Key Differences

Know the Differences & Comparisons

Difference Between Hotel and Motel

In simple terms, a hotel is an accommodation for travellers who want to have lodging through payment to the proprietor. It is initially designed for travellers to rest and sleep. Hotels may provide a range of facilities, from a bed to an almirah for storage to a spa. Both hotels and motels are a part of the hospitality sector that provides accommodation. The hotel offers numerous amenities to its guests apart from providing accommodation facilities. However, a motel offers a layover facility … [Read more...]

Difference Between FIR and Chargesheet

FIR, or First Information Report, is the written document that police prepare upon receiving information regarding the occurrence of a cognizable offence. It is an important document both from the point of view of prosecution and defence. It acts as the foundation of the case, as the entire case depends on it. The police initiate the crime investigation only after the registration of the FIR. On the other hand, the chargesheet is a final formal document of accusation that the police prepares. … [Read more...]

Difference Between Norms and Values

Norms prescribe, while values act as a criterion for evaluations. Norms and values constitute the foundational stone of society's social structure. This is because they guide the social behaviour of people. Here, it is worth noting that the value at one level can turn out to be the norm at another level. Norms and values are strongly related to each other. These are all about accepted assumptions regarding what is right and wrong, desirable or undesirable. Norms are the standards or rules … [Read more...]

Difference Between Society and Community

We all know that man is a social animal who depends on others to fulfilling basic needs. Due to the continuous interaction between people, they become mutually dependent on one another. While a community is an organically functioning, mutually interdependent system, society is a natural, externally organized group. A community and society are not static, as they keep on changing. The difference between society and community relies on the individual's role. A community is formed and … [Read more...]

Difference Between Sourcing and Procurement

Sourcing is a process in which the firm makes an attempt to find out the best vendor for supplying materials with standard quality and the right price. Also, it ascertains the scope of strong and lasting relationships with vendors. Further, it maintains the relationship over a period of time for mutual benefit. In contrast, procurement is the process of buying the materials in the right quantity and quality, which the firm requires to carry out the production process. Do you guys know that … [Read more...]

Difference Between National Income and Per Capita Income

Do you know that National Income is the accurate yardstick of how effectively the economy is performing? Therefore, it is very important to measure the national income of the country, as it portrays a clear picture of the soundness of the economy. Also, it determines the level of economic activity in a country. Simply put, it is the total income of the nation. It is the monetary value of the final goods and services produced in a particular period. Per Capita Income of the country represents … [Read more...]

Difference Between Departmental Store and Multiple Shops

A departmental store is a huge retail showroom consisting of various departments functioning in the same place. In this, each department limits its functions to a specific kind of trade. Therefore, the departments are a complete unit in themselves, i.e. each department is a separate shop. Talking about multiple shops, which consist of several branch shops, which a business enterprise owns. These shops are set up at different locations in the city and throughout the country. They specialize in … [Read more...]

Difference Between Thesis and Research Paper

While both thesis and research papers are academic writings, there is a difference between the two. A thesis refers to a scholarly research report that a scholar writes and submits for fulfilling academic requirements and obtaining a higher degree. It opens up various lines of enquiry into a range of possibilities like an antithesis. On the other hand, a research paper is analytical, argumentative and interpretative in nature. It involves the pursuit of knowledge and intelligent analysis of … [Read more...]

Difference Between MBO and MBE

MBO and MBE are the two models of management. The aim of these two models is to help the management focus on the attainable and ultimate goal, as well as to channelise their efforts into the achievement of the best possible results with the help of available resources at that point in time. MBO is an acronym for Management by Objectives. MBO is a system of management wherein each member takes part in the organization effectively. Conversely, MBE is a short form for Management by Exception. … [Read more...]

Difference Between Receipt and Payment Account and Income and Expenditure Account

Do you know non-profit organizations don't need to maintain a large set of books of accounts? However, they need to prepare financial statements at the end of every financial year. So, for this purpose, they prepare receipt and payment accounts and income and expenditure accounts and a Balance Sheet. While receipt and payment account is a simple summary of cash and bank transactions. On the other hand, the income and expenditure account reflects the income and expenditure of the current year … [Read more...]