Business Studies Question Paper Solved 2018 | WBCHSE | Class 11

BUSINESS STUDIES 2018

GROUP – A

1. Choose the correct answer from the alternatives: [1 x 10 = 10]

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

(a) Policy making

(b) Risk and uncertainty

(c) Forecasting

(d) Payment of interest to the investor

(ii) Which of the following is a feature of profession?

(a) Special education

(b) Professional independence

(c) Specific code of conduct

(d) All of these

(iii) Maximum number of members in Public Limited Company is

(a) 7

(b) 10

(c) 100

(d) no limit

(iv) Maximum number of members in Private Limited Company does not include

(a) Employee

(b) General Shareholder

(c) Employee Shareholder

(d) Shareholder Director

(v) Steel Authority of India Limited is a

(a) Government Company

(b) Departmental Organization

(c) Statutory Corporation

(d) Private Organization

(vi) Limited Liability Partnership Act was passed in

(a) 1932

(b) 1872

(c) 2013

(d) 2008

(vii) Which one is not the objective of Co-operative society?

(a) Voluntary membership

(b) Democratic control

(c) Concern for the community

(d) Individual profit motive

(viii) A Public Limited Company can start its business after

(a) Certificate of Incorporation

(b) Collection of Capital

(c) Certificate of Commencement of Business

(d) Issue of Shares

(ix) Prospectus is issued by

(a) Sole proprietorship

(b) Partnership firm

(c) Co-operative Society

(d) Company

(x) The main objective of Joint venture business is

(a) profit & public welfare

(b) profit earning

(c) public welfare

(d) none of these

2. Answer the following questions in a sentence or briefly (Alternatives are to be noted): [1 x 10 = 10]

(i) Give an example of Global enterprise.

Answer: Coco cola Corporation is an example of a Global enterprise.

Or, At least in how many countries should a Global enterprise have business?

Answer: A Global enterprise should have business in at least two countries.

(ii) What is the percentage of holding of government of Government Sector?

Answer: Government holds 51% or more shares in government sector business.

(iii) What is Cash Credit?

Answer: When a bank gives a loan to a business organization based on its movable assets and business transactions, that loan is called cash credit.

Or, What is Banker’s Cheque?

Answer: Banker’s cheque is a special type of cheque. After a person deposits money in a bank, the bank issues a cheque called a pay order to that person. This cheque is called banker’s cheque or pay order.

(iv) What is the full form of NEFT?

Answer: The full form of NEFT is National Electronic Fund Transfer.

Or, What is the full form of RTGS?

Answer: The full form of RTGS is Real Time Gross Settlement.

(v) What do you mean by general insurance?

Answer: An insurance contract in which the insured receives indemnification from the insurer against the insured in return for payment of a certain amount of premium, is called general insurance.

(vi) Mention one function of Courier.

Answer: Courier system delivers goods, letters, and information to people quickly and safely.

Or, From where can we have the services of speed post?

Answer: Speed post service is available from post office.

(vii) What do you mean by KPO?

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

(viii) In e-business can payment be made only online?

Answer: Yes, in the case of e-business, only online payment is made.

(ix) What do you mean by CSR?

Answer: CSR stands for Corporate Social Responsibility.

Or, What is the responsibility of the business towards government?

Answer: One of the many responsibilities of the business toward government is – timely payment of taxes due to the government.

(x) Mention one element of business ethics.

Answer: One element of business ethics is – Setting objectives.

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

(i) Classify industry with examples.

Answer: Click here

Or, Write brief notes on warehousing and advertising.

Answer: Click here

(ii) What are the merits of Co-operative societies?

Answer: Click here

Or, Mention the steps in forming a business.

Answer: Click here

(iii) Narrate the features of Statutory Corporations.

Answer: Click here

(iv) Give a brief idea about different types of Bank Accounts.

Answer: Click here

Or, Briefly explain the Principles of Insurance.

(v) What factors should be taken into consideration before outsourcing?

(vi) What is meant by environmental protection? How does it relate to business?

GROUP – B

4. Choose the correct answers from the alternatives: [1 x 8 = 8]

(i) Which of the following is not a part of borrowed capital?

(a) Debentures

(b) Equity shares

(c) Bonds

(d) Loan from financial institutions

(ii) ICD means

(a) International Cash Deposits

(b) Internal Cash Deposits

(c) Inter Corporate Deposits

(d) Inter Commercial Deposits

(iii) Which one is not a financial institution?

(a) IFCI

(b) IDBI

(c) SFCs

(d) SBI

(iv) ‘Retained Earnings’ is

(a) Owned Capital

(b) Debt Capital

(c) Partly owned partly debt capital

(d) None of these

(v) Equity shares provide

(a) Long-term capital

(b) Short-term capital

(c) Partly long-term capital partly short-term capital

(d) None of these

(vi) Trade Credit is provided by

(a) Seller

(b) Buyer

(c) Both buyer and seller

(d) None of them

(vii) NSIC means

(a) National Small Investment Corporation

(b) National Small Industries Corporation

(c) National Small Investment Commission

(d) National Small Industries Commission

(viii) Micro Enterprise means

(a) Larger than small organization

(b) Smaller than small organization

(c) Equal to small organization

(d) All of these

5. Answer the following questions in a sentence or briefly (Alternatives are to be noted): [1 x 8 = 8]

(i) Exemplify one large retailing business.

Answer: Haldiram is an example of large retailing business.

Or, What is Automated Vending Machine?

Answer: A machine that automatically dispenses the desired consumables after payment is called an automatic vending machine.

(ii) What do you mean by Cash on delivery?

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

Or, What is the full form of E & OE?

Answer: The full form of E & OE is Errors and Ommission Excepted.

(iii) Mention one distinction between Debit Note and Credit Note.

Answer: In the case of a debit note, the buyer is the sender.

Whereas in the case of a credit note, the seller is the sender.

(iv) Mention one service rendered by a wholesaler.

Answer: By opening wholesale business centers in various cities, markets, and villages of the country, wholesale traders help in increasing the demand for products and the scope of the market.

Or, Mention one service rendered by a retailer.

Answer: Retailers provide wholesalers and manufacturers with all kinds of information about changes in consumer needs, tastes, preferences, habits, fashion, etc.

(v) Mention one document used in export trade.

Answer: Bill of Lading is a document used in export trade.

Or, Mention one document used in import trade.

Answer: Letter of Credit is a document used in import trade.

(vi) Mention one function of WTO.

Answer: The main function of WTO is to ensure that every member country can enjoy equal trading opportunities.

(vii) 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.

(viii) What is the full form of GATS?

Answer: The full form of GATS is General Agreement on Trade in Services.

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

(i) Briefly state the role of small business in India.

Answer: Click here

Or, Give an idea of progress of MSMEs in India.

Answer: Click here

(ii) Write short notes on TRIPs and TRIMs.

Answer: Click here

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

(i) Mention merits and demerits of long-term sources of fund.

Or, Briefly state the functions of financial institutions.

(ii) Briefly explain the basic functions of Chambers of Commerce & Industry.

Answer: Click here

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