Manufacturing cost: is the sum of costs of all resources consumed in the

process of making a product. The manufacturing cost is classified into three

categories: direct materials cost , direct labor cost and manufacturing
overhead.

Direct materials cost Direct materials are the raw materials that
become a part of the finished product. Manufacturing adds value to raw
materials by applying a chain of operations to maintain a deliverable
product. There are many operations that can be applied to raw materials such
as welding, cutting and painting . It is important to differentiate between
the direct materials and indirect materials.

Direct labor cost The direct labor cost is the cost of workers who can be
easily identified with the unit of production. Types of labor who are
considered to be part of the direct labor cost are the assembly workers on an
assembly line.

Depreciation is the allocation of an assets cost over its useful life. A
company may choose from different methods of depreciation for financial
reporting purposes. Straight line, double-declining balance and units of
production are three such methods. Each method differs in the way it
allocates an assets cost.

Articles Of Association
A document that specifies the regulations for a companys operations. The
articles of association define the company's purpose and lays out how tasks
are to be accomplished within the organization, including the process for
appointing directors and how financial records will be handled.

Lionel Robbins ( *): Economics is a science which studies human behavior as a
relationship between ends and scarce means which have alternative uses.



Definition of 'Promissory Note'
A financial instrument that contains a written promise by one party to pay
another party a definite sum of money either on demand or at a specified
future date. A promissory note typically contains all the terms pertaining to
the indebtedness by the issuer or maker to the note's payee, such as the
amount, interest rate, maturity date, date and place of issuance, and
issuer's signature.

I T O Inventory To Order
N C O net capital outflows

Net Capital Outflow is the net flow of funds being invested abroad by a
country during a certain period of time. A positive NCO means that the
country invests outside more than the world invests in it and vice versa.

Definition of 'Negotiable Instrument
A document that promises payment to a specified person or the assignee. The
payee (the person who receives the payment) must be named or otherwise
indicated on the instrument. A check is considered a negotiable instrument.
This type of instrument is a transferable, signed document tha promises to
pay the bearer a sum of money at a future date or on demand. Examples also
include bills of exchange, promissory notes, drafts and certificates of
deposit.

Definition of 'Endorsement'
1. A legal term that refers to the signing of a document which allows for
the legal transfer of a negotiable from one party to another. 2. An
attachment to a document that amends or adds to it. Typically, it is an
added provision to an insurance policy. Also referred to as a "rider".

'Unskilled Labor'
A segment of the work force associated with a low skill level or a limited
economic value for the work performed (human capital). Unskilled labor is
generally characterized by low education levels an small wages. Work that
requires no specific education or experience is often available to
workers who fall into the unskilled labor force.

Unproductive economic activity is built into the structure of
capitalism. The capitalist class itself is an unproductive class, and it
develops around itself other unproductive activities such as financial
speculation, legal battles, and excessive, misleading advertising. According
to Marxist economist Victor Perlo, half of all labor in the U.S. is
unproductive. (15) Included in his figure are all government employees,
however, as the definition of "unproductive" is made very broad.

The Lok Sabha or House of the People is the lower house of the Parliament of
India. Members of the Lok Sabha are elected by direct election under
universal adult franchise. As of 2009, there have been fifteen Lok
Sabhas elected by the people of India.

Franklin D. Roosevelt served three full terms as president of USA

Definition of 'Absorption Costing'

A managerial accounting cost method of expensing all costs associated with
manufacturing a particular product. Absorption costing uses the total direct
costs and overhead costs associated with manufacturing a product as the cost
base. Generally accepted accounting principles (GAAP) require absorption
costing for external reporting.

Parliament of Japan:
It's called the National Diet or simply Diet. The word "diet" comes from a

Sindh was separated from the Bombay presidency with effect from 1 April 1936
















Uncles of Holy Prophet Muhammad (S.A.W)
1. Abdul Uzza known as Abu Lahab, who was a great enemy of Islam. (died as a
polytheist) 2. Abu Talib, father of Hazrat Ali, one of the respected men of
Quraysh, he took care of the Prophet (pbuh) after his grandfather died
and continued to protect him until his own death. (died as a polytheist)
3. Al-'Abbas, converted to Islam and joined the Muslims just as they were
about to enter Mecca. 4. Hamzah, one of the bravest and strongest
of the Muslims. Fought at Badr and was
killed in Uhud.

Jallianwala Bagh is a public garden in Amritsar in the Punjab state of India
, and houses a memorial of national importance, established in 1951 to
commemorate the massacre by British occupying forces of peaceful celebrators
on the occasion of the Punjabi New Year on April 13, 1919 in the
Jallianwala Bagh Massacre . Colonial British Raj







Quaid-i-Azam Mohammed Ali Jinnah:
(15-8-1947 to 11-9-1948)
Mr.Khwaja Nazimuddin:
(14-9-1948 to 11-11-1948) (as Acting Governor- General)
(12-11-1948 to 19-10-1951) (as Governor-General)
(Resigned on assumption of office as the Prime Minister)
Mr. Ghulam Mohammed:
(19-10-1951 to 7-8-1955)
Major General Iskander Mirza:
(7-8-1955 to 6-10-1955) (as Acting Governor- General)
(6-10-1955 to 23-3-1956) (as Governor-General)