Board Paper of Class 12-Commerce 2014 Business Studies (SET 1) - Solutions

Q.1 (A) Select the proper option from the options given below and rewrite the sentences                                                                              [5 Marks]

1. A sole trading concern ensures _____________ business secrecy.

(a) minimum

(b) maximum

(c) limited

2. An electronic facility of transferring funds through the Internet is called _____________ transfer.

(a) cash

(b) net banking

(c) credit

3. Business organization is a part of _____________

(a) industry

(b) government

(c) society

4. _____________ is the President of State Commission.

(a) The District Court Judge

(b) The Supreme Court Judge

(c) The High Court Judge

5. According to the principle of _____________ all employees should be given fair treatment.

(a) authority

(b) discipline

(c) equity

Q.1 (B) Match the correct pairs :                                              [5 Marks]

Q.1 (C) Write a word or a phrase or a term which can substitute each one of the following statements:                 [5 Marks]

1. The business organization which has minimum  ten members.

2. The type of warehouse where early perishable goods are stored.

3.  An activity motivated by profit.

4. Father of scientific management.

5. A function where right people are given right jobs.

Q.2 Distinguish between the following (any THREE) :                              [15 Marks]

1. Sole trading concern and Partnership firm.

2. Road transport and Rail transport.

3. Private company and Public company.

4. State commission and National commission.

5. Planning and Controlling.

Q.3 Write short notes on any THREE of the following :                              [15 Marks]

1. Types of partners.

2. Advantages of Outsourcing

3. Rights of consumers.

4. Importance of principles of Management.

5. Importance of Directing.

1. The main purpose of a cooperative organization is to earn profit.

2. Transport is useful in raising standard of living.

3. It is easy to set up e-business as compared to traditional business.

4. 'Management should avoid workers' participation while making decisions.

5. Coordination is needed at all the levels of management.

Q.5 Attempt the following (any TWO) :                              [10 Marks]

1. State social responsibilities of business towards government.

2. State the importance of consumer protection.

3. State any 'five principles' of management given by Henry Fayol.

4. State the characteristics of an 'entrepreneur'.

Q.6 Define 'joint stock company'. Explain its merits and demerits.                              [10 Mark]

OR

Define 'insurance'. Explain the various principles of insurance.