Kerala Plus One Business Studies Previous Year Question Paper 2017
- There is a ‘cool off time’ of 15 minutes in addition to the writing time of 2 hrs.
- You are not allowed to write your answers nor to discuss anything with others during the ‘cool off time’.
- Use the ‘cool off time’ to get familiar with the questions and to plan your answers.
- Read questions carefully before you answering.
- All questions are compulsory and the only internal choice is allowed.
- When you select a question, all the sub-questions must be answered from the same question itself.
- Calculations, figures, and graphs should be shown in the answer sheet itself.
- Malayalam version of the questions is also provided.
- Give provided wherever necessary.
- Electronic devices except non-programmable calculators are not allowed in the Examination Hall.
Which one of the following is NOT related to the general objectives of the business?
b. Physical and financial resources
The business operations in a Joint Hindu Family business is controlled by ……………….
c. co – parceners
The government decided to sell the shares in the telecom department to the private sector. This is an example of ………………
b. memorandum of undertaking
……………….. are licensed by the government to accept imported goods prior to payment of tax and customs duty.
a. Cooperative warehouse
b. Private warehouse
c. Bonded warehoused
d. Government warehouse
Transportation removes the hindrance of ……………….. in trading activities.
Mrs. Usha purchased a smartphone from LG company through the internet is a ……………….. activity.
One of the following is against business ethics. Find it.
a. Charging a fair price for the product
b. Giving wages to employees if by not considering their workload
c. Using correct measurement for products
d. Giving chances to hear the problems of employees
If a Public Limited Company is NOT preparing the Article of Association, it can adopt ………………….
a. Table A
b. Table B
c. Table C
d. Table D
………………….. document shows the relationship of the company with outsiders.
a. Articles of Association
b. Memorandum of Association
d. Certificate of Incorporation
………………. is the link between wholesaler and customer.
d. None of these
A receipt issued by the commanding officer of a ship when the cargo is loaded on the ship is known as ………………
a. shipping receipt
b. mates receipt
c. cargo receipt
d. charter receipt
Manufacturing and selling goods beyond the boundaries of one’s own country are called ………………
a. national business
b. international business
c. domestic business
d. none of these
Identify the form of business organization related to the following statements.
a. An artificial person created by law.
b. Association of persons with the motive of the welfare of members.
Write a short note on partnership deed.
What do you mean by Export Promotion Zones (EPZ)?
Correct the table given below, if there is a mistake.
Explain how the business units make land pollution.
“People work for others and get remuneration”.
a. Identify the economic activity involved in the above statement.
b. Write any two features of that economic activity.
AM Associates in India and C-Link Associates in Japan, two computer assembling firms, joined together and formed AMC Associates to do the same business.
a. Name the mode of international business mentioned above.
b. State any two advantages of such business.
Explain the causes of business risks.
Give a brief note about the social responsibility of business.
Write any three limitations of mail-order business.
a ………………. are also known as rural industries or traditional industries.
b. Write any three features of these industries.
Explain any four characteristics of a Government company.
‘Match column A with column B.
|(a) Payment at the time of delivery||(i) Non-core activities|
|(b) Plastic money||(ii) Cash on delivery|
|(c) Exists in the cyberspace||(iii) Credit/Debit card|
|(d) Outsourcing||(iv) Digital cash|
Ram and Rahim decided to start a mobile shop at Aluva.
a. Which form of business organization is suitable to them?
b. Explain different types of such organization.
The two main documents required for the formation of a company are Memorandum’of Association and Articles of Association. What are the differences between them?
Explain the features of departmental stores.
This service helps to reduce the impact of loss likely to be caused by uncertain events in a busi¬ness.
a. Identify the name of the service.
b. Explain the principles related to such services.
a. Explain the different types of banks.
b. Explain the functions of commercial banks.
Explain the factors affecting the choice of business finance.
What is meant by public deposits? Explain its merits and limitations as a source of finance.
c. Bonded warehouse
b. Giving wages to employees by not considering their workload
a. Table A
b. Memorandum of Association
b. Mates Receipt
b. International business
a. Joint stock company b. cooperative society
The written agreement which specifies the terms and conditions that governs the partnership is called a partnership deed.
Industrial estate, which forms enclaves from domestic tariff areas. Provide an internationally com petite ve duty-free environment for export production at low cost
17. Land pollution
Dumping of toxic waste on land causes land pollution. This damages the quality of land making it unfit for agriculture or plantation. Restoring the quality of the land that has already been damaged is a big problem.
- There must exist an employer-employee relationship.
- Employees get a salary or wages for their services
- Regularity in service
a. Joint ventures
b. It helps to execute large projects requiring huge capital outlays and manpower. The foreign business firms benefit from local partners knowledge of the host countries.
Causes of Business Risks
- Natural Causes:
it includes natural calamities like earthquake, flood, lightning, heavy rains, famine etc.
- Human Causes:
It includes dishonesty, earless lessor negligence of employees, stoppage of work due to power failure, riots, management inefficiency etc.
- Economic Causes:
It includes changes in demand, change in price, competition, technological changes etc.
- Other causes:
it includes political disturbances, fluctuation in exchange rates, the change in govt, policies etc.
Social responsibility of business refers to its obligation to take those decisions and perform those actions which are desirable in terms of objectives and values of our society. Obligations to take those decisions and perform those actions which are desirable in terms of the objectives and values of the society. Respect the aspirations of the society and try best to contribute to the achievement of these aspirations. Voluntary action from the part of business units for the benefit of society. (Consider any meaningful explanation of the social responsibility of business)
- Lack of personal contact
- High promotion cost.
- No after sale service
- No credit facility
- High dependence of postal service
a. Cottage industries/village industries
b. Organized by individuals with Pvt resources, use family labor and locally available talent, small capital unit, equipment used is simple, produce simple products.
- A government company can be established by fulfilling the requirements of the Indian companies act.
- It has a separate legal entity, apart from the government.
- It enjoys autonomy in decision making.
- These companies are able to control the market.
|(a) Payment at the time of delivery||(ii) Cash on delivery|
|(b) Plastic money||(iii) Credit/Debit card|
|(c) Exists in the cyberspace||(iv) Digital cash|
|(d) Outsourcing||(i) Non-core activities|
b. Types of partnerships
I. Classification on the basis of duration
- Partnership at will This type of partnership continue as long as the partners want a¬nd is terminated when any partners give notice of withdrawal from partnership to the firm
- The particular partnership which is formed for the accomplishment of a particular project to be carried on over a specified period of time is called a particular partnership.
II. Classification on the basis of liability
- General partnership In general partnership liability of partners is unlimited and joint Registrationoffirm is optional. Existe nee of a firm is affected by the death, insolvency or retirement of the partners.
- Limited partnership In a limited partnership, the liability of at least one partner is unlimited whereas the rest may have limited liability. Registration of such a firm is compulsory. The existence of such a firm is not affected by the death, insolvency or retirement of the limited partners.
|Memorandum of Association||Articles of association|
|Defines the objectives of a company||Defines rules of internal management|
|Main document of the company||Subsidiary document|
|Defines relationship of the company with outsiders||Defines relationship with members|
|Every company has to file||Not compulsory to a public limited company|
|A company cannot act beyond the provision of the memorandum||Acts beyond articles can be satisfied by members|
|alteration is difficult||can be altered by special resolution|
a. Provide all facilities such as restaurant, telephone booth etc
b. Located at a central place
c. started at large scale basis as the joint stock company
d. Combinesthefunctionsofretaining and warehousing
e. centralized purchasing and decentralized selling.
b. Insurance is an agreement between two parties whereby one party undertakes, in exchange for a consideration, to pay the other party an agreed sum of money to compensate the loss, damage or injury caused as a result of some unforeseen events.
- The agreement put in writing and is known as a policy.
- The person whose risk is insured is called insured.
- The firm which insurances the risk of loss is called insurer.
Fundamental principle of insurance
The basic principle of insurance is that an individual or business concern chooses to spend a definitely huge amount involved in an indefinite future.
a. Types of banks
1. Commercial banks
Commercial banks are institution dealing in money, ie, accepting deposits and grant loans and advances to their customers, two types of commercial banks
- Public sector banks Those banks which are owned and managed by the government.
- Private sector banks Those banks which are owned and managed by the private parties.
2. Co-operative banks
Cooperative banks are governed by the provisions of State Cooperative Societies Act on the principles of self-help and mutual help, self-help, and mutual help.
3. Specialized bank
Specialized banks are foreign exchange banks, industrial banks, development banks, export-import banks catering to specific needs of these unique activities.
4. Central bank
The central bank of any country supervises, controls and regulates the activities of all the commercial banks of that country.
b. Functions of commercial banks
1. Acceptance of deposits
The commercial bank accepts depo¬sits from the people. The different types of deposits are a current account, savings account and fixed deposits.
2. Lending of funds
The second major activity of commercial banks is to provide loans and advances out of the money received through deposits. These advances can be made in the form of overdrafts, cash credits, discounting trade bill etc.
3. Cheque facilty
It is the very important service which is provided the customers by this one can any time collect theircheques and drawn on other banks. There are two type of cheques mainly
- bear er cheque and
- crossed cheque.
4. Remittance of funds
Another function of a commercial bank is providing the facility of fund transfer from one place to another, on account of the interconnectivity of branches.
5. Allied services
Besides these, a bank also provides allied services such as bill payments, locker facility, underwriting services, buying and selling of shares and debentures on instruction etc.
Cost The cost of procurement of funds & cost of utilising the funds should be taken into account while deciding about the source of funds that will be used by an organization.
- Financial strength & stability of operation
In the choice of source of funds, business should be in a sound financial position so as to able to repay the principal amount and interest on the borrowed amount. When the earing of the organisation are not stable, It can issue equality shares to collect the fund.
- Form of organization & legal status
The form of business organisation and status influence the choice of a source for raising money.
- Purpose & time period
Business should plan according to the time period for which the funds are required. A short-term need can be net through borrowing funds at low rate of interest through trade credit, commercial paper etc. For long-term finance sources such as issue of shares and de- bentares are more appropriate
Business should evaluate each of the source of finance in terms of the risk involved.
Business firm should choose a source keeping in mind the extent to which they are willing to share their control over business
Another aspect affecting the choice of a source of finance is the flexibility ease of obtaining funds
Public deposit, the deposit\data raised by the organisation directly from the public are known public deposits rates of interest offered on public deposits are usually higher than those allowed by a commercial bank.
- It may cause dissatisfaction amongst the shareholders as they would get a lower dividend.
- It is an uncertain source of funds as the profits of a business are flue tuating.
- It may attract government regulation.