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Commerce Set 1 2017-2018 ISC (Arts) Class 12 Question Paper Solution

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Commerce [Set 1]
Marks: 80Academic Year: 2017-2018
Date: March 2018
  • Answer Question 1 (Compulsory) from Part I and five questions from Part II, choosing two questions from Section A, two questions from Section B and one question from either Section A or Section B.

PART I
[20]1 | Answer briefly each of the questions (i) to (x).
[2]1.i

Answer the question briefly.
Name the two dimensions of the business environment.

Concept: Dimensions of Business Environment - Micro
Chapter: [1] Business Environment
[2]1.ii

Answer the question briefly.
What is meant by factoring?

Concept: Short-term Sources of Funds - Factoring
Chapter: [2.02] Sources of Finance for a Joint Stock Company
[2]1.iii

Answer the question briefly.
What is a debit card?

Concept: Debit Cards Vs Credit Cards, ATM (Automated Teller Machine)
Chapter: [2.03] Banking - Latest Trends
[2]1.iv

Answer the question briefly.
Why is management considered to be discipline?

Concept: Concept of Management
Chapter: [3.01] Management
[2]1.v

Answer the question briefly.
Explain any two sources of external recruitment used in today’s world.

Concept: Staffing - Recruitment Process
Chapter: [3.05] Functions of Management
[2]1.vi

Answer the question briefly.
Name the four elements of directing, as a function of management.

Concept: Concept of Directing
Chapter: [3.05] Functions of Management
[2]1.vii

Answer the question briefly.
Distinguish between advertisement and publicity.

Concept: Elements of Marketing Mix
Chapter: [4.02] Marketing Mix
[2]1.viii

Answer the question.
Mention two types of markets, on the basis of the position of buyers and sellers.

Concept: Concept of Marketing
Chapter: [4.01] Marketing: Concept and Functions
[2]1.ix

Answer the question briefly.
The producer of Lime Fresh’ tea introduces ‘Buy one Get one’ scheme on all the products of ‘Lime Fresh’. Identify the promotional strategy’ used by the producer. State any one objective that could be met by this strategy.

Concept: Concept of Promotion (Marketing)
Chapter: [4.02] Marketing Mix
[2]1.x

Answer the question.
Expand the following terms :
(a) RTGS
(b) NEFT

Concept: Long-term Sources of Funds
Chapter: [2.02] Sources of Finance for a Joint Stock Company
Part - II
[12]2 |  Answer any five questions
[3]2.i

Answer the question.
Explain any three barriers to communication. 

Concept: Barriers to Effective Communication
Chapter: [3.05] Functions of Management
[4]2.ii

Answer the question.
Explain any four features of the Business Environment.

Concept: Concept of Business Environment
Chapter: [1] Business Environment
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[5]2.iii

Answer the question.
Discuss the need for the principles of management.

Concept: Concept of Principles of Management
Chapter: [3.04] Principles of Management
[12]3
[3]3.i

Answer the question.
Discuss three advantages of plowing hack of profit, from the company’s point of view.

Concept: Retained Earnings
Chapter: [2.02] Sources of Finance for a Joint Stock Company
[4]3.ii

Answer the question.
Explain why management is considered to be a science.

Concept: Management as Science, Art and Profession
Chapter: [3.02] Nature of Management – Science, Art and Profession
[5]3.iii

Answer the question.
What is labelling? Explain the four advantages of labelling.

Concept: Elements of Promotion Mix
Chapter: [4.02] Marketing Mix
[12]4
[3]4.i

Answer the question.
Give three points of difference between a product and a service. 

Concept: Elements of Promotion Mix
Chapter: [4.02] Marketing Mix
[4]4.ii

Answer the question.
What are the different types of short term financial assistance provided by the commercial banks to business houses?

Concept: Different Types of Short Term Financial Assistance by Commercial Banks
Chapter: [2.02] Sources of Finance for a Joint Stock Company
[5]4.iii

Answer the question.
Explain any five types of debentures through which a company can collect borrowed capital from the public.

Concept: Meaning and Concept of Debentures
Chapter: [2.02] Sources of Finance for a Joint Stock Company
[12]5
[3]5.i

Answer the question.
Explain the need for consumer protection.

Concept: Concept of Consumer Protection
Chapter: [4.03] Consumer Protection
[4]5.ii

Answer the question.
‘Planning is not a guarantee of success.’ In this context, explain the limitations of Planning. 

Concept: Limitation of Planning
Chapter: [3.05] Functions of Management
[5]5.iii

Answer the question.
Explain the following principles of management, as advocated by Henry Fayol:
(i) Stability of tenure
(ii) Discipline
(iii) Unity of command
(iv) Unit}’of Direction
(v) Order

Concept: Fayol’s Principles of Management
Chapter: [3.04] Principles of Management
[12]6
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[3]6.i

Answer the question.
Explain any three types of training that can be given to an employee.

Concept: Types of Training
Chapter: [3.05] Functions of Management
[4]6.ii

Answer the question.
What is Branding ? Give any three advantages of branding to the marketers.

Concept: Marketing Mix - Product Mix
Chapter: [4.02] Marketing Mix
[5]6.iii

Answer the question.
Explain the various steps involved in the process of organizing.

Concept: Concept of Organising
Chapter: [3.05] Functions of Management
[12]7
[3]7.i

Answer the question.
Explain any three disadvantages of borrowing funds from specialized financial institutions.

Concept: Loans from Commercial Banks and Financial Institutions
Chapter: [2.02] Sources of Finance for a Joint Stock Company
[4]7.ii

Answer the question.
Briefly explain any four types of working capital required by a business concern.

Concept: Concept of Fixed and Working Capital
Chapter: [2.01] Capital
[5]7.iii

Answer the question.
Explain Maslow’s theory.

Concept: Maslow’s Hierarchy of Needs
Chapter: [3.05] Functions of Management
[12]8
[3]8.i

Answer the question.
Discuss the features of good packaging.

Concept: Elements of Promotion Mix
Chapter: [4.02] Marketing Mix
[4]8.ii

Answer the question.
Explain the advantages of equity shares, as a source of finance. 

Concept: Types of Shares - Preference Shares Equity Shares
Chapter: [2.02] Sources of Finance for a Joint Stock Company
[5]8.iii

Answer the question. 
Discuss any five functions of marketing. 

Concept: Marketing Functions
Chapter: [4.01] Marketing: Concept and Functions
[12]9
[4]9.i | Write short notes on the following :

Answer the question.
Meaning and Elements of Product Mix.

Concept: Elements of Promotion Mix
Chapter: [4.02] Marketing Mix
[4]9.ii

Answer the question.
Core banking solutions.

Concept: Online Payments, E-banking
Chapter: [2.03] Banking - Latest Trends
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[4]9.iii

Answer the question.
Coordination, as the essence of management.

Concept: Coordination as an Essence of Management
Chapter: [3.05] Functions of Management
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