Model Paper 4 — Business Studies STD 11 Commerce — Question

Reema bought a new house recently and plans to shift in the near future. Therefore, she is selling off her old kitchen appliances at OLX and has also made some profit in the process.
In the context of the above case:
i. Will this transaction be constituted as a business activity? Why or why not?
ii. Mention the underlying characteristic of the business.

What are the important features of public sector enterprises?

HUF business suffers from the disadvantage of centralisation of power. Do you agree? Give reasons in support of your answer.

Why is it said that sole proprietor is a sole risk bearer and profit recipient?

Sanjay Bhattacharya kept his goods valued at ₹80,000 in a warehouse and had taken a fire insurance policy for the same. On the 25th of Feb., 2017, his stock caught fire. He however was not worried about the same and as he had insured his goods against the risk of fire, he did not even call the fire department for a fire fighting machines. The actual losses amounted to ₹65,000.

How much money can he claim from the insurance company? State the relevant insurance principle in this regard.

Aprajita Kumar has around ₹ 20,00,000 balance in her savings bank account. She earns well and is not a big spender, so she routinely ends up with surplus money at the end of the month. She is aware that she should invest the money, but is unable to make up her mind on where to invest it. Expectedly, she is very confused because of the various options before her. Her close friend Shika Sharma a banking official advised her to maintain an account which is a combination of transactional (debit) account and deposit account. She told Aprajita that this is a time deposits wherein the rate of interest is better and at the time of need for funds, withdrawals can be made from the deposits by issuing a cheque from savings bank account or from ATM/branch or through any other channel. The sum of available balance in the transactional account and deposit balance can be used for issuing cheques or withdrawal or making any other payment. Finally, Aprajita Kumar is able to make up her mind to shift to the account advised by Shika Sharma. Identify and explain the type of banking account advised by Shika Sharma to Aprajita Kumar.

Manas lived in a small village of Sikkim, where there were no formal education facilities. Therefore he came to Kolkata at his uncle's house, to complete his senior secondary school. After getting senior secondary school certificate, he decided to set up a small retail shop in the city. His uncle was very supportive and allowed Manas to use his vacant shop in a commercial area.
State any three types of shops that he can set up.

Categorise the following into business, profession and employment:

1. A doctor.
2. A clerk.
3. A lawyer.
4. A merchant.
5. A rigger working in a shop and repairing scooters.

Shivangi is fond of buying goods online. She bought a dress online from a Swedish company after reading good reviews about the dress on customer portal. But when she received the dress, it is not the same as shown in the picture. She called on the customer care number to discuss her problem.
On the basis of the given information about Shivangi, answer the following questions:
Explain the types of e-Business transactions mentioned here quoting lines from the case.

What is the definition used by Government of India for Small Scale Industries?