AHSEC| CLASS 12| BUSINESS STUDIES| SOLVED PAPER - 2020| H.S. 2ND YEAR
2020
Business Studies
Times: 3 hours
Full marks: 100
1. (a) Write one important objective of management. 1
Ans: Objectives
are the goals or targets towards which the activities of a business are
directed. From the point of view of management, objectives can be grouped under
three heads (i) Organizational (ii) Social and (iii) Personal.
(i)
Organizational Objectives: The main objective of any organization is to
utilize human and material resources to fulfill its economic objectives.
The
economic objectives of a business are survival, profit and growth as discussed
below:
(a)
Survival: The basic objective of any business is survival. To survive an
organization must earn enough revenue to cover the cost of operations.
(b) Profit:
Mere survival is not enough for the business. The management should earn enough
profit to meet the various costs of the business and also cover the various
business risks.
(c) Growth:
It is very essential for the growth of business. To survive in the market, the
management must fully exploit the growth potential of the organization.
(ii) Social
Objectives: Management is a part of the society so it should have social
objectives.
Social
objectives include the following:
(a) Supply of
quality goods at reasonable prices.
(b) Creation
of employment opportunities.
(c) To provide
financial assistance to community projects.
(d) To control
environmental pollution.
(e) Using
eco-friendly methods of production.
(iii)
Personal Objectives: Personal objectives are related to the employees.
Every
employee has some aspirations on joining the job.
He expects
these aspirations to be met by the organization:
(a) Good
salary and other benefits.
(b)
Opportunities for training, promotion etc.
(c) good and
healthy condition
(d) Recognition
of meritorious work.
(e) Treat
employees as a part of the business,
(b) What is a
trade mark? 1
Ans: A
trademark is a type of intellectual property consisting of a recognizable mark,
design, or expression that identifies the products or services of a particular
source from others, although trademarks used to identify services are usually
referred to as service It is called a symbol.
(c) In which
year Govt. of India announced the New Industrial Policy? 1
Ans: 1956
(d) Write
True or False:
(i) Training
is a systematic learning process. 1
Ans: True.
(ii) Setting
the standard of performance is the first step in the control process. 1t
Ans: True
(iii)
Services can be stored. 1
Ans: False
(iv)
Convenience products have a regular and continuous demand. 1
Ans: True
(v) ISI mark
signifies Quality assurance on electrical goods. 1
Ans: True.
2. What is meant by recruitment? 2
Ans: Recruitment is the process of searching candidates
for various jobs and motivates them to apply for the jobs in the organization.
3. What is meant by ratio analysis?99 2
Ans: Ratio analysis means the analysis of financial
statements through the calculation of ratios.
4. Write two features of Capital market. 2
Ans: (i) Capital market is a market where medium- and
long-term securities are traded.
(ii) It provides
high return on investment.
5. Write two differences between authority and
responsibility. 2
Ans: The difference between authority and responsibility
is given below:
|
Basis |
Authority |
Responsibility |
|
1.
Definition |
It is the
authority of the manager to give orders to his subordinates. |
It is the
duty of the subordinate to perform the tasks assigned to him by his boss. |
|
2.
Delegation |
It can be
delegated to subordinates. |
Responsibility
cannot be delegated. |
6. State two importance of supervision. 2
Ans: The importance of supervision can be explained as
follows:
(i)
Preparation of Work Schedules: Scheduling involves fixing the time and
starting and completing various activities. The supervisor sets the schedule of
work for each person in his unit or section.
(ii)
Improvement in communication: The supervisor maintains direct contact with
the subordinates which leads to effective communication. He also provides
leadership to the workers of his department.
7. What do you mean by management by exception? 3
Ans: Management by exception (MBE) is an important
principle of management control. According to this principle, only significant
deviations from standards require management's attention because they become
exceptions. This principle implies that minor deviations from the standards may
be ignored or given little attention. This will save managerial time, effort
and energy which can be used in important matters. But wherever the deviation
from the standards exceeds the accepted level, the management should take
corrective measures to deal with the situation.
8. Outline three leading features of a good control
system. 3
Ans: (i) Clear Objectives: Before planning the
control system, it is necessary to know clearly the objectives which it will
tend to achieve. The standards of performance should be based on these
objectives.
(ii)
Simplicity: A good system of control should be simple and understandable.
Employees should know what is expected of them and how their performance will
be evaluated.
(ii)
Forward-looking: The system of control should be forward looking in the
sense that it should detect and report deviations immediately. Timely action is
the essence of control.
9. Discuss three objectives of financial planning. 3
Ans: The objectives of financial planning are as follows:
(i) To ensure
availability of adequate funds at the right time: It involves proper
estimation of funds required for various purposes like purchase of long-term
assets or to meet day-to-day expenses of the business etc.
(ii) To check
excess money: Excess money is almost as bad as insufficient money. So, the
financial manager should see that the company does not raise more capital than
is necessary for the business.
(iii)
Liquidity: Liquidity of funds should always be kept in mind while preparing
the financial plan. It is this fluidity during periods of depression that can
perpetuate a concern.
Or
State the
three decisions involved in financial management. 3
Ans: The
three decisions involved in financial management are given below:
(i) Investment
decision
(ii) Financial
decision
(iii) Dividend
decision
(i)
Investment Decisions: The financial manager has to take decisions regarding
investment of funds in various business activities. Fund is Investment should
be made in fixed assets like machines and equipment etc. and investment should
also be made in current assets like raw materials, stock of finished goods etc.
(ii)
Financial Decisions: The finance manager must decide when, where and how to
obtain funds to meet the needs of the company. The choice of sources of finance
should be based on a comparison of the merits and demerits of the available
sources of finance.
(iii)
Dividend Decisions: Such decisions refer to the dividend policy of the
company. The financial manager has to decide whether the company should
distribute or retain all its profits or distribute a portion and retain the
balance.
***
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