A shop’s money has two main homes: the cash box and the bank account. Every sale, payment, deposit and withdrawal must be recorded in the right place. But what happens

Imagine a shopkeeper checking the accounts at the end of October. Cash has come in, money has moved between the cash box and the bank, a customer has become insolvent,

The two main functions of a commercial bank are: 1. Accepting Deposits: Banks keep people’s money safe in savings accounts, current accounts and fixed deposits. They may also pay interest

Introduction In business, goods are not always sold immediately after they are produced. Sometimes, products need to be stored until customers demand them. For this purpose, businesses use warehouses. Warehousing

Imagine a business owner who receives a cheque from a customer and celebrates: “Excellent! Money is coming into the bank!” Then, a few days later, the bank sends a message:

A business begins January with ₹26,000 in cash and ₹72,000 in the bank. During the month, it discounts a bill, pays suppliers, receives money from customers,s and deals with a

Imagine a business with ₹70,000 in its cash box and ₹80,000 in the bank. The business is moving fast: goods are purchased by cheque, customers pay in cash and by

A business can have cash in its cash box and still owe money to the bank. That is exactly the situation facing our business on 1 March 2012: it has

Currency notes are an important form of money used in India.

Definition: Money is anything that is widely accepted as a means of payment for goods and services and for settling debts. The three main functions of money are: 1. Medium