Subject: Business Studies

Date: 14/07/2022 Marks: 40

Class : XI Time: 90 minutes

General Instructions:

• The question paper consists of MCQs, Very Short Questions, Short Questions and Long Questions.

• The marks alloted to each question is given in brackets ()

Q1. Choose the correct option for the below mentioned questions. (1X8= 08)

1) Name the occupation in which people work for others and get remunerated in return.

( a ) Business ( b) Profession ( c ) Employment ( d ) None of the above

2) Which of the following is not concerned with profession ?

( a ) Manufacturing goods and services ( b ) Specialised body of knowledge and skill

( c ) Code of conduct ( d ) Formal Training

3) Which of the broad categories of industries covers oil refinery and sugar mills ?

( a ) Primary ( b ) Secondary ( c ) Tertiary ( d ) None of the above

4) Commerce includes activities relating to trade and to trade .

( a ) Auxiliaries ( b ) Subsidiaries ( c ) Supporting ( d ) None of the above

5) Hindu Succession Act was passed in__________

( a ) 1960 ( b ) 1956 ( c ) 1952 ( d ) 1932

6) A partner whose association with the firm is unknown to the general public is called...

( a ) Active partner ( b ) Nominal partner ( c ) Secret partner ( d ) Sleeping partner

7) Provision of residential accommodation to the members at reasonable rates is the objective of....

( a ) Consumers cooperative ( b ) Credit cooperative

( c ) Producers cooperative ( d ) Housing cooperative

8) Which of the following statement is NOT true about a minor partner ?

( a ) He has to bear losses also ( b ) He can inspect books of accounts

( c ) He has an option to continue with a firm even after attaining majority

( d ) He shares only profits .

Q - 2 Answer in 3-5 lines. Each question carries 3 Marks. (3X4 = 12)

1) Commerce comprises of trade and all the services that make trade possible.” Discuss

2) Categories the following into business, profession and employment.

(i) A farmer (ii) An advocate (iii) A clerk (iv) A doctor

(v) A hawker selling toys for children (vi) A person working in scooter repair shop on roadside

3) Write the names of systems which govern membership in Joint Hindu Family business and explain

4) Which form of business is suitable for following types of business and why ?

(a) Beauty Parlour (b) Coaching Centre for science students (c) Fertilizer Shop in Village

(d) Handi Craft Work (e) Restaurant (f) Small repair business

Q - 3 Answer in 8-10 lines. Each question carries 4 Marks. (4X3 = 12)

1) Compare between Business, profession & Employment on the basis of the following:

a) Capital Investment b) Risk c) Transfer of interest d) Examples

2) Explain any four objectives of business.

3) Mangal, Sazia & Suqhbeer Singh wish to start a business in partnership. They want to make a partnership
deed, Suggest what aspects of the deed should be included in it ?

Q - 4 Long questions. Each question carries 8 Marks. (8X1 = 8)

1) JawaharLal prepares ‘Laadoo’ for customers during Holi season every year. He prepared more ‘Laadoo’
than he could sell this year. He employed women and children also and paid them less salary manufacturing
on the packages. This way he generated profit for himself.

(a)Do you think he is fulfilling all the objectives of business? [ 1 Marks ]

(b) If not which aspects of this objective are not being fulfilled? [ 3.5 Marks ]

(c)Write any two values lacking in JawaharLal. [ 3.5 Marks ]

OR

1) Why cooperative forms of organisation are formed? Explain various types of cooperative societies.