07Oct 2018 by Reese Bannister

5 Main Limitations of Budgetary Control

Management
Budgeting has the following limitations which require careful consideration:1. The success and utility of budgeting depends on the cooperation and participation of all members of management. All persons should direct their efforts according to the plan. The top management also should adhere to the budget and provide cooperation. Many a time budgeting has failed because executive management has paid only lip service to its execution. image source: pd.mia.org.my ADVERTISEMENTS: 2. Planning, budgeting or forecasting is not an exact science. It uses approximations and judgement which may not be cent per cent accurate. At best, a budget is an estimate; no one knows precisely what will happen in the future. Budgets need to be revised from time to time for any change in plans, operating conditions, technology, etc.3. A budget is…
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07Oct 2018 by Reese Bannister

Difference between Estoppel and Res Judicata – Explained!

Law
Difference between Estoppel and Res Judicata are as follows:1. Estoppel is a part of the law of evidence, and proceeds upon the equitable principle of an altered situation; the doctrine of res judicata, belongs to procedure, and is based upon the principle that there must be an end to litigation. Image Source: 3.bp.blogspot.com ADVERTISEMENTS: 2. Estoppel prohibits a party from proving anything which contradicts his previous declaration of acts to the prejudice of the party, who relying upon them, altered his position. Res judicata, on the other hand, prohibits the Court form inquiring into a matter already adjudicated.In other words, res judicata precludes a man averring the same thing twice over in successive litigation, while estoppel prevents him from saying one thing at one time and the opposite at another.
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07Oct 2018 by Reese Bannister

Evidentiary Value of ‘Ancient Documents’ under Indian Evidence Act, 1872

Law
Where any document, purporting or proved to be thirty years old, produced from any custody which the Court considers proper, the Court may presume that the signature and every other part of such document which purports to be in the handwriting of any particular person, is in that person’s handwriting, and in the case of document executed or attested, that it was duly executed and attested by the persons by whom it purports to be executed and attested. (S. 90) Image Source: en.tengrinews.kzWhat is proper custody? ADVERTISEMENTS: Documents are said to be in proper custody if they are in the place in which, and under the care of the person with whom, they would naturally be. However, no custody is improper if it is proved to have had a legitimate…
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07Oct 2018 by Reese Bannister

What do you mean by Public Documents under Sections 74-76 of Indian Evidence Act?

Essays
Public Documents (Sections 74-76):All documents are private (S. 75), except the following, which are public documents, viz. Image Source: freeline.bg1. Documents forming the acts or records of the acts: ADVERTISEMENTS: (i) Of the sovereign authority,(ii) Of official bodies and tribunals, and(iii) Of public officers, legislative, judicial and executive, of any part of India or of the Commonwealth or of a foreign country. ADVERTISEMENTS: 2. Public records kept in any State of private documents. (S. 74):Certified copies of public documents (S. 76):Every public officer having the custody of a public document (which any person has a right to inspect) must, on demand and payment of legal fees therefor, give a copy of it with a certificate (dated, signed and sealed) at the foot that it is a true copy. A copy…
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07Oct 2018 by Reese Bannister

What are the Objective and Importance of Plant Maintenance? – Explained!

Industry
Maintenance of plant, building, machinery and equipment plays an important part in determining the life expectancy of physical assets. The actual service lives may be lengthened considerably by a good maintenance programme. image source: blogs.dctc.eduThe purpose of plant maintenance is usually secondary, however to the need for keeping industrial building and their equipment and good working order. Therefore, the objectives of maintenance are twofold: ADVERTISEMENTS: (a) To keep the plant in working conditions.(b) To arrest depreciation and forestall obsolescence. “Maintenance in the industrial plant is the upkeep, repair, renewal and replacement of worn, damaged or obsolete parts of building, machinery and equipments.” Maintenance may be preventive or corrective in character. Preventive maintenance implies frequent inspection to detect minor faults and the early correction of them, supplemented by periodic overhauling in…
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07Oct 2018 by Reese Bannister

What are the Advantages and Disadvantages of Capital Budgeting? – Explained!

Construction
The decision regarding capital expenditures have far reaching effects on the success or failure of the enterprise. Once acquired, capital assets cannot be disposed off except at a substantial loss. The capital budgeting decisions pertain to fixed assets or long term assets and yield a return, over a period of time, usually exceeding one year. image source: i.ytimg.comAccording to G.D. Quirin, the capital budgeting decisions involve a current outlay for an anticipated flow of future benefits. In other words, the system of capital budgeting is employed to evaluate expenditure decisions which involve current outlays but are likely to produce benefits over a period of time longer than one year. ADVERTISEMENTS: Each year business firms commit huge sums of money for capital expenditures. Within each firm different projects or proposals compete…
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07Oct 2018 by Reese Bannister

Section 116 of the Indian Evidence Act, 1872

Law
Estoppel of tenant: and of licensee of person in possession:No tenant of immovable property, or person claiming through such tenant, shall, during the continuance of the tenancy, be permitted to deny that the landlord of such tenant had, at the beginning of the tenancy, a title to such immovable property; and no person who came upon any immovable property by the licence of the person in possession thereof, shall be permitted to deny that such person had a title to such possession at the time when such licence was given. Image Source: phillyaptrentals.com ADVERTISEMENTS: Comments: Principle: This section deals with estoppel arising out of relationship between (i) a tenant and landlord; (ii) between licensee and licensor. The basic principle of Section 116 is that when a person comes into possession…
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07Oct 2018 by Reese Bannister

Role of Public Administration in Political Development – Essay

Government
This role varies according to the nature of the state and its politics. However, in the developing world the role of public administration in political development is quite significant because of the prevailing political culture in the developing countries. Image Source: ph.nec.comThough the concept of political development itself is not clear but attempts have recently been made to critically examine the role of bureaucracy in political development. The word “Political” is generally used to connote both partisan politics and policy making. Political development is interpreted as a process of political institution building and people’s participation on it. ADVERTISEMENTS: It is now well established and accepted that public administration is an important instrument of policy. Since bureaucracy is the only available instrument to the state in the developing society it becomes…
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07Oct 2018 by Reese Bannister

Legal Provisions Regarding Cross-Examination of Witness under Indian Evidence Act

Essays
After a party examines his witness-in-chief, his opponent has a right to cross-examine him. A cross-examination follows upon the examination-in-chief, unless the Court, for some reason, postpones it. The essence of cross-examination is that it is the interrogation by one party of witness called by his adversary with the object either to obtain from such witness an admission favourable to his cause or to discredit him. Image Source: attorneyjournal.usThe idea behind cross-examination is two-fold: to weaken, qualify or destroy the case of the opponent, and to establish a party’s own cause by means of his opponent’s weakness. The main objects of cross-examination are to measure the accuracy, credibility and general value of the evidence given in chief, so as to sift the facts already stated by the witness, to detect…
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07Oct 2018 by Reese Bannister

6 Major Factors that Affect the Quality of Manufactured Products

Management
The term quality as applied to manufactured products may be defined as that characteristics or combination of characteristics which distinguishes one article from another, or the goods of one manufacturer from those of their competitors, or one grade of product from another when both are turned out by the same factory. image source: verotechsolutions.netQuality is dual: on the one hand it serves to identify the article and on the other, it is equivalent to the degree of perfection. It is not absolute and can only be judged or realized by comparison with some pre-determined standard(s). ADVERTISEMENTS: When such a standard(s) has (have) been specified, then the quality of the product can be described as “better or worse” or “higher or lower” than the established quality specification(s). In other words, quality…
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