Business Studies Question Paper Solved 2020 | WBCHSE | Class 11

BUSINESS STUDIES 2020

GROUP – A

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

(i) Which one of the following is not legal in case of Profession?

(a) Rendering services

(b) Taking fee

(c) Obey specific code of conduct

(d) Giving advertisement

(ii) Limited Liability Partnership Act was passed in India in the year

(a) 1932

(b) 1956

(c) 2008

(d) 2013

(iii) Separation of ownership from management is seen in

(a) Sole Proprietorship Business

(b) Partnership Business

(c) Joint Stock Company

(d) None of these

(iv) Maximum number of partners in a general partnership business is

(a) 2

(b) 10

(c) 15

(d) 20

(v) Haldia Petrochemicals is a

(a) Joint Venture business

(b) Departmental undertaking

(c) Statutory Corporation

(d) Government Company

(vi) In Co-operative Society, each member’s voting right is

(a) equal

(b) determined by the number of shares

(c) indefinite

(d) none of these

(vii) Types of different organisational forms of Public Sector Enterprises in India are

(a) 3

(b) 4

(c) 6

(d) none of these

(viii) Which one of the following is not ideal payment mechanism of e-business?

(a) Cash on Delivery

(b) By cheque

(c) By Debit and Credit Card

(d) By Net Banking Transfer

(ix) Full form of UCP is

(a) Uncovered Certificate of Posting

(b) Undistributed Certificate of Posting

(c) Under Courier Posting

(d) Under Certificate of Posting

(x) Responsibility of business towards its owner is

(a) Regular payment of tax

(b) Payment of fair wages and salary

(c) Regular payment of dividend

(d) None of these

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

(i) What is Industry?

Answer: The economic process by which humans collect natural resources and transform them with the help of labour and machinery to create value for human use and consumption is called industry.

Or, Give definition of Commerce.

Answer: The activities or services through which the goods of production are sent to the factory and the produced goods are delivered to the consumers are collectively called commerce.

(ii) What is Prospectus?

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

Or, Is registration of Co-operative Society compulsory?

Answer: There exist various types of cooperative societies. Registration of all cooperatives is not mandatory. However, if not registered, legal benefits cannot be enjoyed. So, registration of cooperative societies is compulsory to protect the interests of the members.

(iii) What is the percentage of holding shares of Government in Government sector?

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

(iv) What do you mean by Sleeping Partner?

Answer: A partner who employs capital in the business and receives a proportionate share of the profits and losses but does not take any active part in the management of the business is called a sleeping partner.

(v) Give an example of Statutory Corporation.

Answer: An example of Statutory Corporation is Life Insurance Company of India (LICI).

Or, Give an example of Multinational Company.

Answer: An example of Multinational Company is Maruti-Suzuki.

(vi) Write the full form of NEFT?

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

(vii) What is Courier Service?

Answer: Courier system is another form of regular postal service. This system enables fast and secure delivery of goods and correspondence.

Or, What is Health Insurance?

Answer: In case of physical illness, the poor person and his family are not deprived of medical treatment due to financial crisis, so the insurance company undertakes to bear the medical expenses as per the contract. This is called health insurance.

(viii) 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.

(ix) What do you mean by KPO?

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

Or, What do you mean by Digital Cash?

Answer: Digital cash is a type of electronic currency which is found only in cyberspace and has no physical existence but can be used as a real currency to make online shopping payments.

(x) What do you mean by social responsibility of business?

Answer: Conducting business activities in accordance with generally accepted norms in society and without undermining social interests is called social responsibility of business.

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

(i) Discuss the economic causes of business risk.

Answer: Click here

(ii) Discuss the various steps in setting up of a business organisation.

Answer: Click here

Or, What are the advantages of registration of partnership business?

Answer: Click here

(iii) Distinguish between Life Insurance and General Insurance.

Answer: Click here

Or, Discuss the features of bank draft.

Answer: Click here

(iv) Describe the advantages of e-Business.

Answer: Click here

(v) State the elements of business ethics.

(vi) Discuss the features of Public-Private partnership.

Answer: Click here

Or, Describe the advantages of Government Company.

GROUP – B

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

(i) Dividend is received at fixed rate on

(a) Equity shares

(b) Preference shares

(c) Debentures

(d) None of these

(ii) The other name of Lorry Receipt is

(a) Carriage Receipt

(b) Goods Receipt

(c) Transport Receipt

(d) Road Receipt

(iii) Sources of Internal Capital of a Company is

(a) Equity shares

(b) Preference shares

(c) Retained Earnings

(d) All of these

(iv) Which o the following is not a Large-scale Retail Trade?

(a) Departmental stores

(b) Supermarket

(c) Street Traders

(d) Chain Stores

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

(a) Debentures

(b) Preference shares

(c) Bonds

(d) Loan from financial institutions

(vi) Maximum limit of capital employed in a Micro Enterprise is

(a) Rs. 25 Lakh

(b) Rs. 50 Lakh

(c) Rs. 75 Lakh

(d) None of these

(vii) Debenture holders of a Company are treated as

(a) Owners

(b) Debtors

(c) Creditors

(d) None of these

(viii) World Trade Organisation was established in the year

(a) 1986

(b) 1994

(c) 1996

(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 Public Deposit?

Answer: Money collected from the public by selling Deposit Certificate for a fixed period at a fixed rate of interest is called public deposit.

Or, Give an example of Retained Earnings.

Answer: An example of retained earnings is general reserve.

(ii) What is Trade Credit?

Answer: It refers to the credit provided by one business to another for the purchase of goods and services.

(iii) What is the basic objective of forming District Industries Centres?

Answer: The basic objective of DICs is to create more employment and economic development in rural and hilly districts.

Or, What do you mean by medium enterprise according to MSMED Act?

Answer: As per MSMED Act, Medium enterprises refer to those businesses whose investment in machinery is more than Rs. 5 Crores but less than Rs. 10 Crores.

(iv) What do you mean by Chain Stores?

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, Give an example of Departmental Store?

Answer: An example of Departmental Store is Big Bazaar.

(v) What is Automatic Vending Machine?

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

Or, What is Railway Receipt?

Answer: The receipt issued by the railway authorities for the carriage of goods by rail is known as Railway Receipt.

(vi) What is Letter of Credit?

Answer: In many cases, the seller has doubts about the realization of the price of the product. Therefore, the bank issues a letter of credit to the seller of the product on behalf of the buyer ensuring the price realization. As a result, the purchase and sale are done smoothly.

(vii) What do you mean by 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 Closed Indent?

Answer: A closed indent contains detailed instructions regarding the quality, quantity, price, packing, marking, shipping, and insurance of goods.

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

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

Answer: Click here

(ii) Describe the functions of World Trade Organisation.

Answer: Click here

Or, Discuss the complexities of International Trade.

Answer: Click here

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

(i) Describe the advantages and disadvantages of Inter-Corporate Deposits.

(ii) Briefly explain the basic functions of Chamber of Commerce and Industry.

Answer: Click here

Or, Discuss the services of Wholesaler.

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