AHSEC| CLASS 11| BUSINESS STUDIES| SOLVED PAPER - 2021| H.S. 1ST YEAR
2021
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. (a) Business risk is not likely to arise due to - 1
(i) changes in government policy
(ii) good management
(iii) employee’s dishonesty
(iv) power failure (Choose the correct answer)
(b) The capital of accompany divided into number of parts each one of which are called – 1
(i) dividend
(ii) profit
(iii) rate
(iv) share (Choose the correct answer)
(c) Which of the following is not private undertaking? 1
(i) Partnership
(ii) Departmental undertaking
(iii) Joint-stock company
(iv) Sole trade (Choose the correct answer)
(d) Risk in online transaction is – 1
(i) diversion of risk
(ii) duplicacy of information
(iii) misuse of information
(iv) None of the above (Choose the correct answer)
(e) E-commerce does not include – 1
(i) a business’s interactions with suppliers
(ii) a business’s interactions with its customers
(iii) interactions among the various departments of a business
(iv) interactions among the geographically dispersed units of the business (Choose the correct answer)
(f) Social responsibility is – 1
(i) same as legal responsibility
(ii) broader than legal responsibility
(iii) narrower than legal responsibility
(iv) None of the above (Choose the correct answer)
(g) Preference share capital has priority both in repayment of dividend as well as capital. (Fill in the blank) 1
(h) Minimum number of members required for making private company is – 1
(i) 2
(ii) 3
(iii) 5
(iv) 7 (Choose the correct answer)
2. Why is business considered as economic activity? 2
Ans:- Business is considered an economic activity as it involves buying and selling of goods and services for the purpose of earning profits. Since business involves monetary objective, it is an economic activity.
3. What is meant by unlimited liability? 2
Ans:- Unlimited liability is a legal obligation that requires business owners to repay their company's debts and other financial obligations. This obligation extends beyond the owners' investments to their personal assets.
Unlimited liability is common in sole proprietorships and general partnerships. This also applies to general partners in a limited partnership.
4. What is public-private enterprise? 2
Ans:- Public enterprise: Sectors or enterprises are businesses that are owned and controlled by the government. Here, a company can be partially or completely managed by the central or state government and participate in many economic activities of a country.
Private Enterprise: Private sector or enterprises are businesses that are owned by a private group or individual. The different types of businesses under private enterprises are partnership, sole proprietorship, cooperative and company.
5. What is meant by Central Bank? 2
Ans:- Central Bank is the bank of any country which is entrusted with the duty of regulating the currency and the amount of credit in that country. It issues currency, controls the money supply and regulates various interest rates in a country. Furthermore, the central bank regulates and regulates the activities of all commercial banks in a country.
6. Give the meaning of B2B Commerce. 2
Ans:- B2B commerce i.e. business to business involves e-commerce transactions between business firms using electronic data interchange (EDI) technology.
B2B commerce transactions can occur between two companies, such as wholesalers and online retailers. Transactions at the wholesale level are usually B2B, while transactions at the retail level are often B2C.
7. Write the differences between e-Business and traditional business. 3
Ans:- Here are some of the differences between e-business and traditional business:-
(i) Location: Traditional businesses operate in physical locations, such as stores, offices, factories or warehouses. E-businesses operate primarily online through websites, social media, and other digital platforms.
(ii) Transactions: Traditional businesses rely on face-to-face interactions to conduct business transactions. E-businesses conduct all their sales online.
(iii) Ease of establishment: E-business is easy to set up, whereas traditional business is difficult to set up.
8. Write three arguments against social responsibility. 3
Ans:- Here are three arguments against social responsibility:-
(i) Lack of skills: Critics argue that businesses do not have the necessary skills or expertise to solve social problems. For example, a business may not be able to effectively address issues such as poverty or homelessness.
(ii) Burden on consumers: Critics argue that social responsibility may increase prices for consumers. This is because businesses can pass the cost of social programs onto their customers in the form of higher prices.
(iii) Violation of profit maximization: Critics argue that social responsibility is a violation of the profit motive. He argues that businesses should focus on making money, not solving social problems.
9. Write three functions of promotor of a business. 3
Ans:- The promoter performs the following main functions:-
(i) To consider forming a company and explore its possibilities.
(ii) If the intention is to purchase the business as an existing business, to carry out necessary negotiations for purchasing it. If considered necessary in this context, help of experts can be taken.
(iii) To assemble the requisite number of persons (i.e. seven in the case of a public company and two in the case of a private company) who can sign and agree to the 'Memorandum of Association' and 'Articles of Association'.
10. What are the features of bill of exchange? 3
Ans:- Following are the features of bill of exchange:-
(i) Bill of exchange An instrument in writing.
(ii) It is prepared and signed by the maker of the bill i.e. the issuer of the bill.
(iii) It is drawn up to pay a specified amount to a specific person i.e. the payee.
11. What are the differences between an ancillary unit and a tiny unit? 3
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