
Arrange the first five steps involved in the staffing process in sequence.
(A) Recruitment
(B) Training and development
(C) Placement and Orientation
(D) Estimating the manpower requirements
(E) Selection
Aryan and Adya were partners in a firm sharing profits and losses in the ratio of 3 : 1. Their Balance Sheet on 31st March, 2024 was as follows :
Balance Sheet (Before Dev's Admission)
| Liabilities | Amount (₹) | Assets | Amount (₹) |
|---|---|---|---|
| Capital: Aryan | 3,20,000 | Machinery | 3,90,000 |
| Capital: Adya | 2,40,000 | Furniture | 80,000 |
| Workmen’s Compensation Reserve | 20,000 | Debtors | 90,000 |
| Bank Loan | 60,000 | Less: Provision for Doubtful Debts | (1,000) |
| Creditors | 48,000 | Net Debtors | 89,000 |
| Stock | 77,000 | ||
| Cash | 32,000 | ||
| Profit and Loss A/c | 20,000 | ||
| Total | ₹6,88,000 | Total | ₹6,88,000 |
(a) (i) Import substitution policy, if not applied carefully, can be a double-edged sword for any economy. Do you agree with the given statement? Justify your answer with valid arguments.
(ii) State how multilateral trade is different from bilateral trade.
OR
(b)
(i) Discuss briefly, causes and consequences of the tax reforms initiated during economic reforms in India.
(ii) Give one example each of a Navratna and a Maharatna company in the public sector in India.