CONSUMER PROTECTION — Commercial Studies STD 10 — Question

What are the advantages and disadvantages of the borrowings from commercial banks?

What is meant by insurance? Explain the fundamental principles of insurance.

List any four features of NEFT

From the following trial balance and other additional information obtained from the books of Mr. Sunil Gavaskar, prepare his trading account and the profit and loss account for the half-year ended 30th September, 2023 and his balance sheet as on that date:

	Debit (₹)	Credit (₹)
Capital Account		1,55,000
Drawings Account	9,000
Trade Expenses	12,000
Cash in Hand	750
Cash at Bank	22,700
Freehold Premises	1,30,000
Stock as on (1/4/2023)	35,000
Purchases and Sales	75,000	2,50,000
Returns	2,800	2,000
Carriage Inward	1,500
Carriage Outward	3,500
Sundry Debtors and Sundry Creditors	48,000	25,000
Bills Receivable and Bills Payable	22,000	10,500
Furniture and Fixtures	15,400
Bad Debts	1,500
Wages	25,000
Salaries	19,850
Advertisement	15,000
Rent, Rates and Taxes	3,500
	4,42,500	4,42,500

(1) Stock was valued at ₹40,000 on 30.9.2023.

State three precautions that must be taken while using credit or debit cards.

Mr. Francis is the Human Resource Manager of a private limited company. He has observed that the employee's performance level has declined. As a result efficiency is low and has affected the organisational objectives. He is of the opinion that employees should be provided some training to enhance then performance (a) suggest on-the-job training by explaining its major techniques that could increase the level of productivity. (b) suggest any two evaluation systems that may be used to judge the performance of employers after training.

Mr. Shah took a Health insurance policy for 2 lakhs without disclosing proper facts. After three years he was admitted in hospital due to acute tuberculosis. During investigation it was found that he had been a chain smoker for the past five years.
1. Will he able to claim health insurance why?
2. Identify the Principle of insurance.

The following is the Trial Balance of Mr. Gupta for the year ended 31st December, 2022. Compile the final accounts for him, after incorporating the adjustments given

	Debit (₹)	Credit (₹)
10% Loan on Mortgage of Premises		34,000
Machinery	50,000
Debtors and Creditors	24,000	21,400
Loose Tools	5,000
Premises (owner built and mortgaged)	75,000
Capital Invested and Cash Drawn	4,000	1,00,000
Stock (1/1/2022)	18,000
Sales Against Cash		48,000
Sales Against Credit		72,000
Salaries	10,000
Wages	4,000
Carriage Outward	2,000
Bad Debts Written off	500
Royalty (Direct Expenses)	3,000
Cash and Bank Balances	6,000
Rent Paid	5,000
Commissions	400	500
Purchases (Cash and Credit) and Returns)	66,000	6,000
Rates and Taxes	3,000
Miscellaneous Expenses	6,000
	2,81,900	2,81,900

Closing stock is valued at ₹50,000

Advertising is a social waste. Explain.

"Principle of contribution is a corollary to the principle of indemnity." Comment.