Organization of Commerce & Management

Q.1

(A) Fill in the blanks.

1. The Karata in joint Hindu family business has unlimited liability.

2. Perishable goods are stored in cold storage warehouse.
3. The process of contracting a business function to someone else is called as outsourcing.
4. Businessmen are members of the society.
5. Government has established Lok Adalat to settle consumers ‘disputes by compromise.
6. The maximum number of partners for a firm carrying on banking business is 10.
7. Door-to-door service is offered by road transport
8. Business organization is a part of society.
9. In modern competitive market consumer is regarded as king
10. Planning is basic function.
11. Indian partnership act was passed in the year 1932
12. In Indian railways are on and manage by government.
13. Staffing is concerned with human factor.
14. Business man are Trustees of the society.
15. National commission has 4 members in addition to the chairman.
16. Overdraft facility is given to current account.
17. In e-business payments have to be made online
18. Ultimate goal of business must be satisfaction of consumers
19. A sole trading concern ensures maximum business secrecy
20. For online transaction registration is required.
21. Credit or debit cards are popularly known as plastic money
22. To make timely payment of proper taxes is the responsibility of organization towards the
government.
23. Under the consumer protection act 1986, there is a three – tier quasi-judicial consumer
dispute redressal machinery for solving the complaints of the consumers.
24. An electronic facility of transferring funds through the internet is called net banking transfer
25. Business organization part of society.
26. The high court judge is the president of state commission
27. according to the principle of equity all employees should be given fair treatment.
Regards: Noor Shaikh
: 9699597228 ORGANIZATION OF COMMERCE & MANAGEMNET Digit Educations
 Organization of Commerce & Management

28. the maximum number of members in a private company are 50

29. the principle of indemnity is not applicable to life insurance
30. for online transaction registration is required
31. to maintain industrial peace is the responsibility of business organization towards employees
32. F.W. Taylor is called as the father of scientific management.

(B) Match the Following.

1. Private company • Maximum 50 members

2. Principle of unity of command • One man one boss
3. Planning • Basic function
4. ATM • 24 hours service
5. Road transport • The cheapest means of transport
6. Sole trader • To earn profit
7. Life insurance • Principle of indemnity
8. Business ethics • Branch of social science
9. Henry Fayol • Father of modern management
10. Planning • Primary function of management
11. Public company • Unlimited members
12. Controlling • Corrective action taking
13. Reserve bank of India (RBI) • Central bank
14. Fixed deposit account • Withdrawal after fixed period of time
15. Overdraft • Current account
•
16. Consumer protection act • 1986
17. Commend seal • Joint stock company
18. Bonded warehouses • Located within the ports
19. B 2 C • Business to consumer
20. Mumbai Grahak panchayat • Non-government organization working for
consumers
21. Staffing • related with human factors
22. co-operative society • one member one vote
23. F.W. Taylor • Father of scientific management
24. Directing function • Manager

Regards: Noor Shaikh

: 9699597228 ORGANIZATION OF COMMERCE & MANAGEMNET Digit Educations
 Organization of Commerce & Management

25. Rail transport • Government owned

26. Staffing • Right people to right jobs
27. District judge • President of district forum
28. E business • Electronics business

(C) One Word.

1. A partner who gives his name to a partnership firm. Nominal partner

2. Getting products of better quality is the basic right of this group of society. Consumer
3. A consumer dispute redressal agency that handles claims up to rupees twenty lakhs. District
forum
4. The principle of management which advocates that works should be divided into small sub-
parts. Division of work
5. One of the function of the management is considered as a base for al function. Planning
6. ‘one man shows ‘type of business organization. Sole trader
7. A bank which is known as banker’s bank. Central bank
8. Name the modern process of controlling a business to someone else. Outsourcing
9. Name the employees organization protecting their rights. Trade union
10. Principle of management that says that any work should be divided into small parts. Principle
of division of work
11. The senior most family member of a Joint Hindu Family firm. Karta
12. Getting good quality products is the basic right of this group of society. Consumers and
customers
13. A consumer disputes redressal forum working at state level. State commission
14. Father of modern management. Henry Fayol
15. A function of management directly related to human being. Staffing
16. A partner who gives only his name to the partnership firm. Nominal partner
17. The term derived from the terms e-mail and e-commerce. E-business
18. The right of consumer which allows him to express his views. Right to be heard or right to
representation
19. The principle of management explaining about fair payment to workers. Fair remuneration

Regards: Noor Shaikh

: 9699597228 ORGANIZATION OF COMMERCE & MANAGEMNET Digit Educations
 Organization of Commerce & Management

20. The form of electronic currency that exist only in cyberspace. Digital cash/ digital currency/
electronic cash
21. The type of commercial organization established for providing services to its members.
Partnership firm & joint stock company.
22. A consumer dispute redressal agency that handle claims more than 1 crore. State
commission & national commission.
23. The statement that disclose fundamental truth of management. Planning & controlling
24. A process wherein the manager instructs, guides and communicates with employees. Co-
operative society & joint hindu family firm.
25. A set of principle of right conduct. Business ethics
26. The principle of management which says utility is strength. Esprit de corps
27. A process where managers instruct guide and communicate with employee. Directing

Q.2 Distinguish Between.

1. Sole trading concern & partnership firm & joint stock company.
2. Saving account & Fixed capital account & Current account & fixed deposit account.
3. District forum & national commission & State commission.
4. Co-operative & joint Hindu family firm.
5. Road Transport & Water Transport & Rail transport.
6. Private company & public company.
7. Organizing & Directing & Planning & Controlling & Staffing
8. Bonded warehouse and Duty Paid warehouse.

Q.3 Short notes.

1. Advantages/ Disadvantages of e - business.

2. Advantages of outsourcing.
3. Any ‘five cases’ (needs) of social responsibilities of business.
4. Any ‘five types’ of banks.
5. Any ‘five’ principles of management.
6. Elements of business ethics.
Regards: Noor Shaikh
: 9699597228 ORGANIZATION OF COMMERCE & MANAGEMNET Digit Educations
 Organization of Commerce & Management

7. Features/Nature of Joint Hindu Family Business.

8. Features/Nature of a Joint Stock Company.
9. Merits and limitations of air transport.
10. Features/Nature of co-operative society.
11. Features/Nature of sole trading concern.
12. Functions/Nature of a Warehouse.
13. Importance of Directing.
14. Importance of coordination.
15. Importance of organizing.
16. Importance / significance of principles of management.
17. Importance of staffing.
18. Merits of Co - operative Society.
19. Nature of principles of management.
20. Principles of Insurance.
21. Rights of consumers.
22. Role of Transport.
23. Social responsibility of business organizations towards consumers.
24. Techniques of scientific management.
25. Types of partners.

Q.4 State with reasons whether the following statements are True or False. (Any Three) [15]

1. Business ethics is not applicable to all business organizations.

2. A Joint Stock Company can raise huge capital.
3. Business organization does not have various types of social responsibilities.
4. Business organization is not responsible to control pollution.
5. Business should not disclose their records to investors.
6. Cash can be withdrawn from ATM at any time.
7. Co - operative society differs from other forms of commercial organizations.
8. Consumer Protection Act is a blessing for the consumers.
9. Coordination is needed at all the levels of management. [True]
10. E-business allows you to work across the globe in any field.
11. In India Consumer Protection Act is not required.
Regards: Noor Shaikh
: 9699597228 ORGANIZATION OF COMMERCE & MANAGEMNET Digit Educations
 Organization of Commerce & Management

12. In partnership the liability of partners of a firm is unlimited.

13. It is easy to set up e – business as compared to traditional business. [True]
14. Lok Adalat' is one of the effective ways to resolve consumer problems.
15. Management should avoid workers' participation while making decisions. [False]
16. Maximization of profit is the object of a co-operative society.
17. Maximum number of members in a Joint Hindu Family Firm is 20.
18. Planning has vital importance in the management process.
19. Post offices provide money remittance services.
20. Principles of management are rigid.
21. Principles of management improve the efficiency of employees.
22. Reserve Bank of India cannot accept deposits from public.
23. The Consumer Protection Act was passed in the interests of the sellers.
24. The ownership and management is not separated in a Joint Stock Company.
25. The principle of indemnity is applicable to life insurance.
26. Training broadens the vision of entrepreneurs.
27. Transport is useful in raising standard of living. [True]
28. e- business means using the internet to connect people and processes.

Q.5 Attempt the following. (Any two) [10]

1. Explain the characteristics of an entrepreneur.

2. State any 'five principles' of management given by Henry Fayol.
3. State social responsibilities of business towards government.
4. State the principles of Scientific Management.
5. State the advantages of Road Transport.
6. State the characteristics of Entrepreneurship.
7. State the factors motivating the entrepreneur.
8. State the features of sole trading concern.
9. State the functions of an Entrepreneur.
10. State the importance of consumer protection.
11. State the importance of controlling.
12. State the importance of principles of management.
13. State the registration procedure for a partnership firm.
Regards: Noor Shaikh
: 9699597228 ORGANIZATION OF COMMERCE & MANAGEMNET Digit Educations
 Organization of Commerce & Management

14. State the responsibilities of business towards employees.

15. State the responsibilities of consumers.
16. State the right of consumers.
17. State the social responsibilities of a business towards consumers.
18. State the steps involved in online transactions.
19. State the types of cooperative societies.
20. State the ways and means of consumer protection.
21. State the working of a Payment Gateway.

Q.6 ANSWER IN BRIEF [ANY ONE] (10)

1. Define 'insurance'. Explain the various principles of insurance.

2. Define 'joint stock company'. Explain its merits and demerits.
3. Define Bank. Explain different types of banks.
4. Define Co - operative Society. Explain merits and demerits of Co - operative Society
5. Define Fire Insurance. Explain the various types of fire Insurance Policy.
6. Define Joint Stock Company and explain its features
7. Define Life Insurance. Explain the types of Life Insurance Policies.
8. Define a Sole Trading Concern. Explain its merits and demerits.
9. Define a partnership firm. Explain its merits and demerits.
10. Define commercial bank? Explain its primary functions.
11. Define ‘Controlling’. Explain its importance.
12. Define ‘Planning’. Explain its importance.
13. What is organizing? Explain the nature of organizing.

Regards: Noor Shaikh

: 9699597228 ORGANIZATION OF COMMERCE & MANAGEMNET Digit Educations