AHSEC| CLASS 11| BUSINESS STUDIES| SOLVED PAPER - 2022| H.S. 1ST YEAR
2022
BUSINESS STUDIES
(Commerce)
(Theory)
Full Marks: 80
Pass Marks: 24
Time: 3 hours
The figures in the margin indicate full marks for the questions
1. Answer the following questions: 1x8=8
(a) Name one type of secondary industry.
Ans:- Manufacturing industry.
(b) Write one feature of Joint Hindu Family business.
Ans:- (i) Formation:
(a) There should be at least two male members in the family to form a HUF.
(b) The ancestral property must be inherited by the members of the HUF.
(c) What is the maximum number of members of a public company?
Ans:- No limit.
(d) What is double insurance?
Ans:- Double insurance is a type of insurance where the same subject matter is insured more than once. In such cases the same subject is insured but with different insurers. The practice of double insurance is considered a legal practice.
(e) What is meant by e-business?
Ans:- E-business or online business means business transactions done online with the help of the Internet. The term e-business came into existence in the year 1996. E-Business is the short form of Electronic Business. Therefore the buyer and seller do not meet in person.
(f) What is social responsibility of business?
Ans:- Social responsibility is the moral responsibility of a company or individual to take decisions or actions that are beneficial and beneficial to society. Social responsibility in business is commonly known as corporate social responsibility or CSR. For any company, this responsibility indicates that they accept and appreciate the goals of society, and therefore, will support them to achieve these goals.
(g) Who is a promoter?
Ans:- Promoter is a person or group of persons or a company who performs various functions to bring a company into existence.
(h) Write the full form of EFT.
Ans:- Electronic Funds Transfer (EFT).
2. Write two objectives of SIDBI. 2
Ans:- Small Industries Development Bank of India (SIDBI) has several objectives, which include:-
(i) Financial assistance: To provide financial assistance to micro, small and medium-sized enterprises (MSMEs).
(ii) Regulation: To regulate MSMEs and facilitate technology modernization and upgradation.
3. Distinguish between Invoice and Proforma Invoice. 2
Ans:- Here are some differences between proforma invoice and invoice:-
(i) Purpose: A proforma invoice is used to create a sale, while a invoice is used to confirm a sale.
(ii) Legal significance: A proforma invoice is a preliminary agreement, whereas an invoice represents the actual sale and has legal significance.
4. What is meant by foreign trade? 2
Ans:- Foreign trade is the exchange of goods and services between two countries in the international market. It helps in availability of raw material/finished product in a country where it is either not available or in shortage.
5. What is prospectus? 2
Ans:- A prospectus is an advertisement or invitation from a company to the general public to subscribe for or purchase shares or debentures issued by the company. This invitation to buy shares is also known as Initial Public Offering (IPO), through which a public company can raise funds as per its requirement.
6. What is business ethics? 2
Ans:- 'Ethics' is a Greek word meaning character; Ideal norms, ideals prevalent in a group or society. Business ethics refers to the relationship between business objectives, practices, techniques, and the well-being of society. It refers to the socially determined ethical principles that should govern a wealthy person's business activities.
7. Write the drawbacks of outsourcing. 3
Ans:- Some of the drawbacks of outsourcing are as follows:-
(i) Loss of control: When you outsource, you lose control over the outsourced tasks and processes. This can make it difficult to ensure that the work is done to your standards and that it meets your deadlines.
(ii) Negative impact on employees: Outsourcing may lead to job losses and low employee morale. Employees may feel that they are being replaced and that their work is not valued.
(iii) Data Security and Privacy Risks: When you outsource, you may have to share confidential data with a third party company. This can increase the risk of data breaches and identity theft.
8. Write three merits of joint sector enterprise. 3
Ans:- Here are three merits of joint sector enterprise:
(i) To curb concentration of economic power: Joint sector enterprises are owned and operated by both the government and the private sector. This helps ensure that no single entity has too much power in the economy.
(ii) Social control over industry: Joint sector enterprises can be used to promote social welfare goals, such as providing employment opportunities and reducing regional disparities.
(iii) Accelerating economic growth: Joint sector enterprises can help in accelerating economic growth by uniting the resources of the government and the private sector. This can lead to increased investment, innovation and production.
9. Write three advantages of partnership concern. 3
Ans:- The three advantages of partnership firm are as follows:-
(i) Shared responsibility and work: When two or more people work together as partners, they can share the responsibility and work of running the business. This can make work easier and can also help reduce stress on a person.
(ii) Pooling money and talent: When partners pool their money and talent, they can create a stronger and more successful business. This is because each partner can bring to bear their own unique skills and experiences.
(iii) Flexibility: Partnership can be a very flexible structure, which can be beneficial in a changing business environment. For example, partners can easily add or remove partners as needed, and they can also adjust their business structure to meet changing needs.
10. Write three economic objectives of a business. 3
Ans:- There are three economic objectives of a business:-
(i) Profit maximization: This is the primary objective of most businesses. Profit is the difference between revenues and expenses, and it is what allows a business to remain in operation and grow.
(ii) Growth: Businesses want to grow to increase their profits and market share. Growth can be achieved in a number of ways, such as expanding into new markets, launching new products or services, or acquiring other businesses.
(iii) Survival: This is the most basic objective of any business. A business must be able to survive to achieve its other objectives. This means generating enough revenue to cover your costs and complying with all applicable laws and regulations.
11. Write three primary features of services. 3
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