M.C.KEJRIWAL F.

M 80

V I D Y A P E E T H
FIRST ASSESSMENT 2021-2022 TIME 3 Hrs.
SUBJECT: COMMERCE
CLASS: XI
Answer Question 1 from Part I and any five questions from Part II.
The intended marks for questions or part of questions are given in brackets [ ]
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PART I (20 Marks)
Answer all questions.
Question 1 [10 x 2]
Answer briefly each of the questions (i) to (x).
(i) What is trade?
(ii) Mention any two limitations of a private company.
(ii) Give two differences between a cooperative society and a joint stock company.
(iv) Name the main form of organisation for public enterprises.
(v) Why does a joint stock company enjoy perpetual existence?
(vi) State the objective of economic activities.
(vii) Define the term ‘Commerce.’
(viii) Who is a minor partner?
(ix) State any two limitations of sole trader.
(x) What is statement in lieu of prospectus?

PART II (60 Marks)

Answer any five questions

Question 2
(a) Discuss any three demerits of partnership. [3]
(b) Distinguish between Memorandum of Association and Articles of Association of a company. [4]
(c) Explain any five advantages of cooperative organisation. [5]

Question 3
(a) Give three distinctions between business, profession and employment. [3]
(b) Briefly any four objectives of a sole trader business. [4]
(c) Discuss five disadvantages of multinational corporations. [5]

Question 4
(a) Explain three main characteristics of business. [3]
(b) Describe any four limitations of a joint stock company. [4]
(c) Define ‘business ethics. State any four importance of it. [5]

This question paper consists of two printed pages.

Question 5
(a) Distinguish between industry, commerce and trade. [3]
(b) ‘Business is run by people and for people.’ In the light of this statement, discuss the
human objectives of business. [4]
(c) State and explain any five social responsibilities of business towards the community. [3]

Question 6
(a) What are extractive industries? [3]
(b) Discuss the role of small business in India. [4]
(c) Briefly explain any five main characteristics of a government company. [5]

Question 7
(a) Discuss four main characteristics of private sector undertakings. [3]
(b) Explain: (a) Partnership at will. (b) General Partnership. [4]
(c) Who is a promoter? Identify four functions of a promoter. [5]

Question 8
(a) State any three main contents of prospectus. [3]
(b) What is a profession? State and explain three main characteristics of a profession. [4]
(c) State five main features of PPP. [5]

Question 9
Write short notes on:
(a) Producer’s Cooperatives. [4]
(b) Stages in Promotion. [4]
(c) Nominal or ostensible or quasi partner. [4]