AHSEC| CLASS 12| BUSINESS STUDIES| SOLVED PAPER - 2019| H.S. 2ND YEAR
2019
Business Studies
Full Marks: 100
Time: 3 hours
The figures in the margin indicate full marks for the questions
1. (a) Who is known as the father scientific management? 1
Ans:- Frederick W. Taylor.
(b) In which year Indian economy was opened up? 1
Ans:- 1991.
(c) Budget is a quantitative expression. (Write True or False) 1
Ans:- True.
(d) Name the organisation which regulates the working of banks in India. 1
Ans:- RBI. (Reserve Bank of India).
(e) Name one method of on the job training. 1
Ans:- Job rotation.
(f) Give the full form of SEBI. 1
Ans:- The Securities and Exchange Board of India. (SEBI).
(g) Name one feature of a good control system. 1
Ans:- Clear-cut objectives.
(h) Name one external source of recruitment. 1
Ans:- Advertisement in Newspapers.
2. What is ratio analysis? 2
Ans:- Ratio analysis is a quantitative method of gaining insight into a company's liquidity, operating efficiency, and profitability by studying its financial statements such as its balance sheet and income statement. Ratio analysis is the cornerstone of fundamental equity analysis.
3. State two objectives of NSE. 2
Ans:- The main objectives of NSE are:-
(i) To establish nationwide trading facilities for all types of securities.
(ii) To ensure equal access to investors across the country.
4. Write difference between advertising and personal selling. 2
Ans:- The difference between advertising and personal selling lies in their approach and engagement. Advertising, through various media channels, reaches a wide audience, creating awareness and generating interest. On the other hand, personal selling establishes direct contact between a salesperson and a potential customer, allowing personalized solutions and tailored communication. While advertising casts a wide net, personal selling weaves one-on-one connections, meeting individual needs and building relationships.
5. Give two differences between capital market and money market. 2
Ans:- Two differences between capital market and money market:-
(i) A random course of financial institutions, bill brokers, money dealers, banks etc. in which transactions on short-term financial instruments are being settled is called money market. A type of financial market where company or government securities are originated and maintained with the intention of setting up long-term finance with the required capital is called capital market.
(ii) Money markets are informal in nature. Capital markets are formal in nature.
6. Explain two rights given to consumers under the Consumer Protection Act, 1986. 2
Ans:- Under the Consumer Protection Act, 1986, consumers have been given two rights:-
Consumer Rights:-
(i) Right to Safety: The consumer can insist on the quality and guarantee of the goods before purchasing. They should ideally buy certified products like ISI or Agmark.
(ii) Right to choose: The consumer should have the right to choose from a variety of goods at a competitive price.
7. Explain the concept of Taylor’s Differential Piece Rate System. 3
Ans:- Taylor's differential piece-rate system F.W. Taylor, who believed that workers should be paid based on their degree of efficiency. Under this method, with the help of time and motion study, the standard time for completion of a work is determined on the basis of which the performance of the workers is evaluated. Taylor's differential piece-rate system assumes that the worker who takes more time. Higher rates will have to be paid for standard production in stipulated time. On the other hand, if the worker fails to reach the level of production within the standard time he is paid a lower rate. Thus, there are two piece rates, one who reaches or exceeds the standard output is paid 120 percent of the piece rate. Whereas one who fails to reach the standard level of production is paid 80 percent of the piece-rate. Minimum wages of workers are not guaranteed.
8. (a) Define Organisation as a group activity. 3
Ans:- The process of establishing relationships for the purpose of identifying and grouping tasks to be performed, defining and delegating responsibility and authority, and evaluating people to work together more effectively in accomplishing their objectives.
Thus we can say that “Organization is a group of people cooperating under the direction of leadership to achieve a common goal”.
Or
(b) Discuss the types of Organisation structure. 3
Ans:- Types of organization structure are:-
(i) Functional Structure: A functional structure groups employees into different departments on the basis of work specialization. Each department has a designated leader who is highly experienced in the job functions of each employee they supervise.
(ii) Divisional Structure: A divisional structure organizes employees around a common product or geographical location. Divisional organizations have teams focused on a specific market or product line.
(iii) Matrix structure: Within the matrix organizational structure, team members report simultaneously to multiple managers.
Having multiple supervisors allows company-wide interaction and faster project delivery. For example, when answering to functional managers and project managers, employees get the chance to gather experience outside their own team.
9. (a) Discuss the objectives of financial planning. 3
Ans:- The objectives of financial planning are:-
There are several objectives of financial planning:-
(i) Determining capital requirements: This will depend on factors such as cost of current and fixed assets, promotional expenditure and long range planning. Capital requirements should be viewed from both aspects: short-term and long-term requirements.
(ii) Determining capital structure: Capital structure is the composition of capital, i.e., the relative type and proportion of capital required in the business. It involves decisions related to debt-equity ratio – both short-term and long-term.
(iii) Making financial policies regarding cash control, credit, borrowing etc.
Or
(b) Define current assets. Give two examples of current assets. 2+ ½ + ½=3
Ans:- A current asset, also called a current account, is either cash or a resource that is expected to be converted into cash within one year.
These resources are often known as liquid assets because they are easily converted into cash in a short period of time. Take inventory for example. Inventory can be easily sold for cash over the next 12 months. Compare this to a device that is much more difficult to sell. Additionally, inventory is expected to be sold in the normal course of business for retailers. Tools, on the other hand, are not.
This concept is extremely important for management in the daily operations of a business. As monthly bills and debts come due, management must convert sufficient existing resources into cash to pay its obligations.
(i) Cash: Cash is all the coins and currency held by a company. This includes all money held in the company's bank accounts, cash registers, petty cash dispensers and any other depositories. It may involve domestic or foreign currencies, but does not involve investments.
(ii) Cash equivalents: Cash equivalents are investments that are very closely linked to cash and are so easily converted into cash that they may as well be currency. An example of a counterpart is the US Treasury bill. T-bills can be exchanged for cash at any time, with no risk of losing their value.
10. (a) Who can file a complaint before a consumer court? 3
Ans:- Consumer courts and consumer forums have been established under the Consumer Protection Act for redressal of consumer complaints. Following are the ways in which consumers can file a complaint in the court.
(i) Any consumer
(ii) any registered consumer association or organization
(iii) Central and State Government
(iv) A consumer or a group of consumers on behalf of several consumers having the same interest.
(v) Legal heir or representative of the deceased consumer.
Or
(b) Briefly discuss three important features of entrepreneurship. 3
Ans:- Features of Entrepreneurship:-
Not all entrepreneurs are successful; There are certain characteristics that make entrepreneurship successful. Some of them are mentioned below:-
(i) Risk taking ability: Starting any new venture involves considerable risk of failure. Therefore, an entrepreneur needs to be courageous and able to evaluate and take risks, which is an essential part of being an entrepreneur.
(ii) Innovation: Generating new ideas, starting a company and earning profits from it must be highly innovative. The change may be the launch of a new product that is new to the market or a process that performs the same function but in a more efficient and economical manner.
(iii) Visionary and leadership quality: To be successful, the entrepreneur must have a clear vision about his new venture. However, turning this idea into reality requires a lot of resources and staff. Here, the quality of leadership is paramount as leaders lead their employees and lead them on the right path to success.
11. (a) Explain any three factors affecting pricing of a product. 3
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