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                  160                               Corporate Finance                      BRILLIANT’S


                  of  fixed capital.  A manufacturing  company  ‘¡Ý¶y’¡$³M[a¨J H$ånZr H$mo boÝS>, {~pëS>¨J, ‘erZ Am{X H$s
                  requires land, building, machines etc. So it has  Amdí¶H$Vm hmoVr h¡& BgHo$ {b¶o ~‹S>r ‘mÌm Ho$ H¡${nQ>b,
                  to invest a large amount of capital for a long  bå~o g‘¶ Ho$ {b¶o BÝdoñQ> H$aZm hmoVr h¡& dht Xÿgar Va’$
                  period. But a trading concern dealing in small  EH$ Q´>oqS>J H$aZo dmbo ì¶dgm¶ ‘| gm‘mݶV: N>moQ>o AmBQ>åg
                  items such as, showroom of washing machines  hmoVo h¢, O¡go EH$ dm°qeJ ‘erZ Ho$ emo ê$‘ Ho$ {b¶o bm±J-
                  will require a smaller amount of long-term fund  Q>‘© ’$ÝS> Ho$ ê$n ‘| VwbZmË‘H$ ê$n go H$‘ H¡${nQ>b H$s
                  because it does  not have to buy  building or  Amdí¶H$Vm hmoVr h¡ ³¶m|{H$ dhm§ {~pëS>¨J ¶m ‘erZm| H$mo
                  machines.                                   IarXZo H$s Amdí¶H$Vm Zht hmoVr&
                      2. Nature of goods produced: If a business  2. CËnm{XV {H$¶o OmZo dmbo JwS²>g H$m ZoMa: ¶{X
                  is engaged in manufacturing small and simple  {~OZog ‘| {H$gr N>moQ>r Am¡a {gånb dñVw H$s ‘¡Ý¶y’¡$³M[a¨J
                  articles, it will require a smaller amount of fixed  H$s OmVr h¡ Vmo {’$³ñS> H¡${nQ>b H$‘ ‘mÌm ‘| bJoJr Am¡a
                  capital as compared to the one manufacturing
                  heavy machines or heavy consumer items like  ¶{X {H$gr hodr ‘¡Ý¶y’o$³M[a¨J ‘erZ ¶m hodr H§$Á¶y‘a AmBQ>‘
                  cars, refrigerators etc. which will require more  O¡go H$ma, ao{’«$OaoQ>a Am[X H$s ‘¡Ý¶y’¡$³M[a¨J H$s OmVr h¡
                  fixed capital.                              Vmo {’$³ñS> H¡${nQ>b ~‹S>r ‘mÌm ‘| bJoJr&
                      3. Technology used: In heavy industries     3. Cn¶moJ H$s OmZo dmbr Q>o³Zmobm°Or: hodr BÝS>ñQ´>rO
                  like  steel  manufacturing  the  fixed  capital  O¡go ñQ>rb ‘¡Ý¶y’¡$³M[a¨J ‘| {’$³ñS> H¡${nQ>b H$m BÝdoñQ>‘|Q> ~‹S>r
                  investment  is  larger  than  in  the  case  of  a  ‘mÌm ‘| hmoVm h¡ O~{H$ N>moQ>o àmoS>³Q²>g O¡go ßbmpñQ>H$ Oma Am{X
                  business producing small products like plastic  ‘| Ohm§ {gånb Q>o³Zmobm°Or H$m Cn¶moJ hmoVm h¡ AWdm Ohm§ bo~a
                  jars  using simple  technology  or  producing  na AmYm[aV Q>op³Z³g H$m Cn¶moJ H$aHo$ àmoS>³Q²>g ~Zm¶o OmVo
                  goods using labour intensive technique.     h¢ dhm§ na H$‘ H¡${nQ>b H$s Amdí¶H$Vm hmoVr h¡&  

                   Q.21. What are the Long-term sources of finance?
                         ’$m¶Z|g Ho$ bm±J-Q>‘© òmoV ³¶m h¢?
                                                           OR
                         Explain the various long-term sources of finance.
                         ’$m¶Z|g Ho$ {d{^ÝZ bm±J-Q>‘© òmoV g‘PmB¶o&

                                                           OR
                         Write a short note on: Financing through Capital Market.
                         g§{jßV {Q>ßnUr {b{IE… H¡${nQ>b ‘mH}$Q> Ûmam ’$m¶Z|qgJ&

                                                           OR
                         What do you mean by equity Shares? Explain the different types of debentures.
                         B{³dQ>r eo¶g© go AmnH$m ³¶m Ame¶ h¡? {S>~|Mg© Ho$ {d{^ÝZ àH$mam| H$m dU©Z H$s{OE&
                                                           OR
                         Differentiate between shares and Debentures.
                         eo¶g© VWm {S>~|Mg© Ho$ ~rM A§Va ~VmB¶o&
                                                           OR
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