Conditions or Essentials for a valid Tender

Below are some of the pre-requisites of a valid tender -

1. The Tender must be unconditional
2. The Tender must be for the whole obligation
3. The Tender must be given at a proper time
4. The Tender must be given at a proper place
5. The Tender must give a reasonable opportunity of inspection
6. The party giving the tender must be willing to perform its part of obligations
7. The Tender must be made to the proper person
8. The Tender must be made for the exact amount of money

Types of Tenders and their Effects

Tender is a means (arising out of certain conditions) by which a Contract is deemed to be performed. Since, recent Examination pattern of IPCC & CPT is more logic oriented rather then based on just cramming; tender qualifies the criteria to be considered as a promising topic.

Query Language, SQL and its parts

A Query Language is a set of commands to create, update, access data from database allowing users to raise adhoc queries/questions interactively without the help of programmers

There Exists Different set of Commands under each Language component of SQL

These Components/Commands are made clear and can be understood by the hierarchical chart given below :

Presentation of Information to Management under Marginal Costing

Sales
(-) Direct Material                                                          xxxxx             
(-) Direct Labour                                                           xxxxx              
(-) Variable Factory Overhead                                      xxxxx              
(-) Variable Selling and Distribution Expenses             xxxxx  

Presentation of Information to Management under Absorption Costing

STATEMENT OF NET PROFIT [AS PER ABSORPTION COSTING]
Sales                                                                                   xxxxx
(-) Direct Material                                                                xxxxx
(-) Direct Labour                                                                 xxxxx
(-) Direct Expenses{Factory Overhead}                            xxxxx

Users of DBMS

DBMS users include -

1. Application Programmers and System Analysts
2. End Users
3. Data Base Administrators [DBA]
4. Database Designers

Following Smart Art depicts the Spread of a typical DBMS-

Database is accessed first by several distinct Application Programs or technically PROCEDURES; these procedures or application programs then distribute the accessed data/information to the users who had requested such information.

Benefits of using DBMS

Data Base Management System acts as a route map to a distributed bunch of Database(s)

• Reduced Data redundancy and inconsistency
  
• Enhanced data integrity and security
  
• Provide logical and physical data independence
  
• Provide application Data Independence

Data Base and Data Base Management System[DBMS]

Data Base is a COMPUTER FILE SYSTEM that uses particular file organization to facilitate rapid updating of individual records, simultaneous updating of related records, easy access to all records, by all applications, programs, and rapid access to all stored data which must be bought together for a particular routine report or inquiry or a special purpose report or inquiry. As far as pats of DBMS are concerned, it consists of Data, Hardware, Software & User.

Performance Of A Contract - In the Light of The Indian Contract Act, 1872

The Indian Contract Act; Being the guiding protocol for execution and performance of contacts under it has laid the guidelines regarding the performance of a contract; A Contract broadly may be performed by either of the following-            

1. Actual Performance
2. Attempted Performance/Offer to Perform/Tender

Six Sigma Methodology

It can be studied under two heads -
(i) For Improvement of “Existing” Product, Process or Service ;

    DMAIC

• Define
• Measure
• Analyze
• Improve
• Control

Six Sigma

“MOTOROLA” is inventor of Six Sigma. Primarily, Six Sigma means maintenance of desired quality in processes and end products.

It means taking systematic and integrated efforts towards improving quality and reducing cost.

Six Sigma efforts target three main areas :

• Improving Customer Satisfaction
• Reducing Cycle Time
• Reducing Defects

Appropriations of Payments–Under Contract Act

There are some situations where a certain amount is paid by the debtor to his creditor with or without intimating its intended application, these situations are frequently asked in the form of case studies in various examinations including CPT, IPCC etc. ; these situations may be elaborated in following sub-situations and can be dealt as understated :