Commerce (English Medium) कक्षा १२ - CBSE Important Questions

NK Ltd., a truck manufacturing company, is registered with an authorised capital of Rs 1,00,00,000 divided into equity shares of Rs 100 each. The subscribed and paid up capital of the company is Rs 50,00,000. The company decided to open technical schools in the Jhalawar district of Rajasthan to train the specially-abled children of the area. It is planning to provide them employment in its various production units and industries in the neighbourhood area.

To meet the capital expenditure requirements of the project, the company offered 20,000 shares to the public for subscription. The shares were fully subscribed and paid.
Present the share capital in the Balance Sheet of the company as per the provisions of Schedule III of the Companies Act, 2013. Also, identify any two values that the company wants to communicate.

Complete the following journal entries left blank in the books of VK Ltd.:

Prepare a common size Balance Sheet of KJ Ltd. from the following information:

From the following information obtained from the books of Kundan Ltd., calculate the inventory turnover ratio for the years 2015-16 and 2016-17 :

(Gross profit is 25% on the cost of revenue from operations)

In the year 2015-16, inventory increased by Rs 2,00,000.

JW Ltd. was a company manufacturing geysers. As a part of its long-term goal for an expansion, the company decided to identify the opportunity in rural areas. The initial plan was rolled out for Bhiwani village in Haryana. Since the village did not have a regular supply of electricity, the company decided to manufacture solar geysers. The core team consisting of the Regional Manager, Accountant and the Marketing Manager was taken from the Head Office and the remaining employees were selected from the village and neighbourhood areas. At the time of preparation of financial statements, the accountant of the company fell sick and the company debuted a junior accountant temporarily from the village for two months. The Balance Sheet prepared by the junior accountant showed the following items against the Major Heads and Sub-heads mentioned which were not as per Schedule III of the Companies Act, 2013.

Identify any two values that the company wants to communicate to the society. Also, present the above items under the correct major heads and sub-heads as per Schedule III of the Companies Act, 2013.

Metlapp Networks and Technologies Ltd. is a leader in technology innovation in the United States, creating products and solutions for connecting the world. It has a large research and evelopment team which invented the first smartwatch, named as W-7. The watch besides showing the time also monitors few health parameters like a heartbeat, blood pressure etc.

While in search of markets abroad, the company found that in India, the reform process was underway with the aim of accelerating the pace of economic growth. The company decided to take advantage of simplified export procedure and removal of quantitative as well as tariff restrictions in India.

It set up its office in Jamnagar with a view to capturing the Indian market. In a short span of time, the company emerged as a market leader. The success of the company attracted many other players to enter the market. The competition resulted in the reduction in prices, thereby benefiting the customers.

1) In the above paragraph, two major concepts related to government policy have been discussed. Identify and explain these concepts.

2) Also, explain briefly any three impacts of these concepts on Indian business and industry.

State any three limitations of planning.

Indian Youth Organisation (IYO) organised a visit of its members to an old age home to inculcate the habit of social work among them. The visit revealed that the living conditions of the inmates of the old age home were not hygienic. So, the IYO members decided to clean the premises. During their cleanliness drive, they realised that the old age home also required pest control. But some of the inmates of old age home were reluctant for it because they believed that the pest control may create health problems for them. IYO therefore decided to provide ethical, safe and odourless pest control. They showed to the inmates of old age home a pamphlet of the proposed pest control product which promised easy, inexpensive and long-lasting pest control. The inmates happily agreed and the pest
control was carried out. It worked for a fortnight but to their dismay, the effect started wearing off. IYO contacted the pest control company which kept on postponing their visit. After waiting for a month, IYO filed a case in the consumer court.

The consumer court was satisfied with the genuineness of the complaint and issued necessary directions to the pest control company

1) State any six directions that might have been issued by the court.

2) Also, identify any two values that are being communicated by IYO to the society.

Aman Chadha started 'Bulls Eye' a company for providing cyber security solutions to businesses. Its objective is to prevent, detect and respond to cyber attacks and protect critical data. He was a hardworking software engineer and an expert in cybersecurity. His reputation grew by leaps and bounds as he was not only a person of integrity but also did his work with utmost honesty and sincerity. The business started growing day by day.

He was delighted when he was offered a big project by the Ministry of Defence. While working on the project, he found that the volume of work made it impractical for him to handle all the work by himself. He decided to expand the team. The company maintained a close liaison with a local engineering college. During a campus placement, Ishan and Vrinda were appointed to work for the new project.

He found the new employees capable. Enthusiastic and trustworthy. Aman Chadha was thus, able to focus on objectives and with the help of Ishan and Vrinda, the project was completed on time. Not only this Aman Chadha was also able to extend his area of operations. On the other hand, Ishan and Vrinda also got opportunities to develop and exercise initiative.

1) Identify and briefly explain the concept used by Aman Chadha in the above case which helped him in focusing on objectives.

2) Also, state any four points of importance of the concept identified in (i) above.

Define externalities. Give an example of negative externality. What is its impact on welfare?

Explain the ‘unit of accounts’ function of money. How has it solved the related problem created by barter?

Read the passage given below :

1. To ensure its perpetuity, the ground is well held by the panther both in space and in time. It enjoys a much wider distribution over the globe than its bigger cousins and procreates sufficiently profusely to ensure its continuity for all time to come.

Read the passage given below:

People tend to amass possessions, sometimes without being aware of doing so. They can have a delightful surprise when they find something useful which they did not know they owned. Those who never have to change house become indiscriminate collectors of what can only be described as clutter. They leave unwanted objects in drawers, cupboards, and attics for years in the belief that they may one day need them. Old people also accumulate belongings for two other reasons, lack of physical and mental energy, and sentiment. Things owned for a long time are full of associations with the past, perhaps with the relatives who are dead, and so they gradually acquire a sentimental value.

Some things are collected deliberately in an attempt to avoid wastage. Among these are string and brown paper, kept by thrifty people when a parcel has been opened. Collecting small items can be mania. A lady cuts out from newspaper sketches of model clothes that she would like to buy if she had money. As she is not rich, the chances are that she will never be able to afford such purchases. It is a harmless habit, but it litters up her desk.

Collecting as a serious hobby is quite different and has many advantages. It provides relaxation for leisure hours, as just looking at one’s treasure is always a joy. One doesn’t have to go out for amusement as the collection is housed at home. Whatever it consists of - stamps, records, first editions of books, china – there is always something to do in connection with it, from finding the right place for the latest addition to verifying facts in reference books. This hobby educates one not only in the chosen subject but also in general matters which have some bearing on it.

There are other benefits also. One gets to meet like-minded collectors to get advice, compare notes, exchange articles, to show off one’s latest find. So one’s circle of friends grows. Soon the hobby leads to traveling, perhaps a meeting in another town, possibly a trip abroad in search of a rare specimen, for collectors are not confined to one country. Over the years one may well become an authority on one’s hobby and will probably be asked to give informal talks to little gatherings and then, if successful, to larger audiences.

(a) On the basis of your understanding of the above passage make notes on it using headings and sub-headings. Use recognizable abbreviations (wherever necessary-minimum four) and a format you consider suitable. Also, supply an appropriate title to it.

(b) Write a summary of the passage in about 80 words.

Distinguish between 'Dissolution of Partnership' and 'Dissolution of Partnership Firm on the basis of 'Economic Relationship'.

Distinguish between 'Dissolution of Partnership' and 'Dissolution of Partnership Firm on the basis of 'Economic Relationship'.

Explain the following technique of scientific management:

Time study

Explain briefly any three semantic barriers to communication.

Write short notes on  Importance of financial planning

Answer the following question:
Explain briefly any two points of importance of consumer protection from the point of view of the business.

Define fixed cost. Give an example.