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Functions of RBI:

1. Authority to issue currency: It has the sole authority to issue notes and coins in India except for one rupee note, and coins are issued by the ministry of finance.

2. Banker's bank: It acts as an agent, adviser and banker to the government.

3. Lender of last resort: It is concerned with providing loans to commercial banks in case of emergency; otherwise, commercial banks would collapse.

4. Cleaning house functions: It is concerned with passing debit and credit entries against banks without the transfer of cash.

5. Custodian of foreign exchange reserves: It maintains reserves of foreign exchange reserves with itself that can be used in case of emergency.

6. Controller of credit and money supply:

• Qualitative Measures
• Quantitative Measures

Measures of Central Tendency:

There are three measures of central tendency that are: 

• Mean: It is used to represent the average of the data. 
• Median: It is used to represent the middle value.
• Mode: It is used to represent the highest repeating value in the series or the value having the highest frequency.

All these three measures can be calculated in individual, discrete and continuous series using different formulas.

The classical principle of unfastened marketplace economics, to paintings right, has greater necessities than maximum fans realize of or intentionally pick out to ignore. Several years earlier than he posted The Wealth of Nations, wherein his unfastened marketplace capitalism principle changed into laid out, Smith posted an ee-ebook referred to as The Theory of Moral Sentiments. This is important due to the fact Adam Smith believed that society works simplest if its individuals percentage the equal well-known sentiments approximately each other and approximately themselves. "Sentiments" have been now no longer the equal aspect as ethical values, a priori pointers and prohibitions. However, they have been practices and ideals described via way of means of the individual's remark of others, human interactions and outcomes.
The essential precept of Adam Smith's philosophy is, as a consequence, individualism, unfastened rational choice, unhindered opposition, and open and universally understood know-how approximately others' behaviours and offerings. With very little governmental interference in exchange or in alternatives to be had to clients and manufacturers.
The financial gadget in vicinity contemplated Adam Smith's philosophy empirically, aside from interventions via way of means of the topped heads of Europe in struggle and heavy taxation to guide it. Besides equal products, Smith's principle referred to as for having many, many unrelated, competing manufacturers imparting fees and many, many unrelated clients bidding for the priced goods. Thus we wished small companies, clients with coins budgets to maintain, and traders who freely moved their price range from one marketplace to every other if fees have been (temporarily) yielding more than a hypothetical "normal" go back on investment. In equilibrium, because of severe opposition amongst equals, each product in each marketplace settled on one uniform clearing rate.
- Today, however, we've got huge, effective companies with impact over authorities and media, over-leveraged patron credit, manufacturers of unequal rate primarily based totally on marketed superiority in features, benefits, natural picture or maybe status identity, and traders who, via way of means of automated choice-making, do now no longer simply arbitrate the marketplace fees of goods, however, accomplish that instantaneously (i.e. a completely short-time period outlook), making markets susceptible to instability, irrational bubbles and heavy upward and downward enterprise cycles, with all the human price the ones entail.

At first, Let me understand that your instructor is sharing the excel through e-mail or whatsapp or through other forms. What so ever it may be, once you receive the excel, you will see a down arrow mark to download the excel file. Once you download it to your PC or laptop, most of the time it gets into MY COMPUTER  C: DOWNLOADS forlder.

If you download the excel file to your mobile (understanding that you have downloaded Excel to your mobile device), you can access the file strainght from the notification bar at the top after downloading / or go to FILE MANAGER - LOCAL FILES - Excel

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Hi Abhishek,

First check the subjects for each semester. Then understand the syllabus for each subject. If you have opted commerce subject in 12th standard then analyse the topics which was covered. If you have not opted commerce subject in 12th standard, then checkout in YouTube for basic concepts and start understanding.

Preparation of Final Accounts From Incomplete Records or Single Entry System:

There are two methods for the preparation of final accounts from single entry books/ incomplete records.

Method 1: Under this system, two statements are prepared:

1. Statement of profit and loss and
2. Statement of affairs.

Step1 - Prepare a statement of affairs at the beginning and at the year-end to find out the opening and closing capital, respectively.

Proforma of the statement of affairs:

Statement of affairs as on....(date).

Sources to find out details like assets and liabilities of a business enterprise:

1. Cash Book for cash balance
2. Bank Passbook for the bank balance
3. Personal Ledger for Debtors, Creditors, Bills receivable and other current assets/ liabilities etc.
4. Inventory by actual counting and Valuation
5. Written down value of Fixed assets from the list prepared by the proprietor disclosing the original cost, the date of purchase and written down value after deducting a reasonable amount of deprecation.

Step2 - Prepare a statement of profit and loss to ascertain the trading profit. It can be prepared either in the statement form or in the form of a ledger. Both the formats are explained below.

Format: Statement of Profit and Loss for the year ended.

1. In the statement form

 2. In the form of Ledger

Step3 - Prepare a statement of affairs as at the YEAR-END to show the business’s financial position.

Method 2: Conversion of single entry to double entry

Step1 - various ledger accounts are prepared, e.g. sales, purchases, debtors, creditors, Trading A/c, cash book to locate missing details.

Step2 - Find all the required details from the available information. For example, if we know opening & closing balances in Debtors’ A/c and the cash received from debtors, the balancing figure will indicate sales figures. Similarly, with the opening and closing balances of creditors & credit purchases figures, we can find cash paid to creditors from the creditor’s ledger.

Step3 - Once all these figures required to prepare financial statements are calculated through their respective ledgers, it is easy to prepare the financial statements in regular formats.