ACCOUNT, CLASSIFICATION OF ACCOUNTS, RULES OF ACCOUNTING ( traditional approach and modern approach )

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Unit 3 : Web commerce module notes

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ELECTRIC MARKET PLACE An electronic marketplace (e-marketplace) is a digital platform connecting multiple buyers and sellers to conduct transactions, exchange information, and collaborate online for goods and services. These platforms, such as Amazon or eBay, host various vendors and serve as a single point of access for them to find customers and for buyers to find products.  FEATURES Wide product selection : Buyers can find a diverse range of products from various sellers in one location Price comparison : The platform offers real-time price comparison across different vendors, allowing buyers to find the best deals.  Search and filtering : Advanced search functions with filters help buyers quickly locate the specific items they need.  Reviews and ratings : User-generated content like reviews and ratings build trust and help buyers make informed decisions.  Convenient shopping : A one-stop shopping experience simplifies the process of buying multiple item...
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🪧 ONLINE BANKING Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mobile app.           Internet banking allows a user to conduct financial transactions via the Internet. Internet banking is also known as online banking or web banking. Internet banking offers customers almost every service traditionally available through a local branch including deposits, transfers, and online bill payments. Virtually every banking institution has some form of online banking, available both on desktop versions and through mobile apps. With online banking, consumers aren't required to visit a bank branch to complete most of their basic banking transactions. They can do all of this at their own convenience, wherever they want i.e at home, at work, or on the w...
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MODULE 3 BANKER & CUSTOMER Notes

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🪧Operating the Bank Account🪧 Operation of customers account means depositing money in to the account and its frequent withdrawal. Each and every such transaction should be properly supported by proper documents. The paying-in-slip, cheque book and pass book are the most frequently used documents to operate the account of customers. 1. Pay-in-Slip book:  A paying-in-slip book is a book which contains printed slips called pay-in-slips. This book is supplied by the bank to the customer. This document is used to deposit cash, cheques, drafts, bills etc. to the credit of his account. It contain information such as date of deposit, name and account number of the customer. amount to be deposited, the denominations of currency notes etc.  2. Cheque Book:  A customer is also provided with a cheque book to operate his account. A cheque book contains 10 or 20 blank cheque leaves serially numbered. Cheques are used to withdraw money from current and savings bank account. Money in t...
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