NextQ123

Rohit completed his degree in Production Management and joined Galaxy Automotives Ltd., a company known for manufacturing electric scooters. He was assigned to the department responsible for ensuring that each component—from raw materials to the final product—moved smoothly through the production process. His mentor, Mr. Mehta, explained that their department performs a vital function by monitoring the movement of materials, performance of machines, and efficiency of workers. Curious about the process, Rohit asked Mr. Mehta for clarification. Mr. Mehta told him that the department prepares a detailed plan for every component to ensure an uninterrupted flow of materials from the initial stage to the finished scooter. This helps maintain continuous production and prevents delays. He also discussed the quality control systems that ensure high product standards. Mr. Mehta then showed Rohit an existing production plan and asked him to prepare a similar plan including all the necessary details he had learned. Explain the first three elements involved in this plan.

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Question 122

The business assets of an organization amount to ₹ 50,000 but the debts that remain unpaid are ₹ 80,000. What course of action can the creditors take if: (i) The organization is a sole proprietorship firm. (ii) The organization is a partnership firm with Anthony and Akbar as partners. Which of the two partners can the creditors approach for repayment of debt? Explain giving reasons.

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