HOLIDAY HOMEWORK(2023-24)
SUBJECT – BUSINESS STUDIES. CLASS – 11th
• Revise the Chapter 1,2 of business studies
• Solve the below assignment on your fair Notebook.
CHAPTER- 1 Evolution and Fundamentals of Business
A. Multiple Choice Questions(MCQ’S)
Q. 1 “Amrut” is a NGO operated in the district of Rajkot since 2005. It deals in providing
medicines and other medical facilities to the rural, backward and below poverty line
people in the district. In case of need, arrangements are made by the NGO to shift
critical patients to referred hospitals.
Name the type of human activities performed by the NGO “Amrut”.
(A) Economic Activities
(B) Non-Economic Activities
(C) Spiritual Activities
(D) None of the above
Q2 The occupation in which people work for others and get remunerated in return is
known as
(A) Business
(B) Profession
(C) Employment
(D) None of these
Q3. Ruchi is a practicing Chartered Accountant. She has her C.A. Firm at Hyderabad,
Telangana. She deals in providing Income Tax and GST related services to her clients
against very reasonable consultancy fees. She has her own professional coaching
classes for C.A. Enrolled Students.
Identify the types of economic activities performed by Ruchi as referred in the above
case.
(A) Business
(B) Profession
(C) Employment
(D) None of the above
Q4 Dell Inc is a company involved in manufacturing of Computer and related items. It’s a
very popular name among the computer savvy youth in India. There are different
models of Desktop, Laptop, Tabs, Gaming and Workstations manufactured and sold
by the company in the Indian market.
Which type of Industry highlighted in the above case?
(A) Genetic Industry
(B) Extractive Industry
(C) Processing Industry
(D) Assembly Industry
Q5. JPMG is one of the largest transportation industry in India provides services for
different projects including residential, commercial office, retail, industrial, logistics,
hospitality and other areas too. It’s a familiar name among the business houses in the
country because of the large dependency factor.
Which type of Industry discussed in the above case?
(A) Genetic Industry
(B) Tertiary Industry
(C) Processing Industry
(D) Assembly Industry
Q6. Nutan General Store is a big businessman deals in selling Nestle products in his
locality. He purchased products of Nestle directly from the State Distributor in bulk
quantities and sold in the market. Small shopkeepers from different corners of the city.
Identify the type of trade followed by Nutan General Store.
(A) Wholesale Trade
(B) Retail Trade
(C) International Trade
(D) Entrepot Trade
Q7. Surinder is a small-town businessman deals in buying and selling different
fast-movingconsumer goods. The scope of business is limited to his local market. He
purchased different types of goods from the wholesaler each weekend located at the State
Capital.
Identify the type of trade followed by the businessman referred in the above case.
(A) Wholesale Trade
(B) Retail Trade
(C) International Trade
(D) Entrepot Trade
Q8 An Indian company deals in a type of trade in which it purchases (imports) Rubber
from Thailand and sells the same to another company of Japan. Company is earning
good volume of profit from its trade.
Identify the type of trade followed by the company as discussed in the above case.
(A) Wholesale Trade
(B) Retail Trade
(C) International Trade
(D) Entrepot Trade
Q9 Banking, Insurance, Transportation, Warehousing, Communication and Advertising
help in elimination of hindrances of place, time, money, risk and information occurred
during the course of business. These are popularly termed as
(A) Trade
(B) Employment
(C) Commerce
(D) Auxiliaries to Trade
Q10 Which of the following is/are treated as Auxiliaries to Trade?
(A) Banking Industry
(B) Insurance Industry
(C) Transportation Industry
(D) All of the above
Q11. The industries which provide support services to other industries are known as
(A) Primary industries
(B) Secondary industries
(C) Commercial industries
(D) Tertiary industries
Q12. Cyclone caused lots of damages to the street vendors and retail stores in the state.
Rahim, owner of a Grocery Shop suffered a lot because of cyclonic effect. Government
declared a relief package to the affected people of the affected areas.
Identify the type of risk caused to the Shopkeepers highlighted in the above case.
(A) Natural Cause
(B) Human Cause
(C) Economic Cause
(D) None of the above
Q13 .The possibilities of inadequate profits or even losses due to uncertainties are known as
____________
(A) Business contingencies
(B) Business risks
(C) Business ventures
(D) None of these
Q14 Which of the following does not characterize business activity :
(A) Production of goods and services
(B) Presence of risk
(C) Sale or Exchange of goods and services
(D) Salary or wages.
Q15 Which of the following cannot be classified as an objective of business?
(A) Investment
(B) Productivity
(C) Innovation
(D) Profit Earning
Assertion- Reasoning Based Questions
Q1Assertion (A) One of the main purposes of business is to earn income by way of
profit.
Reason (R) No business can survive for long without profit.
Codes
(A) Both A and R are true. R is the correct explanation of A
(B) Both A and R are true, but R is not the correct explanation of A
(C) A is correct, but R is incorrect
(D) A is incorrect, but R is correct
Q2 Assertion (A) Business represents exchange of Goods and Services.
Reason (R) Risk and Uncertainties are always there with any form of business.
Codes
(A) Both A and R are true. R is the correct explanation of A
(B) Both A and R are true, but R is not the correct explanation of A
(C) A is correct, but R is incorrect
(D) A is incorrect, but R is correct
Q3. Assertion (A) Business is considered as an economic activity.
Reason (R) It involves exchange of goods and services among people in the society.
Codes
(A) Both A and R are true. R is the correct explanation of A
(B) Both A and R are true, but R is not the correct explanation of A
(C) A is correct, but R is incorrect
(D) A is incorrect, but R is correct
C. Case Studies (source based questions)
Maninder, Surinder and Balbinder and Harinder pursued their Masters Degree in Business
Management from a reputed institute of Delhi. After completion of their studies, all of them
got engaged in different fields. Maninder got a job at an Oil Refinery Industry as a Junior
Executive Finance. Surinder joined his family business of Textile Industry at Jalandhar,
Punjab. Balbinder opened his own Dairy Firm and Harinder join construction business
Q1 Name the type of industry Mr. Maninder worked in reference to the above lines.
(A) Genetic Industry
(B) Extractive Industry
(C) Territory Industry
(D) Assembling Industry
Q2 Indentify the type of industry Mr. Surinder worked with as highlighted in the above
case.
(A) Analytical Industry
(B) Synthetic Industry
(C) Processing Industry
(D) Assembly Industry
Q3 Which type of industry Mr. Balbinder started after his studies as referred in the above
case?
(A) Genetic Industry
(B) Processing Industry
(C) Territory Industry
(D) Manufacturing Industry
Q4 Indentify the type of industry Mr. Harinder worked with as highlighted in the above
case.
(A) Primary Industry
(B) Secondary Industry
(C) Tertiary Industry
(D) None of Above
CHAPTER- 2 FORMS OF BUSINESS ORGANISATIONS
D. Multiple Choice Questions(MCQ’S)
Q1 Ajeet started its Travel Agency in the year 2000 by taking a small room on Rent in
Delhi. He invested money and efforts to build his business. Quality and timely
services provided by his Travel Agency made him popular in Delhi.
Name the form of business organization owned and operated by Ajeet.
(A) Partnership
(B) One Person Company
(C) Joint Venture
(D) Sole Trading Concern
Q2 After completing high studies in Hotel Management courses from one of the highly
reputed Hotel Management Institutes of India, Mahesh decided to start his own
Bakery at his home town. His father arranged funds and supported him to
commence his business. He recruited some staffs, purchased required equipments
and machineries. Within few months, he started manufacturing bakery products in
the market and sold at reasonable prices. His quality products and reasonable
prices helped him in making good profit.
Identify the form of business organization highlighted in the above case.
(A) Company
(B) Joint Hindu Family Business
(C) Sole Trading concern
(D) Partnership
Q3. Amandeep involves in selling School and College Uniforms at his retail outlet located at
Ambala. It is his family business, now controlled and managed by him. In the Covid–19
period, schools and colleges are mostly closed all around the state. Due to this
pandemic situation, he records a very little business of ignorable volume. He is paying staff
salaries, electricity bills and other fixed expenses each month. He is facing huge financial
losses because of Covid -19 and its effects.
Which features of sole trading business is highlighted in the above case?
(A) Easy Formation
(B) Profit
(C) Secrecy
(D) Risk and Uncertainties
Q4 Mehul was a Book Shop owner at Ludhiana, Punjab. He purchased school and
college books of different publishers and sold in the market. He was quite
successful in his business and earning good profit. Last month, he passed away due
to Cardiac Attack. His only son is settled at Paris and not interested to return back.
Book Shop of Mehul was closed since his death and will remain so.
Which features of sole trading business is highlighted in the above case?
(A) Easy Formation
(B) Profit
(C) Secrecy
(D) Lack of business continuity
Q5 Md. Sameer is an emerging entrepreneur from Hyderabad deals in selling of
Electrical Appliances. He received a profitable offer to purchase a retail outlet
adjacent to his showroom. But he refused very politely due to constraints of funds. It
could be seen as a lost opportunity for him.
Which limitation of sole trading business is highlighted in the above case?
(A) Limited Resources
(B) Lack of managerial ability
(C) Unlimited liability
(D) Lack of Perpetuity
Q6. Mr. Kishor Majoomdar is running his family business at Kolkata, West Bengal. He
is the eldest member of his family. Both male and female members are allowed to
participate in their business. But Kishor ji always remain the power center and sole
authority in controlling and regulating business. Name the form of business
organizations run by the friends referred in the above case.
(A) Partnership
(B) One Person Company
(C) Joint Hindu Family Business
(D) Sole Trading Concern
Q7. The objects of the company are specified by
(A) Articles of Association
(B) Memorandum of association
(C) Prospectus
(D) Certificate of Incorporation
Q8. A Joint Hindu Family business runs by Mr. Sachin Agarwal, in Hyderabad,
Telangana. In a centralized management environment, he is operating and
managing all business activities as the Eldest Member of the family. How Mr. Sachin
should be designated or recognized in the family business?
(A) Elder Member
(B) Karta
(C) Coparcener
(D) Partner
Q9. A group of Female Households of a rural village of Odisha decided to start their
personal group. The main intention of forming the group was to help their members in
building their houses or procuring lands at reasonable costs. They gave a name “Mallhar” to
their group. It dealt in building flats or providing plots to their members. Members were asked
to pay off their loan amount in easy installments. In certain cases, group helped its members
in purchasing flats or plots by arranging loans
from commercial banks or financial institutions.
Name the form of business organizations run by the friends referred in the above
case.
(A) Partnership
(B) One Person Company
(C) Joint Hindu Family Business
(D) Housing Cooperative Society
Q10. The maximum amount up to which a company can issue capital, is called
(A) Authorized Capital
(B) Called Up Capital
(C) Issued Capital
(D) Subscribed Capital
Q11 . Ramesh is presenting himself as partner of ABC Associates through his conduct or
behaviour. Clients dealing with the firm accept him as a partner due to his self
acclaimed attitude of being a partner of the firm.
Which type of partner Mr. Ramesh is referred in the above case?
(A) Active Prater
(B) Sleeping Partner
(C) Secret Partner
(D) Partner by Estoppel
Q12 Randaxy Associates is a reputed partnership firm located at New Delhi. Firm
provides different professional services related to legal matters to its clients. As per
the annual report of the firm, there is a partner enjoying a specific portion of profit
but no information about the partner is available on record.
Identify the type of partner with undisclosed personal information mentioned in the
above case.
(A) Active Prater
(B) Sleeping Partner
(C) Secret Partner
(D) Partner by Estoppel
Q13. Ram, Sameer and Joseph are partners in a partnership firm. They are sharing profits
and losses at a ratio of 2:2:1. A dispute arises among them on a particular issue related to
transferring of interest of Ram’s share to his brother Shyam. Sameer and Joseph refuse to
accept the proposal of Ram for transferring his share in the firm business to Shyam.
Identify the limitations of partnership firm highlighted in the above case.
(A) Limited Resources
(B) Unlimited Liability
(C) Lack of Public Confidence
(D) Non-transferability of Interest
Q14. Amar, Biraj, Sachin, Rohit and Ishant have decided to start a partnership to
complete a specific project within 02 years. It has been unanimously decided among
them to contribute equally towards meeting the budgeted expenditures of the project
and to share profits or losses equally. As per the agreement, partnership business
will come to an end on completion of the project.
Which type of partnership referred in the above case?
(A) Partnership at will
(B) Particular Partnership
(C) General Partnership
(D) Limited Liability Partnership
Q15. ‘It is a democratic large sized organisation having numerous shareholders; the
owners having minimum influence in terms of controlling or running the business.”
Which form of organisation and the corresponding demerit is highlighted here?
(A) Cooperative Society — Government Control
(B) Joint Stock Company — Impersonal Work Environment
(C) Cooperative Society — Inefficiency in Management
(D) Joint Stock Company — Oligarchic Management
E. Assertion- Reasoning Based Questions
Q1 Assertion (A) Sole Trading Concern is treated as a “One Man Show”.
Reason (R) It is owned, controlled, managed and operated by the owner all alone.
Codes
(A) Both A and R are true. R is the correct explanation of A
(B) Both A and R are true, but R is not the correct explanation of A
(C) A is correct, but R is incorrect
(D) A is incorrect, but R is correct
Q2 Assertion (A) Secrecy can be maintained in case of sole proprietorship.
Reason (R) All Sole Proprietors are always honest.
Codes
(A) Both A and R are true. R is the correct explanation of A
(B) Both A and R are true, but R is not the correct explanation of A
(C) A is correct, but R is incorrect
(D) A is incorrect, but R is correct
Q3 Assertion (A) Sole Proprietorship business does not have a separate legal entity
different from its owner.
Reason (R) Sole trader or proprietor enjoys all the profits of the business earned
during the course of business.
Codes
(A) Both A and R are true. R is the correct explanation of A
(B) Both A and R are true, but R is not the correct explanation of A
(C) A is correct, but R is incorrect
(D) A is incorrect, but R is correct
F. Case Studies (source based questions)
Mr. Sumit owns an ancestral house in Jamnagar. On the advise of his friend he
converts it into a lodge after renovation. The revenue from the lodge helps to
supplement his income considerably. On his death the property (lodge) is inherited
by his three sons in order of their age namely, Mr. Sham, Mr. Anil and Mr. Satish
who carry on with the business.
Q1 Which form of business is carried by Mr. Sumit
(A) Partnership
(B) One Person Company
(C) Joint Venture
(D) Sole Trading Concern
2 Which form of business is carried by their sons
(A) Partnership
(B) Joint Hindu Family Business
(C) Joint Venture
(D) Sole Trading Concern
3 Who amongst the three brothers has the right to exercise control over the family
business?
(A) Mr. Sham
(B) Mr. Anil
(C) Mr. Satish
(D) All the above
4 Which law governs Joint Hindu Family Business.
(A) Indian Partnership Act, 1932
(B) Cooperative Societies Act, 1912
(C) The Companies Act, 2013
(D) Hindu Succession Act, 1956
