Commercial Studies Official Board 2024-2025 (English Medium) ICSE Class 10 Question Paper Solution

Which of the following is an example of Off-the-Job Training?

Job rotation

Mentoring

Apprenticeship

Classroom training

Rishav prepared a detailed plan of operations for a specific future period. Identify the process.

Forecasting

Marketing

Budgeting

Selecting

Sharma and Company is planning to spend 5,00,000 on advertising. Under which type of expense can it be classified?

Capital expenditure

Revenue expenditure

Capital receipts

Deferred Revenue expenditure

Observe the picture and identify the type of Consumer Exploitation.

Overcharging

Under weighing

Adulteration

Fair pricing

Assertion (A): Preference shares are a hybrid form of financing.

Reason (R): Preference shares have characteristics of both equity shares and debentures.

Both (A) and (R) are true and (R) is the correct explanation of (A).

Both (A) and (R) are true but (R) is not the correct explanation of (A).

(A) is true and (R) is false.

Both (A) and (R) are false.

Which of the following is NOT true with reference to the Reserve Bank of India?

It is the sole custodian of foreign exchange reserves.

It extends loans to the general public.

It makes and receives payment on behalf ofthe government.

It has the monopoly of issuing currency notes.

Which type of selection test helps to measure an applicant's level of knowledge and skill in a particular occupation?

Aptitude test

Interest test

Trade test

Dexterity test

Which of the following are true for a Trading Account?

1. This account contains personal and real accounts only.
2. This account contains opening balance of stock on the debit side.
3. It is prepared after the Profit and Loss Account.
4. The result of this account is the Gross Profit or the Gross Loss.

I and II are true.

II and III are true.

III and IV are true.

II and IV are true.

Marketing aims to build the reputation ofthe enterprise over time.

True

False

Expenses incurred by the firm to purchase a second-hand machine and make it ready for use, are treated as ______.

Capital Expenditure

Revenue Expenditure

Capital Receipts

Revenue Receipts

Assertion (A): The Central Bank is the sole custodian of foreign currency reserves.

Reason (R): The Central Bank has the monopoly of note issue.

Both (A) and (R) are true and (R) is the correct explanation of (A).

Both (A) and (R) are true but (R) is not the correct explanation of (А).

(A) is true and (R) is false.

Both (A) and (R) are false.

Mohit goes to the bank with a credit instrument which is due three months later. The bank charges some commission and pays less than the face value of the instrument.

Identify the kind of loan granted by the commercial bank.

Term loan

Cash credit

Discounting of bills of exchange

Overdraft

Which of the following Acts established the Central Pollution Control Board at the national level?

Consumer Protection Act, 2019

Environment Protection Act, 1986

Companies Act, 1956

Banking Regulations Act, 1949

Observe the picture and identify what type of Insurance can be claimed.

Health

Fire

Life

Marine

A social security scheme has the following characteristics:

1. Any citizen of India, resident or non-resident, can become a member.
2. It has a Tier I account which is mandatory and Tier II which is optional.

Identify the scheme.

Provident Fund

Gratuity

National Pension Scheme

Maternity benefits

The accountant of Gupta & Co. Ltd. has to pass an entry for Carriage Inwards. Where would he post the entry?

Debit side of Profit and Loss Account

Debit side of Trading Account

Credit side of Trading Account

Liabilities side of Balance Sheet

Write differences between:

Capital Expenditure and Revenue Expenditure

Distinguish between a Trading Account and a Profit and Loss Account.

Distinguish between a product and a service.

Distinguish between direct costs and indirect costs.

Mohan intentionally burns the old stock of damaged clothes in his warehouse. Then, he claims the insurance.

1. Which type of insurance would he claim?
2. Give one reason to state why the claim will not be settled.

What is selection?

State and explain an application blank.

Write in brief about a Sales Budget.

Briefly explain the Principle of Indemnity.

Who are Internal Stakeholders?

Give two examples of Internal Stakeholders.

Identify the last step of the Final accounts, which is prepared after Profit and Loss Account. Explain in brief.

Write in brief about E-tailing.

‘Pricing is not an end by itself but a means to achieve marketing objectives of the firm.’

Discuss any five objectives of Pricing.

Write short note on Equity shares.

Write short notes on:

Mitigation of Loss as a Principle of Insurance.

‘Trade Unions provide workers with collective bargaining power, enabling them to negotiate for better benefits.’ 

Explain any five functions of a Trade Union.

Briefly explain:

Inventory Module of ERP

Explain the following:

ATM

Discuss the merits of air transport.

Discuss the demerits of air transport.

Mr. Roy invented a product which uses less harmful chemicals. He paid Sen & Co. ₹ 5,00,000/- to promote the product. Sen & Co. used the product for their own gain without promoting it.

1. What fraudulent practice was committed?
2. What action can Mr. Roy take?

Explain the following term/concept:

Bonded Warehouses

Give any two features of Consumer Protection Act.

Briefly explain:

Right to Choose/Right to be Assured

Briefly explain:

Industrial Relations

Discuss the advantages of budgets.

This group of people offer raw materials, finished products or various services to a business organisation.

1. Identify this group of stakeholders.
2. Give four expectations they may have from the business organisation.

The following Trial Balance was extracted from the books of Mr. Joseph as on 31^st March, 2024. You are required to prepare the Trading Account and the Profit and Loss Account for the year ended 31^st March, 2024. Also, prepare a Balance Sheet as on 31^st March, 2024.

Closing Stock was valued at 20,000 on 31^st March, 2024.