Questions with Answer

Define ERP. Discuss the benefits and challenges associated with implementing an ERP system. Additionally, analyze the common causes of ERP implementation failures.

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Define ERP. Discuss the benefits and challenges associated with implementing an ERP system. Additionally, analyze the common causes of ERP implementation failures.

ERP (Enterprise Resource Planning) is software that helps businesses manage and integrate their key operations, such as finance, human resources, inventory, production, sales, and customer support. It centralizes all data into a single system, allowing departments to work together smoothly and make better decisions. Benefits of ERP Systems 1. Improves Efficiency:ERP automates daily tasks, reduces … Read more

How RDBMS is different than DBMS? List and explain the different advantages of DBMS over traditional file processing systems.

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How RDBMS is different than DBMS? List and explain the different advantages of DBMS over traditional file processing systems.

The difference Between DBMS and RDBMS, Feature DBMS RDBMS Full Form Database Management System Relational Database Management System Data Storage Stores data in files. Stores data in tables (rows and columns). Data Relationship No relationships between data. Uses relationships (primary keys, foreign keys). Data Integrity Does not enforce constraints strictly. Enforces data integrity with constraints. … Read more

What do you mean by liquidation? Explain the process of voluntary liquidation according to the company act 2063 of Nepal.

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What do you mean by liquidation Explain the process of voluntary liquidation according to the company act 2063 of Nepal.

Liquidation is the process of closing a company and converting its assets into cash to pay off its debts. If there is any money left after paying the debts, it is distributed to the shareholders. Liquidation can occur due to the company’s inability to continue its business or when shareholders voluntarily decide to close it. … Read more

What is Public limited Company? How a company is incorporated according to the company act 2063 Nepal?

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What is Public limited Company How a company is incorporated according to the company act 2063 Nepal

A public limited company is a type of company that can raise funds by issuing shares to the general public. It operates under certain legal requirements and is governed by the provisions of the Company Act 2063 of Nepal. Public limited companies usually have the following features: 1. Separate Legal Entity: The company is treated … Read more

Briefly discuss the rights and duties of principal and agent in agency contract.

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Briefly discuss the rights and duties of principal and agent in agency contract.

An agency contract creates a relationship where one person (the agent) acts on behalf of another person (the principal). Both the principal and the agent have certain rights and duties. Here’s an explanation in simple terms: Duties of Principal 1. Pay the Agent:The principal must pay the agent the agreed salary, commission, or fees for … Read more

Is an agent personally responsible for the agency business? Mention the circumstances.

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Is an agent personally responsible for the agency business? Mention the circumstances.

An agent is someone who works on behalf of another person, called the principal, to handle business or legal tasks. Normally, the agent is not personally responsible for the business because they act for the principal. Any agreements or actions by the agent are seen as the principal’s responsibility. There are some situations where an … Read more

What is an agent? Define right and duties of the agent.

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What is an agent? Define right and duties of the agent.

An agent is a person or entity authorized to act on behalf of another person or entity, known as the principal, in conducting business, making decisions, or entering into contracts. The relationship between the agent and the principal is governed by an agreement (explicit or implied), where the agent acts within the scope of authority … Read more

What are the major duties of an auditor? State in brief the conditions of removal of an auditor.

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What are the major duties of an auditor? State in brief the conditions of removal of an auditor.

An auditor checks a company’s financial records to ensure they are accurate and follow laws and rules. The key duties of an auditor are: 1. Check Financial Statements Review the company’s financial reports to ensure they are correct and follow accounting standards. 2. Follow Legal Rules Ensure that the company is following all financial laws … Read more

What is contract of Agency? Explain the modes of creation of agency using suitable examples.

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What is contract of Agency? Explain the modes of creation of agency using suitable examples.

A Contract of Agency is an agreement where one person, called the agent, is legally authorized to act on behalf of another person, called the principal, to deal with third parties. The agent represents the principal and works to fulfill their instructions. The principal is responsible for the actions taken by the agent within the … Read more

Powers and Duties of the Board of Directors

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Powers and Duties of the Board of Directors

The Board of Directors is a group of people chosen by shareholders to run the company, make decisions, and follow the law. A company is an artificial person, meaning it cannot make decisions or take actions on its own. For this reason, it is managed by a group of people called the Board of Directors. … Read more