Business, Trade and Commmerce — Business Studies STD 11 Commerce — Question

In context to outsourcing, what do you understand by core and non-core activities?

Explain the position of Indian Subcontinent in world economy since ancient times.

What is the meaning of ‘Certificate of Incorporation’?

A company insures its stock against fire for Rs. 15 Lakh. A fire broke down and the total stock was lost. At the time of fire there was stock worth Rs. 25 Lakh. What is the value of compensation company would be entitled to ?

The merchant community derived power and prestige from guilds. Even kings were supposed to accept and respect the rules of these guilds. The guild chief dealt directly with the king or tax collectors and settled the market toll on behalf of its fellow merchants at a fixed sum of money. The guild merchants also acted as custodians of religious interests. They undertook the task of building temples and made donations by levying a corporate tax on their members. The commercial activity enabled big merchants to gain power in the society.

On the basis of the given information about the merchant community, answer the following questions:

(a) "Even kings were supposed to accept and respect the rules of these guilds". Identify the guild being specified in the case.

(b) Enlist the main functions of the guilds whose rules were accepted by even kings.

William R Bassett has rightfully observed, "The one-man control is the best in the world if that man is big enough to manage everything." Do you agree with him? Give reasons for your answer.

Akshay is a shareholder in a company holding 2,000 shares of ₹10 each on which he has already paid ₹7 per share.
What will be his liability in the event of company's failure to pay debts? Give reason in support of your answer.

Business is a part of society. It must conduct ethical activities. In context to this, explain the meaning of business ethics.

What are the core objectives of social responsibility of business?

Describe the reality of social responsibilities of a company.