Baay Haath Ka Khel
Full Form of EMI
Equated Monthly Installment
Full Form of IBC
Insolvency and Bankruptcy Code
Tell a tip to avoid Bankruptcy
Sell non-essential business assets
Renegotiate repayment plans
Make debt repayments a priority
AND MORE
Name any 2 cons of Accounting
We cannot record qualitative transactions
Certain items are recorded on estimates
AND MORE
From which state can we recover from
INSOLVENCY/BANKRUPTCY
INSOLVENCY
Which type of loan will be taken for buying a new house
Home Loan
What is Demand Pull Inflation
Demand>Supply
2 examples of plastic money
Credit cards
Debit cards
ATM cards
____________ HAI TOH SAHI HAI
is a Tagline of
Mutual funds
Name any 1 liability for a business firm
creditors
bank loans
bill payables
Mention 2 ways to avoid Debt Trap
Making Budget
By Saving
Decrease Our Wants
Look for ways to increase your income
Pay off the expensive loans first
AND MORE
What is the 80:20 ratio in Banks
80%=Loans
20%=Cash Reserves
Full Form of KYC
Know Your Costumer
Tell any 2 reasons that could lead you to debt trap
Your EMIs exceed 50% of your income
You have exhausted your credit card limit
You have too many loans
AND MORE
What is the difference between a cheque and a demand draft
A demand draft is issued by a bank while a check is issued by an individual.
Payment of a demand draft may not be stopped by the drawer as it may with a check.
Banks earn money through the interest they charge on loans.
TRUE/FALSE
TRUE
Banks help the economy by generating more money.
TRUE/FALSE
TRUE
Describe a situation when a WANT changes to a NEED
Many Possible Answers
Name any 3 types of expenditure from the point of view of a business firm.
TAX
LAND
MACHINES
TRANSPORT
MATERIAL
Name 2 reasons a person keeps money in the bank
It is safer to keep money in banks.
Banks give you higher interest rates on your money.
Banks are able to handle your money better than you.
Banks extend all the money they have as loans.
TRUE/FALSE
FALSE
Name 3 services provided by a bank
Safekeeping of Money
Withdrawal
Interest
Credit
Trade Exchange
What is an advantage of Mutual Funds/Stock Market
We can invest with less amount
You can earn higher profits
What are Banks
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans
Name the term when a person has sufficient money to fullfil his needs
Financial Freedom