Bank Clerk Questions

The Business Entity concept is also called as Separate Entity or Economic Entity concept. This concept states that the transactions and all the balances related or associated with a business must be recorded or accounted separately from other businesses or the individual personal transactions.

In the year 1786, in US Shay's rebellion was a rebellion among the farmers of Massachusetts and significant because as it is one of the major factor which led to the writing of new US constitution.

A firm maximizes profit by operating where marginal revenue equals marginal cost. They use less of an input in producing more products to increse their profits.

Making Optimal decisions at the margin requires "Weighing the costs and benefits of a decision before deciding if it should be pursued".

The process of System development life cycle goes through a series of stages in step wise fashion that almost every developing company follows.

Known as the 'software development life cycle,' these six steps include:

1. Planning

2. Analysis

3. Design

4. Development & implementation

5.Testing & deployment and

6. Maintenance.