Class 9 Social Science Book Part 2 (Economics) Chapter 5: Managing Your Personal Finances

Class 9 Social Science (Economics) Book Part 2 Chapter 5 Notes (Managing Your Personal Finances)

Before you proceed further, below are the quick details:

• Class: 9
• Subject: Social Science (Geography)
• Book Name: Understanding Society: India and Beyond
• Chapter Number: 5
• Chapter Name: Managing Your Personal Finances
• Book Part: 2

Table of Contents

Introduction to Personal Finance 1 subtopic

↳ The Big Questions

Pillars of Personal Finance 6 subtopics

↳ Income (Earnings) ↳ Budgeting (Planning Expenses) ↳ Steps in Budgeting ↳ Saving ↳ Investing (Growing Wealth) ↳ Power of Early Investments

Common Investment Options 4 subtopics

↳ Fixed Deposits (FDs) ↳ Bonds ↳ Stocks (Equity or Shares) ↳ Mutual Funds

Protection and Risk Management 3 subtopics

↳ Insurance ↳ Types of Insurance ↳ Borrowing and Credit

Risk and Return

Taxes 1 subtopic

↳ Personal Income Tax

Before We Move On

Questions and Activities: Managing Your Personal Finances 3 subtopics

↳ School Reopening Budget Activity ↳ Investment Planning Activity ↳ Family Budget and Savings Activity

Are you looking for more chapters? Explore more chapters from Book Part 1 and Book Part 2. Click here to view the complete chapter list.

Introduction to Personal Finance

The Big Questions

1. What is personal finance and why is it important for individuals?
2. What are the pillars of personal finance?
3. What are some common savings and investment options?
4. How can you protect your savings and assets?
5. What is income tax?

Have you ever received pocket money or money from relatives during festivals or special occasions? Think about how you usually use that money.

• Do you spend it immediately or save some of it?
• Do you keep your savings in a piggy bank (gullak) or somewhere else?
• How do you manage expenses, such as travelling to school, buying stationery, or occasionally purchasing food from the school canteen?
• Have you ever planned your spending to save for something you wanted later, like visiting your grandparents during summer break?

Our journey into managing money begins in childhood. As we grow into adulthood, we earn income and spend it in many ways to fulfil our needs and wants. We also save money and make investments to achieve goals, such as buying a house or funding higher education.

Individuals and households in today’s world have to make many decisions involving money. Money is, therefore, an important resource that should be utilised efficiently. This is where an understanding of personal finance becomes important. Personal finance refers to the planning and management of an individual’s money to meet their needs and wants. It involves making smart financial decisions, such as how much to spend, how much to save, where to invest, and how to prepare for future financial needs. For instance, if someone wants to buy a house in the next five years, they will have to plan and manage their money well to achieve this goal.

Pillars of Personal Finance

Income (Earnings)

Income is the money a person receives regularly or occasionally in return for products sold or services rendered. It is the starting point of personal finance because, without income, it is not possible to spend, save, or invest. For example:

• A teacher earns a monthly salary.
• A shopkeeper earns profits from a business.
• A person earns rent from letting out property.
• An investor earns interest from bank deposits.
• A shareholder receives dividends and interest from securities.

THINK ABOUT IT

• Have you ever thought about earning your own money? What kind of skill would you require, and which work would you choose?
• There are many ‘Earn While You Learn’ programmes that allow college students to continue their education while earning an income through part-time work, internships, or apprenticeships. This not only provides financial support but also helps them gain practical skills, work experience, and a better understanding of the real-world workplace.

Budgeting (Planning Expenses)

Budgeting means planning in advance how income will be spent. A budget is a written plan that aims to balance income and expenses. People often plan to save and make financial decisions with a specific purpose in mind to be achieved in the future. For example, a family may decide how much money to save each month or spend monthly on food, rent, school fees, transport, etc. Other examples include:

• Saving for a school trip next month.
• Buying sports equipment after six months.
• Saving for higher education in the future.
• Setting aside money for emergencies.

Setting such financial goals helps people prioritise their needs and make careful decisions regarding spending, saving, and investing. One simple way to set goals is to ask:

• What do I want to achieve?
• How much money will I need?
• By when do I want to achieve it?
• What steps can help me reach this goal?

Budgeting helps control unnecessary spending, such as excessive eating out or impulse shopping, and enables people to prioritise important expenses. It also helps people live within their means by balancing income and expenditure.

THINK ABOUT IT

Suppose you and your friends need to buy new badminton rackets for an upcoming tournament because the old ones have worn out. How would you manage your budget to cover the cost? Would you cut back on other expenses, use your savings, or borrow the amount from your parents or friends?

LET’S EXPLORE

Think of all your expenses and prepare your monthly/weekly budget using the template below

Steps in Budgeting

1. Identify your expenses: Begin by listing all your monthly expenses, both large and small. This helps you understand where your money is being spent.
2. Set a savings goal: Decide how much you want to save, what you are saving for, and by when you need to have it saved up. A clear goal makes saving easier. For example, to save ₹3,000 in six months for a new bicycle, you would need to save ₹500 each month.
3. Track your spending: Regularly compare your actual spending with your budget. This helps you identify areas where you may be overspending and make corrections if needed.
4. Review and adjust your budget: A budget should be reviewed periodically to reflect changes in income, expenses, or financial goals. For example, rising transport costs or unexpected medical expenses may require adjustments to the budget. Regular reviews keep the budget realistic and effective.

Saving

Saving means keeping aside a part of one’s income for future use and represents a financial surplus accumulated over time. Savings are important for comfortable living and because life is uncertain and emergencies can arise at any time. People also save to make future investments in assets, such as fixed deposits, stocks, mutual funds, and real estate.

THINK ABOUT IT

• What would you do if you received ₹100 today? Would you save some or all of it, or spend it right away?
• In the Grade 9 Part 1 chapter ‘Building Blocks in Economics: The Problem of Choice’, you learnt about wants and needs. Would you prefer spending the money on a want or a need?
• Financial experts often suggest saving first and spending what is left. Do you agree?
• Do you think individuals with low income can also save? Why or why not?

Investing (Growing Wealth)

Priya and Sameer both receive ₹500 as a birthday gift. Priya keeps her ₹500 in a piggy bank at home. One year later, she still has ₹500. Sameer puts his ₹500 into a savings scheme that earns 8% interest a year. One year later, he has ₹540. Both are being responsible with money, but are they doing the same thing?

Investing means putting your savings into assets with the aim of protecting their value and generating returns. It is like planting a mango tree—you do not get fruit immediately, but once you do, it continues to provide fruit for many years. While keeping savings in cash provides greater liquidity, investing helps increase wealth and protects the value of money. It also allows money to grow faster than the rate of inflation. For example, if a school bag costs ₹1,000 today, and inflation is 6% per year, the same bag may cost about ₹1,060 next year. If your money is simply kept at home and does not grow, you may not be able to buy the bag as your purchasing power will fall over time.

Do you remember the story of the king and the sage from the Grade 7 chapter ‘Banks and the Magic of Finance’? It explained the principle of compounding, where returns are earned not only on the original investment (the principal) but also on the returns already earned, thereby accumulating high returns over time. Let us understand this again with an example.

Liquidity: Refers to how quickly and easily an asset can be converted into cash or a cash equivalent without affecting its value.

Inflation: The increase in the prices of goods and services over time, which reduces the purchasing power of money. As prices rise, the same amount of money can buy fewer goods and services than before.

Purchasing power: The real-world value of money, measured by the quantity of goods and services a single unit of currency can buy. It determines your standard of living, as higher purchasing power means you get more goods and services with the same amount of money, while a decrease means you can afford less with the same amount of cash.

Compounding: The process where an investment’s earnings, such as interest or dividends, are reinvested to generate their own additional earnings over time.

Power of Early Investments

Suppose two people, Bhavisha and Dhruv, each save ₹1,000 at the end of every year and earn 7% annual interest. The only difference is that Bhavisha starts saving at the age of 25, while Dhruv begins at the age of 35. Although both save the same amount each year, since Dhruv invested much later, by the age of 65, he accumulates only about 40% as much money as Bhavisha. This happens because compounding allows earlier investments to earn returns for a longer period, and those returns continue to generate additional returns over time.

LET’S EXPLORE

• In Fig. 5.4 above, the curves are flatter in the beginning and tend to become steeper in the later years. Why do you think that happens?
• Talk to your parents and find out the fixed deposit rates of their bank. You can also refer to the bank’s website.

Common Investment Options

But where can one invest? Let us explore some common investment options.

    

Fixed Deposits (FDs)

Fixed deposits are among the most common and safest investment options offered by banks and post offices. In a fixed deposit, a person deposits a lump sum amount for a fixed period, such as one, three, or five years. During this period, the bank or post office pays a fixed rate of interest on this amount, which remains unchanged throughout the investment period. Fixed deposits offer assured returns and are suitable for people who prefer safety over high returns.

Other government-backed investment options include the Public Provident Fund (PPF) and small savings schemes, such as the National Savings Certificate (NSC) and the Sukanya Samriddhi Yojana. These schemes encourage long-term savings while providing safe and reasonable returns.

Maturity period: The duration between its issue date and the point at which the issuer repays the principal amount.

Bonds

Bonds are investments through which people lend money to the government or companies (issuers of bonds) for a fixed period. Bondholders earn regular interest. For example, if you buy a bond worth ₹10,000 that pays 5% interest per year, you will receive ₹500 as interest after one year. If the bond matures after one year, you will receive ₹10,500 in total. In reality, the maturity period ranges from 1 day to 30 years or more. You may also be able to sell the bond before maturity if you need the money earlier, making bonds more liquid. Government bonds are generally considered safer than corporate bonds and are suitable for those seeking a stable, predictable income.

Corporate bonds: Debt securities issued by companies to raise capital from investors. When you buy a corporate bond, you lend money to the company. In return, the company promises regular interest payments and to repay the initial principal amount when the bond matures.

Stocks (Equity or Shares)

Shares represent ownership in a company. When a person buys shares, they become a part-owner of that company and may earn returns through dividends as well as an increase in the share price. Investing in shares involves higher risk because share prices fluctuate due to market conditions, company performance, and broader economic changes. However, shares also have the potential to generate higher returns over the long term. They are, therefore, suitable for investors who are willing to take greater risks for higher returns and who invest keeping the long term in mind.

BSE SENSEX: The BSE SENSEX (Stock Exchange Sensitive Index) is the benchmark index of the Bombay Stock Exchange (BSE). It tracks the performance of 30 large, financially sound, and actively traded companies from different sectors of the economy and serves as an important indicator of the overall performance of the Indian stock market.

LET’S ANALYSE

Look at the graph below that displays the performance of BSE SENSEX over the years. It fluctuates over short time periods; however, it can go up significantly in the long run. Why do you think these fluctuations happen? Discuss possible reasons with your classmates and find out more from newspapers, the internet, or by speaking to your family members.

Mutual Funds

Mutual funds pool money from many investors and invest it in a basket of shares, bonds, or other financial assets. These investments are managed by professional fund managers who decide where to invest the money. If the investments perform well, investors earn returns in proportion to the amount they have invested. However, if the investments perform poorly, investors may incur losses.

Mutual funds are popular because they reduce risk by spreading investments across different types of assets, a strategy known as portfolio diversification. They are suitable for people who may not have the time, knowledge, or experience to manage investments on their own.

THINK ABOUT IT

Have you heard this disclaimer in mutual fund advertisements on the television?

“Mutual fund investments are subject to market risks. Please read all scheme-related documents carefully before investing.”

Why do you think this is included?

Protection and Risk Management

Life is full of uncertainties, such as illness, accidents, loss of income, or damage to property. These unexpected events can lead to significant financial losses. Therefore, an important aspect of personal finance is protection—safeguarding your income, savings, and assets against such risks.

Insurance

One of the most effective ways to achieve financial protection is through insurance. Insurance is a legal contract in which an individual pays a regular amount, called a premium, to an insurance company. In return, the company agrees to provide financial compensation for specific losses or expenses covered under the policy. For example, a family may pay ₹500 every month for health insurance. If a family member requires medical treatment, the insurance company covers a large part of the hospital expenses. Without insurance, the family might have to use a substantial portion of its savings for the expenses incurred towards the treatment.

Insurance works on the principle of risk sharing. Many people pay premiums into a common pool. In case of any unexpected loss, those insured receive financial support from the insurance company. Therefore, insurance provides financial security during emergencies, reduces the impact of accidents, illness, or property damage, helps families recover from financial setbacks, and encourages people to save and plan their finances through regular premium payments.

Types of Insurance

1. Health Insurance

   Health insurance helps cover medical expenses, such as hospitalisation, medicines, diagnostic tests, and treatments. It reduces the financial burden of illness or accidents and allows families to focus on recovery rather than worrying about medical costs. In India, government schemes such as Ayushman Bharat Pradhan Mantri Jan Arogya Yojana provide health insurance coverage to eligible low-income households.

2. Life Insurance

   Life insurance provides financial support to a family if the policyholder, who may be the breadwinner of the family, passes away. It helps dependents meet daily expenses, continue children’s education, and repay loans. Life insurance is an important tool for ensuring long-term financial security.

3. General Insurance

   General insurance protects against losses related to vehicles, homes, businesses, and other property. For example:

   • Motor insurance covers repair costs and damages caused by vehicle accidents.
   • Property insurance protects homes and businesses against losses caused by fire, theft, flood, earthquake, and other disasters.
   • Crop insurance protects farmers from financial losses as it covers damages caused by natural disasters, pests, and market price changes.
   • Cattle insurance protects farmers and dairy owners against financial loss in case of death or disability of their animals.

Borrowing and Credit

Sometimes, people may need to borrow money from banks, relatives, or other sources as loans. Borrowing or using credit can be helpful when it is used for productive purposes, but it can become harmful if misused. For instance, an education loan can help a student pursue higher education, whereas borrowing money to purchase unnecessary consumer goods may lead to a debt burden and financial difficulties. Thus, responsible borrowing involves taking loans only when necessary and ensuring that they can be repaid on time.

Debt: Amount of money owed to somebody.

THINK ABOUT IT

Have you ever heard your parents say, “This month’s EMI has been paid”?

An EMI (equated monthly instalment) is the fixed amount of money a person pays every month to repay a loan.

Suppose a family buys a refrigerator costing ₹30,000 but does not want to pay the entire amount at once. In such a case, they may take a loan and repay it through an EMI of ₹3,000 every month for 12 months. Each EMI includes a portion of the original loan amount (the principal) as well as the interest charged by the lender. EMIs are commonly used to purchase mobile phones, household appliances, two-wheelers, homes, and cars.

• Why might a family choose to buy something on EMI even if it costs more in the long run?
• Can having too many EMIs affect savings and emergency funds?

Risk and Return

When deciding where to invest money, it is important to consider four factors—risk, return, time horizon, and liquidity.

Risk: Refers to the chance of losing money.

Return: The profit earned from an investment.

Time horizon: The length of time for which money can remain invested.

Liquidity: How easily an asset can be converted into cash when needed.

Different investment options have different levels of these factors. For example, fixed deposits (FDs) are generally low-risk options that provide steady but relatively lower returns. Mutual funds may offer higher returns, while shares (equity) have the potential to generate the highest returns over the long term but also involve the highest level of risk.

In general, lower-risk investments tend to offer lower returns, while higher-risk investments may offer higher returns. Therefore, people should choose investments based on their financial goals, the amount of risk they are willing to take, and when they are likely to need the money.

Taxes

Taxes are compulsory payments made by individuals and businesses to the government to fund public services, such as schools, hospitals, transport, defence, and other essential facilities. There are two main types of taxes:

• Direct taxes, which are paid directly on a person’s or organisation’s income or profits, such as income tax.
• Indirect taxes, which are added to the price of goods and services, such as the Goods and Services Tax (GST).

Personal Income Tax

Personal income tax is a tax paid on the income a person earns in a year (called a financial year, say 1 April 2001 to 31 March 2002). All citizens of India with a personal income are required to pay income tax, with the sole exception of individuals who earn below a certain limit and are exempt from paying the tax. As income increases, the tax payable to the government also increases. This system is known as progressive taxation, which aims to reduce income inequality by imposing higher tax rates on individuals with higher incomes.

The underlying principle is that people with greater financial capacity can afford to contribute a larger share of their earnings towards funding public services, such as schools, hospitals, roads, and security. Paying taxes honestly and on time is an important responsibility of every citizen, as it contributes to the well-being of society and the development of the country.

India follows a slab system for calculating income tax, as shown in Table 5.1. Under this system, taxable income is divided into different ranges, called tax slabs, and each slab is taxed at a specified rate, as seen in Table 5.1. The tax slabs are proposed by the Ministry of Finance as part of the Union Budget presented to Parliament every year. The Central Board of Direct Taxes (CBDT), under the Ministry of Finance, is responsible for administering the laws relating to direct taxes in India.

Let us understand how a person’s income tax liability is calculated. Suppose Priya, a business analyst, earns ₹14 lakh per year. Firstly, her income to be taxed will be calculated as follows:

Step 1: Calculate Taxable Income

Particulars	Amount (₹)
Annual Salary	14,00,000
Standard Deduction	75,000
Taxable Income	13,25,000

Standard deduction: A fixed amount that salaried employees and pensioners can deduct from their income before calculating income tax, as allowed under the Income-tax Act, 2025.

Step 2: Apply the Tax Rate as per the Tax Slabs

Different portions of income are taxed at different rates. For Priya, the first ₹4 lakh of her income are not taxed; the next ₹4 lakh are taxed at 5%; the next ₹4 lakh are taxed at 10%, and so on, as seen in Table 5.2.

LET’S ANALYSE

• Sai’s taxable income is ₹3,80,000 in a financial year. How much income tax does he have to pay according to the above tax slabs?
• Ask your parents, a relative, or a person in your neighbourhood if they file personal income tax returns. Make a small report on the procedure to file an income tax return. You may refer to the following website: https://www.incometax.gov.in/iec/foportal/help/all-topics/e-filing-services/file-income-tax-return.

In conclusion, managing money wisely is not just about earning more—it is about making careful financial decisions at every stage, whether it involves spending, saving, investing, protecting against risks, borrowing responsibly, or paying taxes. The choices individuals make today shape their financial future and determine their ability to achieve financial stability while managing financial opportunities and challenges.

Before We Move On

• Making informed financial decisions from a young age builds financial security, independence, and confidence for the future.
• Personal finance rests on the five pillars—income, budgeting, saving, investing, and protection—to ensure financial security for individuals.
• Budgeting helps individuals plan their expenses, control unnecessary spending, and save for future needs. Saving and investing are important for building wealth, meeting goals, and protecting money from the effects of inflation.
• Different investment options involve different levels of risk and return, so investment choices should match an individual’s goals and risk tolerance.
• Insurance protects individuals and families from financial losses during contingencies.
• Income tax helps governments provide essential public services and infrastructure. Paying taxes honestly is a citizen’s responsibility and helps the government provide public services and promote national development.

Questions and Activities: Managing Your Personal Finances

1. Why is managing money wisely important for all individuals irrespective of their income?
2. How can budgeting help people balance their present needs with their future financial goals? Give examples.

School Reopening Budget Activity

3. School Reopening Budget Activity

Your parents have given you ₹3,000 to prepare for the new school year. Make a list of the items you need, find out their prices (by visiting local stores or asking a parent or teacher), and prepare a budget. Calculate the total cost and check whether it stays within ₹3,000.

• If your total is less than ₹3,000, you may add one additional item of your choice.
• If your total exceeds ₹3,000, decide which item(s) you can postpone or avoid buying to stay within your budget.

Use the budget template provided and ensure that all expenses are accurately calculated.

4. Why is saving alone often not enough to build wealth in the long run? How do investments help increase the value of money over time?

Investment Planning Activity

5. Investment Planning Activity

Suppose you received cash gifts worth ₹3,000 on your last birthday and decided to save ₹1,500. With the help of your teacher, calculate the returns you might have earned if you had invested this amount in different combinations of investments.

For example, what returns would you have received if you had invested ₹500 in a fixed deposit, ₹800 in the stock market, and ₹200 in gold? Try other combinations and find information on the returns from different investment options using reliable sources, such as newspapers, magazines, or official websites. Based on your findings, prepare an investment plan explaining why you think each investment option is suitable or unsuitable.

6. How does inflation affect the value of money over time? Why should people consider inflation while making financial decisions?
7. Different investment options involve different levels of risk and return. Do you think taking higher risks is always the best way to earn higher returns? How should a person decide which investment option is most suitable for them?
8. Why do people buy insurance policies even though they may never face a major loss? How does insurance provide financial security?
9. Imagine your family receives ₹1,00,000 from farming, a small business, livestock sales, and savings. Help your family decide how to use the money wisely.

Family Budget and Savings Activity

Step 1: Prepare a Budget

Allocate the ₹1,00,000 among the following categories:

Step 2: Needs vs Wants

Classify each expense as a need or a want and give a reason. Examples:

• School fees
• New mobile phone
• Better seeds or livestock feed
• Festival celebrations
• Water storage tank

Step 3: Save for the Future

Suppose your family saves ₹30,000 at 8% compound interest per year.

Using the formula A = P(1 + r)ⁿ, where A: Amount, P: Principal, r: Rate of compound interest, n: Number of years, calculate:

1. The amount after 5 years.
2. The interest earned.

Step 4: Save First, Spend Later

Many financial experts recommend:

Expenses = Income – Savings

If your family receives ₹1,00,000 and saves ₹20,000 first, only ₹80,000 is available for spending. This helps ensure that future needs and emergencies can be met.

Step 5: Reflect

1. What percentage of the money did you save?
2. Which expenses were needs and which were wants?
3. How can savings improve a family’s financial security?
4. How does compound interest help money grow?

Challenge: Create a pie chart showing how the ₹1,00,000 was allocated across different categories.

The End

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A List of Book Part 1 Notes:

Chapter 1  |  Chapter 2  |  Chapter 3  |  Chapter 4 (Coming Soon)  |  Chapter 5 (Coming Soon)  |  Chapter 6 (Coming Soon)  |  Chapter 7 (Coming Soon)  |  Chapter 8  |  Chapter 9 (Coming Soon)  |  Chapter 10 (Coming Soon)  |  Chapter 11 (Coming Soon)  |  Chapter 12 (Coming Soon)

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A List of Book Part 2 Notes:

Chapter 1  |  Chapter 2 (Coming Soon)  |  Chapter 3 (Coming Soon)  |  Chapter 4 (Coming Soon)  |  Chapter 5 |  Chapter 6 (Coming Soon)  |  Chapter 7 (Coming Soon)  |  Chapter 8 (Coming Soon)  |  Chapter 9 (Coming Soon)  |  Chapter 10 (Coming Soon)  |  Chapter 11 (Coming Soon)  |  Chapter 12 (Coming Soon)

Class 12 Business Studies Sample Paper 11 with Solutions (MCQs, Case-Based & Descriptive Questions)

Free CBSE Class 12 Business Studies Sample Paper (Solved)

Imagine buying a pair of headphones online: you compare brands, check product labels, read reviews, and decide whether the price is worth it. Without realising it, you are already using ideas from Class 12 Business Studies!

Our free CBSE Class 12 Business Studies sample paper turns everyday business decisions into board exam practice.

On this page, you can begin practising 34 questions covering the following Class 12 BST chapters:

• Principles of Management
• Business Environment
• Planning
• Organising
• Staffing
• Directing
• Controlling
• Financial management
• Financial markets
• Marketing Management
• Consumer Protection

Type of questions in the below sample paper/worksheet:

• Multiple-choice questions (MCQs)
• Assertion–reason questions
• Case-based questions
• Descriptive questions

Before you proceed further, below are the quick details:

• Class: 12
• Subject: Business Studies
• Sample Paper Number: 11
• Time Allowed: 3 Hours
• Maximum Marks: 80
• Sample Paper Status (Solved/Unsolved): Solved

Table of Contents

Questions

Answers

The worksheet begins from here.

Questions

General instructions:

• This question paper contains 34 questions.
• Answers to the questions carrying 3 marks may be from 50 to 75 words.
• Answers to the questions carrying 4 marks may be about 150 words.
• Answers to the questions carrying 6 marks may be about 200 words.
• Attempt all parts of the questions together.

Q1. The health and fitness trend has become popular among a large number of urban people. This has created a demand for products like organic food, diet soft drinks, gyms, food supplements, etc. Identify the dimension of business environment being reflected here.

1. Social environment
2. Political environment
3. Technological environment
4. Economic environment

Q2. A manager believes in making the job more challenging for the employees by giving them higher targets that need the use of a variety of skills and providing more autonomy to achieve them. The incentive given by the manager is:

1. Status
2. Organisational climate
3. Job enrichment
4. Employee empowerment

Q3. 'Caveat Venditor' implies:

1. Let the buyers beware
2. Consumer is king
3. Seller is supreme
4. Let the seller beware

Q4. A consumer buys a new refrigerator and pays the full price for it. Later, he discovers that its compressor is second-hand. He approaches the dealer, but the dealer does not listen to him. Which right of the consumer has been violated by the dealer here?

1. Right to be heard
2. Right to seek redressal
3. Right to safety
4. Right to education

Q5. The dispersal of decision-making authority among all the levels of an organisation is:

1. Decentralisation of authority
2. Delegation of authority
3. Scalar Chain
4. Authority and Responsibility

Q6. For the following two statements, choose the correct option:

Statement I: Formal communication follows the officially established line of command and communication.

Statement II: Informal communication carries the message at a faster pace.

Choose the correct option from the options given below:

1. Statement I is true and II is false
2. Statement II is true and I is false
3. Both the statements are true
4. Both the statements are false

Q7. Which function of management is closely related to the planning function of management?

1. Controlling
2. Staffing
3. Directing
4. Organising

Q8. What is the other name of a long-term investment decision?

1. Capital budgeting
2. Gross working capital
3. Financial management
4. Working capital

Q9. Read the following statements—Assertion (A) and Reason (R)—and choose one of the correct alternatives given below:

Assertion (A): Planning bridges the gap from where we are to where we want to go.

Reason (R): It involves setting objectives and developing appropriate courses of action to achieve these objectives.

Alternatives:

1. Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
2. Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
3. Assertion (A) is true, but Reason (R) is false.
4. Assertion (A) is false, but Reason (R) is true.

Q10. Manufacturers send goods to retailers in corrugated boxes containing many units. This is:

1. Primary packaging
2. Secondary packaging
3. Transportation packaging
4. None of these

Q11. __________ is the process of synchronisation of different activities of an organisation.

1. Coordination
2. Departmentalisation
3. Organisational structure
4. Management

Q12. Motivation is a complex process because __________.

1. it can be either positive or negative.
2. it produces goal-directed behaviour.
3. it may not have a uniform effect on all the members.
4. it is an internal feeling.

Q13. Which marketing philosophy focuses on the existing product rather than on the quality and quantity of the product or customer need?

1. Production concept
2. Product concept
3. Selling concept
4. Marketing concept

Q14. Violation of which of the following principles increases the recruitment, selection and training costs of employees?

1. Initiative
2. Unity of Command
3. Esprit de Corps
4. Stability of Personnel

Q15. PQ Ltd. provided an incentive scheme to its employees. The employees are offered the company's shares at a set price which is lower than the market price. This incentive is:

1. Retirement benefit
2. Co-partnership/Stock option
3. Productivity-linked wage incentives
4. Perquisites

Q16. Which of the following is not a feature of planning?

1. Planning is a mental exercise.
2. Planning is continuous and pervasive.
3. Planning is the primary function of management.
4. Planning involves huge cost and time.

Q17. Identify the type of organisation structure adopted by a company which leads to occupational specialisation, minimal duplication of efforts, results in economies of scale and lowers the cost.

1. Functional structure
2. Divisional Structure
3. Formal organisation
4. Informal organisation

Q18. All trading in securities is now done through computer terminals instead of the open outcry system. This is:

1. Dematerialisation of securities
2. Demutualisation of stock exchange
3. Electronic trading system
4. None of these

Q19. Which of the following is not an advantage of branding to the customers?

1. Ensures quality
2. Product identification
3. Status symbol
4. Facilitates use of product

Q20. Standards should be set in __________ terms for effective controlling.

1. Qualitative
2. Quantitative
3. Both (a) and (b)
4. Neither (a) nor (b)

Q21. Mrs. Chhatwal is working as a Human Resource Consultant in a firm manufacturing garments, which is facing a problem of high employee turnover. The Managing Director has invited suggestions from her for retaining the talented employees. Mrs. Chhatwal recommends that the good employees be rewarded in a way that creates a feeling of ownership amongst the employees and, at the same time, makes them contribute towards the growth of the organisation.

1. Identify the incentive which has been suggested by Mrs. Chhatwal to the Managing Director of the Company.
2. Also, explain any two other incentives of the same type.

Or

Which needs of the employees, as per Maslow's Need Hierarchy theory, will be satisfied by the following incentives?

1. Providing them with a safe working environment
2. Encouraging the use of informal organisation structure
3. Delegating them the authority

Q22. 'How well one delegates determines how well he manages.' In the light of this statement, explain any three points of importance of delegation.

Q23. Dee Industries is facing a lot of opposition as it pays lower salaries to female workers compared to male workers for equal work. Which dimension of business environment is being referred to? Discuss.

Or

Name and explain the technique of Taylor which is the strongest motivator for a worker to reach standard performance.

Q24. State any three protective functions of the Securities and Exchange Board of India.

Q25. Capital Structure decisions are essentially the optimisation of the risk-return relationship. Discuss. Explain any three factors affecting the choice of capital structure.

Or

Discuss any four factors affecting the working capital requirements of a business firm.

Q26. Ayasha Ltd. assured its employees that, in spite of the recession, no worker would be retrenched from the job.

1. Name and explain the type of incentive offered to the employees.
2. Explain one more incentive of the same category.

Q27. Read the statements given in points 1 and 2 and answer the questions that follow.

1. An import-export company was able to track dishonest employees by using computer monitoring as a part of its control system.

   1. Identify the importance of controlling so that the best of plans cannot go awry.
   2. How does a good control system motivate employees and help them to give better performance?

2. In large organisations, certain pieces are checked at random for quality.

   1. Name the technique adopted by large organisations for measurement of performance in an objective and reliable manner.
   2. When can the comparison of performance be made easier?

Q28. In an organisation, the production department blames the marketing department, and the marketing department blames the production department for the non-achievement of the organisational goals. They are neither ready to listen to each other nor bring any changes in their workings to help each other.

This force is a vital element of one principle of management given by Fayol and one principle of Scientific Management given by Taylor. Identify these principles and explain them.

Q29. A company needed to appoint an accountant. For this, it had received 40 applications. Out of these, 15 were not eligible as per the requirements, so the company rejected their applications outright. To ensure that everybody gets a chance to prove their worth, they conducted an intelligence test and a trade test. It was followed by a round of face-to-face conversation between the shortlisted candidate and the Finance Manager.

1. Identify the process being followed above.
2. State, by quoting the lines, the stages of the above process followed.

Or

BG Handicrafts has been doing good business for the last five years. Ankit, the manager, reported a decline in the number of orders received in the year. He ordered that the progress of all activities in the organisation be tracked to bring to light the deviations and to initiate the corrective action required.

Explain the steps involved in the function Ankit is performing here.

Q30. The Consumer Protection Act, 2019 seeks to protect and promote the interests of consumers. The Act provides for six rights to consumers with a view to empowering them. But consumer protection can be achieved only when consumers understand and fulfil their responsibilities. State such responsibilities of a consumer.

Q31. A company earned a profit of ₹20 lacs during the year-end. It had some expansion plans in the near future; therefore, it decided to retain the profits. At the same time, it did not want to disappoint its investors. It, therefore, decided to capitalise its reserves and issue bonus shares to them.

1. Which financial decision is being referred to?
2. Discuss the factors affecting it.

Or

The capital market has an institutional arrangement to facilitate buying and selling of existing securities. It helps existing investors to disinvest and fresh investors to enter the market. Explain the functions of such an institutional arrangement.

Q32. Aryan Industries manufactures plastic goods. It has plans to enter the international market. For this, it has hired the services of professionals who are going to help it in planning by collecting facts and figures, conducting surveys, etc. The professionals studied the demand pattern of people in some countries, their occupations and the literacy rate. They also tried to study the Export Import (EXIM) Policy of not only our country but also other countries so as to estimate its possible impact on the company's future plans. A lot of money was spent on all this, and the management feared that the costs might exceed the gains. Finally, a comprehensive plan stating the objectives, budget involved, policies and procedures to be followed was laid down.

1. Which step of planning has been performed by the professionals? Explain it and give the next two steps of planning.
2. Which limitation of planning is being referred to? Explain by quoting the relevant line.

Or

Shweta works as a corporate event coordinator in an event management company. She has been made the overall official in charge of organising a painting exhibition for one of the clients of the company. For ensuring that the exhibition takes place successfully, she identifies the various activities involved and divides the whole work into various task groups like marketing committee, decoration committee and reception committee. In order to facilitate coordination within and among committees, she appoints a supervisor for each group. Each member in the group is asked to report to their respective supervisors, and all the supervisors are expected to work as per Shweta's orders.

1. Identify and explain the function of management being performed by Shweta.
2. Explain the steps involved in the performance of the function of management as identified in part (a).

Q33. Mr. Sunil, the Marketing Manager of Zebra Ltd., had to take a few important decisions related to the sale of the product. These decisions were of utmost importance as they would not only facilitate the customers in product identification, usage and differentiation but would also help the company in providing the relevant information to the consumer.

1. Identify and explain the element of the marketing mix being referred to here.
2. State and discuss its components.

Q34.

1. Explain any two principles of scientific management from the following:
   1. Harmony, not discord
   2. Science, not rule of thumb
   3. Development of each and every person to his or her greatest efficiency and prosperity
2. Distinguish between 'Centralisation' and 'Decentralisation' principles of management.

Answers

Q1. (a) Social environment

Q2. (c) Job enrichment

Q3. (d) Let the seller beware

Q4. (a) Right to be heard

Q5. (a) Decentralisation of authority

Q6. (c) Both the statements are true

Q7. (a) Controlling

Q8. (a) Capital budgeting

Q9. (a) Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).

Q10. (c) Transportation packaging

Q11. (a) Coordination

Q12. (c) It may not have a uniform effect on all the members.

Q13. (c) Selling concept

Q14. (d) Stability of Personnel

Q15. (b) Co-partnership/Stock Option

Q16. (d) Planning involves huge cost and time.

Q17. (a) Functional structure

Q18. (c) Electronic trading system

Q19. (d) Facilitates use of product

Q20. (c) Both (a) and (b)

Q21.

1. Mrs. Chhatwal suggested Financial Incentive (Stock option/Co-partnership).
2. The two other incentives of the same type are:
   1. Pay and allowances: Salary is the topmost priority/incentive for work to any employee in the organisation. If the performance of an employee improves each year, then he may be rewarded by a hike in salary and other allowances.
   2. Bonus: It is a reward that is offered on a one-time basis for high performance. A bonus may be in cash or in some other form, e.g., many sales organisations periodically offer prizes, such as trips, for their top salespeople.
   3. Profit sharing: It is often discussed that labour, being the live factor in production, is entitled to share in the surplus earned by his firm. Employers often use this device to exhort their loyalty and reduce the influence of trade unions. This provides a group incentive to the workers for higher productivity and greater profitability.

   (Any two)

Or

1. Safety Needs
2. Affiliation Needs
3. Esteem Needs

Q22. The importance of delegation of authority may be outlined as follows:

1. Reduces workload of managers: Delegation of authority permits a manager to share his workload with his subordinates. By passing on some of his own work to the subordinates, the manager is able to concentrate on more important aspects of his work. Delegation of authority takes place at all levels of management in a systematic manner.
2. Basis of superior-subordinate relations: In the delegation process, only superiors and subordinates are involved. If superiors share or pass on their responsibilities and authorities to their subordinates, it indicates a good relationship between superiors and subordinates because superiors will transfer their responsibilities and authorities only when they have trust in their subordinates.
3. Effective management/Improves managerial effectiveness: The manager who delegates authority can perform much more than the one who does not. This is because the manager who delegates can get some work done by his subordinates and is able to concentrate on important matters which need his attention, take appropriate decisions and act accordingly. The manager increases his own effectiveness and that of his work unit by enlisting the co-operation and skills of his subordinates.

Q23. Social Environment is being referred to in the given situation. It refers to the attitudes, beliefs, expectations, customs and values of society at a given point in time. The expectations of society from the business impact its working and policies. The attitude of people towards the products and services offered by the business can decide its future. The composition and rate of population growth and the type of family structure are also parts of it. All business concerns need to study it in detail to be successful.

Or

Differential piece wage system is the strongest motivator for a worker to reach standard performance. It is a method of wage payment in which efficient and inefficient workers are paid at different rates. The efficient workers are paid at a higher rate than the inefficient ones. Workers are paid on the basis of the number of pieces produced. If a worker produces more than a certain number of pieces, he is given a higher wage per piece on his total output. But if his output is below the number, he is given a lower rate per piece. Due to different rates for different sets of workers, it is known as the differential piece rate plan.

Q24. The three protective functions of the Securities and Exchange Board of India are:

1. It prohibits fraudulent and unfair trade practices like price rigging and manipulation in the securities market.
2. It prohibits insider trading and imposes penalties for such practices.
3. It undertakes steps for the protection of investors.
4. It promotes fair practices and a code of conduct in the securities market.

(Any three)

Q25. Capital Structure decision is concerned with deciding the right or optimal mix of debt and equity in order to fulfil the financial requirements of a company. Increased use of debt increases the financial risk, but at the same time, it leads to an increase in the earnings per share of the shareholders. Equity does not involve any risk, but it is a costly way of financing. Thus, the capital structure decision is basically concerned with deciding that proportion of debt and equity where the risk is minimum and the returns are maximum.

Following are the factors affecting the choice of capital structure:

1. Cash flow position: A company must have enough cash in hand or liquidity if it has to raise capital through debentures to pay interest in time. If cash inflows are not enough, then it should issue shares.
2. Cost of debt: A firm's ability to borrow at a lower rate increases its capacity to employ higher debt. Thus, more debt can be used if debt can be raised at a lower rate.
3. Control: To retain control over the management of the company, debentures and preference shares should be issued to raise capital.

Or

The factors affecting the working capital requirement of a business firm are:

1. Nature of business: A trading business requires less working capital than a manufacturing concern. This is because no processing work is there in a trading concern. Similarly, service industries do not maintain inventory and, thus, the requirement of working capital is low.
2. Scale of operations: An organisation operating on a higher scale requires a large amount of working capital as compared to one operating on a lower scale.
3. Business cycle: In the boom period, sales and production are high and, thus, working capital is more. On the other hand, at the time of depression, sales as well as production will be small and hence the working capital requirement will be lesser.
4. Production cycle: It is the time span between the receipt of raw material and its conversion into finished goods. Working capital requirement will be higher in firms with longer processing cycles and lower in those with shorter processing cycles.
5. Credit allowed/Credit availed: In case a liberal credit policy is there, the business may require more working capital and vice versa.

(Any four)

Q26.

1. Ayasha Ltd. offered the non-financial incentive of job security to its employees. This incentive provides stability to the workers about the future and enables them to work with full zeal and without any worry.
2. Another non-financial incentive can be 'Employee participation'. It means involving the employees in the decision-making process. They should have their say when decisions which affect them are taken.

(Or any other relevant point)

Q27.

1. 1. Ensuring order and discipline
   2. Improving employee motivation: A good control system ensures that employees know well in advance what they are expected to do and what the standards of performance are on the basis of which they will be appraised.
2. 1. Sample Checking
   2. Performance should be measured in the same units in which standards are set, as this would make their comparison easier.

Q28. Esprit de Corps by Henry Fayol: This principle is based on teamwork and unity. It states that the spirit of loyalty and devotion unites the members of the group. Team spirit helps in developing an atmosphere of mutual trust and understanding. It will also minimise the need for using penalties.

Cooperation, not Individualism by FW Taylor: It lays stress on mutual cooperation between workers and management in order to achieve organisational goals. He stressed replacing competition with cooperation. There should be equal division of work and responsibility between workers and management.

Q29.

1. Selection
2. The steps followed are as follows:
   1. Preliminary screening: 'For this, it had received 40 applications. Out of these, 15 were not eligible as per the requirements, so the company rejected their forms outright.'
   2. Selection tests: 'To ensure that everybody gets a chance to prove their worth, they conducted an intelligence test and trade test.'
   3. Employment interview: 'It was followed by a round of face-to-face conversation between the shortlisted candidate and the Finance Manager.'

Or

The process of controlling includes the following steps:

1. Setting performance standards: Standards are the benchmarks which every organisation strives to achieve. These should be set in quantitative terms to make their comparison with actual performance easier.
2. Measurement of actual performance: The actual performance is measured in an objective and reliable manner. The superior prepares the performance report of an employee. This can be done by personal observation, sample checking, accounting ratios, etc. As far as possible, performance should be measured in the same units in which standards are set.
3. Comparison of actual performance with standards: Comparison of actual performance with standard performance will reveal the deviation between the two.
4. Analysing deviations: Some amount of deviation can be expected in all activities; therefore, it is important to determine the acceptable range of deviations. Two important concepts worth discussing here are:
   1. Critical point control: The key result areas are those areas which are critical to the success of an organisation. The deviations in these areas should be dealt with urgently.
   2. Management by exception: An effort to control everything may end up in controlling nothing. Only significant deviations that go beyond the permissible limits should be brought to the notice of management.
5. Taking corrective action: Corrective action might involve revising standards, training employees, employing more workers, purchasing new machinery, etc., if the deviations go beyond the acceptable limits.

Q30. The various responsibilities of a consumer are:

1. Must exercise his/her rights: Consumers must be aware of their own rights with regard to the products or services they buy from the markets and should exercise them whenever required.
2. Be an aware consumer: The consumer must be cautious before purchasing any good or service. He must insist on getting full information on the quality, quantity, utility, price, etc., of the good or service. This will ensure a better purchase.
3. Filing complaints: Sometimes, consumers ignore the loss incurred, believing that the loss is small, but this attitude encourages corrupt business practices to continue. So, a consumer should file complaints for the redressal of genuine grievances.
4. Quality conscious: A consumer must be quality conscious. He should look for quality certification marks like ISI, Agmark, FPO, Woolmark, etc., while making purchases.
5. Insist on cash memo: A consumer must ask for a cash memo from the shopkeeper because if there is any defect in the goods purchased and the consumer has to make a complaint, the cash memo must be there as proof of purchase. A seller is always bound to give a cash memo.
6. Advertisements often exaggerate: Consumers should compare the uses of the product given in the advertisement copy and the actual product. Any discrepancy should be brought to the notice of the sponsor of the advertisement.

(Any four)

Q31.

1. Dividend decision
2. The factors affecting the dividend decision are as follows:
   1. Preferences of shareholders: Some shareholders invest their savings in shares in the hope of getting a regular income and, as such, are interested in a stable and regular dividend. The management may follow a policy which serves the purpose of the majority group.
   2. Earnings: The amount of dividend to be paid to shareholders depends on the earnings of the company. The higher the earnings, the more would be the amount of dividend.
   3. Stability of earnings: If unstable earnings are there, a lower dividend will be declared, and if stable earnings are there, the company will declare higher dividends.
   4. Cash flow position: If a company is having a sound cash flow position, then it can pay a higher amount of dividend. In case of a shortage of cash, the company can satisfy the shareholders by giving them a dividend in non-cash form, i.e., issuing bonus shares.
   5. Taxation policy: The dividend is tax-free in the hands of the investors, but the companies need to pay the dividend tax on the amount of dividend paid. If tax rates on dividends are lower, then higher rates of dividends can be declared by the company and vice versa.

Or

Such an institutional arrangement is a stock exchange. Following are the functions of a stock exchange:

1. Provides liquidity and marketability to existing securities: The main function of a stock exchange is to provide a ready and continuous market for the sale and purchase of securities. The presence of a continuous market is an assurance to investors that their investments can be converted into cash as and when required by them. This provides both liquidity and marketability to already existing securities.
2. Pricing of securities: The prices of shares on a stock exchange are determined by the forces of demand and supply. The valuation of securities is useful for investors, government and creditors. Such a valuation provides instant information to both buyers and sellers in the market.
3. Safety of transactions: Stock exchanges are subject to severe rules and regulations. Companies whose securities are traded here have to undergo strict scrutiny before they are permitted to transact dealings. This ensures that the investing public gets a safe and fair deal in the market.
4. Contributes to economic growth: A stock exchange is a market in which existing securities are resold and traded. Through this process of disinvestment and reinvestment, savings get channelised into their most productive avenues. This leads to capital formation and economic growth.
5. Spreading of equity cult: The stock exchange plays a vital role in ensuring wider share ownership by regulating new issues, better trading practices and taking effective steps in educating the public about investments.
6. Providing scope for speculation: Healthy speculation is undertaken within the provisions of law, which is considered necessary for liquidity and price continuity.

Q32.

1. Planning Premises is the step of Planning performed by the professionals. Planning premises are the anticipated future conditions in which a plan will be executed. Therefore, planning premises form the base upon which the plan is based. If planning premises go wrong, then the entire plan will fail.

   The next two steps in the process of planning are:

   1. Identifying alternative courses of action: The next step is finding out the alternative courses of action to achieve objectives. Many innovative ideas and suggestions are considered in this step, and alternatives are generated through a discussion with the members of the organisation.
   2. Evaluating alternative courses: Planning requires that each alternative should be evaluated, taking into account the relevant facts and the pros and cons of each alternative. The merits and demerits as well as the consequences of each alternative course of action must be examined before a choice is made.

2. Planning is a costly affair: "A lot of money was spent on all this, and the management feared that the costs may exceed the gains."

   Planning involves spending a lot of money on hiring professionals, conducting surveys, processing the information, etc. This makes it a costly affair, and it becomes a useless exercise if the benefits from it are not much in terms of the money spent on it.

Or

1. Shweta performed the function of Organising in management. Organising as a process deals with initiating the implementation of plans by clarifying jobs and working relationships and effectively deploying resources for the attainment of set objectives.
2. The steps involved in the process of organising are:
   1. Identification and division of work: Organising starts with identifying the work as per the plans and dividing it into manageable activities, ensuring that duplication of work is avoided and the burden of work is properly shared among the employees.
   2. Departmentalisation: Once the work has been divided into small and manageable activities, similar activities are grouped together into departments. This process of departmentalisation can be done on the basis of area, products or any other suitable base.
   3. Assignment of duties: After defining the work of different job positions, work is allocated to various employees in accordance with their skills and competencies. Effective performance can be achieved through a proper match between the nature of a job and the ability of an individual.
   4. Establishing reporting relationships: After assigning the work, the accountability relationship is made clear. This helps to create a hierarchical structure and helps in better coordination among various departments.

Q33.

1. The element of the marketing mix being referred to is Product Mix. It includes the goods/services or anything of value offered to the market for sale. It involves decisions regarding its features, quality, packaging, labelling and branding of the products. It also includes extended products, after-sales services, grievance handling, availability of spare parts, etc.
2. The components of the product mix are as follows:
   1. Packaging: Packing is the act of designing and producing the package for a product. A package is a wrapper or container in which a product is enclosed. Packaging reduces the risk of spoilage, breakage, etc., in the process of storage and transportation of goods.
   2. Labelling: Labelling means putting identification marks on the package. It helps to provide detailed information related to the product, like date of manufacture, expiry, price, weight or any other information as required by law.
   3. Branding: It is the process of giving a name or symbol to a product in order to identify it and differentiate it from competitors. It gives an identity to the product that is unique from its generic name.

Q34.

1. 1. Harmony, not discord: In an organisation, there may exist a class conflict between management and workers. Taylor recognised that this conflict helped none, neither the workers nor the management. He emphasised complete harmony between management and workers. They both should realise the importance of one another. There should be a complete mental revolution on the part of management and workers. Management should share the gains with the workers, and workers should work hard and be willing to embrace change for the good of the company. They should understand that the true interests of the two are one and the same, and the prosperity of one should be accompanied by the prosperity of the other.
   2. Science, not rule of thumb: Through this principle, Taylor insists that every job in the organisation should be based on scientific inquiry. He opposed the use of intuition, rule of thumb and trial-and-error methods in management. Taylor believed that there is only one best method to maximise efficiency, which can be developed through scientific study and analysis. Scientific methods involve investigation of traditional methods through work study, unifying the best practices and developing a standard method, which would be followed throughout the organisation.
   3. Development of each and every person to his or her greatest efficiency and prosperity: Workers' development is very important for building and sustaining efficiency in an organisation. Taylor advocated that the workers should be trained to learn the best method of doing work, which can be developed only through scientific analysis. Further, each person in an organisation should be scientifically selected, and the work should be assigned to him according to his/her physical, mental and intellectual capabilities. Efficient employees would produce more and more, and this will ensure the greatest efficiency and prosperity for both the organisation and the workers.

   (Any two)

2. • The concentration of decision-making authority by top management is called centralisation, and the dispersal of decision-making authority among the lower levels of management is known as decentralisation.
   • There should be a proper balance between centralisation and decentralisation of authority.
   • Various factors should be considered by the management while deciding the extent of centralisation and decentralisation.
   • For example, decisions in respect of determining the objectives and policies, expansion of business, etc., should remain in the hands of the superior. On the other hand, authority for the purchase of raw material, recruitment of workers, etc., should be delegated to the level dealing with it.

The End

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