Sample Paper
Term 1 EXAMINATION (2023-24)
CLASS: XI
SUBJECT: BUSINESS
STUDIES
TIME: 03 HOURS M.M. : 80
General
Instructions:
·
Answers to
questions carrying 1 mark may be from one word to one sentence.
·
Answers to
questions carrying 3 marks may be from 50-75 words.
·
Answers to
questions carrying 4-5 marks may be about 150 words.
·
Answers to
questions carrying 6 marks may be about 200 words.
·
Marks of the
questions are cited against them.
·
Read the question
paper very carefully before attempting questions.
|
Q.
No. |
Multiple
Choice Questions |
Marks allocated |
|
1. |
Which of the following does
not characterize business activity? (a) Presence of risk (b) Production of goods and
services
(c) Salary and wages (d) Sale or exchange of goods and
services |
(1) |
|
2. |
Centralised
control in MNC’s implies control exercised by (a) Branches (b) Subsidiaries (c) Headquarters (d) Parliament |
(1) |
|
3. |
E-banking
services are provided by (a) Transport companies (b) Banks (c) Cellular companies (d) None of the above |
(1) |
|
4. |
E-commerce
does not include: (a) A business’s interactions with
its suppliers (b) A business’s interactions with
its customers (c) Interactions among the various
departments within the business (d) Interactions among the
geographically dispersed units of the business |
(1) |
|
5. |
Social
responsibility is: (a) Same as legal responsibility (b) Broader than legal responsibility (c) Narrower than legal responsibility (d) None of them |
(1) |
|
6. |
Equity
shareholders are called: (a) Owners of the company (b) Partners of the company (c) Executives of the company (d)
None of these |
(1) |
|
7. |
A government
company is any company in which the paid up capital held by the government is
not less than: (a) 42% (b)50% (c)
52% (d) 51% |
(1) |
|
8. |
What are the main reasons behind
the slow growth in the size of sole Proprietorship firms? (a) Unlimited Liability (b)
Limited resources (c)
All of these (d)
Limited managerial ability |
(1) |
|
9. |
The
occupation in which people work for others and get fee in return is known as: (a) Business
(b) Profession
(c)
None of these (d)
Employment |
(1) |
|
10. |
Which
of the following cannot be classified as an auxiliary to trade? (a) Insurance
(b) Warehousing
(c) Transport (d) None of these |
(1) |
|
11. |
The
capital of a company is divided into number of parts each one of which are
called (a) Dividend (b) Profit (c) Interest (d) Share |
(1) |
|
12. |
Which
of the following is a characteristic of a co-operative Society? (a)
Profits are not subject to
income tax (b) One vote per share (c) Dividends are paid on a per share basis (d) All of the above |
(1) |
|
13. |
Goods
are stored in…….. (a) Wareshouse
(b) House Colony (c)
Keeping in
open (d)
None of the above |
(1) |
|
14. |
Which
of the following enterprises may benefit the most by an established brand
name at the time of incorporation? (a) Government Company (b) Statutory corporations (c) Departmental Undertaking (d)
Joint Venture |
(1) |
|
15. |
Ethics is important for (a)
Top management (b)
Middle-level managers (c)
Non-managerial employees (d) All of them |
(1) |
|
16. |
Which
of the following is not applicable in life insurance contract? (a) Conditional contract (b) Unilateral contract (c) Indemnity contract (d) None of the above |
(1) |
|
17. |
Both
Sellers and buyers are business firms, under ___type of e-commerce
transaction (a) B2B Commerce (b) C2B Commerce (c) B2C Commerce (d) C2C Commerce |
(1) |
|
18. |
Under
what method payment is made at the time of physical delivery of goods (a) Cash on delivery (b) Debit card payment (c) Credit card payment (d) Prepaid amount |
(1) |
|
19. |
That
an enterprise must behave as a good citizen is an example of its
responsibility towards (a) Owners (b) Workers (c) Consumers (d) Community |
(1) |
|
20. |
Funds raised through
loans or borrowings are_______________________ (a) Share
capital (b) Owner’s
equity (c) Borrowed
funds (a)
None of these |
(1) |
|
|
Very Short Answer Type Question |
|
|
21. |
Explain
in brief the various types of business finance and their uses |
(3) |
|
22. |
Draw a
chart showing the classification of Business Activities. Or It is a public
enterprise established under the Indian Companies Act and conducts business
in competition with companies in private sector. i) a) Identify the type of public enterprise highlighted above. ii) b)
What is the minimum investment government has to make in such
companies. iii) c)
State any one merit and any one demerit of such type of company. iv) |
(3) |
|
23. |
Sharma
Ltd is a company established in India. They extended their operations to the
Dubai and USA by establishing places of business in these countries. (a) Identify the type of company
Sharma Ltd is? State
any of its four features. Or What
are the advantages and disadvantages of Partnership. |
(3) |
|
24. |
“A
business owes certain obligations towards different group”. Identify those
groups and explain the obligations of business towards those groups. |
(3) |
|
|
Long Answer Type Questions |
|
|
25. |
Www.amazon.com
and qicker.com are examples of well known websites used to conduct business.
Tarasha’s sofa set got spoilt in rain. Her friend suggested that she should
change the fabric so that it looks new and put it for sale on amazon. Tarasha
followed her friend’s advice and got her sofa repaired so that it looked
better and uploaded nicely clicked pictures on the website without disclosing
the fact that it was damaged from inside. She found a buyer and sold it for
Rs 10,000. After five days the buyer found the real state of sofa set and
called Tarasha but she did not answer any of the call. a)
Identify the type of business highlighted in the above case. b)
Identify any two values which are overlooked by Tarasha. c) Explain any two benefits and limitations of
e-business |
(4) |
|
26. |
Give
a comparative study between e-business and traditional business. (Any 4 Points) |
(4) |
|
27. |
Discuss
the sources from which a large industrial enterprise can raise capital for
financing modernization and expansion. |
(4) |
|
28. |
Define
industry. Explain various types of industries giving examples. |
(4) |
|
29. |
Explain the
principles of insurance briefly with suitable examples. (any four) |
(4) |
|
30. |
Explain
the meaning of Public Deposit with its merits and demerits. Or Explain trade credit as a source of
finance for a business enterprise. |
(4) |
|
|
Very Long Answer Type Questions |
|
|
31. |
Read
the paragraph given and answer the following questions: Manish,
Rahul and Madhav live in the same locality. They used to meet and discuss
their ideas. After discussing the recent fire breakout in their area,
they decided to take fire insurance for their house or work area. Manish
gets his house insured against fire for ₹1 lakh and during the policy period,
his house gets damaged due to fire and the actual loss amounts to ₹2.5 lakh.
The insurance company acquired the burning material and approved his claim.
Rahul gets his godown insured against fire for ₹1 lakh but does not take
enough precautions to minimize the chances of fire like installing fire
extinguishers in the factory. During the policy, a fire takes place in his
godown and he does not take any preventive steps like throwing water and
calling the employees from the fire fighting department to control the fire.
He suffered a loss of ₹1,20,000. Madhav took a fire insurance policy of ₹20
lakh for his factory at an annual payment of ₹24,000. In order to reduce the
annual premium, he did not disclose that highly explosive chemicals are being
manufactured in his factory. Due to a fire, his factory gets severely
damaged. The insurance company refused to make payment for the claim as it
became aware of the highly explosive chemicals. A)
How much can Manish claim from the insurance
company? 1.
2.5 Lakhs 2.
1 Lakh 3.
2 Lakhs 4.
None of the above b) How much compensation
can Rahul get from the insurance company? 1.
₹2,00,000 2.
₹1,20,000 3.
₹1,00,000 4.
Nil c)Which principle is
violated in the case of Rahul? 1.
Mitigation 2.
Insurable Interest 3.
Utmost Good Faith 4.
Indemnity d) How much amount is the
insurance company liable to pay to Madhav if he files a case against it? 1.
24,000 2.
Nil 3.
Insufficient information 4.
20 lakh e) Which principle of
Insurance is violated by Madhav? 1.
Utmost Good Faith 2.
Insurable interest 3.
Subrogation 4.
Proximate Cause f) The insurance company
acquired the burnt material and approved his claim. Which principle
of Insurance is highlighted in the given statement. 1.
Mitigation 2.
Indemnity 3.
Proximate Cause 4.
Subrogation |
(6) |
|
32. |
Identify the type of public sector enterprises in the following
statements: i) a) RBI and FCI are the examples of this form of enterprise. ii) b)
It enjoys maximum autonomy in all business decisions. iii) c)
These are established under an act of Parliament. iv)
d) Where national security is concerned, this form
is most suitable. v) e)
This enterprise is financed directly from the government treasury. vi) f) Indian Railways and Post
and Telegraph are the examples of this form of enterprise. vii) |
(6) |
|
33. |
From which
source a firm can raise long-term funds as loans when not provided by a
commercial bank? Discuss its merits and demerits. Or What do
you mean by owner’s fund? When it is not suitable? |
(6) |
|
34. |
What
are the advantages and disadvantages of Joint Hindu Undivided Family Business? |
(6) |
*** all the best ***
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