IAS and IPS are the two most challenging jobs in India, which not only gives power and position but has certain duties towards the nation and responsibility towards society. Indian Administrative Service (IAS) is regarded as the top-ranking civil service job offered to those candidates who top the Civil Service Examination. Next, best alternative after IAS is the Indian Police Service (IPS) which is also a dream job of many Indian citizens, but it is a technical job, which requires … [Read more...]
Difference Between Foreign Trade and Foreign Investment
With the effect of globalization, the form of the markets has been changed all around the world, as well as it has also changed the way in which business is carried out in the past years. One of the major revolutions, as a part of globalization, is the foreign trade that implies the buying and selling of goods and services, in different countries of the world. Next, there is one more drastic change as a result of globalization, i.e. foreign investment, wherein the individuals and companies … [Read more...]
Difference Between Spin-off and Split-off
Divestiture or commonly called as divestment is the process of selling off a part or division of the company to another company or creating a separate company. Divestiture can take the form of the spin-off, split-off, split-up, sell-off, equity carve-out, etc. Of these forms, the two commonly juxtaposed forms of divestiture are spin-off and split-off. Spin-off refers to the business division, which becomes an independent undertaking, after separation from the parent company. On the contrary, … [Read more...]
Difference Between Profession and Career
One of the most crucial decision in a person's life is to choose the right career for him/her. A career can be understood as the occupation, which an individual undertakes throughout his life, and includes all the steps taken for growth. The life pattern of a person is defined by the career he/she opts. The term 'career' is often misconstrued as 'profession', but there is a fine line of differences between the two. A profession is an occupation, usually paid, which requires a person to … [Read more...]
Difference Between Merchant Bank and Investment Bank
Commercial banks offer services to the general public, but there are some banks which offer services to the companies and investors but not to the public. They are investment bank and merchant bank. As the two banks offer similar services to the clients, they are comonly misconstrued, however they are different in the sense that an investment bank is a banking company that acts as an intermediary between the Client and the investing public, by helping them in raising funds. On the contrary, a … [Read more...]
Difference Between Embassy and High Commission
Diplomatic Mission, or otherwise called as a foreign mission, is a group of individuals, that represent their country in a foreign country officially. Apart from representing the state, it protects the citizens in the foreign country, negotiate with the host country on different matters, and foster friendly relations. It includes embassies or high commission and consulates. An Embassy is termed as a foreign mission of a country, represented by diplomats in another country. On the contrary, … [Read more...]
Difference Between Social Media Marketing and Digital Marketing
Marketing is all about ascertaining consumer needs and satisfying them profitably. One of the emerging branches of marketing is digital marketing, that has changed the way in which marketing is performed in yesteryears. It is a channel for advertising and selling directly to the consumers, that has a global reach. Digital Marketing uses all digital channels to build awareness and promote the product and services to the target audience. It includes online marketing, social media marketing and … [Read more...]
Difference Between T-test and Z-test
T-test refers to a univariate hypothesis test based on t-statistic, wherein the mean is known, and population variance is approximated from the sample. On the other hand, Z-test is also a univariate test that is based on standard normal distribution. In simple terms, a hypothesis refers to a supposition which is to be accepted or rejected. There are two hypothesis testing procedures, i.e. parametric test and non-parametric test, wherein the parametric test is based on the fact that the … [Read more...]
Difference Between Life Insurance and Health Insurance
Insurance implies a contractual arrangement between two parties, i.e. insurance company (insurer) and insured, by which the insurer, in return for a fixed sum (premium) commits to compensate the insured for the loss sustained or damage caused on the occurrence of a certain event. The document which covers all the details of the contract is called as an insurance policy. Life insurance is a contract that protects against the risk of life. Gradually, the scope of life insurance has widened and … [Read more...]
Difference Between Audit and Review
Recently, the framework of standards on auditing and guidance notes on related services are issued, wherein a difference between audit and related services is clarified. Related services include reviews, agreed upon procedures, compilation. The review is often contrasted with audit, but they are different in the sense that an audit is a thorough examination of the financial information of an organization, to give his/her opinion on the same. On the other hand, the review can be understood as … [Read more...]
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