meeting. Resolution
The resolution that is presented in a general meeting of shareholders. General Resolution
The resolution that makes long term impact to an organization. Special Resolution
It is prepared by an auditor after examination of books of account. Audit Report
Short Answer Questions
Explain the meaning and need of office procedures.
Ans: Office procedures are the set of rules or policies guiding the operations of an office or business. They are the formal process followed by an organization to collect the necessary information for making efficient and effective decisions. Hence, following are the main importance of office procedures:
For performance of office related jobs in organized and uniform way.
For abiding by the law of appropriate region where the business is functioning.
For proper solution to organizational problems by listening and implementing the opinions, ideas and information from even lower level staffs.
What do you mean by Tippani? Briefly explain the objectives of Tippani.
Ans : A Tippani is written statement of facts, information, related rules and regulations, opinions and suggestions. It is prepared by lower level staffs and submitted to higher level staffs for decision making. Since it is used to make important decisions, it should be checked by each authority to ensure the inclusion of all the information and documents.
The objectives of Tippani are as follows:
To make correct and effective decisions on a particular issue.
To communicate the current problems regarding particular issue to concerned higher authority.
To clear the existing unclear rules and regulations or amend them.
To make decisions based on opinions of all staffs of organization.
Mention the things to be considered while drafting a Tippani.
Ans: The act of preparing a Tippani in a systematic manner is called drafting a Tippani. Since it should include the related facts, information, rules and regulations in an orderly manner, drafting a Tippani is a vital issue. Points to be considered for drafting a Tippani:
The subject of Tippani should be clearly mentioned.
It should include all related facts, information, rules, regulations, ideas, opinions etc. of the concerned authorities.
It should be supported by necessary documents as evidences.
It should be checked and duly signed by each authority to ensure its validity and inclusion of all the information and documents.
What do you mean by report? What are its objectives? Mention briefly.
Ans : A report is a written statement of jobs done by an organization, committee, commission, etc. for a particular period of time. It includes the details about problems, progress, achievements, facts, information etc. regarding the problems under study. The main objectives of reports are listed below:
To find out the inefficiencies of particular department and ways to overcome them.
To disclose the facts about public programs run by government and their relevance to society.
To discuss the performance and progress of particular organization.
To serve as the foundation on the basis of which decisions are taken.
Mention the points to be considered while drafting a report.
Ans: Report being a significant document for an organization should be prepared by skilled and experienced staffs by following standard procedures. Following factors should be taken into consideration while drafting a report:
The title of report along with date and subject should be established on top of the report.
The time frame covered by the report should be clear.
The information should be represented in such manner that they are comprehensive and communicative.
Report must incorporate the opinions and suggestions of the report writer.
Finally, report must be duly signed by the preparer to retain its validity.
Explain in brief different types of reports.
Ans: Report is the output or conclusion of certain investigations, study or research. Following are the various types of reports:
The report covering the activities, progress and achievements made in a particular year is called Annual Report. It is prepared by all kinds of organizations to measure their performance over the year. In companies, annual report comprising of financial documents is presented at general meeting for approval by shareholders.
A government is always accountable to general public. So a report is prepared by government to make people aware about its activities, plans, policies, revenues or incomes, expenditures etc. which is called a government report. Based on this report, people can judge on the efficiency of the government.
A report regarding the preparation and communication of financial information of an organization prepared by the auditor is called audit report. It checks whether financial transactions are carried out within existing rules and regulations. Auditor General and independent auditor prepares the audit report for government organization and public company respectively.
A report prepared by students or academic institution after completion of the examination or study or research is called academic report. The content of the report is related to educational or academic activities.
A committee is group of experts formed to achieve a particular objective by carrying out certain activities. The very report prepared by members of committee after completion of designated job is called committee report. It is submitted to concerned authority for approval and implementation.
Write the meanings and objectives of resolution.
Ans: The subjects matter presented in the meeting for discussion and decision is called resolution. It is a written proposal. The participants of meeting discuss on the relevance, pros and cons of particular resolution and accordingly decide on the approval, rejection or postponement of the resolution.
Objectives of resolution are briefly discussed below:
To state the facts about discussion in systematic and organized manner.
To serve as evidence for the validation of decisions.
To allow the management to make democratic decisions.
To act as documented evidence for future misunderstanding and disputes.
To enable the participants of the meeting to have beforehand knowledge about the matters to be discussed in the meeting.
Mention briefly about the different types of resolution.
Ans: The subject of discussion presented in a meeting is called resolution. As per the Company Act 2063, resolutions have been broadly divided into two categories:
The resolution that is presented in the general meeting of a public company is called ordinary resolution. It is generally related to the usual and regular activities of a company. The general resolution can be approved if it is passed by simple majority i.e. more than 50% of the shareholders.
The resolution that is presented in the special meeting of the shareholders is called special resolution. The impact and prominence of a special resolution are generally high and long term. Some instances are: issuance of bonus shares, winding up of company etc. However, it has to be approved by getting permission from two third of shareholders i.e. 75% of the shareholders..