Business Studies Question Paper Solved 2015 | WBCHSE | Class 11

BUSINESS STUDIES 2015

GROUP – A

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

(i) Which of the following is not a feature of business?

(a) Forecasting

(b) Risk & uncertainty

(c) Policy making

(d) Payment of interest to the investor

(ii) Indian Partnership Act was passed in

(a) 1932

(b) 1956

(c) 1872

(d) 1912

(iii) Profit is not disturbed in

(a) co-operative society

(b) Partnership business

(c) Sole-Proprietorship business

(d) Company

(iv) Qualification shares of company are purchased by

(a) the Directors

(b) the Auditor

(c) the employees

(d) the banker of the company

(v) Damodar Valley Corporation (DVC) is a

(a) Government Company

(b) Departmental organization

(c) Statutory corporation

(d) Private organization

(vi) The main objective of Joint venture business is

(a) profit & public welfare

(b) profit earning

(c) public welfare

(d) none of these

(vii) What functions Commercial Banks can not do?

(a) Accepting deposits

(b) Granting loans

(c) Fund transfer

(d) Buying and selling of goods and services

(viii) Which of the following is not a contract of indemnity?

(a) Fire Insurance

(b) Marine Insurance

(c) Life Insurance

(d) Medical Insurance

(ix) Which one of the following is not an ideal process of payment of money in e-business?

(a) Cheque

(b) Cash payment on delivery

(c) Debit and Credit card

(d) transfer through Net-Banking

(x) Responsibility of business towards society is

(a) employment generation

(b) increase in export

(c) earning more profit

(d) payment of taxes regularly

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

(i) Give an example of business activities.

Answer: Business activities include collecting wood from forests and making furniture and selling it to end consumers.

(ii) Mention one feature of partnership business.

Answer: One feature of partnership business is – partners jointly provide business capital.

(iii) What is Memorandum of Association?

Answer: Memorandum of association is a basic and important document of the company. The foundation and structure of the company are written on this document.

Or, What do you mean by Prospectus of company?

Answer: After the company is registered, the documents inviting the public to raise capital and loans are called Prospectus.

(iv) What is co-operative credit society?

Answer: Cooperative Societies which are formed under the Government Act of 1904 to provide short and long-term loans to farmers, artisans, traders, etc. are called Cooperative credit societies.

Or, State one feature of consumers’ co-operative society.

Answer: A feature of Consumers’ Co-operative Society is – consumers get their essential authentic goods at fair prices from such co-operative societies.

(v) Give an example of Board Management.

Answer: An example of board management is the Tea Board of India.

Or, State one feature of statutory corporation.

Answer: One feature of statutory corporation is – The management of statutory corporation is vested in a board of directors appointed by the government.

(vi) Mention one advantage of International Organization.

Answer: One advantage of International organisation is – International Organisations greatly help in technology transfer through technical cooperation.

Or, Give an example of International Organization.

Answer: An example of International organisation is Maruti Suzuki.

(vii) Is it the social responsibility of business not to pollute the environment?

Answer: The responsibility of businessmen is to adopt appropriate policies, decisions, and programs to achieve social values and objectives. These responsibilities are the social responsibility of business. So, it is the social responsibility of business not to pollute the environment.

(viii) Write down one advantage of preference share.

Answer: One advantage of preference share is – The dividend rate is fixed for preference shareholders.

(ix) Mention one source of long-term capital.

Answer: Equity share capital is one source of long-term capital.

Or, Which organization can accept public deposit?

Answer: Company can accept the public deposit.

(x) What is computer virus?

Answer: A computer virus is a method of destroying information by entering into the database through email, pen drive, floppy disk, etc.

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

(i) Describe the economic objectives of business.

Answer: Click here

(ii) State four points of distinction between partnership business and sole-proprietorship business.

Answer: Click here

Or, Describe the features of private limited company.

(iii) Explain the government policy towards joint venture.

Answer: Click here

(iv) Describe the importance of insurance to business,

Answer: Click here

Or, Explain the basic principles of Marine Insurance.

Answer: Click here

(v) Describe the advantages of E-commerce.

Answer: Click here

Or, Explain the concept of outsourcing in business activities.

(vi) Discuss the elements of business ethics.

GROUP – B

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

(i) Preference share capital is

(a) Redeemable

(b) Irredeemable

(c) Redeemable at the time of winding up

(d) none of these

(ii) Industrial Finance Corporation of India was established in

(a) 1947

(b) 1948

(c) 1952

(d) 1956

(iii) Public deposit is collected from

(a) the owners

(b) the public

(c) the buyers

(d) the directors

(iv) Contribution of small scale and cottage industries to National income of India is

(a) 10%

(b) 25%

(c) 40%

(d) 50%

(v) Bata shoe shop is

(a) Departmental shop

(b) Chain stores

(c) Multiple shop

(d) Super market

(vi) Those who shop in supermarket is of

(a) Rich class

(b) Poor class

(c) Middle class

(d) Foreigners

(vii) Which of the following is not a part of main imported items of India?

(a) Petroleum

(b) Ornaments

(c) Machinery

(d) Medical equipments

(viii) World Trade Organization was established in the year

(a) 1986

(b) 1994

(c) 1995

(d) 2000

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

(i) What is equity share?

Answer: Shares which do not receive special benefits in the distribution of dividends or return of capital of the company and the shares, dividends of which are distributed after paying the dues to other creditors are called Equity shares.

Or, 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.

(ii) Why state financial corporation was established?

Answer: State Financial Corporation was formed to provide loans to small and medium enterprises.

(iii) What is bank overdraft?

Answer: In many cases, the bank contractually allows the depositor to withdraw a certain amount from his current account in excess of the deposit. The extra amount of money withdrawn is known as bank overdraft.

(iv) What is cottage industry?

Answer: Cottage industry is the industry which is developed to produce products with the help of hands or hand-operated machines using the resources of the local area in their own premises.

Or, Give two examples of cottage industries.

Answer: Two examples of cottage industries are – making silk from silkworms, pottery.

(v) What is multiple shop?

Answer: If a manufacturer sets up multiple branches or shops in different parts of the country for the purpose of retailing directly to consumers without passing on the products to the middlemen, those branches or shops are called multiple shop. e.g KFC.

Or, What is wholesale trade?

Answer: The process of buying large quantities of products from manufacturers, distributers, importers and selling them to retailers is called wholesale trade.

(vi) What is Chamber of Commerce?

Answer: The organisation of business to protect the interest of business and to meet certain future goals is called Chamber of Commerce.

(vii) What is Bill of Entry?

Answer: On arrival of the goods at the port, the importer has to submit a list with the details of the goods to the customs authorities. This statement is called Bill of Entry.

Or, What is Shipping bill?

Answer: Before loading the goods into the ship, 3 width bill is to be prepared to obtain the necessary clearance from the customs authority to export the goods. The bill contains details of goods, marks, number, quantity, price, name of the port at which the goods are to be discharged, etc. The bill is known as shipping bill.

(viii) Mention one state level financial institution.

Answer: One state level financial institution is – State Financial Corporation (SFC).

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

(i) Describe the objectives of National Small Industries Corporation.

Answer: Click here

(ii) Distinguish between Internal Trade and International Trade.

Answer: Click here

Or, Discuss the functions of World Trade Organization.

Answer: Click here

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

(i) Distinguish between Share and Debenture.

Answer: Click here

Or, Discuss the objectives and functions of Industrial development Bank of India (IDBI).

(ii) What are the functions of Retailers?

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