BUSINESS STUDIES 2019
GROUP – A
1. Choose the correct answer from the alternatives: [1 x 10 = 10]
(i) A lawyer who is practicing for livelihood is involved with
(a) Business
(b) Profession
(c) Employment
(d) Social service
(ii) Maximum number of members of a co-operative society is
(a) 10
(b) 20
(c) 100
(d) no limit
(iii) Profit is not distributed in
(a) Sole Proprietorship business
(b) Partnership business
(c) Co-operative society
(d) Company
(iv) Reserve Bank of India is a
(a) Government company
(b) Statutory corporation
(c) Departmental undertaking
(d) None of these
(v) Registration of partnership deed is
(a) compulsory
(b) optional
(c) either compulsory or optional
(d) none of these
(vi) Which of the following is a feature of Joint Stock Company?
(a) Common Seal
(b) Limited Liability
(c) Perpetual Existence
(d) All of these
(vii) Investment of capital by the Government in Government Company will be at least
(a) 30%
(b) 50%
(c) 51%
(d) 70%
(viii) PPP means
(a) Public-Private Partnership
(b) Public-Private Proprietorship
(c) Public-Private Project
(d) All of these
(ix) Which of the following is ‘Insurance of Assurance’?
(a) Fire Insurance
(b) Marine Insurance
(c) Life Insurance
(d) Health Insurance
(x) B2C means
(a) Business to Commerce
(b) Business to Company
(c) Business to Customer
(d) All of these
2. Answer the following questions in a sentence or briefly (Alternatives are to be noted): [1 x 10 = 10]
(i) What are business activities?
Answer: Any economic activity legally undertaken for the purpose of relieving human needs and earning profit is called business activity.
Or, Give an example of auxiliaries to trade.
Answer: An example of auxiliaries to trade is Banking.
(ii) What is Partnership at Will?
Answer: According to Section 7 of the Indian Partnership Act 1932, the dissolution of a partnership at the will of the partners is called partnership at will.
Or, Write a 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.
(iii) Give an example of Joint Sector Organization.
Answer: An example of Joint Sector Organisation is Chennai Petroleum Corporation.
Or, Give an example of Government Company.
Answer: An example of a government company is Steel Authority of India Ltd.
(iv) 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.
(v) Write the full form of IFSC.
Answer: The full form of IFSC is Indian Financial System Code.
(vi) What do you mean by ‘Insurable Interest’?
Answer: The insurance contract specifically requires that the insured has an interest in the subject matter of the insurance. The interest of the insured in the subject matter of insurance is called insurable interest.
(vii) What is bearer cheque?
Answer: A cheque that is immediately cashed on presentation to the bank is called a bearer cheque.
Or, What is Bank Draft?
Answer: A bank draft is an order issued by one branch of a bank to another branch to pay a specified amount of money to a specified person or organisation.
(viii) What is BPO?
Answer: When an organisation or company performs any part of its operations or services through a third-party company, it is called Business Process Outsourcing.
Or, What do you mean by ‘Online Payment’?
Answer: When a transaction payment is made through the internet, it is called online payment.
(ix) What is the responsibility of the business towards investors?
Answer: The responsibility of the business towards investors is – Conservation and profitable utilization of borrowed capital and timely payment of interest due on them.
(x) Give the definition of Business Ethics.
Answer: Business ethics refers to surviving 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) Distinguish between Business and Profession.
Answer: Click here
Or, Describe the economic objectives of business.
Answer: Click here
(ii) Distinguish between Private Ltd, Company and Public Ltd. Company.
Answer: Click here
Or, Write the features of Limited Liability Partnership Business.
(iii) Discuss the features of Department undertakings.
Answer: Click here
(iv) Distinguish between Current Deposit Account and Savings Deposit Account.
Or, Narrate different types of Postal Services.
(v) State the resources required for e-business.
(vi) State the various causes of environmental pollution.
GROUP – B
4. Choose the correct answers from the alternatives: [1 x 8 = 8]
(i) Which of the following categories has voting right?
(a) Equity shareholders
(b) Preference shareholders
(c) Debenture holders
(d) Bond holders
(ii) Zero-interest Bond is called as
(a) Convertible Bond
(b) Callable Bond
(c) Deep Discount Bond
(d) None of these
(iii) Cumulative Prefernce share has
(a) no claim on unpaid unpaid dividend
(b) claim on unpaid dividend
(c) both (a) and (b)
(d) None of these
(iv) Which of the following is not a source of External Capital?
(a) Debentures
(b) Loan from financial institutions
(c) Public Deposits
(d) Retained Earnings
(v) Which of the following is not Itinerant Retailer?
(a) Wholesaler
(b) Hawker
(c) Stall owner
(d) None of them
(vi) Debit note is prepared by
(a) Sales representative
(b) Seller
(c) Customer
(d) Insurer
(vii) The Head Office of WTO is situated in
(a) Geneva
(b) Washington DC
(c) New Delhi
(d) Paris
(viii) Issue of Letter of Credit is done by
(a) Bank of Importer
(b) Bank of Exporter
(c) Both (a) and (b)
(d) None of these
5. Answer the following questions in a sentence or briefly (Alternatives are to be noted): [1 x 8 = 8]
(i) 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.
Or, What is ploughing back 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.
(ii) What is Inter-Corporate Deposits?
Answer: When a company borrows money from another company to meet its short-term funding deficit, it is called an inter-corporate deposit (ICD).
(iii)What is the full form of NSIC?
Answer: The full form of NSIC is National Small Industries Corporation.
(iv) Define 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, Mention two demerits of small industry.
Answer: Two significant demerits of small industry are –
1) In small industries, raw materials of suitable quality are not available, resulting in non-production of certain quality products and disruption of production.
2) Productivity does not increase in the absence of expert and skilled managers. Because many owners do not have prior experience in this matter. As a result, lack of efficiency in business management is observed.
(v) 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.
Or, What is Chambers of Commerce and Industry?
Answer: Chamber of Commerce and Industry is a business organisation to protect business interests and achieve certain future goals.
(vi) Mention one document used in Internal Trade.
Answer: Pro forma Invoice is a document used in internal trade.
(vii) What is Certificate of Origin?
Answer: A Certificate of Origin is a certificate issued in order to obtain special benefits in respect of customs duties in international trade, indicating the place of origin of the goods.
Or, 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.
(viii) What is Entrepot Trade?
Answer: When a country buys goods from one country and sells those goods to another country, it is called entrepot trade. It is also known as re-export trade. For example – If Bangladesh buys coal from India and sells it to Bhutan, then it is a re-export trade of Bangladesh.
6. Answer the following questions (Alternative is to be noted): [4 x 2 = 8]
(i) Describe the role of District Industries Centres in the formation and development of small business.
Answer: Click here
(ii) Explain, in brief, the preparatory stage and goods sending stage of general procedure of import.
Or, What are the bases of International Trade?
7. Answer the following questions (Alternative is to be noted): [6 x 2 = 12]
(i) Describe the objectives and functions of Industrial Development Bank of India.
Or, Distinguish between shares and debentures.
(ii) Distinguish between Departmental Store and Chain Stores.
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