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16, , FOUNDATION EXAMINATION: MAY, 2019, SECTION - B: BUSINESS CORRESPONDENCE AND REPORTING, , Chapter-1, Communication, (1) List at least 5 barriers of communication. Explain any two of them in your own words., (2) Differentiate between the Vertical Network and the Wheel and spoke method of, communication., Chapter 2, Sentence Types: Active Passive Voice, Direct Indirect Speech, (A) Change the following sentences into passive voice., (1) Rana Pratap fought many battles., (2) People watch football matches late night., (3) The students approached the Principal for their rights., (4) Give first priority to studies., (5) Abhishek speaks a lot on politics., (B) Change the following Direct speech into Indirect speech., (1) She said, ‘My mother cooks well’, (2) The athlete said, ‘I can break old records’, (3) Brother said, ‘I have finished my studies’, (4) The teacher praised the girl, ‘You have been working hard’, (5) Uncle said, ‘I am unwell’, (C) Change the following to Active voice, (1) Results had to be declared by the school authorities., (2) The test must be completed by you in one hour., (3) The factory was destroyed by fire., (4) Cake is being eaten by Rajat., (5) A conservative lifestyle was led by women in olden days., Chapter -3 Vocabulary, (A) Select the suitable synonym for the given words:, (1) Distort, (a) Save (b) Abundant (c) Deform (d) Overwhelm (e) Move, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 17, (2) Alliance, (a) Associate (b) Estranged (c) Revert (d) Unwillingness (e) Possibility, (3) Contingency, (a) Existence (b) Evidence (c) Rebel (d) Emergency (e) Announce, (4) Rife, (a) Unknown(b) Widespread (c) Accountable (d) General (e) Survive, (5) Oppressive, (a) Grand (b) Publish (c) Tolerance (d) Proactive (e) Distressful, (B) Select the suitable antonym for the given word:, (1) Contend, (a) Compete (b) Eradicate (c) Expel (d) Give up, (2) Proximity, (a) Approximation (b) Assumingly (c) Remoteness (d) Cure, (3) Vigilant, (a) Inattentive (b) Curious (c) Concerned (d) Careful, (4) Proficient, (a) Probable (b) Incompetent (c) Skilled (d) Available, (5) Adhere, (a) Rules (b) Stick (c) Disobey (d) Linked, (C) Select the correct meaning of the given idioms:, (1) Clouds on the horizon, (a) A ray of hope, (b) Hopelessness, (c) A problem can be seen in future, (d) Problems are unlimited, (2) Well begun is half done, (a) Good start is important, (b) Good ending is important, (c) Half job is easier, (d) Easier said than done, , © The Institute of Chartered Accountants of India

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18, , FOUNDATION EXAMINATION: MAY, 2019, (3) Save for the rainy day, (a) Use an umbrella, (b) Prevention is better than cure, (c) Life is full of problems, (d) Save for difficult times, (4) It’s piece of cake, (a) Something too sweet, (b) Easy job, (c) A small bite, (d) Little to eat, , (D) Fill in the blanks with the most suitable choice:, (1) With the economy going down, people who are rich might become _____________, (a) Endemic, , (b), , Healthy, , (c), , Destitute, , (d), , Considerable, , (2) Religion teaches us to respect all ____________________ rights of a human being., (a) Business, , (b), , Fundamental, , (c), , Behavioural, , Frightened, , (c), , Fearful, , (d), , Conceptual, , (3) She is _____ of lizards., (a) Afraid, , (b), , (d) Terrified, , (4) This area suffers from __________., (a) draughts, , (b), , drafts, , (c), , dwarfs, , (d), , droughts, , Chapter 4, Comprehension Passages, Read the following comprehension passages and answer the following questions, Passage 1, The great Acharyas have said that having discovered a great goal, surrender yourself to that, goal and act towards it drawing your inspiration from that goal whereby you will get a new, column of energy. Do not allow this energy to be dissipated in the futile memories of past, regrets or failures nor in the imagined sorrow of the future or the present and thus bring the, entire energy focussed into activity. That is the highest creative action in the world outside., Thereby the individual who is till now considered most inefficient finds his way to the highest, achievement and success., This is said very easily in a second. But in order to train our mind to this attitude it, needs considerable training because we have already trained the mind wrongly to such an, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 19, extent that we have become perfect in imperfection. Not knowing the art of action, we have, been master artists in doing the wrong thing. The totality of activity will bring the country to a, wrong end indeed., If each one is given a car, to achieve an ideal socialistic pattern, and nobody knows driving, but everybody starts driving, what would be the condition on the road ? Everybody has equal, right on the public road. Then each car must necessarily dash against the other, and there is, bound to be a jumble. This seems to be the very apt pattern of life that we are heading to., Everyone of us is a vehicle. We know how to go forward. The point is that intellect is very, powerful and everyone is driving but nobody seems to know how to control the mental energy, and direct it properly or guide it to a proper destination., (1) Which of the following will cause the country to perish?, (a) Driving cars without proper driving knowledge and skill, (b) Directing mental energy to the right destination, (c) Wrong deeds performed without proper knowledge, (d) Memories of past regrets and failures, (2) What is the effect of the wrong training of the mind ?, (a) The art of action is too much emphasised., (b) We have become perfect in all aspects., (c) Each of us could become a master artist., (d) We have become perfect in imperfections., (3) The author’s chief concern is, (a) The car accidents resulting from lack of driving skill., (b) Regulation of energy in a proper direction, (c) Discovery of a great goal in life, (d) Establishment of socialistic pattern, (4) Which of the following is the source of energy ?, (a) Stimulation obtained from a set aim, (b) Highest creative action, (c) A column that supports a building, (d) Proper training of the mind to achieve perfection, (5) Which of the following could lead to success ?, (a) Preparing oneself to face the probable sorrows of the future, (b) Cherishing the memories of the past, , © The Institute of Chartered Accountants of India

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20, , FOUNDATION EXAMINATION: MAY, 2019, (c) Bringing all the energy into activity, (d) Being alert about the excitement of present, , Passage 2, Marie Curie was one of the most accomplished scientists in history. Together with her, husband, Pierre, she discovered radium, an element widely used for treating cancer, and, studied uranium and other radioactive substances. Pierre and Marie’s amicable collaboration, later helped to unlock the secrets of the atom., Marie was born in 1867 in Warsaw, Poland, where her father was a professor of physics. At an, early age, she displayed a brilliant mind and a blithe personality. Her great exuberance for, learning prompted her to continue with her studies after high school. She became disgruntled,, however, when she learned that the university in Warsaw was closed to women. Determined, to receive a higher education, she defiantly left Poland and in 1891 entered the Sorbonne, a, French university, where she earned her master’s degree and doctorate in physics., Marie was fortunate to have studied at the Sorbonne with some of the greatest scientists of, her day, one of whom was Pierre Curie. Marie and Pierre were married in 1895 and spent, many productive years working together in the physics laboratory. A short time after they, discovered radium, Pierre was killed by a horse-drawn wagon in 1906. Marie was stunned by, this horrible misfortune and endured heartbreaking anguish. Despondently she recalled their, close relationship and the joy that they had shared in scientific research. The fact that she had, two young daughters to raise by herself greatly increased her distress., Curie’s feeling of desolation finally began to fade when she was asked to succeed her, husband as a physics professor at the Sorbonne. She was the first woman to be given a, professorship at the world-famous university. In 1911 she received the Nobel Prize in, chemistry for isolating radium. Although Marie Curie eventually suffered a fatal illness from her, long exposure to radium, she never became disillusioned about her work. Regardless of the, consequences, she had dedicated herself to science and to revealing the mysteries of the, physical world. (Source: internet), (1) A word in the passage which is a synonym of ‘friendly’ is:, (a) revealing, (b) distress, (c) amicable, (d) stunned, (2) What increased the distress of Marie Curie?, (a) The sudden death of her husband., (b) She would have to raise her daughters all alone, (c) She could not continue with her radium discovery, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 21, (d) The knowledge of her fatal illness., (3) Which of the following statements is false acc ording to the passage?, (a) Marie Curie did not attend any University because women were not allowed to do, so., (b) Pierre was killed in accident involving horse wagons., (c) Curie also worked on the element Uranium., (d) Curie got a chance to teach Physics at Sorbonne., (4) Give the passage a suitable title, (a) Madam Curie and Pierre Curie, (b) Discovery of Radium and Uranium, (c) Mysteries of the physical world, (d) Madam Curie: struggles turn to achievements!, (5) Choose an option than describes Madam Curie, based on the information given in the, passage:, (a) heartbroken, coward, weak, (b) bold, dedicated, confident, (c) complaining, disgruntled, arrogant, (d) despondent, tired, ruthless, Chapter 5 Note Making, Read the following passage/news story and make proper notes following the guidelines of, Note making. (Source: internet, newspaper articles), (1) The decision of the Ministry of Environment and Forests to revalidate the environmental, clearance issued to South Korean steelmaker Posco for the proposed steel plant in, Odisha is based on a piecemeal approach, rather than a comprehensive and cumulative, assessment of all parts of the project. It cannot claim to rely on sound judgment. What, distinguishes the proposal from the welter of projects before the Ministry is its major, Foreign Direct Investment potential, estimated at more than `50,000 crore. There is little, doubt that it will take massive investments to pull the masses out of deep poverty, and, new industries are vital to achieving this goal. Significant expansion of the economy has, taken place over the past two decades, creating much wealth. Unfortunately, this has, also coincided with grossly uneven distribution of negative externalities. In the case of, Posco, the acquisition of land has been a contentious issue, evoking strong protest from, local communities which remain unconvinced about the benefits. Evidently, neither the, project proponent nor the Odisha government has come up with persuasive arguments, over the past eight years on why villagers should part with their land when their livelihood, , © The Institute of Chartered Accountants of India

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22, , FOUNDATION EXAMINATION: MAY, 2019, is linked to it. Moreover, there is no effort to reach a consensus on the renewal of, environmental clearance, now for a production capacity of eight million tonnes per, annum, even with conditionalities that include spending on ‘social commitments’ by, Posco., , (2) By making it optional for cinema halls to play the national anthem before every show, the, Supreme Court has at last removed the coercive element it had unfortunately introduced, by an interim order in November 2016. Laying down a judicial rule that the anthem must, be played on certain occasions in specific places, in the absence of any statutory, provision to this effect, was unnecessary and opened the court to charges of over-reach., With the Centre saying this directive could be placed on hold, and that it would set up an, inter-ministerial committee to recommend regulations for the presentation of the national, anthem, the court has said it is not mandatory to play it in cinema halls. The panel will, also suggest changes in the Prevention of Insults to National Honour Act, 1971, or in the, Orders relating to the anthem issued from time to time. Justice D.Y. Chandrachud, one of, the three judges on the Bench, had at an earlier hearing doubted the wisdom of asking, patrons of cinema to visibly demonstrate their patriotism each time they entered a theatre, to watch a film, remarking that there was no need for an Indian to “wear his patriotism on, his sleeve”. He had asked at what point would such “moral policing” stop if it were to be, prescribed that some kinds of apparel should not be worn at the movies as they could, amount to showing disrespect to the national anthem. The court’s order also had some, unintended, but not unforeseen, consequences. The audience began looking for signs of, ‘disrespect’ and there were reports of vigilantism, with people beaten up or harangued for, not standing up., Chapter 7, Précis Writing, Read the following passages and write a précis for the same. Follow the basic rules of précis, writing while writing., (1) How does television affect our lives. It can be very helpful to people who carefully choose, the shows that they watch. Television can increase our knowledge of the outside world,, there are high quality programmes that helps us to understand many fields of study,, science, medicine, the arts and so on. Moreover, television benefits very old people, who, can't often leave the house as well as patients in hospitals. It also offers non native, speakers the advantage of daily informal language practice. They can increase their, vocabulary and practice listening., On the other hand, there are several serious disadvantages of television. Of course, it, provides us with a pleasant way to relax and spend our free time, but in some countries,, people watch the 'blood tube' for an average of six hours or more a day. Many children, stare at a television screen for more hours each day than they do anything else including, studying & sleeping. It's clear that the tube has a powerful influence on their lives and, that its influence if often negative., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 23, (2) Occasional self-medication has always been part of normal living. The making and selling, of drugs has a long history and is closely linked, like medical practice itself, with belief in, magic. Only during the last hundred years or so, as the development of scientific, techniques made it possible diagnosis has become possible. The doctor is now able to, follow up the correct diagnosis of many illnesses-with specific treatment of their causes., In many other illnesses of which the causes remain unknown, he is still limited, like the, unqualified prescriber, to the treatment of symptoms. The doctor is trained to decide, when to treat symptoms only and when to attack the cause. This is the essential, difference between medical prescribing and self-medication., The advance of technology has brought about much progress in some fields of medicine,, including the development of scientific drug therapy. In many countries public health, organization is improving and people’s nutritional standards have risen. Parallel with, such beneficial trends are two which have an adverse effect. One is the use of high, pressure advertising by the pharmaceutical industry which has tended to influence both, patients and doctors and has led to the overuse of drugs generally. The other, is emergence of eating, insufficient sleep, excessive smoking and drinking. People with, disorders arising from faulty habits such as these, as well as well from unhappy human, relationships, often resort to self-medication and so add the taking of pharmaceuticals to, the list. Advertisers go to great lengths to catch this market., Clever advertising, aimed at chronic suffers who will try anything because doctors have, not been able to cure them, can induce such faith in a preparation, particularly if steeply, priced, that it will produce-by suggestion-a very real effect in some people., Advertisements are also aimed at people suffering from mild complaints such as, simple cold and coughs, which clear up, by themselves within a short time., These are the main reasons, why laxatives, indigestion-remedies, painkillers, coughmixtures, tonics, vitamin and iron tablets, nose drops, ointments and many other, preparations are found in quantity in many households. It is doubtful whether taking, these things ever improves a person’s health, it may even make it worse. Worse,, because the preparation may contain unsuitable ingredients; worse because the taker, may become dependent on them; worse because they might be taken excess; worse, because they may cause poisoning, and worst of all because symptoms of some serious, underlying cause may be asked and therefore medical help may not be sought. Selfdiagnosis is a greater danger than self-medication., Chapter 8, Article Writing, Write an article on the following topics. (Word limit: 300 words), (1) Importance of Trees, (2) Obesity: A growing health hazard amongst youth, , © The Institute of Chartered Accountants of India

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24, , FOUNDATION EXAMINATION: MAY, 2019, , Chapter 9, Report Writing, Write an report on the following topics. (Word limit: 250-300 words), (1) Your college organized a visit to SOS family villages for the orphaned. Write a report for, your college magazine giving details of the visit., (2) As the School Captain, write a report for your school magazine, about a career fest held, in your school last week. Mention the various universities/institutions that participated,, orientation sessions conducted., Chapter-10, Letter Writing, (1) You bought a printer a few days back from a leading chain of electronic stores. Now you, found a few defects in its working. Write a letter to the dealer complaining about the, problem and requesting him to rectify the problem or replace the printer., (2) As the HR Manager of your organization, draft a circular for all the employees of your, company, informing them about New Year party being organized over the weekend in the, office campus. Mention a few events and request for active participation., Chapter 11, Formal Mails, (1) Your company Axion Electronics has developed a Digital notice Board. Draft a formal, mail to advertise the product, conveying all the necessary features of the product and, attractive offers on bulk orders., (2) On behalf of your CA firm, write a formal mail to all your clients requesting them to, provide all the necessary information, needed for advance tax. State that details should, be sent well in time, before Jan 31, 2019., Chapter 12, Resume Writing, (1) Draft a resume for Aditya Narula, who has passed class XIIth, has completed his B.com, with distinction and is currently pursuing M.com (final year). Aditya wishes to apply fo r a, job in a small start up which deals with stocks., (2) Draft a resume for Ms Seema Solanki, a resident of Mumbai, a qualified CA with an, experience of over 15 years in two organizations. Seema now plans to switch her job and, is applying to one of the Big fours., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 25, Chapter 13, Meetings, (1) Your company, is launching a new product. Prepare minutes of the meeting for the, same. Members in the meeting: MD, Head of the Sales and Marketing, Product Head,, Consultants and few team members., (2) As a HR manager, prepare the agenda of an upcoming meeting regarding staff matters., SUGGESTED ANSWERS/HINTS, Chapter -1 Communication, (1) Barriers in communication:, •, , Physical Barriers, , •, , Cultural Barriers, , •, , Language Barriers, , •, , Technology Barriers, , •, , Emotional Barriers, , Technology Barriers: Being a technology driven world, all communication is dependent, on good and extensive use of technology. However, there might arise technical issues,, like server crash, overload of information etc which lead to miscommunication or no, communication at all., Language Barriers: It’s a cosmopolitan set up, where people of different nationalities, move from their home to other countries for work. As a result, it is difficult to have a, common language for communication. Hence, diversity gives rise to many languages and, it acts as a barrier at times., (2) Vertical Network and Wheel & Spoke Network, Vertical Network, , Wheel and Spoke Network, , A formal network. It is usually between a, higher ranking employee and a, subordinate., , A network with a single controlling, authority who gives instructions and, orders to all employees working under, him/her., , A two way communication happens, , Two way communication happens but, useful only in small organizations., , © The Institute of Chartered Accountants of India

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26, , FOUNDATION EXAMINATION: MAY, 2019, , Chapter-2 Sentence Types, (A) Active to Passive, (1) Many battles were fought by Rana Pratap, (2) Football matches are watched by people late night., (3) The Principal was approached by the students for their rights., (4) Studies should be given first priority., (5) A lot is spoken on politics by Abhishek., (B) Direct to Indirect Speech., (1) She said that her mother cooked well., (2) The athlete said that he could break all records, (3) Brother said that he had finished his studies., (4) Teacher appreciated the girl that she had been working hard, (5) Uncle complained that he was unwell., (C) Passive to Active, (1) The school authorities declared the results, (2) You must complete the test in one hour., (3) Fire destroyed the factory, (4) Rajat is eating the cake., (5) Women led a conservative lifestyle in olden days, Chapter-3 Vocabulary, (A) Synonyms, (1) Option c, (2) Option a, (3) Option d, (4) Option b, (5) Option e, (B) Antonyms, (1) Option d, (2) Option c, (3) Option a, (4) Option b, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 27, (5) Option c, (C) Idioms, (1) Option c, (2) Option a, (3) Option d, (4) Option b, (D) Fill in the blanks:, (1) Option c, (2) Option b, (3) Option a, (4) Option d, Chapter -4 Comprehension Passages, Passage-1, (1) Option c, (2) Option d, (3) Option b, (4) Option a, (5) Option c, Passage-2, (1) Option c, (2) Option b, (3) Option a, (4) Option d, (5) Option b, Chapter-5 Note Making, Passage -1, Ministry’s Decision Revoked (Heading), (I), , S. Korean steel maker Posco under attack, , (II) Prpsl for steel plant in Odisha rcnsdrd, (III) Need to rethink the descn, , © The Institute of Chartered Accountants of India

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28, , FOUNDATION EXAMINATION: MAY, 2019, (a) Not based on solid grounds, (b) FDI’s, (c) Land aqstn from natives nt easy, (d) Protests frm land holders, , (IV) No concrete result, (a) 8 years past; standstill, (b) Neither prpnt nor govt. able to justify its moves, (c) Leaves the matter open ended., Key Used:, (1) S= south, (2) Prpsl= proposal, (3) Rcnsdrd=reconsidered, (4) Descn= decision, (5) Aqstn- acquisition, (6) Nt= not, (7) Frm= from, (8) Prpnt=proponent, (9) Govt= government., (10) FDI= foreign direct investment, Passage-2, Playing of National anthem in movie halls (Heading), (I), , The Court’s ordr wdrwn, , (II) Court mks it optional; cnnt have a mandate on the issue, (III) Consequences, (a) Govt intervenes; calls for a mnstrl dscsn, (b) Prps a hold on the court’s jdcl rule, (c) Suggest chngs in the Prvntn of Insults and Ntnl honour Act, (IV) Justice Chadrachud suggests, no end to ‘moral policing’, (V) Cnseqncs, (a) Vlnce amngst ppl., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 29, (b) Hrsmnt of pub., (c) Dsrspct in the scty., Key Used:, (1) Ordr= order, (2) Wdrwn= withdrawn, (3) Mks= makes, (4) Cnnt= cannot, (5) Govt= government, (6) Mnstrl=ministerial, (7) Dscsn=discussion, (8) Prps=proposes, (9) Jdcl=judicial, (10) Chngs= changes, (11) Prvntn=prevention, (12) Ntnl= national, (13) Cnseqncs= consequences, (14) Vlnce=violence, (15) Amngst= amongst, (16) Ppl= people, (17) Hrsmnt=harassment, (18) Pub=public, (19) Dsrspct=disrespect, (20) Scty= society, Chapter -7 Précis Writing, (1) Television: Bane or Boon (Title), Television affects our lives in several ways. We should choose the shows carefully., Television increases our knowledge It helps us to understand many fields of study. It, benefits and people and patients. There are some disadvantages too some people, devote a long time to it. Students leave their studies and it distracts their attention., (2) Self Medication (Title), Self medication is part of normal living. Medicinal experts are required for diagnosis and, treatment of disease according to symptoms and cause., , © The Institute of Chartered Accountants of India

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30, , FOUNDATION EXAMINATION: MAY, 2019, The development of drug therapy and improvement in public health organizations and, nutritional standards have helped progress in medicinal science. Excessive advertising, by pharmaceutical companies and emergence of the sedentary society are two counter, trends. Self medication is dangerous as the preparation may be toxic or contain, unsuitable ingredients, the user becomes dependent and c onsumes medicine in excess., Self-diagnosis is worse than self medication., , Chapter -8 Article Writing, (1) Hints:, •, , Cleanse the environment, , •, , Trees provide oxygen, , •, , Prevent soil erosion, , •, , Preserve the ecosystem, , •, , Important part of the food chain, , •, , Provide home remedies for certain ailments (trees like neem, eucalyptus,), , •, , Provide food and habitation for birds and small animals, , •, , Commercial use of trees: timber, rubber, resins, oils etc., , •, , Environmental hazards caused by cutting of trees, ➢, , Disturbs the ecological balance, , ➢, , Global warming, , ➢, , Threatens biodiversity, , (2) Hints:, •, , •, , Causes of obesity, ➢, , Erratic eating habits, , ➢, , Erratic sleeping pattern, , ➢, , Stress due to competition in studies, , ➢, , Junk food consumption, , ➢, , Not having balanced diet, , ➢, , Sedentary lifestyles, , ➢, , Lack of proper exercise, , Remedies, ➢, , Follow proper regimen, , ➢, , Having home cooked food at regular intervals, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 31, ➢, , Avoiding fatty foods and sugar rich drinks, , ➢, , Including fruits and vegetables in diet, , ➢, , Play a sport, , ➢, , Regular walks, , Chapter-9 Report Writing, Report-1, Hints:, •, , Mention a heading, name of the SOS village, , •, , Date of the visit, , •, , Purpose of the visit, ➢ Donate rugs and warm clothing for winters, ➢ Familiarising with the working of an NGO, ➢ Offering voluntary services like adult education, , •, , Brief description of the family met, , •, , Management officials you met, , •, , Challenges and Hazards of running such a set up, , •, , How to contribute, , •, , Conclusion, , Report-2, Hints:, •, , Have a good heading, , •, , Mention the time, date, venue, , •, , Divide the report into three paragraphs:, , •, , What/When/Where/ Who was invited, , •, , Purpose of the event (learn about the career options after school), , •, , Describe the event in details (name of institutions that participated, orientation sessions, organized), , •, , Enthusiasm in the student community about careers in creative and performing arts, , •, , Conclude with an optimistic view., , © The Institute of Chartered Accountants of India

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32, , FOUNDATION EXAMINATION: MAY, 2019, , Chapter-10, Writing Formal Letters and Official Communication, (1) XYZ Electronics, New Delhi., Date: 20thDec, 2018, Manager, Customer Care, XYZ Electronics, New Delhi., Dear Sir/Ma’am, Sub: Complaint regarding the printer model CanXR 0987, Invoice No: Prin/CanXR/6 -122018, This is regarding the printer that I bought on Dec 6, 2018. After installation, it worked fine, for a few days. But lately every time a print command is given, it paper gets stuck and the, scanning/photocopying option is not working at all. Please send your executive to, examine the problem and rectify it at the earliest or get it replaced. I had bought the, equipment to take print-outs at home for an urgent project work submission., I request you to look into the problem urgently and send the expert tomorrow evening by, 7PM. You can send the name and mobile number of the executive at my number, XXXXXXXXXX. Looking forward to a prompt response., (Signed), ABC, Circular, Circular No. XXXIV, , Dec 31, 2018, New Year Party, , For all employees, Wishing All a very Happy, prosperous and productive New Year 2019. A New Year party, is being organized in the office premises on the coming weekend (Jan 5, 2019) at 7 PM., Everyone is cordially invited with their families., The events would be as follows:, •, , Live performance by the pop band ‘ASD’, , •, , Couple Dance competition, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 33, •, , Stand up Comedy, , •, , Surprise Gifts for kids, , •, , Lucky Draw, , •, , Buffet Dinner with special buffet for the kids, , Looking forward to an active participation., Romi Mistry, Manager, HR, Chapter-11 Writing Formal Mails, Mail-1, To: [email protected], CC/BCC: [email protected], Subject: Introducing our tiffin supply plan, Dear Sir/Ma’am,, Greetings for the day. I would like to introduce our new product Digital Notice Board. The, product will improve internal communications, increase workforce awareness about the, company policies, goals and key initiatives, enhance visitor communication and engagement, and can also be used to convey emergency alert messages thus preventing systems., The Interactive Display can be fixed at strategic locations such as the Reception, Lobby,, Cabin, Meeting Rooms., Benefits:, •, , Display your Notices, News, Achievements, Images, Videos, Weather updates etc., , •, , Convey any message to visitors/Employees/customers., , •, , Common platform to Inspire & motivate the Workforce., , •, , Can be managed from any location and can be updated remotely., , •, , Return On Investment by Advertisements., , We are offering attractive discounts on bulk orders (at least 3 units), For more information / demonstration about the product, please write to us. Looking forward, to your kind response., Warm Regards,, Team Axion Electronics, , © The Institute of Chartered Accountants of India

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34, , FOUNDATION EXAMINATION: MAY, 2019, , Mail-2, To: [email protected], abc @yahoo.com, [email protected], CC/BCC: [email protected], [email protected], Subject: Submit details for advance tax, Dear Clients,, Wishing you and your family a Very Happy and Prosperous New Year 2019. You are, requested to submit details of your income, profit, current investments and assets to enable, our team to calculate your tax payable for the year 2018-19. Kindly provide the necessary, details by Jan 31, 2019 so that our team can guide you to plan your future investments. Kindly, contact the undersigned for any clarification/information or a prior appointment for a personal, meeting., Hope to get cooperation from you all., Thanks and Regards,, ABCD Kumar, (Chartered Accountant), Chapter-12 Resume Writing, (1) Aditya Narula Resume hints, Following is a standard format, with subheadings for fresher like Aditya:, •, , Name and contact details, , •, , Objective Summary, , •, , Academic Qualifications and Achievements, , •, , Co-curricular Achievements, , •, , Training Programs attended/completed, , •, , Strengths, , •, , Interests/Hobbies, , •, , Declaration, , •, , Signature, , (2) Seema Solanki, Format for a Resume showing years of experience, •, , Name and contact details, , •, , Objective Summary:, , •, , Career Summary, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 35, •, , Experience, , •, , Company 1, Job title, ▪, , •, , Responsibilities/Achievements, , Company 2, Job title, ▪, , Responsibilities/Achievements, , •, , Educational Details, , •, , Hobbies and Interests, , •, , Signature, , •, , References with their phone numbers, , Objective Summary: seeking leadership roles and making a meaningful impact on the growth, of the organization., Career Summary: Have been associated with firms with an employee size of around 1200. I, have a rich experience in costing and finance operations. My expertise lies in handling cash, flow and pay rolls process., Company Name 1, Job title: Analyst, Job Responsibilities:, •, , Handling finance operations and determining major financial objectives., , •, , Supervising monthly financials, , •, , Deducing cost feasibility of cost based projects, , Company Name 2, Job title: Manager/Sr. Consultant, Job Responsibilities:, •, , Designing and implementing cost effectives techniques, policies and procedures to, enhance financial growth., , •, , Managing pay rolls: computations of salaries, TDS, PPF, , •, , Heading a six member team, handling daily basis output and ACR’s., , © The Institute of Chartered Accountants of India

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36, , FOUNDATION EXAMINATION: MAY, 2019, , Educational details, (Pointers as follows), School, class Xth and XIIth marks/grades, College/University: B.Com, ICAI, Mumbai : CA, Chapter-13 Meetings, Date: Jan 2, 2019, Venue: Conference Hall, 3 rd Floor, Meeting started at 11 : 00 AM., In attendance : Mr. BNM Managing Director, Mr. ASD Head , Sales and Marketing, Mr. FGH,, Product Head, Mr. JKL Plant Head, two Senior Consultants from QWE Consulting and, Market Research , three members of the Sales team, Mr. FGH, Product Head, •, , Introduced the agenda, , •, , Demonstrated the prototype of the new product, , •, , Explained the utility and target customers, , •, , Existing Variants in the market vs variants to be introduced by the company in 6 months, time, , Mr. JKL, Plant Head, •, , Discussed preparedness for mass manufacturing of the new product, , •, , Discussed potential vendors to manufacture the variants, , Mr. VBN Senior Consultant, QWE Consulting and Market Research, •, , Discussed marketing strategy for product launch, , •, , Discussed media advertising for product promotion, , Mr. ASD Head, Sales and Marketing, Mr. RTY Executive, Sales Team, •, , Presented the estimated demand and sales figures for first quarter (initial 3 months after, launch), , •, , Discussed feedback received from the sample customers, , All the participants consented to submit their observations and reports to Mr. BNM Managing, Director, Mr. ASD Head, Sales and Marketing,, The Head of Sales and Marketing proposed a vote of thanks and declared the next meeting to, discuss reports to be held on Feb 4, 2019., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 37, ATR to be submitted by Jan 25, 2019 to the Head of Sales and Marketing., (2) Tabular Agenda:, Time, 9:30 am, , 9:35 am, , 10:05 am, 10:20 am, 11:00 am, , 11:15 am, 11:35 am, , Topic, Introduction, Welcome note, , Attendees, Speaker, and • MD, Head HR, • Chief, Operating, Officer, • Head (Admin), • Sr. Manager HR, • Manager HR, • Executives, -doSr. Manager, • Staff Matters, HR, • Fresh, Appointments and, interns in, • Sales & Marketing, • Transfers, • Promotions, • Training Approvals, • Study, Leave, Approvals, • Cash Rewards, Presentation/Discussio, -doChief, n on Staff Motivation, Operating, Programmes, Officer, Tea/Breakfast, Tea/Breakfast, Circulation roster for • Chief, Operating Head(Admin, housekeeping, staff/, ), Officer, peons, • Head (Admin), • Sr. Manager HR, • Manager HR, • Executives, Open House, -doAll members, Vote of Thanks, All participants, Chief, Operating, Officer, , © The Institute of Chartered Accountants of India, , Duration, 5 minutes, , 30 mins, , 15 mins, 40 mins, 15 mins, , 20 mins, 5 mins

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PAPER – 2: BUSINESS LAWS& BUSINESS CORRESPONDENCE AND REPORTING, SECTION B: BUSINESS CORRESPONDENCE AND REPORTING, QUESTIONS, Chapter-1, Communication, (1) What is network in communication?, (2) Describe various characteristics of effective communication?, Chapter 2, Sentence Types: Active Passive Voice, Direct Indirect Speech, (A), , Change the following sentences into passive voice., 1. John helps William., 2. Who did this?, 3. Some students were helping the layman., 4. Ram will finish the work by tomorrow., 5. The Peon opened the gate., , (B), , Change the following Direct speech into Indirect speech., 1. He said, ‘I have passed the examination.’, 2. Ram said to him, ‘I don’t believe you.’, 3. Where do you live?’ asked the stranger., 4. Call the second witness,’ said the judge., 5., , He said, ‘Well-done! You have done well.’, , Chapter -3 Vocabulary, (A) Select the suitable synonym for the given words:, 1. Inchoate, a- Contextual, , b- notified c- rudimentary, , d-disseminate, , 2. Hone, a- Grind, , b- jumble c-heuristic, , d- chroneme, , 3. Dilatory, a- Using time, , b-wasting time, , © The Institute of Chartered Accountants of India, , c- about to complete d-proximity

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 15, 4. Sturdy, a- Stealth, , b-very small c- peculiar d-indomitable, , 5. Oblivious, a- Refuel b- problematic c- digress d-heedless, (B) Select the suitable antonym for the given word:, 1. Frivolus, a- Resolute, , b-gleeful c-fragile d- advantageous, , 2. Prerogative, a- Positive b- embargo c- invincible d-grapple, 3. Vituperate, a- Dignity b- relevance c- exculpate d-perturb, 4. Turmoil, a- Kindness b- compliment c-adjustor d- serenity, 5. Sane, a- ego b-frantic c- composer d-gleaner, Chapter 4, Comprehension Passages, Read the following comprehension passages and answer the following questions, Passage 1, (1) All languages are systematic and rule bound. Children across the world acquire their natural, language in same manner. In this context, linguistics is not simply the study of foreign languages., It is the scientific, organized and systematic study of a language. Linguists examine and evaluate, language one the basis of words, sentence, word order, pronunciation to discuss the internal, language mechanism. Generally people understand that a linguist can speak many languages., However there is big difference between a linguist and a polyglot. India as a case in example has, six distinct language families. It is estimated that approx. seventeen hundred languages are, spoken in India only. Hindi is a rich language but does not still have a national language status in, terms of official usage although it is official language for some states. English is official language, for most other states., Most countries have only one language besides Canada where French and English both are official, languages. In the western world, countries are strongly associated with single languages and vic e, versa. Linguists see this due to the rise of nation states in the past few centuries where single, languages attained official status in individual countries, English in the United Kingdom , Frenc h in, France, Italian in Italy, etc. However beneficial the official status of one language may be for a, , © The Institute of Chartered Accountants of India

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16, , FOUNDATION EXAMINATION: NOVEMBER, 2019, , modern country in terms of government, public discourse, higher education, etc., it is not helpful to, other languages which may be found within the borders of a particular country. In many aspects, language represents our identity and culture. Furthermore, even in countries where only one, language is spoken, say Dutch in the Netherlands, there may well be different dialects of this, language closely related to the national language. Even within Europe, and most certainly outside, of it, the equation of one country with one language breaks down. Switzerland is a good example of, a country where a single national identity exists across three major and one minor speech, community: Swiss German, French, Italian and Rhaeto-Romance. Beyond Europe it is more the, rule than the exception for countries to have several languages within their borders. One need only, think of such countries as India and China or Siberian Russia to see how many languages c an be, integrated into a single state. In such instances, there is of course an official language which, serves the function of a lingua franca, that is, a language which is used as a means of, communication among those groups who do not speak each others language., 1. A linguist is one who, a- knows many languages, b- make a language, c- speak many languages, d- master in programming language, 2. India as a linguistic area hasa- a single language, b- six languages, c- only one official language, d-, , many languages, , 3. Language representsa- Population, b- Identity, c- Boundary, d- civilization, 4. Switzerland is famous for –, a- Natural diversity, b- Language identity, c- Cultural identity, d- National identity, 5. Lingua franca means-, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 17, a- Any language used for speech and writing between business purpose, b- Language for business, c- Any language used for communication between groups who have no other language, in common., d- Any language used for communication between the particular speech community, Passage 2, The word ‘Ethics’ is derived from the Greek word “ethos” meaning character. It refers to, conventional standard of right and wrong, good and bad that means what people should do or, should not. It includes fairness, loyalty and honesty for others. In the context of an organization,, ethics can be viewed as a frank conversation about those values and issues most important to, stakeholders and to business. Ethical behaviour in organizational context has been most frequently, described in terms of ethical standards of senior leaders and the culture to which they substantially, contribute (DeGeorge, 1986). We define leadership as the art of persuading a follower to want to, do the things, activities, that the leader sets as goals. The role of leaders is that of directing an, individual’s behaviour towards a desired goal. There are several kinds of Leaders that having, different leadership styles that stem from unique characteristics of their personality. Leaders have, different values, attitudes, beliefs, conduct, habits and practices. It largely depends upon the, organizational, professional or institutional culture. Leadership signifies a relation between a leader, and his followers within a situational and organizational context. Leadership in the context of, normative organizational ethics can be defined with regard to how individuals should or ought to, behave in an organization. This includes speculations about criteria that define ethical decisions, and personality characteristics., Many business organizations are implementing policies and procedures to encourage an ethical, work culture. Companies are establishing codes of ethics, appointing ethics compliance offic ers,, and instituting ethics training programs. Ethics comprise five elements: responsibility, respect,, fairness, honesty, and compassion. Companies are also developing Web-based programs and, workshops that teach employees how to relate to each other, to the company, to customers, and to, business partners. These trainings sometimes include ethical decision-making m odels and role playing scenarios that help employees respond appropriately to dilemmas. Typical ethical topics, include workplace romance, e-mail appropriateness, Internet use, integrity, confidentiality, security,, and harassment., 1. Write title of the passagea- Ethics in business, b- Ethical Leadership, c- Ethics and Marketing, d- Leading as a leader, 2. Ethics include-, , © The Institute of Chartered Accountants of India

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18, , FOUNDATION EXAMINATION: NOVEMBER, 2019, a- Beyond loyal, b- Need and importance, c- Truthiness, d- Knowing right and wrong, 3. Most leaders havea- Social mutual relation, b- Effective speech, c- Individual leadership style, d- Intrapersonal behavior, 4. ------------ is organized by organizations for inculcating ethics amongst employees, a- Seminar, b- Conference, c- Moral value discussion, d- Ethics training programme, 5. Objective of organizing training programme on ethics to inculcate, a- Ethical decision making, b- Ethical based value system, c- Ethical work culture, d- harmony, , Chapter 5 Note Making, Read the following passage/news story and make proper notes following the guidelines of Note, making. (Source: internet, newspaper articles), Market risk is inevitable part of capital market. Broadly, ‘MR’ means changes in the market prices, of underlying. In commercial business the market risk may be a consequence but in capital market, it forms organization’s core business. MR can arise in different stages of services or different, timing say during an hour, a day or a week. Generally, the primary concern in assessing the market, risk is to assess it in absolute term or relative changes in comparison of any benchmark say, interest rates etc. The market risk can be broken down into different classes: such as internet risk,, foreign exchange risk, commodity risk and equity risk. Internet rate risk arises due to change in the, yield curve. It affects not only current value of items of Balance Sheet of a financial institutions but, also the off the Balance Sheet items. Foreign exchange risk arises on account of change in the, price of foreign currency. Commodity risk arises due to change in price of commodities, commodity, price index etc. and Equity risk occurs when there is a fall in equity indices or most of the shares., Equity risk normally results from any unprecedented events say sovereign default etc., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 19, Chapter 7, Précis Writing, Read the following passages and write a précis for the same., 1) The word ‘gender’, originally a grammatical term, has come to refer to the social roles and, behaviour of individuals arising from their classification as biologically male or fem ale. In, other words, Gender is general terms is imported from the social sciences for the sex or, sexuality of human beings. Hence ‘gender difference’, of a difference in speech between, men and women; language and gender, as a branch of sociolinguistics dealing with suc h, differences.This is a huge complex embracing virtually all aspects of social beh aviour of, which language is only one. Recently, intensive research has been carried out about the, relationship of language and gender, largely by female scholars who have felt drawn to, the topic because of the obvious discrimination against women that has taken place in the, past and which can still be observed today. The initial impulse was the work of the, American linguist Robin Lakoff, who in the early 1970s focussed her attention on certain, themes with the language and gender complex above those that she rightly felt required, rectification. Her work stimulated other scholars to engage in this study and soon, language and gender was a burgeoning research area in universities across the western, world. Various opinions emerged on this relationship with two gaining particular focus., One is the difference approach which established that male and female language is, dissimilar in spoken as well as written without attributing this to the nature of the social, relationship between men and women. The other is the dom inance approach which saw, language usage by females and males as reflecting established relationship of social, control of the latter over the former. With the maturation of research on language and, gender the simple ‘difference – dominance’ dichotomy was increasingly regarded as, unsatisfactory and insufficiently nuanced. For example, to maintain that men have a, competitive style of social behaviour in western countries is a generalisation that everyone, would agree. However, there are men who are not competitive in this respect. There are, common tendencies that one comes across such as men interrupt women more, wom en, are more communicative than men, women gossip more than men, men speak more, comfortably in public and are good in calculation than women., 2) There are approx. 6000 languages spoken worldwide. Out of them only some languages, have script while others exist only in spoken form. Language diversity is common, phenomena to the human. But Language death is equal to human death. In this regard,, we need to work for language documentation, making new language policy, and new, application to enhance the vitality of languages. A language is endangered when it is on a, path toward extinction. Indeed, without proper documentation, a language that is extinct, can never be revived. A language is in danger when its speakers cease to use it, use it in, an increasingly reduced number of communicative domains, and cease to pass it on from, one generation to the next. That is, there are no new speakers, adults or children. About, 97% of the world’s people speak about 4% of the world’s languages; and conversely,, about 96% of the world’s languages are spoken by about 3% of the world’s people, , © The Institute of Chartered Accountants of India

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20, , FOUNDATION EXAMINATION: NOVEMBER, 2019, (Bernard 1996: 142). Many indigenous peoples, associating their disadvantaged social, position with their culture, have come to believe that their languages are not worth, retaining. For linguist, each language is unique and each language is a unique expression, of the human experience of the world. Thus, the knowledge of any single language may, be the key to answering fundamental questions of the future. Every time a language dies,, we have less evidence for understanding patterns in the structure and function of human, language, human prehistory, and the maintenance of the world’s diverse ecosystems., Raising awareness about language loss and language diversity will only be successful, when meaningful contemporary roles for minority languages can be established, for the, requirements of modern life within the community as well as in national and inter national, contexts. External Specialists and Speech Communities External language specialists,, primarily linguists, educators, and activists see their first task as documentation., , Chapter 8, Article Writing, 1) Online Payment on a high after demonetisation, 2) Unemployment: A blot to Indian economy, Chapter-10, Letter Writing, 1) Write a letter from xyz pvt ltd confirming the order placed and other details., 2) Write a complaint letter to the supplier about a defective consignment received., Chapter 11, Formal Mails, 1) Write a mail to Suraj Gupta responding to his query about the availability of cosmetics and, toiletries in your manufacturing unit ‘Shimmer and Shine’. You are Mr. Vishnu Verma,, marketing head of the company. (word limit: 150-200 words), 2) You are Arvindkumar, a team leader in project implementations department of Cellular, Telecommunications. Write a mail to all members of your team asking them to attend a, meeting after two days, seeking their suggestions on ways and means to speed up the, implementation of the project of improving connectivity in X,Y,Z areas in the city . (word, limit: 150-200 words), Chapter 12, Resume Writing, 1) You are Abhinav/RakhiGoel, a resident of Tagore Garden, New Delhi. You have recently, come across an advertisement in the Times of India post of a Jr. Accountant at HCL. Draft, a résumé along with a cover letter in response to the advertisement., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 21, 2) You are Anil/Snjukta. You come across the following advertisement for the post of, Chartered Accountant in the Employment News at ROCA. You consider yourself suitable, and eligible for the post. Write an application in response to the advertisement. Attach, your curriculum vitae., Chapter 13, Meetings, (1) Your company, has witnessed a gradual decline in a consumer product over the one year., Prepare the minutes of the meeting for the same. Members in the meeting; Head of the, Sales and Marketing, Product head, Product lead and concerned team members., (2) As an employee of a CA firm, Prepare the agenda of an upcoming partners’ visit in tabular, format. Include senior executive in the meeting discuss the agenda for the meeting and, how the one day visit of the partner needs to be planned., Answers, Chapter -1 Communication, 1) A communication network refers to the method and pattern used by members of an, organisation to pass on information to other employees in the organization. Network helps, managers create various types of communication flow according to requirement of the, task at hand. Some companies have established and predefined networks of, communication for specified venture., 2) The Characteristics of Effective Communication:, Communication for humans is akin to breathing. From the first cry of the baby to the last, breath of a person, communication is an essential part of life. However, good communication, is an art that has be developed and honed. Effective communicators practice every aspect of, the skill frequently., It is a fact that our everyday communication is often marred by confusion, misunderstandings,, misconceptions, partial understanding and obscurity. Thus, several aspects must keep in mind, while interacting with others for our communication to convey the intended message., 1. Clear: Any spoken or written communication should state the purpose of message clearly., The language should be simple. Sentences ought to be short as the core message is lost, in long, convoluted sentences. Each idea or point must be explained in a separate, bulleted points or paragraphs. Make it easy for the reader to grasp the intent of the, communiqué., 2. Concise: Brevity is the essence of business communication. No one has the time to read, long drawn out essays. Besides, the core content is lost in elaborate details. Avoid using, too many irrelevant words or adjectives, for example, ‘you see’, ‘I mean to say’, etc., Ensure that there are no repetitions, , © The Institute of Chartered Accountants of India

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22, , FOUNDATION EXAMINATION: NOVEMBER, 2019, 3. Concrete: The content of your communiqué should be tangible. Base it on facts and, figures. Abstract ideas and thoughts are liable to misinterpretation. Make sure that there is, just sufficient detail to support your case/ argument and bring focus to the main message, 4. Coherent: Coherence in writing and speech refers to the logical bridge between words,, sentences, and paragraphs. Main ideas and meaning can be difficult for the reader to, follow if the writer jumps from one idea to another and uses contradictory words to, express himself. The key to coherence is sequentially organized and logically presented, information which is easily understood. All content under the topic should be relevant,, interconnected and present information in a flow., 5. Complete: A complete communication conveys all facts and information required by the, recipient. It keeps in mind the receiver’s intellect and attitude and conveys the message, accordingly. A complete communication helps in building the company’s reputation, aids, in better decision making as all relevant and required information is available with the, receiver., 6. Courteous: Courtesy implies that the sender is polite, considerate, respectful, open and, honest with the receiver. The sender of the message takes into consideration the, viewpoints and feelings of the receiver of the message. Make sure nothing offensive or, with hidden negative tone is included., 7. Listening for Understanding: We are bombarded by noise and sound in all our waking, hours. We ‘hear’ conversations, news, gossip and many other forms of speech all the, time. However, most of it is not listened to carefully and therefore, not understood,, partially understood or misunderstood. A good listener does not only listen to the, spoken words, but observes carefully the nonverbal cues to understand the complete, message. He absorbs the given information, processes it, understands its context and, meaning and to form an accurate, reasoned, intelligent response., The listener has to be objective, practical and in control of his emotions. Often the, understanding of a listener is coloured by his own emotions, judgments, opinions, and, reactions to what is being said. While listening for understanding, we focus on the, individual and his agenda. A perceptive listener is able to satisfy a customer and suggest, solutions as per the needs of the client, 8. Focus and Attention: Everyday work environment has multiple activities going on, simultaneously. The ringing of the phone, an incoming email, or a number of tasks, requiring your attention, anxiety related to work, emotional distress etc. can distract you., Such distractions are detrimental to the communication process with an individual or a, group of people. You may overlook or completely miss important points or cues in the, interaction. Thus, keeping your focus and attention during the communiqué is, imperative for effective communication., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 23, 9. Emotional Awareness and Control: “Human behavior is not under the sole control of, emotion or deliberation but results from the interaction of these two processes,”, Loewenstein said., However, emotions play a major role in our interactions with other people. They are a, powerful force that affect our perception of reality regardless of how hard we try to be, unbiased. In fact, intense emotions can undermine a person’s capacity for rational, decision-making, even when the individual is aware of the need to make careful decisions., Consequently, emotional awareness is a necessary element of good communication., While interacting with another person or a group, it is important to understand the, emotions you and he/ she/ they are bringing to the discussion. Managing your own and, others emotions and communicating keeping in mind the emotional state of others helps, in smooth interaction and breakdown of the communication process., Chapter-2 Sentence Types, (A) Active to Passive, 1. William is helped by John., 2. By whom was this done?, 3. The layman was being helped by some students., 4. The work will be finished by Ram tomorrow., 5. The gate was opened by the peon., (B) Direct to Indirect Speech., 1. He said that he had passed the examination., 2. Ram said he didn’t believe him., 3. The stranger required where I lived., 4. The judge commanded them to call the second witness., 5. He applauded him, saying that he had done well., Chapter-3 Vocabulary, (A) Synonyms, 1. C, 2. A, 3. B, 4. D, 5. D, , © The Institute of Chartered Accountants of India

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24, , FOUNDATION EXAMINATION: NOVEMBER, 2019, (B) Antonyms, 1. A, 2. B, 3. C, 4. D, 5. B, , Chapter -4 Comprehension Passages, Passage-1, 1. A 2. d 3. b 4.b 5.c, Passage-2, 1. b, 2. d, 3.c, 4. d, 5. a, Chapter-5 Note Making, 1) Risk Management, 1) Wht is risk mngmnt, 2) Relvncy of MR in comrcialbsines, a- Fluctuationb- Primary concern, 2) How many kinds of MR, a) Intrnt rate rsk, b) Fornexchngrsk, c) Commdtyrsk, d) Equtyrsk, 3) Equtyrsk occurs when, 4) D prmry concern of MR, Key:, Wht-What, Mngmnt- management, Relvncy- Relevancy, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 25, MR- Market Risk, Comrcial- Commercial, Bsness- business, Intrnt- Intenet, Rsk-risk, Forn-foreign, Exchng-exchange, Commdty-commodity, Equty- equity, d-the, prmry- primary, Chapter -7 Précis Writing, 1) Language and Gender, The word ‘gender’ used in two contexts, first for grammatical gender and second biological, gender. Language is influenced by gender. Women tend to use more standard language than, men (perhaps due to their position in western societies). On the other hand they also tend to, be at the forefront of linguistic innovations. A woman tends to good in verbalization., Language Vitality and Endangerment, 2) Language endangerment is an alarming situation worldwide. Language teachers should, be well trained linguistically and language documentation should be encouraged by state, authorities. Similarly, linguists, language activists, and language policy makers have a, long-term task to compile and disseminate the most effective and viable mechanisms for, sustaining and revitalizing the endangered languages., Chapter -8 Article Writing, 1) Hints:, .On Nov.8, 2016- govt. announced discontinuation of Rs. 500 and Rs. 1000 notes., ➢ The move forced people to use options such Internet banking, mobile banking, credit and, debit cards, mobile wallets and other prepaid payment instrument., ➢ Digital transactions have grown by 400 to 1000%., ➢ This figure does not include transactions done through Master and Visa cards., , © The Institute of Chartered Accountants of India

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26, , FOUNDATION EXAMINATION: NOVEMBER, 2019, ➢ People to be educated about digital payments through websites and television., ➢ Increased transactions on e-wallet., ➢ Volume of transcations using Rupay card has increased from 3.85 lakh per day to 16, lakh per day., ➢ These digital transactions will ensure money comes into the system., ➢ All money/transactions will be accountable. They will generate tax, thus developing the, country’s economy., ➢ The government will develop better welfare plans when money will be deposited in, banks., , Q.12.-Topic- Unemployment: No longer India’s economy capital, 2) Hints:., ➢ The world economy is facing 2 major challenges- unemployment and poverty., ➢ Financial crisis caused by unemployment leads to an overall purchasing power resulting, in poverty followed by an increasing burden of debt., ➢ In India, the problems of underemployment, unemployment and poverty have always, been the main hindrances to economic development., ➢ Another colossal problem is the large population., ➢ A critical aspect is the regional disparity., ➢ Mass migration from rural to urban regions is adding to the problems of unemployment, and poverty., ➢ Economic reforms, changes in the industrial policy and better utilization of available, resources will reduce the problem., ➢ The government must initiate long term measures for poverty alleviation., Chapter-10, Writing Formal Letters and Official Communication, KaluSarai,, New Delhi, August 09, 2019, MR. Ramesh, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 27, Director, Sales and Marketing, XYZ Pvt. Limited, Dear Sir/Ma’am,, Sub: Order Confirmation (No: XYZ/0012/Jun 2019), I would like to take the opportunity to thank you for giving us a business opportunity. It is an, honour for us to be serving your esteemed organization that enjoys a formidable reputation., I would like to inform you that the 1800 units of machinery ordered vide Order no. XYZ/0012/Jun, 2019, will be delivered as per the mutually decided date. In addition, our experts would come to, install the machinery and give a detailed demo of its working. We would also provide a free for the, next two years, taking care of any wear and tear or products damage. The products has two year, warranty period., For any other query regarding the machinery ordered and its functioning, please feel free to contact, us. We would be happy to serve you at the earliest., Thanks and Regards,, Mr.Khan, Sr. Manager, Sales and Marketing, Drive Pvt. Ltd., 2) XYZ Corporation, Rajeev chowk, New Delhi, August 09, 2019, The General Manager, Sales and Purchase Division, XYZ Pvt. Limited, Gurugram, Dear Sir/Ma’am,, Sub: Complaint against the order no. S/N-116, This is with reference to order no S/N-116 made on December 1, 20XX. The order, comprised six 2 tonne split air-conditioners of XXX brand and four 1.5 tonne window airconditioners of XYZ brand. As per the agreement, the products were to be delivered within ten, , © The Institute of Chartered Accountants of India

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28, , FOUNDATION EXAMINATION: NOVEMBER, 2019, , days of order and a representative was to be sent for installation and demo. Unfortunately, only, half the order has been delivered and no representative has visited of installation or demo., The fact that you have taken undue time and have not yet delivered the order, has caused us great, embarrassment and inconvenienced our clients. In addition we have received no correspondence, from your side explaining the delay., Kindly ensure that the remaining items of the order are delivered to us before September 12, 20XX, failing which payment will be stopped or the order cancelled., I sincerely request you to look into the matter and the needful as soon as possible., Thanks & Regards!, Ashita Bhargava, Sr. Manager, Operations and Admin Department, Chapter-11 Writing Formal Mails, Mail-1, (Value points), a) Correct receiver E-mail Id., b) Subject should be catchy/highlighted and relevant., c) Salutation, mention both –Dear Sir/Ma’am,., d) Opening paragraph state the offer., e) Offer special discount to an old valued customer., f), , Detail you trendy, stylish and durable products and affirm that you are the first in the, industry to introduce these state of art products., , g) Be persuasive in convincing customer to be the first to use the products and and thus, attract clientele., h) Mention your website where the wide range of products can be viewed., i), , Request to place order at the earliest., , Mail-2, value points., a) Correct receiver E-mail Id., b) Subject should be catchy/highlighted and relevant., c) Address should be to group- ‘Hi All’, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 29, d) Specify date and place of meeting., e) Mention time frame of completion of project., f), , State problems being faced-procuring equipment, legal problems, local people, protesting against radiation threat, getting required permission form local government, bodies etc., , g) Ask for viable suggestions-more resources, better software, longer working hours., Chapter-14 Resume Writing, 1) Cover letter, Date: August 09, 2019, To,, The HR, HCL,, 206, State Street, Mumbai-201006, Dear Sir/Ma’am,, Sub: Application for the post of Jr. Accountant, The ‘Jr. Accountant’ position described in the recent ‘Times of India’ advertisement, immediately caught my attention. I have enclosed my résumé for your consideration. I am, confident you will find that my qualifications more than meet your requirements. I am a skilled team, player with proficient in accountancy., I will communicate you next week to confirm your receipt of my résumé and answer any, preliminary questions. I look forward to a positive response., Yours Sincerely,, Abhinav Goel, Tagore Garden,, Résumé, RakhiGoel, Jr. Accountant, Mob: +91-xxxxx xxxxx, Email: [email protected], , © The Institute of Chartered Accountants of India

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30, , FOUNDATION EXAMINATION: NOVEMBER, 2019, , Date of Birth: 16 June 1986, Permanent Address: xyz nagar, Varanasi, Nationality: Indian, Marital Status: Unmarried, Academic Qualification:, S, No., , Qualification, , Subject/Stream Institute, , Board/University Year of %/Division, Passing, , 1, , CA, , CA, , ICAI, , ICAI, , 2015, , 80%/I, , 2, , Higher, Secondary, , Humanities, , BKY, New, Delhi, , CBSE, , 2012, , 76%/I, , 3, , Secondary, , Humanities, , KVS,, Saket,, New, Delhi, , CBSE, , 2010, , 68%/I, , Internship:, ➢ One year internship at IBM, Noida, form 2015-16., Professional Skills:, ➢ Accountancy, Auditing, Forensic Auditing, Corporate Law, Language Known:, ➢ English, Japanese, Hindi (Comm.), Hobbies:, Reading Books, Playing Chess, Travelling, References:, ➢ TarunaKohili, Assistant Secretory, , Dr. Raj Nath Bhatt, Professor, , ICAI, New Delhi, , Department of Linguistics, B.H.U., , Cont.: +91-xxxxx xxxxx, , Cont.: +91-xxxxx xxxxx, , E-mail: [email protected], , E-mail: [email protected], , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 31, Place: New Delhi, Date: 09.08.2019, , (Rakhi Goel), , Date: August 09, 2019, To,, The HR, ROCA, Bhiwadi, Rajasthan-243466, Subject: Application for the Post of Chartered Accountant, Dear Sir/Ma’am,, I am very interested in the ‘Chartered Accountant’ position at ROCA, advertised in, the employment news on Monday, August 06, 2019. I have more three years teaching experience, in different reputed organisations. I feel that I would be an excellent candidate., My CV is enclosed summarising where my skills and abilities have been developed. I would, welcome the opportunity to discuss my background with you further. May I have an interview with, you at your earliest convenience? Please contact me at xxxxxxxxxx or at [email protected]., I look forward to hearing from you., Thanks & Regards!!, Sincerely,, Anil Mishra, CA, , © The Institute of Chartered Accountants of India

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32, , FOUNDATION EXAMINATION: NOVEMBER, 2019, Curriculum Vitae, , Anil Mishra, Chartered Accountant, XYZ Company, NCR, Phone: +91- xxxxxxxxxx, E-mail: [email protected], Profile/ Objective:, ➢ Hardworking, punctual and dedicated individual seeking in accounting. Possesses strong, leadership and team management skills. A problem solver who is able to calmly, deescalate situations and work towards favourable outcomes for all involved. Passionate,, knowledgeable and giving., Educational Qualifications:, ➢ Completed CA in the batch 2013-17, ➢ 10+2, from CBCE, New Delhi, 2012, with 1 st Division., ➢ 10th from CBCE, New Delhi, 2010, with 1 st Division., Award/Achievements:, ➢ Got prize for standing first in Linguistics, B.A. at B.H.U., Administrative Experience:, ➢ Administrative Warden at Rajshree Institute of Management & Technology, Bareilly,, U.P., ➢ Chief Proctor at NavyugMahavidyalaya, Badshahpur, Jaunpur, U.P., ➢ Venue Coordinator in the 11 thICOSAL-11 organized by Department of Linguistics,, Banaras Hindu University from 23, Jan.-25, Jan. 2014., Professional Skills:, Accountancy, Auditing, Proficient in MS-Office & Web Browsing, English typing 40 w/m, Cultural/ Social Activities:, ➢ Participated as Volunteer in Durgotsav Puja at DKY Public School, from 2004-09, 201316., ➢ Venue Coordinator of ‘Sanskriti’ Cultural Event at DKY Public School in 2008., ➢ Actively Participated in all the major social & cultural events organized by School., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 33, Language Known:, ➢ English, Hindi, Punjabi, Marathi, (Comm.), Workshop/Training Programme/Academic Participation:, ➢ Participated in Short Term Programme (STP), on ‘Forensic Auditing’ at regional centre,, Kolkata, from 01-06 Oct., 2018., ➢ Participated in National on xyz at xyz from ……, ➢ Participated in International Lecture on “LEARN TO FIND YOUR HIDDEN TALENT”, delivered by Geshe Michael Roach, at Bharat Adhyayan Kendra, B.H.U. Varanasi,, (INDIA), on 13 Feb. 2017., ➢ Participated in Human Value “Harmony” workshop organized by IIT, B.H.U., Varanasi, from 31 Jan.-03 Feb. 2016., ➢ Participated in One-week workshop on Accounting at regional centre, Mumbai, from 12, Jan.-21 Jan. 2016., REFERENCES: Can be provided on request., DECLARATION: I solemnly declare that all the above information is correct to the best of my, knowledge and belief., Date:, Place:, , (Manish Reddy), , Chapter-13 Meetings, 1), Date: July 09, 2019, Venue: Conference Hall, 2 nd Floor,, Meeting Started at 02:00 PM, In attendance: Mr. Ram Swaminathan, Head, Sales and Marketing, Mr.Prabhu Das, Product Head,, Product lead, four members of the sales team., Mr. Ram Swaminathan, Head of Sales and Marketing informed the agenda of the meeting i.e., the, sales decline in the product., Ms. Reena Mathur, Sales lead gave a detailed analysis of the sales figures for the one year., , © The Institute of Chartered Accountants of India

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34, , FOUNDATION EXAMINATION: NOVEMBER, 2019, , Her team including Mr. A. Mr. B, Ms. C, Ms. D elaborated on the market trend target customers, and their needs., Mr. Prabhu Das, Product Head expressed concern over the matter, discussed a few changes in the, sales strategy., All the participants contented to the concerns raised and decided to submit their reports., The Head of Sales and Marketing proposed a vote of thanks and declared the next meeting to, discuss reports to be held on August 02, 2019., ATR to be submitted by July 26, 2019 to the Head Sales and Marketing., 2) Tabular Agenda, Time, , Topic, , Attendees, , Speaker, , Duration, , 08:30, AM, , Introduction, Welcome note, , Name of the, participants, , Director, Finance, , 10 Minutes, , 08:40, AM, , Speech, , Name of the, participants, , Hon’bleMr. Partner, , 25 Minutes, , 09:05, AM, , Discussion on new audit, trends, , Name of the, participants, , Sr. Manager Audit, , 25 Minutes, , 09:30, AM, , Tea/Breakfast, , Tea/Breakfast, , 10:00, AM, , Discussion on new, adapting, technology/application, , Name of the, participants, , Sr., Manager 20 Minutes, Technology/Application, , 10:20, AM, , Open house, , Name of the, participants, , All members, , 20 Minutes, , 10:40, AM, , Vote of thanks, , Name of the, participants, , Director, , 10 Minutes, , and, , © The Institute of Chartered Accountants of India, , 30 Minutes

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING, SECTION B: BUSINESS CORRESPONDENCE AND REPORTING, QUESTIONS, Chapter 1: Communication, (1) What are the language barriers in communication?, (2) How non-verbal communication is impactful in communication?, Chapter 2 :Sentence Types: Active-Passive Voice, Direct-Indirect Speech, (A) Change the following sentences into passive voice., 1., , Ram loves Sita., , 2., , They will finish the work in a fortnight., , 3., , Why did your friend write such a message?, , 4., , Who taught you Commerce?, , 5., , The examiner will give you instructions., , (B) Change the following Direct Speech into Indirect Speech., 1., , The principal said, ‘you can go’., , 2., , Ravi said, ‘The lion died in the garden.’, , 3., , Mentor said to me, ‘you are a good player.’, , 4., , She said, ‘Alas! I am undone.’, , 5., , ‘Where do you live? Asked the administrator., , Chapter 3: Vocabulary, (A) Select the suitable synonym for the given words., 1., , Indispensable, a., , 2., , Decisive, , b., , Cant, , b., , Expel, , c., , Responsible, , d., , Momentary, , c., , Sauna, , d., , Gunky, , c., , Review, , d., , Slog, , c., , d., , Innateness, , Trudge, a. Skip, , 4., , Crunchy, , Hypocrisy, a. Signifier, , 3., , b., , Conservatism, a. Behaviourism, , b. Cognitivism, , © The Institute of Chartered Accountants of India, , Toryism, , 51

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52, , FOUNDATION EXAMINATION: MAY, 2020, 5., , Besmirch, a. Tolley, , b. Sully, , c., , Honour, , d., , Enhance, , c., , Spree, , d., , Obscure, , (B) Select the suitable antonym for the given words., 1., , Abstention, a. Orgy, , 2., , Harmony, a. Hilarious, , 3., , c., , Complexity, , d. Separation, , b., , Distribution, , c., , Cogent, , d., , Credit, , b., , Poor quality, , c., , Former, , d., , Stimulus, , b., , Biddable, , c., , Docile, , d., , Inflexible, , Shoddy, a. Careful, , 5., , b. Imbroglio, , Vague, a. Disgrace, , 4., , b. Binge, , Pliant, a. Ditch, , Chapter 4: Comprehension Passages, Read the following comprehension passages and answer the following questions., Passage 1, In the present era of globalisation and liberalisation, the world has become an economic, village. The globalization of the business world, the attendant structure and the regulations,, which support it, as well as the development of e-commerce make it imperative to have a, single globally accepted financial reporting system. Several multi-national companies are, establishing their businesses in various countries with emerging economic and vice versa. The, entities in emerging economies are increasingly accessing the global markets to fulfill their, capital needs by getting their securities listed on the stock exchanges outside the country., Capital markets are, thus, becoming integrated consistent with this world -wide trend. More and, more Indian companies are being listed on overseas stock exchanges. The use of different, accounting frameworks in different countries, which requires inconsistent treatment and, presentation of the same underlying economic transactions, creates confusion for users of, financial statements. This confusion leads to inefficiency in capital markets across the world., Therefore, increasing complexity of business transactions and globalization of capital markets, call for a single set of high-quality accounting standards., High standards of financial reporting underpin the trust investors place in financial and non financial information. Thus, the case for a single set of globally accepted accounting standards, has prompted many countries to pursue either adoption or convergence of national accounting, standards with IFRS., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 53, International Financial Reporting Standards (IFRC) are considered a “principles-based” set of, standards. In fact, they establish broad rules rather than dictating specific treatments. Every, major nation is moving toward adopting them to some extent. Large number of authorities, requires public companies to sue IFRS for stock-exchange listing purposes, and in addition,, banks, insurance companies and stock exchanges may use them for their statutorily required, reports. So ever the next few years, thousands of companies will adopt the international, financial reporting standards while preparing their financial statements., Q.1. What trends are forcing capital markets across the world for integration?, Q.2. Which creates confusion for users in financial statements?, a., , Different accounting framework, , b., , Different capital market framework, , c., , Globalisation and business regulations, , d., , Development of e-commerce, , Q.3. Which is not considered as a ‘principle-based set of standards for preparation of financial, reporting?, a., , Indian Accounting Standards, , b., , International Accounting Standards, , c., , International Financial Reporting Standards, , d., , International Economic Standards, , Q.4. Which standards aretaken as basis for preparing financial statements?, a., , International Economic Standards, , b., , International Financial Reporting Standards, , c., , Standard Stock Exchange, , d., , Business structures and regulations standards, , Q.5. Why there is need for single set of global financial reporting standards?, Passage 2, In today’s IT-driven society, the success of an enterprise is heavily influence by business, intelligence. Corporate giants are becoming more dependent on business intelligence (BI), software to increase the amount of knowledge they can apply in real time and reduce the cost, of managing their business processes. As globalisation and ICT (Information and, Communication Technology) become more intertwined, the volume of data transfers among, enterprises is exponentially growing. In this perspective we can define the BI is essentially, timely, accurate, high-value, and actionable business insights, and the work processes and, technologies used to obtain them. It comprised of information that contains patterns,, , © The Institute of Chartered Accountants of India

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54, , FOUNDATION EXAMINATION: MAY, 2020, , relationships, and trends about customers, suppliers, business partners and employees. In, simple words BI refers to the process of collecting and refining information from many, sources, analyzing and presenting the information in useful ways so that users can make, better business decisions., BI has been made possible because of advances in a number of technologies, such as, computing power, data storage, computational analytics, reporting and networking. IT provides, an approach for solving business problems with a framework for managing tactical and, strategic operations performance. From the perspective of decision-making, BI uses data, about yesterday and today to facilitate making better decisions about tomorrow. This is done, through various means such as selecting the right criteria to judge success, locating and, transforming the appropriate data to draw conclusions, or arranging information in a manner, that best provides insights into the future thus making enterprises to work smarter. BI enables, managers to see things with more clarity and empowers them to peek into the possible future., Q.1. To sustain in the business world for decision making and selecting the criteria of, succeed, corporate giants are more depended on ____________, a., , IT-driven society, , b., , Business Intelligence software, , c., , Strategic Operation Performance, , d., , Reporting and Networking, , Q.2. The write uses the term BI to define –, a., , Increasing the amount of knowledge in business world, , b., , Empowers business for future perspective, , c., , Particularly arranging information in business manner, , d., , Appropriate work processes and technology-based business, , Q.3. What are the basic requirements of BI?, Q.4. What is the process of BI?, Q.5. BI is used for _______, Chapter 5: Note Making, Read the following passage/news story and make proper notes followi ng the guidelines of, Note making. (Source: internet/newspaper article), Money is the centre of every economic transaction and plays a significant role in all, economies. It refers to assets which are commonly used and accepted as a means of, payments or as a medium or exchange or of transferring purchasing power. For policy, purposes, money may be defined as the set of liquid financial assets, the variation in the stock, of which will have impact on aggregate economic activity. Money has generalised purchasing, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 55, power and is generally acceptable in settlement of all transactions and in discharge of other, kinds of business obligations including future payments. Anything that would act as a medium, of exchange is not necessarily money. For example, a bill of exchange may also be a medium, of exchange, but it is not money since it is not generally accepted as a means of payment., Money is totally liquid asset as it can be used directly, instantly, conveniently and without any, costs or restrictions to make payments. At the fundamental level, money provides us with a, convenient means to access goods and services., As we know, money performs many functions in an economy. As such as, money is a, convenient medium of exchange or it is an instrument that facilitates easy exchang e of goods, and services. Money, though not having any inherent power to directly satisfy human wants,, by acting as a medium of exchange, it commands purchasing power and its possession, enables us to purchase goods and services to satisfy our wants. It is an explicitly defined unit, of value or unit of account because money is a ‘common measure of value’ or ‘common, dominator of value’ or money functions as a numeraire. We know, Rupee is the unit of account, in India in which the entire money is dominated. The monetary unit is the unit of measurement, in terms of which the value of all goods and services is measured and expressed. Money, serves as a unit of standard of deferred of payment i.e., money facilitates recording of, deferred promises to pay. Money is the unit in terms of which future payments are contracted, or stated. However, variations in the purchasing power of money due to inflation or deflation,, reduce the efficacy of money in this function., So, we can say, money also functions as a permanent store of value. There are many other, assets government bonds, despite of other securities, land, houses, etc. which also store, value. Despite having the advantages of potential income yield and appreciation in value over, time, these other assets are subject to limitations such as storage costs, lack of liquidity and, possibility of depreciation in value. The effectiveness of an asset as a store of value depends, on the degree and certainty with which the asset maintains its value over time. Hence, in order, to serve as a permanent store of value in the economy, the purchasing power or the value of, money should either remain stable or should monotonically rise over time., Or, Note making (2), The meaning of the term ultra vires is simply “beyond (their) powers.” The l egal phrase “ultra, vires” is applicable only to acts done in excess of the legal powers of the doers. The, presupposes that the powers in their nature are limited., It is a fundamental rule of a Company Law that the objects of a company as stated in its, memorandum can be departed from only to the extent permitted by the act, thus far and no, further. In consequence, any act done, or a contract made by the company which travels, beyond the powers not only of the directors but also of the company is wholly void a nd, inoperative in law and is therefore not binding on the company. On this account, a company, can be restrained from employing its fund for purposes other than those sanctioned by the, memorandum. Likewise, it can be restrained from carrying on a trade different from the one it, , © The Institute of Chartered Accountants of India

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56, , FOUNDATION EXAMINATION: MAY, 2020, , is authorized to carry on., The impact of the doctrine of ultra vires is that a company can neither be sued on an ultra, vires transaction, nor can it sue on it. Since the memorandum is a “public document”, it is, open to public inspection. Therefore, when one deals with a company one is deemed to know, about the powers of the company. If in spite of this you enter into a transaction which is ultra, vires the company, you cannot enforce it against the company., If you have supplied goods or performed service on such a contract or lent money, you cannot, obtain payment or recover the money rent. But if the money advanced to the company has not, been expended, the lender may stop the company from parting with it by m eans of an, injunction; this is because the company does not become the owner of the money, which is, ultra vires the company. As the lender remains the owner, he can take back the property in, specie. If the ultra vires loan has been utilised in meeting lawful debt of the company, then the, lender steps into the shoes of the debtor paid off and consequently he would be entitled to, recover his loan to that extent from the company., An act which is ultra vires the company being void, cannot be ratified by the shareholders of, the company. Sometimes, act which is ultra vires can be regularised by ratifying it, subsequently. For instance, if the act is ultra vires the power of the directors, the shareholders, can ratify it; if it is vires the articles of the company, the company can alter the articles; if the, act is within the power of the company but is done irregularly, shareholder can validate it., Chapter 7: Précis Writing, (1) Read the following passages and write a précis for the same., A mere 14 per cent of the 58.3 million business in operations in India when the Sixth, Economic Census was carried out in 2013-14 were owned by women, across formal and, informal sectors in both rural and urban India. This is not a flattering statistic. A sizable, number of the 8.05 million women-owned business -over 83 per cent- did not have any hired, workers; the corresponding number for male-owned business was about 70 per cent. Also, on, average, women-run businesses are smaller than those run by men. However, there are many, shining examples of women entrepreneurs who have not only set up successful ventures but, have also carved out a niche for themselves. Kiran Mazumdar Shaw is one such women, entrepreneur. There are also some who gave up very successful corporate careers to turn, entrepreneurs such as Falguni Nayar, a well-regarded investment banker who set up an ecommerce venture as she was turning 50 years of age. There are also the likes of Ritu, Dalmia, who broke out of conservative industrialist families, to venture into the wor ld of, gourmet food and fine dining with a chain of restaurants. Each of them is trailblazer and an, inspiration for others. More recently, the start-up boom in India has seen many young,, professionally qualified women taking the plunge. Self-help groups and non-profit focusing on, skill development in rural areas have helped women entrepreneurs bloom. Setting up a, business is not easy in India. It is even tougher for a woman. A would-be woman entrepreneur, has to overcome socio-cultural biases, which requires her to prioritize home and family above, all else and sacrifice her own aspirations. Access to finance is that much more difficult,, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 57, whether from formal banking channels or from venture capitalists. Managing a male workforce, entrenched in a patriarchal society poses its own challenges. Many men are not supportive of, womens’ ambitions and even attempt to break their confidence. Another problem unique to, women is their failure to network with business associates as easily as men. Policy, interventions have tended to be sporadic, superficial or poorly thought through, like the, Centre’s failed experiment with a women-only bank., However, these issues are addressable. Mentoring of women entrepreneurs by specialist in, various fields can encourage women who are tentative about taking that first step. Networking, platforms for women entrepreneurs can provide some support. Most of all, socio -cultural, changes need to be engineered to encourage women to set up business ventures., (Source: Business Line), Précis Writing- 2, Several spiritual philosophies contain the notion of an inner ‘third eye’, related to the pineal, gland, to which is attributed significance in mystical awakening or enlightenment, higher states, of consciousness and extrasensory perception (ESP). Mention of this is found historically in, ancient Central and East Asia and also in contemporary metaphysical theories relating to, yoga.A neurologist in Jaipur claims to have found new evidence throwing light on interactions, between a physical brain and a non-physical consciousness which leave an impact on human, thought, emotion and behaviour. These psychic phenomena are linked with the ‘third eye’, he, says.Dr. Ashok Panagariya, recipient of the prestigious B.C. Roy Award, says that the studies, on the two functional units of brain and consciousness and new understanding of psychic, phenomena may lead humankind to the ability to induce ESP at will. Pineal gland studies hold, a great futuristic link between human and superhuman experiences., Pineal gland, being the only singular structure in the brain and having a strategic position, between the two halves, is believed to connect between intellect and the body. This ‘third eye’, could be activated to spiritual world frequencies, enabling a person to have the sense of all, knowing, godlike euphoria and oneness all around him, says Dr. Panagariya.Once tuned into, proper frequencies with the help of meditation, yoga or various esoteric and occult methods,, pineal gland can also enable a person to travel into other dimensions, popul arly known as, astral travel, cosmological projection or remote viewing.Dr. Panagariya, formerly the Principal, of Sawai Man Singh Government Medical College in Jaipur, has pointed out that the recent, developments in parapsychology and neuroscience have revealed new clues about the way, ESP and other psychic abilities are processed by the brain. “Science is providing some, answers about the structure or physiology of brain which makes parapsychological reception, possible.”, “The most astounding discovery of all is that the brain produces a parapsychology enhancing, neurotransmitter,” says Dr. Panagariya while referring to a class of substances known as beta carbolines which are secreted from the pineal gland. He says this neurochemical is only, produced at night and breaks down into melatonin, another substance which has been, associated with psychic experiences., , © The Institute of Chartered Accountants of India

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58, , FOUNDATION EXAMINATION: MAY, 2020, , Dr. Panagariya, presently a member of the Rajasthan State Planning Board, has in his study, referred to another recent discovery of interest to psychic researchers proving that the human, brain contains magnetite (ferrous oxide), which renders the brain sensitive to the Earth’s, magnetic fields., “It has long been known that birds and other animals use magnetite in their brains to aid in, navigation. Magnetite is especially concentrated in the pineal gland and the temporal lobes,”, says Dr. Panagariya, offering scientific explanation to the spiritual, mystical and paranormal, experiences., (Source: The Hindu), Chapter 8: Article Writing, (1) Scheme of Indian Government for Women empowerment, (2) Language is species specific, Chapter 10: Letter Writing, (1) Write a letter from XYZ Group for enquiry about the catering services., (2) Write a letter of promotion for opening new branch of the XYZ Bank., Chapter 11: Formal Mails, (1) Write a mail to Abhishek Mittal, congratulating him for the promotion as a marketing, manager in the organisation. You are Mr. Alok Prakash, manager of the IT department., (word limit: 150-200), (2) Write a mail to Ms. Rakhi Mandal, reminding her of a business contract you have sent to, her regarding providing infrastructure maintenance services to her company ‘Manet, Solutions’. You are Mr. Santosh Gupta, Business Head of JP Infrastructures. (word limit:, 150-200), Chapter 12: Résumé Writing, 1., , You are Prashant Kumar/Laxmi Ahuja, a resident of Juinagar, Mumbai. You have, recently come across an advertisement in Hindustan Times (News Paper) for Trainee, Article in Finance at S.R. Pvt Ltd. Draft a cover letter in response to the advertisement, and enclose your Curriculum Vitae., , 2., , You are Shikha/Ashutosh. You are applying for Industrial Trainee Articles at GAIL Ltd., Write a Cover Letter and attach your curriculum vitae (CV)., , Chapter 13: Meetings, 1., , Your Company is launching a new product in the next year. Prepare the minutes of the, meeting for the same. Members in the meeting; Head of the Sales and Marketing,, Product head, and concerned Team Member., , 2., , As an employee of an academic institute, prepare the agenda of an upcoming partner’s, visit in tabular format., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 59, SUGGESTED ANSWERS/HINTS, Chapter 1: Communication, Answer, (1) As we know, lacking language knowledge can create impediment in communication., Language varies individual to individual, place to place, region to region, and country, wise. Same words may have different meaning in other language. Even jargon, unfamiliar, expressions, and ambiguous words create hurdles in communication. This is fact that no, two people speak or write alike. Some people use well-formed words while some of them, is used ill-formed words., (2) Non-verbal communication is more impact in communication. Meanwhile, the primary, function of language is communication, but we can communicate without language. Some, of the functions of nonverbal communication in humans are to complement and illu strate,, to reinforce and emphasize, to replace and substitute, to control and regulate, and to, contradict the denoted message. These are the following non-verbal cues:, Physical: It includes facial expressions, stance, gestures, tone, distance in communication,, time dimension, haptics etc. For example, leaning forward may mean friendliness, acceptance, and interest, while crossing arms can be interpreted as antagonistic or defensive posture., Smiles, frowns, pursing of lips, clenching of hands etc. transmit emotions which are not, expressed through verbal communication., Paralanguage: It contains the how of the sender’s voice or the way he/she speaks. In other, words, The way we say something, more than the actual words use, reveal the intent of the, message, the voice quality, volume, intonation, pitch, stress (e.g., primary stress ˈ, secondary, stress ˌ, long stress ː, half long ˑ , extra short) tone (e.g., extra high §“, high é, mid ē, low è,, extra low ȅ, down step ↓, upstep↑) and way of speaking, communicates approval, interest or, lack of it. It changes the meaning of words., For exampleStress on d- Proˈduction become Noun, Stress on p- ˈProduction become Verb, Aesthetic: Art forms such as dancing, paintings, sculptors, music are also means of, communication. It conveys the ideas and thoughts of the artist., Appearance: It is usually the first thing noticed about the person. A well dressed and groomed, person is presumed to be organised and methodical, whereas a sloppy or shabby person fails, to make a favourable impression., Hence, through non-verbal communication, we send and responds to thousands of messages, daily in personal and work lives., , © The Institute of Chartered Accountants of India

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60, , FOUNDATION EXAMINATION: MAY, 2020, , Chapter 2 Sentence Types: Active-Passive Voice, Direct-Indirect Speech, Answer, (A) Active-Passive Voice, 1., , Sita is loved by Ram., , 2., , The work will be finished by them in a fortnight., , 3., , Why was such a message written by your friend?, , 4., , By whom were you taught Commerce?, , 5., , Instructions will be given to you by the examiner., , (B) Direct - Indirect, 1., , The principal said that we could go., , 2., , Ravi said that the lion had died in the garden., , 3., , Mentor told me that I was a good player., , 4., , She exclaimed sadly that she was undone., , 5., , The administrator required where I lived., , Chapter 3: Vocabulary, Answer, (A) Select the suitable synonym for the given words., 1-, , (a), , 2-, , (b), , 3-, , (d), , 4-, , (c), , 5-, , (b), , (B) Select the suitable antonym for the given words., 1., , (c), , 2., , (b), , 3., , (c), , 4., , (a), , 5., , (d), , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 61, Chapter 4: Comprehension Passage, Answer: Passage 1, 1., , Globalisation, liberalisation, development of e-commerce and emerging global markets, are forcing capital markets across the worldwide for integration., , 2., , (a), , 3., , (b), , 4., , (b), , 5., , Increasing complexity of business transactions and globalisation of capital markets call, for a single set of high-quality accounting standards., , Answer: Passage 2, 1., , (b), , 2., , (d), , 3., , The basic requirements of BI is timely, accurately, high-value, and actionable business, insights, and the work processes and technologies used to obtain success., , 4., , BI refers to the process of collecting, refining, analyzing, and presenting the information, for making better business decisions., , 5., , (c), , Chapter 5: Note Making, Answer, Money Market, 1., , 2., , Wht is Mny?, 1., , a., , Rfrs to Ast, , 1., , b., , Lqd Ast, , 1., , c., , Elctrnc Rcd, , Fncns of Mny, 2., , a., , Mdm of Excng, , 2., , b., , Unt of Vlu, , 2., , c., , Unt of Stndrd, , 3., , Types of Ast, , 4., , Vlu of Ast, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 63, Key:, Ntr- Nature, Ult- Ultra, Vrs- Vires, Mng- Meaning, Lmt- Limitation, Comp- Company, Fnd- Fundamental, Cont- Controlling, Mrdm- Memorandum, Trns- Transaction, Utl- Utilisation, Chapter 7: Précis Writing, (1) Answer: Women in entrepreneurship, According to the sixth Economic Census 2013-14, only 14% of the businesses in India are, owned by women and are smaller as compared to men owned businesses. Out of these, 83%, do not have any hired workforce. However, many women entrepreneurs have carved a niche, for themselves these are Kiran Mazumdar Shaw, Falguni Nayar and Ritu Dalmia. Self help, groups and NGOs have helped women entrepreneurs in the rural sector. Still due to socio cultural biases, it is onerous for married women in India to be an entrepreneur. Managing a, male workforce and accessing financial support are even bigger challenges. Policy, interventions, mentoring women entrepreneurs by specialists can encourage women who, intend to foray into entrpreneurship and specialized networking platforms for women can, provide the much-needed support., (2) Answer: The ‘third eye’ connection, The notion of the third eye or heightened consciousness, Extra Sensory Perception(ESP), or, enlightenment is attributed to pineal gland. It is located between the two halves of the brain, and connects the intellect and the body. Acording to Dr. Panagariya a neurologist based in, Jaipur, this third eye can be activated to spiritual world frequencies with the help of Yoga and, meditation to enable a person experience astral travel, remote viewing and cosmological, projection. He said that the pineal gland contains magnetite and secretes Beta Carbolines that, breaks down into melatonin which are associated with spiritual, psychic and paranormal, experiences., , © The Institute of Chartered Accountants of India

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64, , FOUNDATION EXAMINATION: MAY, 2020, , Chapter 8: Answer, 1), , 2), , Hints:, ➢, , The government has initiated many schemes for safety of women., , ➢, , BetiBachaoBetiPadhao Yojana: This scheme was launched in Panipat, Haryana on, January 22, 2015., , ➢, , Mahila-E-Haat: It is a bilingual online marketing platform which is launched by the, Ministry of Women and Child Development in 2016., , ➢, , Mahila Shakti Kendra: It was launched to empower rural women with opportunities, for skill development, employment, digital literacy, health and nutrition., , ➢, , Working Women Hostel: It was launched to ensure availability of safe, convenient, for working women who has less than 50K/month income in metropolitan and 35K/m, in any other place., , ➢, , Support to Training and Employment Programme (STEP): It was set up to p rovide, skills, competencies and training to become entrepreneurs., , ➢, , Sukanya Samriddhi Yojana: It is a government-backed saving scheme for girl, children., , Hints:, ➢, , Only human beings possess language., , ➢, , Non-human has various degrees of the communication system., , ➢, , Language is a biological gift to human beings., , ➢, , Animals may have few words or a limited range of domains., , ➢, , Human language is creative and unpredictable., , ➢, , Human being has a phonological and grammatical system., , ➢, , A human being can create and understand new utterances., , ➢, , A human being can refer to the past., , ➢, , A human being can teach or learn a language., , ➢, , Some non-human species have a system of sounds., , ➢, , Chimpanzees are able to learn human sign language., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 65, Chapter 10: Letter Writing, Answer-1, XYZ Ltd, A-78, AH-Block, Tagore Garden, New Delhi- 27, 11 December, 20XX, Proprietor, Jashn Catering, 60, Karole Bagh, New Delhi-05, Dear Mr. Sunil, Subject: Regarding Enquiry about Catering Services, With reference to your advertisement in the Times of India, dated November 26, 20XX, we, wish to enquire about your catering services. Our company is celebrating its golden jubilee in, the month of January 2020. In this regard, we are looking for somebody wh o would cater for, our celebrating dinner., We are expecting around 600 guests and employees during the event. It will be a formal meet, and we will need full catering services that includes several courses, desserts, ten waiters and, five helpers., Kindly provide us the details of the following:, ➢, , Whether you provide for waiters and hosts, , ➢, , Offers and discounts available, , ➢, , The menu options and charges, , ➢, , If there are any additional charges levied for linens, centerpiece, etc., , Kindly provide the complete details with rates by Oct 15 XXXX., Thanks & Regards!, Mr. Vivek Goyal, Administration, XYX Ltd, , © The Institute of Chartered Accountants of India

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66, , FOUNDATION EXAMINATION: MAY, 2020, , Answer-2, XYZ Bank, Sector-19, Nerul, Navi Mumbai-06, 10 December, 20XX, Chief Finance Officer, XP Ltd, Dadar, Mumbai-14, Dear Sir/Ma’am,, Subject: Opening of our New Branch at Nerul, Navi Mumbai, We are happy to announce the grand opening of our bank’s 150 branch in the Nerul, Navi, Mumbai., As a privileged customer, we are pleased to offer you extra benefits for an account opening in, the new branch., The new branch has locker facility and six ATM machines in your area. In view of our longterm association, we would not charge you any fees for locker facility., Kindly visit the new branch. Contact details are given below:, 88, Jame Jamshed Road, Dadar, Ph.: 011-255-90000, Mumbai-14, Yours, R.P. Aneja, (Brach Manager), , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 67, Chapter-11: Formal Mails, Answer-1, To: Abhishek Mittal, CC/BCC, Subject: Congratulations on Your Promotion, Dear Abhishek, I just got to hear of your promotion to the post of Marketing Manager. Please accept my, heartiest congratulations., You truly deserve the recognition and responsibility of the position. Your dedication and hard, work have been rewarded. All your team members are elated at your selection. As you would, know, promotion comes along with new target, tasks and challenges. I hope that you shall, exceed all expectations., We are all looking forward to a grand party from you at your earliest convenience., Regards,, Alok Prakash, Head, Department of the Information Technology, OrAnswer-1, Value Hints:, a., , Subject: Regarding Congratulating on Your Promotion, , b., , Greetings, , c., , Opening paragraph on congratulations, , d., , Appreciate for promotion, , e., , Appreciate for dedication and hard work, , f., , Motivation for new challenges, , g., , Closing with demanding party and polite words, , © The Institute of Chartered Accountants of India

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68, , FOUNDATION EXAMINATION: MAY, 2020, , Answer-2, Value Hints:, a., , Subject: Regarding the Providing Infrastructure Maintenance, , b., , Greetings, , c., , Remind that you had sent the contract on x date and no reply has been received till date., , d., , Mention date of meeting and discussion of details of contract, , e., , Ask if any further details/clarifications required from your side., , f., , Seek meeting to discuss any issues that have come up., , g., , In case, all is well you would appreciate it if the contract is signed and mailed to you., , Chapter: 12- Résumé Writing, Answer: 1, A-12F-Block,, C-16/A, Sector-04, Juinagar, Navi Mumbai- 400705, [email protected], 09 December, 20XX, The HRD, S.R. Pvt Ltd., Andheri East, Mumbai- 400069, Dear Sir/Ma’am,, Subject: Application for the Post of Trainee Finance, This is with reference to your advertisement in ‘Hindustan Times’ dated 06 December, 20XX,, for the post of Trainee Finance in your organization. I wish to apply for the same., I am conscientious, punctual and open to learning. I have just completed CA Intermediate from, ICAI. I am looking for positions as Trainee (Finance/Tax/Audit) for articleship. If given the, opportunity, I am open to learning and prepared to work hard to enrich my knowledge., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 69, I am enclosing my résumé herewith for your reference. I shall be available for an interview, through online or face to face on any day of your convenience., I look forward to a positive response!, Your Sincerely,, Prashant Kumar, Enclosure:, 1., , Résumé, Curriculum Vitae, , RAVI PRAKASH GOEL, A-12F-Block,, C-16/A, Sector-04, Juinagar, Navi Mumbai- 400705, Mob.: +91-XXXXX XXXXX, Email: [email protected], Profile:, ➢, , Hardworking, punctual, strong team player, , ➢, , Confident working with computers and technology, , Educational Qualifications:, S. Examination /, No. Degree/Course, , Subject /, Stream, , Institute /, College, , Board /, Year of, University Passing, , 1, , CA Intermediate, , Finance,, Taxation,, Auditing, , ICAI,, Delhi, , 2, , Higher Secondary Commerce St., Holly CBSE, Public School,, Mumbai, , 2014, , 87%, , 3, , Secondary, , 2012, , 85%, , New ICAI, New, Delhi, , Commerce St., Marry CBSE, Public School,, Mumbai, , © The Institute of Chartered Accountants of India, , Percentage/, Division, , Nov 2019 65%

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70, , FOUNDATION EXAMINATION: MAY, 2020, , Professional Skills:, ➢, , Finance, Taxation, Auditing, , Intrapersonal Skills:, ➢, , Excellent Communication Skills, , ➢, , Highly organized and efficient, , ➢, , Ability to work independently, , ➢, , Ability to work in team, , ➢, , Proven leadership skills and ability to motivate, , Language Known:, ➢, , English, Hindi, Marathi (Comm.), , Hobbies:, ➢, , Reading Novels, Travelling, Interacting with people, , Personal Details:, ➢, , Father’s Name:, , XYZ, , Mother’s Name:, , XYX, , DoB:, , XYZ, , Gender:, , Male, , Nationality:, , XYZ, , Marital Status:, , Single/Married, , References:, Tripti Sharma, , CA. Sanjay Mishra, , Assistant Professor, , XYZ Associates,, , ABC College of Commerce, XYZ University, Email:[email protected], , Email: ******@gmail.com, , Declaration: I solemnly declare that the above information is correct to the best of my, knowledge and belief., Date: XX December, 20XX, Place: Mumbai, , © The Institute of Chartered Accountants of India, , (PRASHANT KUMAR)

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 71, Answer: 2, F-26 E, Sector-11, Kavi Nagar, Ghaziabad- 02, Email: [email protected], 16 December, 2019, The HRD, Natural Gas Transmission Company (GAIL), New Delhi-01, Dear Sir/Ma’am,, Subject: Application for the Post of Industrial Trainee(Articles), This is with reference to your advertisement on the website in career column for the post of, Article Trainee at GAIL. I have just completed second year of my articleship from ABC, associates, a reputed firm and completed CA Intermediate in November 2017 in the first, attempt., I am keen to learn, focused and target oriented., I will be ready available for a personal interaction any time as per your convenience., I look forward to a positive reply., Your Sincerely,, Shikha Kumari, Enclosure:, 1., , Curriculum Vitae, , Shikha Kumari, XYZ Company, Ghaziabad-06, Phone: +91- XXXXX XXXXX, E-mail: [email protected], , © The Institute of Chartered Accountants of India

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72, , FOUNDATION EXAMINATION: MAY, 2020, , Profile/ Objective:, ➢, , Sincere, honest, punctual and devoted professional with a zest of learning. Seeking a, position that provides substantial learning opportunities and exhorts me to take up, challenges/initiatives and learn from them thereby creating and adding value to the te am, as well as the organization, , Educational Qualifications:, ➢, , Completed 2 years of articleship from XYZ company in December 2019., , ➢, , Completed CA Intermediate in Nov 2017., , ➢, , 10+2, from CBCE, New Delhi, 2012, with higher 1st Division., , ➢, , 10th from CBCE, New Delhi, 2010, with higher 1st Division., , Achievements:, ➢, , Got prize for standing first in National Quiz at XW Org in 2015., , Language Known:, ➢, , English, Hindi, Punjabi, Marathi, (Comm.), , Workshop/Training Programme/Academic Participation:, ➢, , Participated in International Conference at Pune in December 2019., , ➢, , Participated in International Lecture on “LEARN TO FIND YOUR HIDDEN TALENT”, delivered by Geshe Michael Roach, at Presidency College, Kolkata, (INDIA), on 13 Feb., 2017., , ➢, , Participated in Human Value “Harmony” workshop organized by IIT, Delhi, Varanasi from, 31 Jan.-03 Feb. 2016., , ➢, , Participated in One-week workshop on Accounting at regional centre, Mumbai, from 12, Jan.-21 Jan. 2016., , ➢, , Participated in one-week training programme on Accountancy, Mumbai from 4 Dec.-23, Dec. 2014., , Declaration: I solemnly declare that all the above information is correct to the best of my, knowledge and belief., Place: New Delhi, Date: 12.12.20XX, , © The Institute of Chartered Accountants of India, , (SHIKHA KUMARI)

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PAPER – 2 : BUSINESS LAWS & BUSINESS CORRESPONDENCE AND REPORTING 73, Chapter-13: Meetings, Answer-1, Date: 16 December 20XX, Venue: Conference Room, II Floor, Meeting Started at 04:00 P.M., Mr. A, Head of the Sales and Marketing, gave an introduction and purpose of the meeting., Mr. B, Product head spoke about the new product., Ms. C, Regional Manager, Business, gave a detailed project report. (market surveys, future, aspects challenges included)., Participants approved of Ms. C’s report. Appreciated he meticulous detailing., Mr. D, Marketing Head discussed the market scenario, demand and supply and customer, interest., Mr. E, Head Finance, gave details of costing, Finance team led by Mr. F, Mr. G, and Ms. H were, part of the presentation., The Head, Sales and Marketing declared an open house for participants to put up their, concerns, and finally gave a vote of thanks., Proposals for more funds put forward., Tender to be released., ATR will be submitted by 22 December, 20XX., Answer-2, Tabular Agenda, Time, , Topic, , Attendees, , Speaker, , 10:30 AM, , Introductory, Director, Registrar, Director, meeting, and Exam In-charge, Institute, Welcome Note, Senior Faculty (all, depts.), , 10:40 AM, , Speech, , 11:05 AM, , Discussion, on Director,, new courses and Faculty, departments, , Duration, of, , the 10 Minutes, , Director, Registrar, Hon’ble Mr. Partner 25 Minutes, Exam In-charge,, Senior Faculty (all, depts.), , © The Institute of Chartered Accountants of India, , Senior Head, Department 25 Minutes, of the (subject)

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74, , FOUNDATION EXAMINATION: MAY, 2020, , 11:30 AM, , Brunch, , Brunch, , 12:00 Noon, , Need, to, the Director, Registrar Prof. X,, Course/scope, Senior Faculty, Expert, , 12:20 PM, , Open House, , Director, Registrar All members, Senior Faculty, , 12:40 PM, , Vote of thanks, , Director, Registrar Director, Senior, Faculty, Institute, Partner(Mgmt), , © The Institute of Chartered Accountants of India, , Bruch, , 30 Minutes, Subject 20 Minutes, , of, , 20 Minutes, the 10 Minutes

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12, , FOUNDATION EXAMINATION: NOVEMBER, 2020, SECTION -B: BUSINESS CORRESPONDENCE AND REPORTING, , Chapter-1 Communication, 1., , How do technology barriers affect communication? Explain., , 2., , Describe the term "paralanguage', a mode of communication., , 3., , Non-verbal is also one of the Broad Categories of Communication? Explain., , 4., , Define the areas where chain network of communication is found in an organisation., , Chapter-2 Sentence Types, Direct/Indirect, Active /Passive, 1., , 2., , 3., , 4., , Change the following sentences from active to passive., a., , Miraya paid the bills., , b., , Have they left the apartment?, , c., , She is disturbing Dinesh., , d., , Will you mop the floor?, , e., , Vidhi had not received the parcel., , Change the following sentences from passive to active., a., , An article has not been written by Radhika., , b., , I was being watched by her., , c., , Fifty thousand had been paid by me., , d., , Were you recognised by her?, , Change the following sentences into indirect speech., a., , Rahul asked me, ‘Did you see the cricket match on TV last night?’, , b., , James said to his mother, ‘I am leaving for New York tomorrow.’, , c., , I said to him, ‘Why don’t you work hard?’, , d., , He said to her, ‘What a hot day!’, , e., , The priest said, ‘Be quiet and listen to my words.’, , Change the following sentences into direct speech., a., , His father says that honesty is the best policy., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAW & BUSINESS CORRESPONDENCE AND REPORTING, b., , He inquired whether his name was Khalid., , c., , Raj said he was teaching English online., , d., , The father warned his son that he should be beware of him., , 13, , Chapter-3 Vocabulary, 1., , In the following question, out of the four alternatives, select the one which best expresses, the best meaning of the given word., 1., , Valour, (a) Nervousness (b), , 2., , Cowardice (c), , Enigmatic, (a) Respectable (b) Mysterious (c), , 3., , Conclusive, , (b) Indecisive, , (c), , Conclusion, , (d), , Decision, , (b), , Celebration (c) Attraction, , (d) Dismay, , (b), , Enmity, , (d) Disgrace, , Ignominy, (a) Attraction, , 2, , (d) Clever, , Consternation, (a) Alert, , 5., , Widespread, , Inconclusive, a), , 4., , Fearlessness (d) Energetic, , (c) Assistance, , In the following question, out of the given four alternatives, select the one which is opposite, in meaning of the given word., 1., , Heckle, (a) Embarrass, , 2., , (b) Highlight, , (c), , Cheer, , (d) Harass, , (b), , Unique, , (c), , Unwilling, , (d) Flexible, , (a) Enthusiastic (b) Slothful, , (c), , Enervated, , (d) Apathetic, , Derogatory (c), , Offensive, , (d) Complimentary, , Adamant, (a) Glittering, , 3., 4., , Lackadaisical, Obscene, (a) Indecent, , 5., , (b), , Obdurate, (a) Empathetic, , (b) Inconsiderate, , © The Institute of Chartered Accountants of India, , (c), , Heedless, , (d), , Virulent

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14, , FOUNDATION EXAMINATION: NOVEMBER, 2020, , Chapter 4 Reading Comprehension, Passage 1, My father Janab Avul Pakir Jainulabdeen gave me a lesson when I was a young boy. What was, that lesson? My father was elected the President of Rameshwaram Panchayat Board. I was at, that time studying in school. Those days we did not have electricity and we used to study under, ration kerosene lamps. I was reading a lesson loudly when I heard a loud knock on the door., Someone then came in and asked me where my father was. I told him, my father had gone for, evening prayers. He said, ‘I have brought something for your father, can I keep it here?’ I a sked, him to keep it on the cot. He placed a tombalum (gift box) on the cot and left., When my father came back and saw the tombalum (gift box), he asked, ‘what is this? Who has, left this?’ I told him that in his absence someone had come and left it for him. My father opened, the cover of the tombalum and found there was costly dhoti, angvastram, some fruits, some, sweets and a note that the person had left behind. My father was furious. That was the first time, I saw his anger and also the first time that he beat me. I was the youngest in the family and he, loved me very much. I got frightened and started weeping. Then he came and touched my, shoulder lovingly with affection and advised me not to receive any gift without his permission., He quoted an Islamic Hadith that states, “When the Almighty appoints a person to a position he, can take care of his provision. If a person takes anything beyond that it is an illegal gain”. Then, he told me that it is not a good habit. Gift that is accompanied by some other purpose i s a, dangerous thing. It is like touching a snake and getting poison in return., 1., , 2., , 3., , Why did the boy’s father get angry over him?, a), , The boy was disobedient, , b), , The boy answered back, , c), , The boy agreed to keep gifts without father’s permission, , d), , All of the above, , What according to the passage is ‘like touching a snake and getting poison in return’, a), , Accepting gifts, , b), , Accepting orders, , c), , Accepting God’s way of doing things, , d), , Accepting gifts offered with some hidden purpose, , Which line in the passage shows that the boy and his family belong to an era where basic, facilities were not available, a), , He was studying in ration kerosene lamps as there was no electricity, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAW & BUSINESS CORRESPONDENCE AND REPORTING, , 4., , 5., , b), , He was studying loudly, , c), , His father used to wear Dhotis, , d), , The family used to receive costly gifts, , 15, , Select the option that can be a suitable title for the passage, a), , The Divine Gift, , b), , The gift of Gab, , c), , Accept gifts in good spirit, , d), , Never take gifts, , What is the main theme of the passage?, a), , A lesson learnt by the author as a boy, by his father, , b), , We should study loudly for better understanding, , c), , Accepting gifts is fun, , d), , Fathers always love their children, , Passage 2, In Super bazaars in Delhi, the prospective buyer expects to find the price of an article displayed, or to be told definitely what the price is. He assumes that this is the low est price that will be, accepted and if he thinks the price excessive or beyond his means, he shrugs his shoulders and, walks away, dissatisfied or disappointed. He does not attempt to bargain unless he is usually, brazen faced or thick skinned-for his efforts would be met by an incredulous stare or by a cold, and possibly rude reply. Even, if his features showed mild annoyance or surprise he would, expect to be told that if the price was unacceptable, he could try elsewhere- a course offering, slight chances of success. The manager in a Super bazaar does not make the goods himself:, he is supplied by manufacturers or wholesale dealers on terms that allow little variation from, shop to shop; and for most articles in regular demand there is a ‘ market price’ over which the, seller has little control., There are many other towns where the shopkeeper himself may be and often is importer and, producer, wholesale dealer and retailer. There is no standard ‘market price’ for the merchandise, which he has to offer. He cannot know how keen the demand is, how abundant the supply or, what his goods will fetch except by the offers made to him by prospective customers. He can, assess the fair market value of what he has to sell only by actual experiment. Therefore, he, begins by demanding an exorbitant price immensely above that for which he will eventually sell;, and the bargain is not concluded until he and his customer have spent much time on eloquent, gestures and arguments. The shop keeper gradually reduces his original price until he a nd his, , © The Institute of Chartered Accountants of India

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16, , FOUNDATION EXAMINATION: NOVEMBER, 2020, , customer arrive at a compromise agreeable to them both. The price thus agreed on , may or, may not represent the intrinsic worth of the article sold but does reflect its market value in, relation to the existing condition of supply and demand., 1., , 2., , 3., , 4., , 5., , Find the word from the passage that means ‘inflated’ a), , Abundant, , b), , Exorbitant, , c), , Intrinsic, , d), , Unacceptable, , What does the phrase ‘incredulous stare’ mean?, a), , Insulting words, , b), , Feeling of jealousy, , c), , Praising comments, , d), , Unbelievable look, , Which of the following is true according to the passage?, a), , The manager of the Super bazaar makes the goods, with his team members., , b), , The manager is supplied the goods by the manufacturers., , c), , The manager is supplied the goods by the wholesale dealers., , d), , Both b and c, , The final price at which a product is sold depends on a), , The raw material, , b), , The existing condition of supply and demand, , c), , The abundance of the wholesalers, , d), , None of the above, , What does the buyer do in case he finds the price of a product higher?, a), , He shrugs his shoulders and leaves., , b), , He insults the shopkeeper., , c), , He tries to buy two products., , d), , He respects the shopkeeper and gets ready to purchase at the earlier quoted price., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAW & BUSINESS CORRESPONDENCE AND REPORTING, , 17, , Chapter-5 Note Making, For the following passages 1 and 2:, (i), , Prepare notes with headings, sub-headings and abbreviations/contractions where ever, necessary., , (ii) Write a summary., Passage-1, Diabetes Mellitus (DM), commonly referred to as diabetes, is a group of metabolic disorders in, which there are high blood sugar levels over a prolonged period. There are three main types of, diabetes mellitus. Type - 1 Diabetes — the body does not produce enough Insulin., Approximately 10% of all diabetes cases are type 1. Type 2 Diabetes -begins with insulin, resistance, a condition in which cells fail to respond to Insulin properly. As the disease, progresses a lack of Insulin may also develop. Approximately 90% of all cases of diabetes, worldwide are of this type. Gestational Diabetes — this occurs when pregnant women without a, previous history of diabetes develop high blood sugar levels., Sometimes a person finds that he has been going to the bathroom to urinate more often. When, there is too much glucose (sugar) in your blood one will urinate more often. If a person's Insulin, is ineffective, or not there at all, his kidneys cannot filter the glucose back into blood. The kidneys, will take water from his blood in order to dilute the glucose, which in turn fills up your bladder., If you are urinating more than usual, you will need to replace that lost liquid. You will be drinking, more than usual. As the Insulin in your blood is not working properly, or is not there at all,, and your cells are not getting their energy, your body may reac t by trying to find more, energy — food. You will become hungry. This in turn will result in weight gain., Unusual weight loss is found in some cases of type-1 diabetes. As your body is not making, Insulin it will seek out another energy source (the cells aren’t getting glucose). Muscle tissue, will be broken down for energy. If your Insulin is not working properly or not there at all, glucose, will not be entering into your cells and providing them with energy. This will make you feel tired, and listless., Blurred vision can be caused due to tissue being pulled from your eye lenses. This affects your, eyes’ ability to focus. With proper treatment, this can be treated. There are severe cases where, blindness or prolonged vision problems can occur., Passage-2, People do not always do the things we want them to do. No matter how reasonable or minimal, our expectations may be, there are times when we are let down. Naturally, we feel upset and, hurt when our expectations are not met. We dread confrontations because they are unpleasant, , © The Institute of Chartered Accountants of India

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18, , FOUNDATION EXAMINATION: NOVEMBER, 2020, , and can damage relationships., Yet not confronting a person does not solve the problem because unresolved issues also affect, relationships in an adverse way. Actually, the real problem lies in our style of confrontation, not, in the issue., Typically, we use character-based confrontations. They help in venting our anger and hurt, but, that is the only thing they do. They lead to angry show downs and bring all discussions to a, grinding halt. It is important to remember that self-image is the most important possession of all, human beings., It is the way we view and regard ourselves in our own eyes and in the eyes of others. As self conscious beings, we are actually aware of our· image and constantly work towards protecting, it from any damage., We also seek approval from others about our own self-image. We feel distraught if we sense, that there is even a slight threat to our self-image, because our character is the essence of our, lives. To ensure a rational dialogue over dashed expectations, we need to deploy issued based, confrontations. They involve an explanation of which actions have bothered us, in what manner, and what changes we would like from the other person., Chapter 7 Précis Writing, For the passages 1 and 2, write a précis, Passage-1, When we survey our lives and efforts we soon observe that almost the whole of our actions and, desires are bound up with the existence of other human beings. We notice that whole nature, resembles that of the social animals. We eat food that others have produced, we ar clothes that, others have made, live in houses that others have built. The greater part of our knowledge and, beliefs has been passed on to us by other people though the medium of a language which others, have created. Without language and mental capacities, we would have been poor indeed, comparable to higher animals. We have, therefore, to admit that we owe our principal knowledge, over the least to the fact of living in human society. The individual if left alone from birth would, remain primitive and beast like in his thoughts and feelings to a degree that we can hardly, imagine. The individual is what he is and has the significance that he has, not much in virtue of, the individuality, but rather as a member of a great human community, which directs his material, and spiritual existence from the cradle to grave., Passage-2, Digital marketing is the very innovative and novel concept in the 21st century. Through this form, of media, products and services are promoted with the use of database-driven online distribution, channels to reach consumers in an appropriate, significant, individual, and lucrative manner., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAW & BUSINESS CORRESPONDENCE AND REPORTING, , 19, , The term digital marketing does not have any specific definition or meaning but it can be well, explained with the examples such as emails, online advertisements, pay per clicks, wireless text, messages, instant messages, RSS, blogging, fax, video streams, podcasting, broadcast, etc., All these comprise digital marketing., Apart from its inclusive list, there are few traditional forms of marketing which are not included, in the term of digital marketing. They are TV, radio, print and billboard as they are not the instant, or quick forms of marketing. It means with these forms of marketing the advertiser could not get, the immediate response from the end consumers. The traditional forms of marketing could not, give the accurate number of responders. Perhaps, there is a little improvement achieved with, the devices such as TiVo which records the statistics like website but, still the desirable result, has not been gained. Nevertheless, this became possible with the introduction of digital, marketing., Digital marketing has become so powerful a network of advertising, that with the introduction of, “Double click” strategy of Google for internet, the world has become very close linking each and, every place conveniently. With the help of digital marketing, campaigns for promoting any, product through internet has become very cost-effective and convenient., Chapter-8 Article Writing, Write article on the following topics., a., , Impact of Advertisements on The Younger Generation, , b., , The Role of Students in Removing Illiteracy, , Chapter-9 Report Writing, 1., , As the School Co-curricular activities In-charge, your Principal has advised you to prepare, a report on how to start online classes for activities besides academics. Discuss the plans,, proposal and benefits. (200-300 words), , 2., , Your CA firm held a webinar on ‘Communication Skills: Need of the hour’. As the Head of, Communication division, prepare a report., , Chapter-10 Writing Formal Letters and Official Communication, 1., , You are the manager of Old World Tower and you received order of letterhead and, business cards from ABC Stationary King. The order was completed on time and the quality, of paper used was not upto the mark. Write a formal letter complaining about the same., , 2., , Write a circular addressing to the employees regarding re-organisation of manpower and, their responsibility in finance department of the company., , Chapter-11 Writing Formal Mails, 1., , Write a formal email to apply for a job position as web content editor., , © The Institute of Chartered Accountants of India

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20, 2., , FOUNDATION EXAMINATION: NOVEMBER, 2020, Write a reply back in a formal email to an inquiry about your product., , Chapter-12 Résumé Writing, 1., , Mr. Mohit Agarwal, a resident of Meerut, have recently come across an advertisement, for, a job vacancy in a leading TV Channel for the post of journalist, in The Times of India., Draft a Résumé along with a cover letter in response to the advertisement., , 2., , You have recently qualified CA Intermediate and willing to join pract ical training. Draft a, résumé, highlighting your education, technical skills and achievements., , Chapter-13 Minutes of Meetings, 1., , You are the CEO of a pharmaceutical company. In light of the Corona virus pandemic, your, company has witnessed a high demand of Paracetamol drugs. However, the company, infrastructure and employee strength does not allow you to cater to the demand. Prepare, the minutes of the meeting, discussing this concern. Members involved in the meeting are,, CEO, Product Head, Pharmacy experts, Business Lead, Head of sales ., , 2., , You are a senior personnel of a food chain which has suffered severe losses due to the, lockdown imposed in the country as a result of the virus pandemic. Discuss the future plans, regards to uplifting the business. Include Director, Sales and Marketing, Retail head,, Supply Chain Head, Procurement Personnel and other senior members. Details to be, tabulated., SUGGESTED ANSWERS/HINTS, , Chapter-1 Communication, 1., , In the present world, communication modes are primarily technology driven. The, communication technology is being constantly upgraded or new formats emerge ever so, frequently. Anyone who is not abreast with these struggles to communicate effectively via, the medium., An individual is swamped with huge amount of information every day in the form of emails,, texts and social updates. Multitasking is the norm these days. The information overload, and trying to accomplish too many things together can result in gaps in communication and, miscommunications., , 2., , Paralanguage refers to the way you say something rather than the actual words used, the, voice quality, intonation, pitch, stress, emotion and style of speaking communicates, approval, interest or lack of it. Research estimates that tone accounts for 38 percent of, communication., , 3., , Nonverbal Communication: Nonverbal communication is the process of communicating, by sending and receiving wordless messages. These messages can aid verbal, communication, convey thoughts and feelings contrary to the spoken words or express, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAW & BUSINESS CORRESPONDENCE AND REPORTING, , 21, , ideas and emotions on their own. Some of the functions of nonverbal communicat ion in, humans are to complement and illustrate, to reinforce and emphasize, to replace and, substitute, to control and regulate, and to contradict the denoted message ., Physical nonverbal communication: An individual’s body language that is, facial, expressions, stance, gestures, tone of voice, touch, and other physical signals constitute, this type of communication. For example, leaning forward may mean friendliness,, acceptance and interest, while crossing arms can be interpreted as antagonistic or, defensive posture., Research estimates that physical, non-verbal communication accounts for 55 percent of, all communication. Smiles, frowns, pursing of lips, clenching of hands etc. transmit, emotions which are not expressed through verbal communication., Paralanguage: The way you say something, more than the actual words used, reveal the, intent of the message. The voice quality, intonation, pitch, stress, emotion, tone, and style, of speaking, communicates approval, interest or the lack of it. Research estimates that, tone of the voice accounts for 38 percent of all communications., Aesthetic communication: Art forms such as dancing, painting, sculptor, music are also, means of communication. They distinctly convey the ideas and thoughts of the artist., Appearance: Appearance is usually the first thing noticed about a person. A well dressed, and groomed person is presumed to be organised and methodical, whereas a sloppy or, shabby person fails to make a favourable impression. Therefore, dressing appropriately in, all formal interactions is emphasized., The dress code in office is generally formal. It constitutes of formal suits, trousers wit h, plain white or light coloured shirts and leather shoes. Bright colours, jeans, T - shirts,, especially with slogans and other informal wear are frowned upon. For women formal two piece trouser or skirt sets or formal ethnic wear like sarees, is permissible., Symbols such as religious, status, or ego-building symbols., 4., , Communication pattern that follows the chain of command from the senior to the junior is, called the chain network. Communication starts at the top, like from a CEO, and works its, way down to the different levels of employees. The supervisor/ manager/ CEO gives, commands or instructions to those working under him/her in the organisation., B, C, D and E, F, G are the subordinates to A in the organisational hierarchy and receive, commands from ‘A’ as shown in the diagram. The chain network often takes up time, and, communication may not be clear., , © The Institute of Chartered Accountants of India

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22, , FOUNDATION EXAMINATION: NOVEMBER, 2020, , AA, E, , B, , F, , C, , G, , D, , Chain of Command, Chapter- 2 Sentence Types, Direct/Indirect, Active /Passive, Ans-1, a., , The bills were paid by Miraya., , b., , Has the apartment been left by them?, , c., , Dinesh was being disturbed by Dinesh., , d., , Will the floor be mopped by you?, , e., , The parcel had not been received by Vidhi., , Ans-2, a., , Radhika has written an article., , b., , She was watching me., , c., , I had paid fifty thousand., , d., , Did she recognise you?, , Ans-3, a., , Rahul asked me if I had seen the cricket match on TV the previous night., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAW & BUSINESS CORRESPONDENCE AND REPORTING, b., , James told his mother that he was leaving for New York the next day., , c., , I asked him why he didn’t work hard., , d., , He exclaimed that it was a hot day., , e., , The priest urged them to be quiet and to listen to his words., , Ans-4, a., , His father says, “Honesty is the best policy.”, , b., , He asked him, ‘Is your name Khalid?, , c., , Raj said, ‘I am teaching English online.’, , d., , The father warned his son, ‘Beware of me.’, , Chapter-3 Vocabulary, Ans-1, 1., , C 2. B., , 3. B., , 4. D., , 5. D., , 3. A., , 4. D., , 5. A, , Ans-2, 1., , C. 2. D, , Chapter-4 Comprehension Passages, Passage 1, 1., , c, , 2., , d, , 3., , a, , 4., , c, , 5., , a, , Passage 2, 1., , b, , 2., , d, , 3., , d, , 4., , b, , 5., , a, , Chapter-5 Note Making, 1), , 1. Diabetes Mellitus(DM), , © The Institute of Chartered Accountants of India, , 23

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24, , FOUNDATION EXAMINATION: NOVEMBER, 2020, , 1.1 Types, 1.1.1 Type-1 inadqt prodtn of insulin, 1.1.2 Type-2 insulin rstnt cells most common (90% cases), 1.1.3 Type-3 gstnl in prgnt women, 1.2 Symptoms, 1.2.1 Frqnt urnatn, 1.2.1.1 Cause, 1.2.1.1.1 Kidney tkg water frm blood, 1.2.1.1.1 Bladder flng up, 1.2.2 Unusual thirst, 1.2.2.1 Cause, 1.2.2.1.1 Water loss, 1.2.3 Wght gain, 1.2.3.1 Cause, 1.2.3.1.1 Constant hunger, 1.2.3.1.2 Excsv eating, 1.2.4 Wght loss ( in type-1), 1.2.4.1 Cause, 1.2.4.1.1 Break down of fat & msclr tissue, 1.2.5 Physcl fatigue, 1.2.5.1 Cause, 1.2.5.1.1 Lack of glcse in cells, 1.2.6 Blurred vision, 1.2.6.1 Cause, 1.2.6.1.1 Tissue pulled frm eye, 1.2.6.1.2 Inability to focus, 1.2.7 Blndns or prlgd vision prblms (in severe cases), , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAW & BUSINESS CORRESPONDENCE AND REPORTING, , 25, , Key, 1., , inadqt- inadequate, , 2., , prodtn-production, , 3., , rstnt-resistant, , 4., , gstnl-gestational, , 5., , frqnt-frequent, , 6., , urntn-urination, , 7., , prgnt-pregnant, , 8., , tkg-taking, , 9., , frm-from, , 10. flng-filling, 11. wght-weight, 12. excsv-excessive, 13. msclr-muscular, 14. physcl-physical, 15. glcse-glucose, 16. blndns-blindness, 17. prlgd-prolonged, 18. prblms-problems, Summary, Diabetes Mellitus is a metabolic disorder characterised by high blood sugar levels over a long, period. There are three types of Diabetes. Type-1, where body does not produce enough Insulin,, Type-2 where cells are Insulin resistant is the most common with 90% cases and Type-3, gestational diabetes in pregnant women. Symptoms are frequent urination caused due to water, being taken from blood by kidneys to dilute glucose, filling up the bladder; Unusual thirst due to, water loss; Weight gain due to constant hunger and excessive eating; Weight loss in Type -1,, due to break down of fat and muscular tissue; Physical fatigue due to lack of glucose/energy in, cells; Blurred vision due to inability to focus and blindness in severe cases., 2), , Human Nature, , 1., , Hmn Ntr, , © The Institute of Chartered Accountants of India

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28, , FOUNDATION EXAMINATION: NOVEMBER, 2020, , problems rather than the underlying issue. We generally indulge in character -based, confrontations, letting out our anger at people causing conflicts in relationships, stopping, constructive discussions and end up harming our image. Our image is important as it builds our, character. Therefore, we must indulge in issue-based confrontations where we analyse our, disagreements and identify the actions/attitudes in others that bother us and how these can be, changed to resolve the issue., Chapter-7 Précis Writing, 1), , Respect Humanity: It serves you! (Title), Our life is a part of the humanity, dependent on other human beings for various basic needs, like food, clothing and shelter etc. Language that makes humans different on animals is, also a gift from other humans which leads us to being wise and knowledgeable. A lonely, man would be like a beast with no social activities and feelings. Let us respect humanity, and other existence of fellow beings., , 2), , Digital Marketing: The new trend (Title), We hear a lot about online wallets, e-mails, blogs, and podcasts: these are few platforms, that constitute Digital Marketing. This new technology enables immediate response from, the consumers and is seen to yield better consumer satisfaction results, as opposed to the, traditional means of marketing that included TV, radio. Etc. Moreover, digital marketing, has brought the world closer just at the click of a mouse/button., , Chapter-8 Article Writing, Hints:, a., •, , Advertisements have become a big business., , •, , They are promoted by celebrities drawn from various fields like films, sports, etc.,, leaving their influence on all people specially the young., , •, , The advertisement industry has a tremendous impact on the younger generation., , •, , Advertisements have become a part of the daily lives of youngsters., , •, , Young people often do not even realise that they are hearing or viewing them., , •, , They have a persuasive influence on the youth., , •, , In the ever-expanding world of consumerism and advertising, companies are, constantly looking for new ways to sell their products to the youngsters., , •, , By making their commercials and campaigns more memorable, to leave an impact on, their minds., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAW & BUSINESS CORRESPONDENCE AND REPORTING, , 29, , •, , The younger generation has become their prime target., , •, , They have been spending more efforts than ever before and increased avenues at, their disposal., , •, , Therefore, companies spend enormous amounts of money to rope in popular film, stars, cricketers, and musicians etc. to endorse their products., , •, , India is standing at the threshold of joining the developed nations but that is not, possible till we achieve complete literacy in the country., , •, , Illiteracy is still a major blot on India, after more than sixty years of its achieving, independence., , •, , To an extent it exemplifies India’s failure to reach out to its masses., , •, , Students can play an important role in achieving this goal of removing illiteracy., , •, , Students should be encouraged to carry the lamp of knowledge by organising events, such as, ‘Each One, Teach One’., , •, , The government should also render full support to students in terms of infrastructure, in their contribution to the Indian Literacy Campaign., , •, , Students can also play a vital role in the programme of Adult Literacy., , •, , If all our students get together and try to work towards achieving literacy among the, masses., , b., , Chapter-9 Report Writing, 1), , Formal Report, To: The Principal,, XYZ School, New Delhi, From: In-charge, co-curricular activities, Date: Sept 14, 20XX, Subject: Online classes for co-curricular activities (Specific grade if any), Contents:, •, , Need for online classes for co-curricular activities, , •, , Subjects that can be included, , •, , Time duration, , •, , Teacher assigned, , © The Institute of Chartered Accountants of India

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30, , FOUNDATION EXAMINATION: NOVEMBER, 2020, •, , Benefits to the students, , •, , How to have audience engagement, , Note: Write a brief summary of the complete report. Not more than 5-6 lines. It gives an, overall view of the report highlighting the main points proposed., 2), , Report, Hints:, Webinar held on ‘Communication Skills’, •, , Welcome address by Head HR describing:, o, , Need for the webinar, , o, , Agenda of the webinar, , •, , Presentation by CA. X on Role of Communication (may include a comment), , •, , Presentation by CA. Y on Impact on CAs due to changing work environment (Work, From Home), , •, , Presentation by Participant-2 on Current scenario and digitalisation, , •, , Presentation by Participant-3 on Diversity in work force affecting Communication, (Barriers), , •, , Vote of Thanks by Senior Manager HR inviting feedback and suggestions from all, participants, , Chapter-10 Writing Formal Letters and Official Communication, Ans-1. Letter, Old World Tower, 16 Ring Road, Delhi – 01, October 30, 20xx, The Manager, ABC Stationary King, 35 Patel Street, Delhi − 18, Dear Sir/Madam,, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAW & BUSINESS CORRESPONDENCE AND REPORTING, , 31, , Sub: Complaint against Order No. S/24-201S-1150., This is with reference to the Order No. S/24-201S-1147 place on xx/xx/20xx comprising two, items viz. letterheads and business cards sizes mentioned in the order details., We were assured of receiving the order latest by xx/xx/20xx. Firstly, the order was r eceived, much past the promised delivery date. Also, the quality of the paper and design selected for, business cards does not match with the selected sample., Kindly ensure that the order is replaced latest by xx/xx/20xx, failing which payment will be, stopped and the order will be cancelled. I sincerely request you to look into the matter and do, the needful as soon as possible., Thanking you!, Yours truly, XYZ, General Manager, Ans-2.Circular, Circular No. XV, , 13th Nov, 2018, , Office Circular, Due to urgent work requirements in the Finance department, the following employees are, temporarily shifted to the department for a period of 2 months (60 days) w.e.f. Nov. 14, 2018., Name, , Designation, , Department, , Current Responsibility, (Finance Department), , Mr. WER, , Upper Division Clerk, , Accounts, , Clerk, , Mr. XYZ, , Junior Accountant, , Accounts, , Accounts Assistant, , Ms. PRT, , Senior Accountant, , Accounts, , Accounts Officer, , Ms. SDF, , Project Manager, , Mr. LMN, , Network Engineer, , Mr. RST, , Office Assistant, , Information Technology, Information Technology, Sales and Marketing, , Technical Support Manager, Engineer, Office Assistant, , The above employees are directed to report to Mr. X (Head Finance) at 10 AM tomorrow, Nov, 14, 2018., Office timings will be from 10 AM till 7PM, Saturday will be a working day; Sunday is a holiday., JKL, Manager, HR, , © The Institute of Chartered Accountants of India

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32, , FOUNDATION EXAMINATION: NOVEMBER, 2020, , Chapter-11 Writing Formal Mails, Ans-1., To: [email protected], Cc/bcc:, Subject: Web Content Editor Position, Dear Sir/Madam,, With reference to your job ad in xxx, I would like to submit my application for the position of Web, Content Editor in your company., I graduated in Communication Sciences from the University of xxx in xxxx. I have more than 5, years of experience as a Content Specialist with a leading agency. I will be glad to introduce, myself in an interview that will allow you to better evaluate my possible recruitment., Kindly find enclosed a copy of my résumé. I look forward to hearing from you., Yours faithfully,, ABC, Ans-2, To: [email protected], Cc/bcc:, Subject: New product Catalogue, Dear Ms. DC,, Greetings! In response to your request, we have recently sent you our latest catalogue 202021. We have added various products/services that will surely evince your interest. Our local, agent will contact you soon to arrange a formal presentation/meeting to discuss how our, products/services can benefit your company., For further information, contact the undersigned., Yours sincerely,, ABC, [email protected], , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAW & BUSINESS CORRESPONDENCE AND REPORTING, , 33, , Chapter-12 Résumé Writing, (a), , Cover Letter, To, , Date: Sep 10, 20XX, , Manager (HR) ABC TV, FGH Media Pvt Ltd Mandi House, New Delhi., Dear Sir/Madam,, Subject: Application for the post of Journalist, Greetings for the day!, I am writing this letter to express my interest in the position of Journalist as advertised in, the SDF national daily, Careers section dated, Sep 1, 2020., I fulfill all the educational and professional requirements as specified in the advert. I am a, post graduate in Media Studies from ASD University and interned at renowned media, houses (print and TV). I have two years of relevant experience. Currently, I am heading, the regional news section at XYZ TV at their Meerut office., My detailed résumé is appended herewith for your perusal. Looking forward for a positive, response., Best Regards,, Mohit Agarwal, 36, Civil Lines, Meerut, U.P., Résumé, OBJECTIVE:, Mohit Agarwal, 36, Civil Lines Meerut, U.P., Phone: 98XXXXXXXX, Email: [email protected], To be associated with an organisation that offers tremendous opportunities for growth and, autonomy, providing a challenging environment to harness my creative streak, innovative, ideas and utilise my experience as a media correspondent to the maximum., , © The Institute of Chartered Accountants of India

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34, , FOUNDATION EXAMINATION: NOVEMBER, 2020, SUMMARY, •, , One year of experience as a staff correspondent in CVB TV., , •, , Two years of experience as Head Regional News XYZ TV, , •, , Proven skills in content planning, selection and presentation., , •, , Excellent Reporting skills in English and Hindi., , EXPERIENCE, 2016 – PRESENT, , Head Regional News XYZ TV Meerut, , •, , Planning and deployment of staff correspondents, , •, , Sponsorship Planning from corporate and medias houses, , •, , Staff selection and Training, , •, , Media Planning for regional corporate houses, , 2015– 2016 Staff Correspondent CVB TV, •, , Capturing Events, , •, , Conceptualising stories, , •, , Presenter for “Khufia” section of Daily News, , EDUCATION, 2014, Masters in Mass Comm, ASD University, New Delhi, 2012, English (Hons), ASD University, New Delhi, INTERNSHIPS, 2014 , 2 months at World Journalists Association (Articles Section), 2013, 4 months at CNN TV in News production and planning, SKILLS, •, , Well versed with Media Software, , •, , Meticulous Planning and Execution skills with an eye for detail, , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAW & BUSINESS CORRESPONDENCE AND REPORTING, , 35, , PERSONAL DETAILS, Date of Birth, , 15 June, 1992, , Marital Status, , Unmarried, , Languages Known, , English, Hindi, , DECLARATION, I solemnly declare that all the above information is correct to the best of my knowledge and, belief., Ans-2, Résumé, Name, Address, New Delhi-110044, Email ID: [email protected], Mobile No.- +91-XXXXX XXXXX, Objective, •, , I seek to join a firm where I can learn various aspects of profession and use my skills and, knowledge of MS Excel, MIS, Tally, and Taxation with GST., , •, , I wish to contribute towards organisational goal through my technical skills, hard work and, creativity., , Academics, Qualification, B.Com, CA Intermediate, CA Foundation, XII, X, , University/Board, DU, ICAI, ICAI, CBSE, CBSE, , Skills, MS-Office, Tally, Advance Excel, Payroll, MIS, Good analytical and decision making skills, , © The Institute of Chartered Accountants of India, , Year of Passing, Pursuing, 2018-19, 2017, 2016-17, 2014-15, , Score/Marks, 67%, 75%, 90%, 93%

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36, , FOUNDATION EXAMINATION: NOVEMBER, 2020, , Achievements, •, , As captain of the school cricket team won 3 consecutive zonal inter- school championship, matches, , •, , Stood first in school in Maths Olympiad, , •, , Stood second at the state level ‘Sudoku’ championship, , Personal Details, Father’s Name:, Date of Birth:, Nationality:, Declaration, I solemnly declare that all the above information is correct to the best of my knowledge and, belief., Signature, Chapter-13 Meetings, 1), , Minutes of Meeting, Participants in attendance: CEO, Head of Sales and Marketing, the Product Head,, Business lead, Pharmacy experts, Date: 7th August, 2020, Meeting started at 11: 00 am., Mr. SS, Head of Sales and Marketing informed the agenda of the meeting i.e., incapability, in meeting business demands, Mr. RV, Product Head expressed concern over the matter; discussed ways of increasing, production., Mr. AP, Business lead gave a detailed analysis of the figures observed in the last six, months and also suggested few changes in business strategies, Pharmacy lead and team: Proposed ways of aligning with the increased production., Patent laws also discussed., Mr. AB, CEO Gave a vote of thanks and appreciated the views and suggestions of, members present., All the participants agreed to the concern and come back with a detailed report., , © The Institute of Chartered Accountants of India

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PAPER – 2 : BUSINESS LAW & BUSINESS CORRESPONDENCE AND REPORTING, , 37, , ATR to be submitted by 20 th Aug, 2020 to the Head of Sales and Marketing and CEO., 2), , Minutes in tabular form, Time, 8:15am, 8:30 am, , 9:00 am, 9:30 am, 10:00 am, , Topic, Introduction, and, Welcome note, Discussion, on, flexible, business, plans, New, trends, discussed, Tea/Breakfast, , Attendees, Name of, participants, Name of, participants, , Speaker, the Director,, Sales, the Retail head, , Name of the Supply chain, participants, Head, Tea/Breakfast, , Duration, 15 minutes, 30 mins., , 30 mins, 30 mins, 20 mins, , 10: 20 am, , Suggestions made Name of the Procurement, for, better participants, Head, procurement means, Open House, All participants, All members, , 10:40 am, , Vote of Thanks, , 10 mins., , All participants, , Director, , 20 mins, , Answer 2, Acknowledgements: The Communication Division is extremely thankful to all people who, extended their help and provided valuable inputs in preparing this report. A special thanks to, our Mr. A, Ms. B and Ms. C for their knowledge sharing, Contents: List the topics in bullet form in serial order., •, , Inaugural address by Head HR describing, , •, , Need for the webinar, , •, , Agenda of the webinar, , •, , Role of communication, , •, , Impact on CA’s, , •, , Current scenario and digitalisation, , Summary: Write a brief summary of the complete report. Not more than 5-6 lines. It gives an, overall view of the report. Include graphs/illustrations if needed., , © The Institute of Chartered Accountants of India