Business Studies 2016 CBSE Board paper (All India) SET 3
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Q1
Name and state the aspect of financial management that enables to foresee the fund requirements both in terms of “the quantum” and “the timings”.
Marks:1View AnswerAnswer:
An aspect of financial management that enables to foresee the fund requirements is financial planning. It refers to estimation of capital required and deciding the sources of funds. Its objective is to ensure availability of funds and to see that the firm does not raise the funds unnecessarily.
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Q2
Name the function of marketing which is concerned with the cost and location of target market.
Marks:1View AnswerAnswer:
Transportation function of marketing is concerned with the cost and location of target market.
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Q3
Suman bought a box of cheese of a reputed brand from a local shopkeeper. On opening the box she found a piece of stone in the cheese. She reported the matter to the shopkeeper who forwarded her complaint to the concerned company. Within a week the representative of the company visited Suman’s residence with an apology and as a replacement offered her a new cheese pack with four other varieties of cheese as compensation for the inconvenience to her.
State the consumer right which Suman exercised.
Marks:1View AnswerAnswer:
The consumer right that Suman has exercised is ‘Right to seek redressal.’
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Q4
Is management concerned only with doing the right task, completing activities and achieving goals without taking into consideration the cost benefit? Give reason in support of your answer.
Marks:1View AnswerAnswer:
No, in an organisation management is concerned with doing the work with effectively and efficiently. Management is not only concerned with doing the right task, completing activities and achieving goals. It is also concerned with doing the task with efficiency i.e., with minimum possible cost and resources.
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Q5
Rizul Bhattacharya after leaving his job wanted to start a Private Limited Company with his son. His son was keen that the company may start manufacturing of mobile-phones with some unique features. Rizul Bhattacharya fell that the mobile phones are prone to quick obsolescence and a heavy fixed capital investment would be required regularly in this business. Therefore he convinced his son to start a furniture business.
Identify the factor affecting fixed capital requirements which made Rizul Bhattacharya to choose furniture business over mobile phones.
Marks:1View AnswerAnswer:
The factor affecting fixed capital requirements which made Rizul Bhattacharya to choose furniture business over mobile phones is technology upgradaton.
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Q6
Name the type of organisational structure which promotes flexibility and initiative.
Marks:1View AnswerAnswer:
Divisional structure in an organisation promotes flexibility and initiative.
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Q7
Give the meaning of ‘Decentralisation’.
Marks:1View AnswerAnswer:
Decentralisation is the process of redistributing or dispersing functions and powers away from central authority. In the process of decentralisation, authority is delegated to subordinates so that they can take quick decisions regarding urgent assignments.
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Q8
State the role of ‘Gang Boss’ in functional foremanship.
Marks:1View AnswerAnswer:
In functional foremanship, the foreman who is responsible for all preliminary work before the actual operation and assembling tools, equipments and facilities in the plant is called gang boss.
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Q9
Explain any three points of importance of planning.
Marks:3View AnswerAnswer:
i.Planning provides direction: It anticipates future demands and evaluates existing and prospective resources. It makes effective co-ordination between physical and human efforts and channelises them towards the desired goal of the business.
ii. Planning reduces future uncertainties: It is planning which pre-assesses the future uncertainties and also enables the organisation to anticipate & deal with these uncertainties with minimum wastage of resources.
iii. Planning reduces overlapping and wasteful activities: It evaluates the alternative uses of the available and prospective resources of the business and uses them in the most appropriate manner. -
Q10
What is meant by a ‘Consumer’ as per the provisions of ‘Consumer Protection Act, 1986?
Marks:3View AnswerAnswer:
Under Consumer Protection Act, 1986, a consumer is defined to mean:
(a) one who buys goods or hires services for consideration,
(b) any user of such goods with the approval of the buyer and beneficiary of services which is availed of with the approval of one who hires the services, and
(c) anyone who uses goods bought or services hired exclusively for earning livelihood by self-employment.
