Business Studies Question Paper Solved 2014 | WBCHSE | Class 11

BUSINESS STUDIES 2014

GROUP – A

1. Choose the correct alternative: [1 x 10 = 10]

(i) In the case of profession money received in exchange of services is called

(a) Profit

(b) Fees

(c) Business

(d) None of these

(ii) First Companies Act was passed in Independent India in the year of

(a) 1956

(b) 1957

(c) 1958

(d) 1959

(iii) All decisions are taken in sole-proprietorship business by

(a) Creditor

(b) Proprietor

(c) Staff

(d) Debtor

(iv) The number of minimum members of a private company is

(a) 3

(b) 2

(c) 5

(d) 7

(v) Life Insurance Corporation of India is a

(a) Departmental organization

(b) Statutory corporation

(c) Government Company

(d) Welfare organization

(vi) Minimum share of government in government company is

(a) 49%

(b) 50%

(c) 51%

(d) None of these

(vii) Central Bank of India is

(a) State Bank of India

(b) Reserve Bank of India

(c) Central Bank of India

(d) All of these

(viii) Name of the speediest system of transferring money is

(a) Banker’s cheque

(b) Bank draft

(c) Bank overdraft

(d) Real Time Gross Settlement (RTGS)

(ix) Plastic money means

(a) Debit card

(b) Credit card

(c) Both (a) and (b)

(d) None of these

(x) Which number of the following an ATM card holder has to use as security number?

(a) Code number

(b) Phone number

(c) Pin number

(d) None of these

2. Answer in one word or in brief (Alternatives are to be noted): [1 x 10 = 10]

(i) Give an example of profession.

Answer: An example of a profession is Chartered Accountant.

(ii) Which word is attached at the end of the name of company to mean that the liability of shareholders is limited?

Answer: The word ‘limited’ is added at the end of the company name to indicate that the liability of the shareholders is limited.

(iii) Which step is the first of promoting a business organization?

Answer: The first step in promoting a business organisation is identification of business opportunities.

Or, What certificate is required to commence business in case of public limited company?

Answer: A public limited company can commence operations only after obtaining the Certificate of Commemncement from the Registrar.

(iv) What is partnership deed?

Answer: Partnership deed is a written agreement among partners for managing the affairs of a firm.

(v) Give one example of government company.

Answer: State Trading Corporation is an example of Government company.

Or, Give an example of departmental business.

Answer: Indian Railways is an example of departmental business.

(vi) What is world market?

Answer: The market that crosses the borders of the country and considers the whole world as market, is called world market.

Or, What is joint sector business?

Answer: A joint sector business is a group of business enterprises jointly owned and managed by public and private enterprises.

(vii) What do you mean by online payment?

Answer: Online payment is the process of transferring money from one account to another account very easily and quickly through electronic means.

(viii) What is BPO?

Answer: Business Process Outsourcing (BPO) is when an organization or company performs any part of its operations or services through a third-party company.

Or, What is KPO?

Answer: KPO i.e. Knowledge Process Outsourcing refers to the transfer of advanced knowledge, advanced technology, and experience.

(ix) What is the responsibility of business to its investor?

Answer: The responsibility of business to its investors is to pay regular interest.

(x) How can business protect environment?

Answer: Business protects the environment by following advanced technology, environmental awareness and environmental laws.

Or, Define business ethics.

Answer: Business ethics is to survive in a competitive market by improving individual efficiency and reducing the cost of production of goods.

3. Answer the following questions (Alternatives are to be noted): [4 x 6 = 24]

(i) Give differences between business and profession.

Answer: Click here

(ii) Discuss about four features of company.

Answer: Click here

Or, Explain four features of sole-proprietorship business.

Answer: Click here

(iii) What are the causes of low profitability of public sector enterprises?

Answer: Click here

(iv) Write down the features of cheque.

Or, Enumerate the features of bank draft.

Answer: Click here

(v) Write down the disadvantages of e-business.

Answer: Click here

Or, Distinguish between e-business and e-marketing.

(vi) Discuss the social responsibility of business.

Answer: Click here

GROUP – B

4. Choose the correct alternative: [1 x 8 = 8]

(i) A source of external capital is

(a) Loan taken from financial institution

(b) Depreciation

(c) Both (a) and (b)

(d) None of these

(ii) Money collected by company from public at a specific rate of interest for a specific period is called

(a) General deposit

(b) Company deposit

(c) Loan deposit

(d) Public deposit

(iii) Primary risk of company business is borne by

(a) Equity shareholders

(b) Preference shareholders

(c) Debenture holders

(d) None of these

(iv) Manufacturing small scale business means those enterprises whose amount of employed capital in machinery is

(a) Less than 25 lakhs

(b) More than 25 lakhs but less than 5 crores

(c) more than 5 crores but less than 10 crores

(d) More than 10 crores

(v) Boundary of internal trade goes to

(a) Boundary of a state

(b) Boundary of a country

(c) Boundary of a region

(d) Boundary of a district

(vi) Business through mail order is

(a) Retail business

(b) A wholesale business

(c) A foreign business

(d) None of these

(vii) Main basis of International trade is

(a) Specialization

(b) Production

(c) Trade

(d) International relationship

(viii) The first conference of GATT was held in the year

(a) 1947

(b) 1948

(c) 1958

(d) 1964

5. Answer in one word or in brief (Alternatives are to be noted): [1 x 8 = 8]

(i) What is capital?

Answer: Usually the initial cash invested by the owner to start his business is called capital.

Or, What is loan capital?

Answer: In many cases, it is not possible for the owners to provide the full part of the required capital of the business, then the money is raised with the help of borrowing. This money raised is called loan capital.

(ii) What is debenture?

Answer: According to section 2(12) of the Companies Act, 1956, when a company takes a loan from someone, it issues a deed in acknowledgment of the debt. This deed is known as Debenture.

(iii) What is reinvestment of profit?

Answer: Sometimes a portion of the profit is set aside to create a reserve fund. The method of using these reserve funds for capital requirements is called ploughing back of profit or reinvestment of profit.

(iv) What is small business?

Answer: Businesses that are carried on on a small scale, with low production and investment in machinery of more than 25 lakh rupees but less than 5 crore rupees are called small businesses.

Or, What are the two features of small business?

Answer: Two characteristics of small businesses in India are – 1) Small businesses are developed in rural, urban and suburban areas, 2) In this type of business, the capital is usually provided by the owners or partners themselves.

(v) What is chain store?

Answer: A system of buying large quantities of the same product from the manufacturer or from the wholesale market under the same ownership and management and selling them at retail prices through multiple branches located in different regions is called Chain Stores.

Or, What is large retail business?

Answer: When a retail business requires a large amount of capital, involves more risk and employs a large number of employees, and has a large volume of purchases and sales, it is called a large retail business.

(vi) What is debit note?

Answer: The buyer sometimes returns part of the goods made to the seller. The voucher by which the buyer returns the goods to the seller is called a debit note.

(vii) What is International Trade?

Answer: When the exchange of goods and services with other countries takes place across the political and geographical boundaries of a country, it is called international trade.

(viii) What is Bill of lading?

Answer: A bill of lading is a receipt issued by the shipping company to the exporter acknowledging receipt of the export goods and accepting responsibility for carriage of the goods.

Or, What is COD?

Answer: COD i.e. Cash on delivery is the method in which the price of goods or services is paid immediately after delivery of the goods or services.

6. Answer the following questions (Alternatives are to be noted): [4 x 2 = 8]

(i) Describe the role of The District Industries Centre for the promotion and development of small business.

Answer: Click here

(ii) Mention the problems of International Trade.

Answer: Click here

Or, Write a short note on WTO.

Answer: Click here

7. Answer the following questions (Alternatives are to be noted): [6 x 2 = 12]

(i) Write down the differences between Equity Share and Preference Share.

Or, Distinguish between public deposit and trade credit.

(ii) Describe the features of Departmental Stores.

Answer: Click here

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