Business Studies Question Paper Solved 2022 | WBCHSE | Class 11

BUSINESS STUDIES 2022

GROUP – A

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

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

(a) Production of goods and services

(b) Work in a factory for wages

(c) Exchange of goods

(d) Transportation

(ii) The maximum number of members of a Private Limited Company is

(a) 10

(b) 20

(c) 200

(d) no limit

(iii) In independent India the first Companies Act was passed in the year of

(a) 1956

(b) 1957

(c) 1958

(d) 2013

(iv) The full form of ‘LLP’ is

(a) Limited Legal Partner

(b) Limited Legal Partnership

(c) Limited Liability Partner

(d) Limited Liability Partnership

(v) The minimum number of members in Co-operative Society are

(a) 2

(b) 7

(c) 10

(d) 50

(vi) Life Insurance Corporation of India is

(a) Departmental Organisation

(b) Govt. Company

(c) Statutory Corporation

(d) Welfare Organisation

(vii) The main objective of Joint Venture business is

(a) Profit and Public Welfare

(b) Profit earning

(c) Public welfare

(d) None of these

(viii) Minimum share of Government in Government Company is

(a) 49%

(b) 50%

(c) 51%

(d) None of these

(ix) Employees State Insurance is a

(a) Social Insurance

(b) General Insuarnce

(c) Life Insurance

(d) None of these

(x) The reason of popularity of sole-proprietorship is

(a) Easy formation

(b) Absolute Control Capacity of the owner

(c) Profits are not shared

(d) All of these

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

(i) Define the term ‘Profession’.

Answer: Independent rendering of services by acquired qualifications, experience, and skills is called profession. Examples of professional persons are doctors, chartered accountants, lawyers, etc.

Or, What do you mean by Primary Industry?

Answer: All activities which fulfill the basic necessities of human life such as food, clothing and shelter are called primary human activities. All the industries which are developed based on primary human activities are called primary industries. Such industries are – Genetic industry, Extraction industry, Construction industry.

(ii) What is prospectus?

Answer: Before starting a public company, a document has to be filed with the registrar stating various information about the company. This written document is called prospectus.

Or, What do you mean by Articles of Association?

Answer: Under the main document of the company ‘Memorandum of Association’ is another document that records all matters related to the internal management of the company called Article of Association.

(iii) Is registration of Partnership compulsory?

Answer: Registration of partnership firm is not compulsory under the Indian Partnership Act, 1932.

(iv) What do you mean by Private Sector?

Answer: When an industry or business is established on the basis of individual ownership and initiative, it is called a private sector enterprise.

(v) Give one example of Government Company.

Answer: An example of a government company is Steel Authority of India Ltd.

Or, Give one example of Board Management.

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

(vi) Write the full form of RTGS.

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

(vii) What do you mean by ‘Floating Policy’?

Answer: In those cases where there is always a decrease in the stock of goods and the goods are stored in different places, this type of insurance is accepted. Because in the case of such insurance policies, an average rate is fixed and the insurance premiums are collected accordingly.

Or, What do you mean 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.

(viii) What do you mean by 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.

(ix) Which is the first step for promoting Business Organisation?

Answer: The first step for promoting a business organisation is to develop business opportunities.

(x) Mention the names of Co-operative Societies which are formed to protect the interest of Consumer.

Answer: Cooperative societies like Cooperative Fund, Subsidy Fund, and Samobayeka are formed to protect the interest of consumers.

Or, What do you mean by Scheduled Bank?

Answer: Schedule banks are those banks that are listed under the Schedule II of the Reserve Bank of India Act 1934.

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

(i) Show the classification of Industry with example.

Answer: Click here

Or, “Trade, Industry and Commerce is a total unified system.” Explain.

(ii) Distinguish between Private Company and Public Company.

Answer: Click here

Or, What contents are recorded in Partnership Deed?

(iii) Distinguish between Life Insurance and General Insurance.

Answer: Click here

Or, Discuss the role of bank in business sector.

Answer: Click here

(iv) Discuss the characteristics of Joint Venture.

Or, What are the advantages of statutory concern?

Answer: Click here

(v) Discuss any four unique features of Business.

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

Answer: Click here

GROUP – B

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

(i) The full form of FDI is

(a) Foreign Direct Investment

(b) Foreign Direct Instrument

(c) Finance Department of India

(d) Foreign Direct Income

(ii) Industrial Development Bank of India (IDBI) was established in the year

(a) 1951

(b) 1964

(c) 1990

(d) None of these

(iii) Retained Earnings is

(a) Owned Capital

(b) Debt Capital

(c) Both (a) and (b)

(d) None of these

(iv) Primary risk of Company business is borne by

(a) Equity shareholder

(b) Preference shareholder

(c) Debenture holders

(d) None of these

(v) Sources of external capital is

(a) Provision for Depreciation

(b) Retained Earnings

(c) Public Deposit

(d) None of these

(vi) ‘Big Bazaar’ is a

(a) Departmental Store

(b) Chain Store

(c) Multiple Store

(d) Super Market

(vii) The Head Office of WTO is situated at

(a) Geneva

(b) Chicago

(c) Mumbai

(d) Tokyo

(viii) ‘GATT’ came into existence on

(a) January 1, 1947

(b) October 30, 1947

(c) January 1, 1948

(d) October 30, 1948

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

(i) What is Debt 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 debt capital.

Or, What do you mean by 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 do you mean by Trading in Equity?

Answer: Trading on equity refers to the action taken by the company where the company raises debt capital to boost the return on investment for the equity shareholders.

(iii) Write the full form of NSIC.

Answer: The full form of NSIC is National Small Industries Corporation.

Or, Define the term ‘Micro-business’.

Answer: Micro-business refers to businesses whose investment in machinery is less than Rs. 25 lakhs. Again, in case of Micro-businesses engaged in service activities, investment in equipment or small machinery is less than Rs. 10 lakhs.

(iv) 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.

(v) Write an advantage of Mail order business.

Answer: In this business, goods are delivered to buyers after receiving the full price. As a result, there is no risk of bad debt.

Or, Give an example of Itinerant retailer.

Answer: An example of itinerant retailer is Hawkers.

(vi) What is Factoring?

Answer: Individuals or organisations that help in commercial transactions with money in exchange for brokerage, are called Factoring.

(vii) What do you mean by Mate’s receipt?

Answer: It is issued by the captain or mate of the ship to the exporter after the goods are loaded on the ship. It contains information regarding the vessel, description of packages, date of shipment, etc.

Or, What is Re’export trade?

Answer: When a country buys goods from one country and sells those goods to another country, it is called 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.

(viii) Define the term ‘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.

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

(i) Discuss the role of Small Scale Industry in Indian economy.

Or, Discuss the functions of National Small Industries Corporation.

(ii) Discuss the functions of World Trade Organisation.

Answer: Click here

Or, What are the bases of International Trade?

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

(i) Show the differences between Share and Debenture.

Answer: Click here

(ii) Discuss the functions of Wholesale Trade.

Or, Distinguish between Departmental Store and Chain Store.

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