Q1.Which one is not the feature of partnership?

(a) Sharing of profit (b) Limited liability (c) Two or more than two persons (d) Agreement

Q2.The current account of the partners will always have _______.

(a) Credit balance (b) Either of the two (c) Debit balance (d) None of the above

Q3.In the absence of a partnership deed, partners are not entitled to receive ______.
(a) Commission (b) Interest on Capital (c) Salaries (d) All of the above

Q4.The interest on capital accounts of partners under the fixed capital method is to be credited to
______.
(a) Profit and loss A/c (b) Interest A/c (c) Partner’s current A/c (d) Partner’s capital A/c
Q5.Define these:-
(i) Goodwill (ii)Revaluation a/c (iii) P/L App. a/c (iv) Admission of a partner
(v)Retirement of a partner (vi) Reconstitution of firm (vii) Partnership (vii) Firm (viii)
Partnership deed

Q6. State the conditions under which the capital balances may change under the system of a Fixed
Capital Account.
Q7. Name two factors affecting value of goodwill of a firm.
Q8. Why is it necessary to have partnership deed?
Q9. State any two circumstances in which sacrificing ratio may be applied.
Q10. State the conditions under which the capital balances may change under the system of a Fixed
Capital Account.
Q11. A, B and D are partners in a firm. On 1st April 2024 the balance in their capital accounts
stood at Rs.4,00,000, Rs.3,00,000 and Rs.2,00,000 respectively. They shared profits in the
proportion of 5 : 3 : 2 respectively. Partners are entitled to interest on capital @ 10% p.a. and salary
to B and D @ Rs.2,000 per month and Rs.3,000 per quarter respectively as per the provisions of
the partnership deed. B’s Share of profit (excluding interest on capital but including salary) is
guaranteed at a minimum of Rs.50,000 p.a. Any deficiency arising on that account shall be met
by D. The profits of the firm for the year ended 31st March 2025
amounted to Rs.2,00,000. Prepare ‘Profit and Loss Appropriation Account’ for the year ended
31st March 2025.
Q12. X and Y were partners in a firm sharing profits in 3 : 1 ratio. They admitted Z as a new
partner for 1/4th share in the profits.
Z was to bring Rs.20,000 as his capital and the capitals of X and y were to be adjusted on the basis
of Z’s capital in the profit sharing ratio. The balance sheet of X and Y on 31.3.2024 was as follows
;
Liabilities Amount Assets Amount
Sundry Creditors 18,000 Cash 5,000
Bills Payable 10,000 Debtors 17,000
General Reserve 12,000 Stock 12,000
Capitals : X 25,000 Machinery 21,000
Y 10,000 35,000 Building 20,000
75,000 75,000

Other terms of agreement on Z’s admission were as follows:

(i) Z will bring Rs.6,000 for his share of goodwill. (ii) Building will be valued at Rs.25,000 and
Machinery at Rs.19,000.
(iii)A Provision at 5% on debtors will be created for bad debts. (iv)Capital accounts of X and y
will be adjusted on the basis of Z’s capital by opening current accounts. Prepare Revaluation A/c,
Partners Capital A/cs and Balance Sheet of new firm.
Q13. X, Y and Z are partners their fixed capitals are Rs.2,00,000; Rs.2,00,000; Rs.1,50,000. Their
profit sharing ratio is 3:2:1. After the final accounts have been prepared, it was discovered that
interest on drawings had not been taken into consideration, the interest on drawings of partners
amounted to X Rs.1,000; Y Rs.760; Z Rs.400. pass necessary adjusting entry.
Q14. What is meant by partnership and state any two essential elements of partnership.
Q15. State the two main rights that a newly admitted partner acquires in the firm.
Q16.Give the minimum & maximum number of partner for partnership business.
Q17. Calculate interest on X’s drawings @ 12% if he withdraws Rs. 2,000 at the end of every
month during the year.
Q18. Is a partner entitled to salary if he works more than others if partnership deed is silent?
 Q19. Pink, Black and White are partners sharing 5:3:2 White is guaranteed a minimum amount of
Rs 10,000 as share of profit every year. Any deficiency shall be met by Black. The profit for the
year ending 31st March 2005 where Rs 60,000. Prepare profit & loss appropriation account.

Q20. X, Y and Z are sharing profits and losses in the ratio of 5:3:2. They decide to share future
profits and losses in the ratio of 2:3:5 with effect from 1 st April, 2025. They also decide to record
the effect of the reserves without affecting their book figures, by passing a single adjusting entry.
General Reserve Rs. 40,000, Profit & loss A/C (Cr)Rs. 10,000,&Advertisement Suspense A/C(Dr)
Rs. 20,000
Pass the necessary single adjusting entry.
Q21. Mamootty and Suresh Gopi were partners in a firm sharing profits and losses in 3:2 ratio. They
admitted Dileep for 1/4 share on 1.1.2016. It was agreed that goodwill of the firm will be
valued at 3 years purchase of the average profits of last 4 years which were Rs. 50,000 for
2016, Rs. 60,000 for 2015, Rs. 90,000 for 2014 and Rs. 70,000 for 2013. Dileep didn’t bring
his share of goodwill premium in cash. Record the necessary journal entries in the books of
the firm on Ram Lal’s admission when:
Goodwill already appears in the books at Rs. 2,02,500.
Goodwill appears in the books at Rs. 2,500.
Goodwill appears in the books at Rs. 2,05,000.
Q22. Give two circumstances in which gaining ratio is computed.
Q23 . Adhav and Madhav are partners in a firm sharing profits and losses in the ratio of 3:2.
They admitted Yadhav as a new partner for 1/6 share of profits. Yadhav is to bring in Rs.
50,000 as capital and Rs. 20,000 as his share of goodwill premium. Give the necessary
journal entries:
a) When the amount of goodwill is retained in the business.
b) When the amount of goodwill is fully withdrawn.
c) When 50% of the amount of goodwill is withdrawn.
d) When goodwill is paid privately.
Q.24. The Balance Sheet of A, B and C on 31st March 2025 was as under :
BALANCE SHEET as at 31.12.2007

Liabilities Amount Assets Amount

A‘s Capital 400,00 Buildings 20,000

B‘s Capital 30,000 Motor Car 18,000

C‘s Capital 20,000 Stock 20,000

 General Reserve 17,000 Investments 1,20,000

Sundry Creditors 1,23,000 Debtors 40,000

Patents 12,000

2,30,000 2,30,000

The partners share profits in the ratio of 8 : 4 : 5. D admitted for 1/5 share on the same date subject
to the following terms and conditions:
i) 20% of the General Reserve is to remain‘ as a reserve for bad and doubtful debts.
ii) Motor Car is to be decreased by 5%.
iii) Stock is to be revalued at Rs.17, 500.
iv) Goodwill is valued at‘ 2 ½ years purchase of the average profits of last 3 years.
Profits were; 2001: Rs.11,000; 200l: Rs. 16,000 and 2003: Rs.24,000.
Prepare Revaluation Account, Capital Accounts and Balance Sheet of A and B.
Q.25 Ravi and Mohan were partner in a firm sharing profits in the ratio of 7:5. Their respective
fixed capitals were Ravi Rs. 10,00,000 and Mohan Rs. 7,00,000. The partnership deed
provided for the following:-
(i) Interest on capital @ 12% p.a.
(ii) Ravi’s salary Rs. 6000 per month and Mohan’s salary Rs. 60000 per year.
The profit for the year ended 31-03-2025 was Rs. 5,04,000 which was distributed equally
without providing for the above. Pass an adjustment Entry.
Q26. Distinguish between fixed capital method and fluctuating capital method.
Q27 A and B are partners sharing profits in proportion of 3:2 with capitals of Rs. 40,000 and Rs.
30,000 respectively. Interest on capital is agreed at 5 % p.a. B is to be allowed an annual
salary of Rs. 3000 which has not been withdrawn. During 2024-25 the profits for the year
prior to calculation of interest on capital but after charging B’s salary amounted to Rs.
12,000. A provision of 5% of this amount is to be made in respect of commission to the
manager. Prepare profit and loss appropriation account showing the allocation of profits.
Q.28 Rahul and Sahil are partners sharing profits together in the ratio of 4:3. They admit Kamal
as a new partner. Rahul surrenders 1/4 th of his share and Sahil surrenders 1/3 rd of his share in
favour of Kamal. Calculate the new profit sharing ratio.
Q.29 Ajay and Naveen are partners sharing profits in the ratio of 5:3. Surinder is admitted in to the
firm for 1/4th share in the profit which he acquires from Ajay and Naveen in the ratio of 2:1.
Calculate the new profit sharing ratio.
Q.30 A and B were partners sharing profits in the ratio of 3:2. A surrenders 1/6 th of his share and
B surrenders 1/4th of his share in favour of C, a new partner. What is the new ratio and the
sacrificing ratio.
Q.31 Aarti and Bharti are partners sharing profits in the ratio of 5:3. They admit Shital for 1/4th
share and agree to share between them in the ratio of 2:1 in future. Calculate new and sacrific ing
ratio.

Q.32 X and Y divide profits and losses in the ratio of 3:2. Z is admitted in the firm as a new partner
with 1/6th share, which he acquires from X and Y in the ratio of 1:1. Calculate the new profit
sharing ratio of all partners.
Q.33 Rakhi and Parul are partners sharing profits in the ratio of 3:1. Neha is admitted as a partner.
The new profit sharing ratio among Rakhi, Parul and Neha is 2:3:2. Find out the sacrificing ratio.
Q.34 X and Y are partners sharing profits in the ratio of 5:4. They admit Z in the firm for 1/3 rd
profit, which he takes 2/9th from X and 1/9th from Y and brings Rs. 1500 as premium. Pass the
necessary Journal entries on Z’s admission.
Q.35 Ranzeet and Priya are two partners sharing profits in the ratio of 3:2. They admit Nilu as a
partner, who pays Rs. 60,000 as capital. The new ratio is fixed as 3:1:1. The value of goodwill of
the firm was determined at Rs. 50,000. Show journal entries if Nilu brings goodwill for her share
in cash.
Q.36 A and B are partners sharing profits equally. They admit C into partnership, C paying only
Rs. 1000 for premium out of his share of premium of Rs. 1800 for 1/4 th share of profit. Goodwill
account appears in the books at Rs. 6000. All the partners have decided that goodwill should not
appear in the new firm’s books.
Q.37 A and B are partners sharing profits in the ratio of 3:2. Their books showed goodwill at Rs.
2000. C is admitted with 1/4th share of profits and brings Rs. 10,000 as his capital but is not able
to bring in cash goodwill Rs. 3000. Give necessary Journal entries.
Q.38.Piyush and Deepika are partners sharing in the ratio of 7:3. they admit Seema as a new
partner. The new ratio being 5:3:2. Pass journal entries.
Q.39 A and B are partners with capital of Rs. 26,000 and Rs. 22,000 respectively. They admit C
as partner with 1/4th share in the profits of the firm. C brings Rs. 26,000 as his share of capital.
Give journal entry to record goodwill on C’s admission.
Q.40 A and B are partners sharing profits in the ratio of 3:2. They admit C into partnership for
1/4th share. C is unable to bring his share of goodwill in cash. The goodwill of the firm is valued
at Rs. 21,000. give journal entry for the treatment of goodwill on C’s admission.
Q.41 A and B are partners with capitals of Rs. 13,000 and Rs. 9000 respectively. They admit C as
a partner with 1/5th share in the profits of the firm. C brings Rs. 8000 as his capital. Give journal
entries to record goodwill.
Q.42 A, B and C were partners in the ratio of 5:4:1. On 31st March. 2025 their balance sheet showed
a reserve fund of Rs. 65,000, P&L A/C (Loss) of Rs. 45,000. On 1 st January, 2007, the partners
decided to change their profit sharing ratio to 9:6:5. For this purpose goodwill was valued at Rs.
1,50,000.
The partners do not want to distribute reserves and losses and also do not want to record
goodwill.
You are required to pass single journal entry for the above.

Q.43 A and B were partners in the ratio of 3:2. They admit C for 3/13 th share. New profit ratio
after C’s admission will be 5:5:3. C brought some assets in the form of his capital and for the share
of his goodwill.
Following were the assets:
Assets Rs.
Stock 2,44,000
Building 2,40,000
Plant and Machinery 1,40,000

At the time of admission of C goodwill of the firm was valued at Rs. 12,48,000Pass necessary
journal entries.
Q 44 P, Q and R were partners in a firm sharing profits in 4:5:6 ratio. On 01-04-2025 ,Z admitted
for 1/8 share and he takes his share from P and R in 1:4 ratio. Calculate the new profit-
sharing ratio .
Q 45 Mayank, Harshit and Rohit were partners in a firm sharing profits in the ratio of 5:3:2. Sumit
admitted for 1/5 share and goodwill is valued at Rs 60000. Mayank,Harshit and Rohit
decided to share future profits in the ratio 1:1:1. Pass necessary journal entry for treatment
of goodwill.
Q.46 Ramesh, Naresh and Suresh were partners in a firm sharing profits in the ratio of 5:3:2. Karan
admitted and the new profit-sharing ratio will be equally. Goodwill of the firm was valued
at Rs. 120000. Pass necessary journal entry for the same.
Q.47. L, M and O were partners in a firm sharing profits in the ratio of 1:3:2. W admitted for 1/5
share and the new profit-sharing ratio between L,M and O will be equally. That time goodwill of
the firm was valued Rs. 120000. Pass necessary journal entry for the treatment of goodwill
Q.48. Give the meaning of purchased goodwill.
Q49. Following is the Balance sheet of Karan and Sandeep who share profits and loss equally as
on 31st march 2010
BALANCE SHEET (as at 31.12.2025)
Liabilities Rs Assets Rs

Capitals— Bank 40,000

Karan 1,00,000 Debtors 25,000
Sandeep 50,000 Stock 35,000
Creditors 30,000 Machinery 60,000
Workmen Furniture 40,000
compensation fund 15,000
Bank loan 5000

2,00,000 2,00,000
on the above date partner decided to change their profit sharing as 3:2
1. Karan agreed to take over 50% of the stock at 10% less on its book value, the remaining stock
Was valued at 10,000. Furniture and machinery were valued for Rs 30,000 and 50,000
respectively.
2. There was unrecorded Investments for Rs 25,000.
3. Goodwill was valued at Rs. 20,000
4. There was an outstanding bill for repairs Rs 2000. which is to be provided
Prepare necessary journal entries.
Q50. X and Y are partners as they share profits in the proportion of 3:1 their balance sheet as at
31.03.2025 as follows.
BALANCE SHEET
Liabilities Rs. Assets Rs
Capital Account:- Land 1,65,000
X 1,76,000 Furniture 24,500
Y 1,45,200 Stock 1,32,000
Creditors 91,300 Debtors 35,200
Bills Receivable 28,600
Cash 27,500

4,12,500 4,12,500

On the same date, Z is admitted into partnership for 1/5th share on the following terms:-
(i) Z will pay Rs. 50,000 for capital & required amount for goodwill.
(ii) Goodwill is to be valued at 3½ years purchase of average profits of last for year which was Rs.
20,000 Rs. 17,000 Rs.
9,000 (Loss) respectively.
(iii)Stock is found to be overvalued by Rs.2,000 Furniture is reduced by 10% & Land to be
appreciated by 10%
(iv) A provision for Bad Debts @ 12% is to be created on Debtors and a Provision of Discount of
Creditors @ 4% is to be created.
(v )An item of Rs. 1,000 included in Creditors is not likely to be claimed, and hence it should be
written off.
Prepare Revaluation Account, Partners: Capital Accounts and Balance Sheet of the new firm if Z
is to contribute proportionate capital and goodwill. The capital of partners is to be in profit sharing
ratio by opening current Accounts.
PART – A [ MACRO ECONOMICS ]
CHAPTER – MONEY AND BANKING
Multiple Choice Questions
Q1. The two main components of the money supply are
(a) Currency and time deposits (b) Demand deposits and time
deposits
(c) Currency and demand deposits (d) Saving and current deposits
Q2. Which of the following is not a component of M 1measurement of money supply?
(a) Demand deposits (b) Currency (c) Other deposits (d) Term deposits
Q3. Suppose in an economy, the initial deposits of `400 crores lead to the creation of total
deposits worth `4,000 crores. Under the given situation, the value of reserve
requirements would be______.
(a) 0.01 (b) 1 (c) 0.1 (d) 0.4

4. Name the credit control method which refers to difference between the amount of
loan and market value of the security offered by the borrower against the loan.
(a) Selective Credit Controls (b) Moral Suasion (c) Margin Requirements
(d) Legal Reserve Requirements
5. The rate at which commercial banks park their excess reserves with central bank is
known as (a)Repo rate (b) Bank rate (c) Open market sales (d) Reverse repo rate
6.A commercial bank has received deposits worth Rs 1000 crore. The CRR is 4% and SLR is 18%.
Calculate the amount of lending.
7. Explain how central bank uses repo rate to control inflation?
8. Explain the role of central bank as a Lender of last resort.
CH. GOVT. BUDGET
9.

10. Statement 1 : Government expenditure on the Mid-Day Meal scheme running in

government (state-run) schools is a type of Revenue expenditure in the government budget.
Statement 2: Receipts of the government from sale of shares of a Public Sector Undertaking
(PSU) in open market is a capital receipt as it reduces the assets of the government.
(a) Statement 1 is true and statement 2 is false (c) Both statements 1 and 2 are true (b)
Statement 1 is false and statement 2 is true (d) Both statements 1 and 2 are false

11. Assertion: To control deflation, the government may reduce the tax rates.
Reason: Reduction in taxes may increase the purchasing power in the hands of the general public,
which will lead to a rise in Aggregate Demand, thereby controlling the situation of deflation.
12. The Finance Minister of India Nirmala Sitharaman has secured the fiscal deficit at 6.8% for
the fiscal year 2021-22 and has targeted to bring it lower to 4.5% of GDP by 2025-26. During the
pandemic, the deficit reached 9.5% of GDP because of two reasons: First, a fall in revenue of the
government and negative economic growth. Second, increased non-development expenditure to
provide food and other essentials to vulnerable groups as well as Rs 20 lakh crore stimulus package
to revive the economy. Source: Article published in The Hindu on
1 February 2021
(a) Mention the objectives government is trying to achieve by a stimulus package of Rs. 20 lakh
crores?
(b) What category of expenditure does the cost incurred on providing essential goods to vulnerab le
groups during the pandemic fall under _________. (capital expenditure/reve nue
expenditure/development expenditure) What is the rationale behind including it in that specific
category?
13. (a) Differentiate between public provision and public production.
(b) ‘Under the Ayushman Bharat Scheme, the Government provides free medicines to the
economically backward section of the society’. Identify and discuss the nature of the governme nt
expenditure indicated in the given statement.
14. (a) A budget can be a deficit, surplus, or balanced.” Do you agree with the given statement?
Give valid reasons in support of your answer.
(b) "In recent times, the Government of India has incurred a lot of expenditure on the acquisitio n
of indigenous defense items under the 'Make-in-India' programme." Identify and discuss the two
types of budget expenditures that may be undertaken by the Government as suggested in the above
statement
CH . FOREIGN EXCHANGE RATE and BALANCE OF PAYMENTS
15. Identify the incorrect statement from the following with respect to the flexible exchange rate
system
a. There are no official reserve transactions. b. It is also called as dirty floating system c. It gives
more flexibility to the government as there is no need to hold forex reserves. d. Market mechanis m
will drive the exchange rate back to the equilibrium level
16. Identify the capital account transaction from the following
a. Interest payment received on foreign loan b. Purchase of land abroad c. Export of consultanc y
services of TCS. Import of machinery
17. Statement 1: Depreciation of a country’s currency will lead to an increase in its imports.
Statement 2: As a result of depreciation, domestic goods will become cheaper in foreign countries.
18. 1. Read the newspaper article given below and answer the questions that follow The Indian
rupee plummeted to a historic low on Thursday, driven by strong dollar demand from local
importers and likely capital outflows. The rupee sank to an all-time low of ₹83.65 against the U.S.
dollar, marking a decline from its previous close of 83.4550. Despite the central bank’s routine
interventions via state-run banks, there were no such dollar offers on Thursday. This absence
allowed the rupee to slide to its record low, according to foreign exchange experts. Contributing
to this was a robust U.S. dollar, coupled with weakness in the Chinese Yuan, which added pressure
on the currency throughout the day. The rise in crude oil prices may have put a dent in the Indian
rupee as India is the third-largest consumer of crude oil in the world, after the US and China.
a. Discuss the impact of the above situation on India’s foreign trade sector and National income.
b. Identify the likely causes for it under a flexible exchange rate system
19. Differentiate between the current account deficit and the current account surplus.
20. Explain the likely effect on the foreign exchange rate when the demand of foreign exchange
falls.
PART B: INDIAN ECONOMIC DEVELOPMENT
CHAPTER: INDIAN ECONOMY ON THE EVE OF INDEPENDENCE
21.The multifaceted process of demographic transition within the context of India pertains to:
(a) a sudden decline in the population growth rate due to migration (b) a change in the population
density across different states in India (c) a significant increase in the birth rate and death rate
simultaneously (d) a shift from high birth and death rates to low birth and death rates over
time.
22. The export surplus generated under British rule, was used
(a) To invest in capital goods industries in India (b) To invest in capital goods industries in Britain
(c) To meet the official and war expenses of the British (d) To pay the salaries of Indian
government employees
23. Arrange the following event in the correct chronological order:
(i) The year of great divide (ii) Establishment of Tata Iron and Steel Company (TISCO)
(iii) Introduction of Railways in India by the British (iv) Opening of Suez Canal
24. Assertion (A): Indian agriculture experienced a decline in productivity during British rule.
Reason (R): British land revenue policies imposed high taxes on farmers, discouraging investme nt
in agriculture.
25.Assertion (A): India had a poor industrial sector on the eve of independence.
Reason (R): The British government was more focused on developing India’s agricultural and
manufacturing base for domestic needs.
26. In the latter half of the nineteenth century, modern industry began to establish itself in India,
though its progress was notably slow. Initially, this development was limited to the establishme nt
of cotton and jute textile mills. The cotton mills, primarily owned by Indians, were concentrated
in the western regions of Maharashtra and Gujarat, while the jute mills, mostly foreign-owned,
were primarily located in Bengal. As the twentieth century began, iron and steel industries began
to emerge, with the Tata Iron and Steel Company (TISCO) being incorporated in 1907. After
World War II, a few other industries, such as those in sugar, cement, and paper, were also
established. However, the lack of a capital goods industry, which produces machine tools
necessary for manufacturing consumer goods, hindered further industrialization in India. The
sporadic establishment of manufacturing units did little to compensate for the extensive decline of
the country’s traditional handicraft industries. Additionally, the growth rate of the new industr ia l
sector and its contribution to the Gross Domestic Product (GDP) or Gross Value Added remained
minimal. A further limitation of this new industrial sector was the narrow scope of the public
sector, which was restricted to railways, power generation, communications, ports, and a few other
departmental undertakings.
(a) What were the main industries that emerged in India during the second half of the nineteenth
century, and where were they located?
27. Explain the infrastructural development that took place during the British period
CHAPTER : INDIAN ECONOMY [ 1950-1990]
28. Self – reliance does not relate to the following
a) to avoid imports of those goods which could be produced in India.
b) to reduce dependence on foreign countries, particularly for defense items.
c) to avoid the foreign government's interference in Indian economic policies.
d) to reduce dependence of the Indian economy on foreign countries, especially for food grains.
29. Which of the following committees was constituted for the development and promotion of
small-scale industries in India
a) P.C. Mahalanobis b) RLEGP c) Dr. V.K.R.V. Rao d) Karve
30. Statement 1: Low productivity of the agricultural sector forced India to import food grains
from the USA.
Statement 2: Agricultural development was focused right from the first five-year plan as it
accounted for the largest share of work workforce
31. Read the following statements – Assertion (A) and Reason (R). Choose the correct alternative
given below
Assertion(A): Subsidy is important for adoption of new technology in agricultural sector Reason
(R): subsidy lays a huge burden on the government exchequer.
32.

On the basis of the following image, identify the suitable objective of economic planning. Explain
it briefly

33. How the green revolution poses a threat to the

Indian agricultural ecological system. Explain.
CHAPTER - Economic reforms -1991
34. Which of the following statements correctly represents the action taken by the governme nt
towards liberalization?
P: Levying high tariffs to discourage imports and promoting the consumption of domestic goods
and services.
Q: Devaluation of the Rupee to encourage the inflow of foreign exchange
R: Allowing for private banks to make decisions independent of the RBI restrictions
S: Fixing prices of certain industrial goods in order to support increased consumption of these
goods to boost the manufacturing industry
(a) P and Q only (b) P and R only (c) Q and R only
35. “Finance Minister Nirmala Sitharaman highlighted the significant impact of GST on the
economy, praising its role in benefiting the poor by lowering taxes on essential items and
improving tax buoyancy across states” - The Economic Times. What is one of the benefits of GST
for the poor? (a)
Increasing prices of essential items (b) Lowering taxes on essential items (c) Decreasing the
availability of essential items (d) Increasing import duties on essential items
36. Read the following statements carefully and choose the correct alternative from the following:
Statement 1: Over the years, the Indian government has increased its stake in several public sector
enterprises.
Statement 2: Privatization implies the greater role of the private sector in the economic activities
of the country
37. Read the following statements: Assertion (A) and Reason (R). Choose one of the correct
Alternatives.
Assertion (A): Every year, the government fixes a target for the disinvestment of Public Sector
Enterprises (PSEs)
Reason (R): Disinvestment is an excellent tool for disregarding the loss incurred by Public Sector
Enterprises (PSEs]
38. Under the GST regime, which taxes were subsumed into a single tax system? (a) Only central
excise duty (b) Only service tax (c) Both central excise duty and service tax (d) None of the above
Evaluate the impact of demonetization on the Indian economy
39. Explain stabilization and structural measures undertaken under the New Economic Policy.
40. Explain some of the achievements of the new economic policy.
CHAPTER - HUMAN CAPITAL FORMATION
41. In ___________ the Five-Year plan, India emphasised human Capital formation a. 2 nd b.
3rd c. 5th d. 7th
42.___________________ indicator may be defined as a measure of the extent of demographic
participation in the social and political decision-making. a. Economic indicator b. Liberty indicator
c. Health Indicator d. Demographic indicator.
43. Soumya was initially working as an office accountant in a firm. In the pursuit to attain position
and income, she attended a few training sessions, which contributed positively to her skills and
expertise.” Identify the source of human capital formation on which Soumya’s decision is based.
a. Expenditure on education b. Expenditure on health c. Expenditure on the job training d.
Expenditure on information
44. Identify which of the following are associated with the problem of human capital formatio n
in India? (i) Brain Drain (ii) Low academic standards (iii) Rising population (iv) change in social
Outlook (a)
(i) and (ii) (b) (ii) and (iii) (c ) (i) ,(ii) and ( iii) (d) (i) and (iv)
45. . Statement 1: Human Capital formation causes higher rate of participation.
Statement 2: Human Capital formation leads to greater job opportunities by enhancing productive
capacities of the labor force.
46. Statement1: Human Capital treats human beings as a means to an end.
Statement 2: Human Capital formation decreases by way of investments in education and health.
47. .Assertion: Human capital is not traded in market; however, its services are traded in market.
Reason: Human capital is intangible in nature.
48.

a.Define literacy rate.

b. What is life expectancy?
c. In which year was the life expectancy in case of males more than that of females?
d. Write down any two reasons for the reduction in the infant mortality rate.
49. How does Human Capital formation cause innovations and inventions?
50. Explain the impact of Brain Drain on human capital formation in India.
1. Write a program to modify the value 5000 to 7000 in the following Series “S1”
A. 25000 B. 12000 C. 8000 D. 5000
2. Write a program to modify the value 5000 to 7000 in the following Series “S1”
A. 25000 B. 12000 C. 8000 D. 5000
3. Consider the following Data Frame df and answer questions

i. Write code to delete column B

ii. Write the output of the below code
print(df.tail(2))
iii. Write code to delete row salary
iv. Change the value of column A to 100
v. Change the value of DEPT of B to MECH
vi. Display DEPT and SALARY of column A and B
vii. Write code to rename column ‘A’ to ‘D’ which will not affect original dataframe
viii. Write code to add a column E with values [CS, 104, XYZ, 300000]
ix. Write code to add a row COMM with values [3000,4000,5000]
x. Write code to rename DEPT to DEPARTMENT which will effect the original dataframe
xi. Write code to display DEPT in A
i. print(df.A[‘DEPT’])
ii. print(df[‘A’,’DEPT’])
iii. print(df.iloc[1:2,1:2])
iv. print(df.iat[3,2])
xii. Write the output of the statement print(len(df))

i. 3 ii. 4 iii. (4,3) iv. (3,4)

4. Consider the following Data Frame df and answer questions

i. Create a new column total TOT by adding marks

ii. Find the highest marks scored by student s1
iii. Find the lowest marks scored by student s1
iv. Find the highest marks in ACC
v. Find the lowest marks in IP

5. Consider the following Data Frame df and answer questions

i. Display details of city delhi and chennai

ii. Display hospitals in delhi
iii. Display shape of dataframe
iv. Change the population in kolkatta as 50
v. Rename the column population as “pop”

6. Consider the following Data Frame df and answer questions

i. Display the name of city whose population >=20 range of 12 to 20

ii. Write command to set all vales of df as 0
iii. Display the df with rows in the reverse order
iv. Display the df with only columns in the reverse order
v. Display the df with rows & columns in the reverse order

7. Consider the following Data Frame df and answer questions

Write the ouput of the following

i. print(len(df))
ii. print(df.count())
iii. print(df.count(1))
iv. print(min(df.loc['SALARY']))
v. print(max(df.loc['ENAME']))

8. Consider the following graph. Write the code to plot it

9. Write code to draw the following bar graph representing the classes and number of students in
each class.

10. Write a program to generate a histogram with the following values

X= [25,28,35,46,57,68,73]
Include the following parameters/arguments along with histogram:
1. It should be a horizontal histogram 2. Number of bins should be 20

1.Assignment: Chapters covered:

 Relations & Functions

 Inverse Trigonometric Functions
 Matrices
 Determinants
 Continuity & Differentiability
(A) Multiple Choice Questions (MCQs)

1.The number of functions from a set with 3 elements to a set with 2 elements is:

A) 6 B) 8 C) 4 D) 2

2.A function is onto (surjective) if:

A) Each element of codomain is an image of some element from domain

B) Every element of domain is mapped C) No element is repeated D) All of the above

3.The inverse of a function exists only if the function is:

A) Many-one. B) Onto. C) One-one D) One-one and onto

4.If the rows and columns of a square matrix are interchanged, the value of the determinant:

A) changes sign B) becomes zero C) remains the same. D) doubles

5.The determinant of an identity matrix of order 3 is:

A) 0 B) 1 C) 2. D) 3

6.The determinant of a skew-symmetric matrix of odd order is:

A) 1. B) 0. C) - 1 D) Non-zero

7.The determinant of a singular matrix is:

A) 1 B) -1. C) 0. D) Non-zero

8.If a determinant has all elements of one row (or column) as zero, then its value is:

A) 1. B) Infinity. C) Zero. D) Depends on matrix

9.If rows and columns are interchanged in a determinant, its value:

A) becomes negative B) remains unchanged C) doubles. D) be comes zero

10.The function f(x)= |x-2|, then f(x) is

A). Continuous at x= 2 B). Discontinuous at x= 2 C)Not defined at x= 2 D) Differentiable atx =

2
(B)Assertion–Reason Based Question
11. Assertion (A): Every bijective function has an inverse.
Reason(R): Inverse function exists only for one-one onto functions.

12.Assertion (A): The principal value of sin-1 x = 1/2 is π/6.

Reason( R): Sin π/6 = ½ and x€ [π,/2,π/2]

13. Assertion (A): The relation f : 1,2,3,4   x y z p  defined by f 1, x) , (2,y) , (3,z  is
a bijective function.

Reason (R): The function relation f : 1,2,3,4   x y z p  defined by f 1,x) , (2,y) , 3,z 
is one one.

14. Assertion (A)::The determinant of a singular matrix is zero.

Reason ®: A matrix is singular if its determinant is zero.

15Assertion (A): Derivative of a constant is zero.

Reason : Rate of change of a constant function is zero.

16Assertion (A): If a function is differentiable at a point, it must be continuous at that point.

Reason ®: Continuity is a necessary condition for differentiability.

(C)Short Answer Type I Questions

17. Define bijective function with an example.

18.Find the value of cot -1 (x)+ tam – 1(1).

19.If A is a square matrix such that A 2 = A, then write the value of 7A - (I + A) 3, where I is an identity matrix.

20.Let R is the equivalence relation in the set A = {0,1, 2, 3, 4, 5} given by R = {(a, b) : 2 divides (a – b)}.
Write the equivalence class [0].

21.29. Construct a 2 × 2 matrix: if aіј = .The elements a of a 3 × 3 matrix are given by aij = 12|- 3i + j|.
Write the value of element a32.

22.State the reason for the relation R in the set {1, 2, 3} given by R = {(1, 2), (2,1)} not to be transitive.

23.Let A = {12,3} and B ={4,5}.How many relations are possible from A to B?

24.Find the domain and range of the function .f(x) = 1/ x-2 .

25.Determine the value of ‘k’ for which the following function is continuous at x = 3:

26.If y = cos (√3x), then find dy/dx.

(D) Short Answer Type II Questions

33π)
27. Find the value sin-1 cos ( ).
5

28. Find the domain of sin -1 (x 2-4).

29. Determine the points of discontinuity of the composite function y = [f(x)], given that, f(x) = 1/x-
1.
−1
30. The differentiation of cot-1 x with respect to x is .
1+𝑥 2
31. Prove that sin (3/5) – sin (8/17) = cos (84/85).
-1 -1 -1

32. Find the value of cos-1 (1/2) + 2 sin-1 (1/2).

33. Solve: tan-1 2x + tan-1 3x = π/4.
34. Let A = R {3} and B = R – {1}. Consider the function f: A →B defined by f (x) = (x- 2)/(x -3). Is f
one-one and onto? Justify your answer.
35.If y= tan x + sec x, then show that d2.y / dx2 = cos x / (1-sin x)2,
36. Find k if the following matrices are singular
4 3 1
[ 7 𝑘 1]
10 9 1

(E) Long Answer Type Questions (5 marks)

37. Prove that sin-1 (3/5) – sin-1 (8/17) = cos-1 (84/85).
38. Find the value of cos-1 (1/2) + 2 sin-1 (1/2).
4 5 7
39. Express A as the sum of a symmetric and a skew-symmetric matrix, where A=[−3 2 3].
9 −2 8
40.If tan -1 x+tan -1 y+tan-1 z= π, then prova that xyz= xy+yz+ zx.
41. Show that the Signum Function f: R → R, given by
−1 , 𝑓𝑜𝑟 𝑥 < 1
f(x)={ 0 ,𝑥 = 0 , x=0 is neither one−one nor onto−1for x<0
1 ,𝑥 > 1
42. Find the values of p and q for which

is continuous at x = π/2.
43. Find the value of a for which the function f is defined as

43. If (cos x)y = (cos y)x, then find dy/dx.

44. If √1+y +y√1+ x=0 = 0,(x ≠ y), then prove that dy/dx=−1/(1+x)2 .
45, If y = (sin-1 x)2 prove that
𝑑2 𝑦 𝑑𝑦
(1 – x2 ) –xd–2 =0
𝑑𝑥 2 𝑑𝑥

2 3 4
46. If A = [2 1 2 ].
5 1 1
find A-1 . Hence solve the system of equations
x + 3y + 4z = 8
2x + y + 2z = 5
and 5x + y + z = 7.
−4 4 4 1 −1 1
47.Determine the product of =[−7 1 3 ] and = [1 −2 −2]then Use to solve the system of
5 −3 −1 2 1 3
equations
x – y + z = 4
x – 2y – 2z = 9
2x+ y +3z =1

(F) Case Study Based Questions

Q 48. A general election of Lok Sabha is a gigantic exercise. About 911 million people were eligible to
vote and voter turnout was about 67%, the highest ever Let I be the set of all citizens of India who were
eligible to exercise their voting right in general election held in 2019. A relation ‘R’ is defined on I as
follows: R = {(𝑉1, 𝑉2) ∶ 𝑉1, 𝑉2 ∈ 𝐼 and both use their voting right in general election – 2019}
1. Two neighbors X and Y∈ I. X exercised his voting right while Y did not cast her vote in general election
– 2019. Which of the following is true?
a. (X, Y) ∈R b. (Y, X) ∈R c. (X, X) ∉R d. (X, Y) ∉R
2. Mr.’𝑋’ and his wife ‘𝑊’both exercised their voting right in general election -2019, Which of the
following is true?
a. both (X, W) and (W, X) ∈ R b. (X, W) ∈ R but (W, X) ∉ R
c. both (X, W) and (W, X) ∉ R d. (W,X) ∈ R but (X, W) ∉ R 3.
3.Three friends F1, F2 and F3 exercised their voting right in the general election-2019, then which of the
following is true?
a. (F1, F2 ) ∈R, (F2, F3) ∈ R and (F1,F3) ∈ R b. (F1, F2 ) ∈ R, (F2,F3) ∈ R and (F1, F3) ∉ R
c. (F1,F2 ) ∈ R, (F2,F2) ∈R but (F3,F3) ∉ R d. (F1, F2 ) ∉ R, (F2, F3) ∉ R and (F1,F3) ∉ R
49.If y = f(u) is a differentiable function of 𝑢 and 𝑢 = 𝑔(𝑥) is a differentiable function of 𝑥, then 𝑦 = 𝑓(𝑔(𝑥)]
is a differentiable function of 𝑥 and dy)d𝑥 = (dy/d𝑢) ×( 𝑑𝑢/ 𝑑𝑥) . This rule is also known as CHAIN RULE.
Based on the above information, find the derivative of functions w.r.t. x in the:

(i)Find cos √𝑥.

1
(ii) 𝐹ind 7𝑥+𝑥 .

1+cos𝑥
(iii) Fi𝑛𝑑 √ .
1−cos𝑥

50.A manufacturer produces three products x,y,z which he sells in two markets, Annual sales are indicated
below:
Market Product
𝐼 10000 2000 18000
𝐼𝐼 6000 20000 8000
(a) if unit sale prices of x,y and z are Rs. 2.50, Rs. 1.50 and Rs. 1.00, respectively, find the total revenue
algebra.
(b) if the unit costs of the above three commodities are Rs. 2.00, Rs. 1.00 and 50 paise respectively, find
the gross profit.

ASSIGNMENT (CHAPTER 1TO 6)

Q.1 An educational institution as well as a business organization both need to be managed. Which
characteristic of management is highlighted here?

Q.2 “In an organization, the employees are happy and satisfied, there is no chaos and the effect of
management is noticeable.” Which characteristic of management is highlighted by this statement?
(Intangible Force)

Q.3 In order to be successful an organization must change its goals according to the needs of environment.
Which characteristic of management is highlighted here? (Dynamic)
Q.4 Management is multi-dimensional. Give any 2 dimensions of it. (Work,

Q.5 Which features of management is highlighted when it is said that it is present in all types of
organizations and at all levels. (It is all pervasive).

Q.6 One of the objectives of management is to consistently create economic value for various constituents
of the society. Give two examples of this objective.
Q.7. Sana Ltd. is a company producing Fans. The company’s profits are enough for the survival and growth.
The management of the company believes that a satisfied employee creates a satisfied customer, who in
turn creates profits that lead to satisfied shareholders. So, it pays competitive salaries and perks to all its
employees. All the employees are happy working in the organization because of personal growth and
development. The company has a strong sense of social responsibility. It has set up an Engineering College
in which one-third of the students are girls to whom the company gives 50% scholarship. Is the management
of Sana Ltd. fulfilling its objectives? Justify your answer by giving reasons.
Q8. Give one feature of Profession (a) satisfied by management (b) not satisfied by the management.

Q.9 At which level of management, are the managers responsible for the welfare and survival of the
organization?

Q.10 Name the level at which the managers are responsible for implementing and controlling the plans and
strategies of the organization?

Q11. The activities involved in managing the enterprise are common to all organization whether economic
political or social. identify the feature of management
(a) Management multidimensional
(b) Management is all pervasive.
(c) Management is a continuous process
(d) Management is a dynamic function

Q12.Aprna and Priyanka are working in Shreya industries, a company dealing in readymade garments for
women. Each of them was assigned the responsibility of producing 10 dress each within 3 days at a cost of
1,000 per dress. Aparna was able to produce 10 dresses at a cost of 1,100 per dress within 3 days, whereas
Priyanka was able to produce only 8 dresses at a cost of 900 per dress in 5 days. Which of the following
statements is correct with respect to the above? (a) Aparna is efficient but Priyanka la effective. (b) Aparna
is effective but Priyanka in efficient. (c)Both Aparna and Priyanka are effective (d) Both Apana and
Priyanka are efficient.

Q13. Over the past five yours there has been an exponential increase in the number of people practicing
healthier lifestyle in India. Doctors and nutritionists are advising people in move the daily intake of soft
drinks as they are aerated, which can lead to obesity and other health issues. In order to cope up with the
setback in the demand from the consumers, "ENERGISE, a soft drink giant decided to introduce a tea brand
named SFUR-TEA and a wellness drink named 'FORTY PLUS for women. The company received a hearty
response from the consumers. Identify the feature of Management reflected in the above paragraph. (a)
Management is intangible. (b) Management is a dynamic function. (c) Management is a group activity. (d)
Management is multidimensional.

Q14.A buyer buys a product or service for what it does for him / her or the benefit it provides to him/her.
There can be three type of benefits, a consumer may seek to satisfy from the purchase of a product: (i)
Functional benefits, (ii) Social benefits and (iii)....................(A) Technological benefits (B) Psychological
benefits (C) Economic benefits (D) Environmental benefits
Q15"The process of organizing allows a business enterprise to accommodate changes in the business
environment. It allows the organization structure to be suitably modified to pave the way for a smooth
transition.'
The point of importance of organizing function of management highlight in the above lines is: (A) Benefits
of specialization B) Clarity in working relationships (C) Optimum utilization of resources(D)Adaptation
to change

Q16. Akshara runs a business in the name of 'AK Solutions' in a well reputed area of her city where people
provide spaces to students as library, as study centres and as training and event centres to businesses.
Akshara provides only conference halls to big and small enterprises for their meetings and events. Suddenly,
in July 2024, floods affected some libraries and study centres in her neighbouring area. The exams were
fast approaching and students were facing a lot of problems as these study centres and libraries had to be
closed. Taking advantage of this opportunity and to help the students of AK solutions adapted itself to the
needs of the environment they decided to convert some of their conference halls into libraries and study
centres. They also decided to provide food and other facilities required by the students at subsidized rates.
This initiative increased their business manifold and earned them significant goodwill. The feature of
management highlighted in the above case is: (A) Management is a continuous process. (B) Management
is an intangible force.
(C) Management is a dynamic function. (D) Management is a group activity.

Q17. Match the techniques of scientific management given in Column-1 with their meaning given in
Column-II:

Column-1 Column-II

(a) Method Study (i) It refers to the study of movements like lifting. putting objects, sitting and
changing positions etc. which are undertaken while doing a typical job.

(b) Motion Study (ii) It determines the amount and frequency of rest intervals in completing a
task.

(c) Time Study (iii) It determines the standard time taken to perform a well defined job.

(d) Fatigue Study (iv) It determines one best way of doing a job.

Choose the correct option from the options given below:

(a) (b) (c) (d)

(A)(ii) (iii) (1) (iv) (B) (1) (iv) (ii) (iii)

(C)(iv) (1) (iii) (ii) (D)(iii) (ii) (iv) (1)
Q18. Given below are two statements, Assertion (A) and Reason (R):
Assertion (A): Planning involves looking ahead and preparing for the future.
Reason (R) :The purpose of planning is to meet future events effectively to the best advantage of an
organization.
Choose the correct alternative from the alternatives given below:
(A) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

(B) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion
(A).
(C) Assertion (A) is true, but Reason (R) is false.
(D) Assertion (A) is false, but Reason (R) is true.
Q19 Choose the statement that correctly highlights the benefit of using internal sources of recruitment.
(A) It helps in simplifying the process of selection.
(B) It provides wider choice while selecting the employees.
(C) It brings new blood in the organization.
(D) It is an expensive and time consuming source.
Q20. 'Answerability for outcome of the assigned task' is called:
(A) Decentralization (B) Authority (C) Responsibility (D) Accountability
Q21. Read the following statements carefully:

Statement-I: Staffing is that part of the process of management which is concerned with obtaining, utilizing
and maintaining a satisfied and satisfactory workforce.
Statement-II: Staffing is a continuous process.
In the light of the given statements, choose the correct alternative from the following:

(A) Both the Statements are true. (B) Both the Statements are false. (C) Statement I is true, but
Statement II is false. (D) Statement II is true, but Statement I is false.
Q22. Kavi works as a Marketing Manager in stationery mart. It deals in various types of stationery items
for many schools across the country. When new session starts in schools, Kavi forecasts the sales of
different stationery products for each school for every month. All items are represented in numbers so that
it becomes easier for him to compare the actual sales with expected sales.The type of plan discussed above
is:
(A) Strategy(B) Policy(C) Programme(D) Budget
Q23. It is the process of designing and maintaining an environment in whic individuals, working together
in groups, efficiently accomplish select aims.' Identify the process.

(A) Management (B) Organising (C) Staffing (D) Directing

Q24. (a) Explain the following principles of management given by Fayol: (a)Equity (b) Initiative

Q25.Explain the following points of significance of principles of management:(1) Meeting changing

environment requirements (ii) Management training, education and research

Q26.Explain the following features of co-ordination: (i) Co-ordination is an all-pervasive function. (ii) Co-
ordination is a deliberate function.

Q27 'Management is multidimensional' is one of the features of management. Explain its following
dimensions:

(1) Management of work. (ii) Management of people.

Q28. Prachi is working as an academic counsellor for specially abled students at one of the top school to
provide special support and guidance to these students. She clearly states in advance the methods of
teaching and tackling the students. She ensures that the goals are clearly stated for each and every teacher
so that they act as a guide for deciding what action should be taken and in which direction. Her well laid
plans will serve as a basis for coordinating the activities and efforts of teachers teaching different subjects
to these students. It helps the teachers in bringing clarity of thought and action to their work.Identify and
explain the two points of importance of 'Planning' function of management highlighted in the above para.

Q29. Nisha had given some old dresses of her own to her house-helper Beenu. After a few days, Nisha was
happily surprised when she saw Beenu wearing one of the dresses beautifully refurbished. On enquiry,
Beenu told Nisha that this was done by her daughter who had just completed her Class 12th studies. Beenu
also told Nisha that she was a little concerned as her daughter did not want to study further. (Nisha was
very much impressed by the creativity of Beenu's daughter, so she decided to setup a small business for
her. Nisha bought 15 sewing machines and appointed 15 girls to refurbish the old dresses. Nisha also
arranged old dresses from various sources and employed a person who will sell these dresses at a very low
cost for the one's who could not purchase new dresses due to their low income. Nisha divided the girls in
three equal groups, each having five sewing machines. Each group was given a target of refurbishing 150
old dresses in a fortnight with a cost of Rs. 30 per dress. After a fortnight, Nisha who was supervising this
business with Beenu was informed that Group I was able to meet the target by refurbishing at Group 160
old dresses at a cost of Rs. 30 per dress. Group II was able to refurbish 150 old dresses at a cost of Rs. 35
per dress, whereas Group III could refurbish only 140 old dresses but at a cost of Rs. 27 per dress. (1)
Identify the concepts of management discussed above for each of the three groups giving reason in support
of your answer. (ii) Give meaning of the concepts identified in (i) above and state which one is important
for the management and why?

Q30. (a) Explain the following steps in the process of staffing:(1) Placement and Orientation (ii) Training
and Development (iii) Performance Appraisal (iv) Promotion and Career Planning OR Explain the
following non-financial incentives: (1) Career Advancement Opportunity (ii) Employee Recognition
Programmes (iii) Job Security (iv) Employee Empowerment
Q31. Give meaning of 'Formal Organization. State any five features of formal organization.
Q32. Differentiate between Functional Structure and Divisional Structure' of organization on any six bases.
Q33. The students of Class XII of 'NK Senior Secondary School' visited the factory of 'Jaipur Exports
Private Limited', a company manufacturing readymade garments. They observed that different workers
were allocated different tasks like cutting the fabric as per specification, stitching dresses, putting buttons,
ironing the finished dresses, packing them and putting labels. The Chief Executive Officer told the students
that this results in efficient and effective output. They also observed orderliness in the factory as there was
a fixed place for everything and it was present there. The students later discussed with their Business Studies
teacher and understood that principles of management given by Fayol were being followed in the factory.

Q34.Explain “Apprenticeship programme” as a method of training? Explain 5 benefits of training to the

organization ?
Q35.State any four benefits of using external sources of recruitment?
Q36.State any four type of tests that may be used for selection of employees?
Q37. Explain any three points that highlight the importance of coordination?
Q38. Explain the following principles of management given by Taylor:

(i) Science, not Rule of Thumb(ii) Harmony, not discord(iii) Development of each and
every person to his or her greatest efficiency and prosperity
Q39. The Government of India in its budget for the financial year of 2021-22 reiterated its support for
Electric Vehicle sector. The Government launched several schemes and incentives to boost their demand
as well as to motivate manufacturers to invest in the same. Inspired by these incentives and concerned
/about the environmental impact of gas and diesel-powered engines, Nitin Kothari has set up an electric car
manufacturing unit at Bhilwara. He set a target of earning Return On Investment of 10% In the first year
itself and forecasted that the demand for electric cars will increase by 20 million in the next few years. The
above case highlights the first two steps of the process of one of the important functions of management.
(a) Identify the function of management discussed above. (b) State the remaining steps required to complete
the above process.

Q40. Planning is important as it provides directions for action, reduces the risks of uncertainty and
facilitates decision making' Explain.
Q41. Delegation of authority Develops employees', motivates them' and Facilitates growth.' Explain how.

Q42 Identify and state the type of test in the selection process that measures the potential of an employee
for learning new skills.

Q43. Frequent transfer of employees often reduces the productivity of the organisation, still it is being used
as a good source of filling the vacancies internally. Why? State any two reasons.

Q44. Hemant is working as a Human Resource Manager in AO chain of hospitals in Mumbai. He had to
appoint nurses for the hospitals. For this, he has conducted various tests and interviews and verified the
information of the applicants. The final decision has been made in consultation with the heads of the nursing
department. Hemant still has to take some more steps to complete the process of appointment of nurses.
Name and explain these steps.

Q45. Name and state the process which is job-oriented and is used to increase the skills and abilities of
employees to perform a specific job.
Q46. Three friends, Aman, Ashish and Ashi after completing their MBA from a reputed management
institute, formed a startup named 'Solutions'. The goal of the startup was to make a social and environmental
impact through its services. 'Solutions' supports social business ideas to improve living conditions in slums
of Mumbai. As all the three friends are specialised in social work, they adopted three different slums of
Mumbai and started educating the slum dwellers in their own creative manner. Aman used 'playway
method', Ashish used 'music' as a method of learning while Ashi used 'activity-based method of learning'.
They used basic knowledge in their unique manner and were able to educate the slum dwellers.It implies
that skillful and personal application of acquired knowledge varies from individual to individual in
achieving desired results.(a) Identify and state the nature of management discussed in the above case. (b)
Quoting lines from the above para, state any two features of nature of management identified in (a) above.

Q47. The rapid changes having taken place in the society have created pressure on organisations to readapt
its products, type of jobs required and type of skills necessary to complete these jobs. To keep up pace with
the rapid changes in the business environment, 'Suzon cars', a company manufacturing automobiles for the
last thirty years decided to start manufacturing electric cars with Artificial Intelligence technology. With
the introduction of Artificial Intelligence, the company had to improve the knowledge and skills of its
employees. They wanted that all their employees improve their performance on the current job and are
prepared for any intended job in future. This way they would not only be able to increase their knowledge
and skills but would also improve their performance. By doing this, the organisation too would get various
benefits.(a) Identify the concept discussed above which would help the employees to do the job in a better
way using Artificial Intelligence Technology.(b) State any five benefits of the concept identified in (a)
above to the organisation.

Q48. Ankur Sachdeva did his MBA from Taiversity. He decided to apply his knowledge of scientific
management in the fast food restaurant chain Coffee Bean' set up by him. This restaurant was providing
burgers, fries, shakes etc, a part of its menu.Now a days people are quality conscious, so he was using
standardised raw materials, processes, methods, working conditions, machinery etc. The objective was to
establish standards of excellence. By doing this he was not only able to reduce the cost but was also able to
provide new varieties of burgers, fries and shakes leading to increased turnover.Ankur Sachdeva also
believed that there was only one best method to maximise efficiency. As a result he developed best way of
grilling burgers, cooking fries and preparing shakes, His main objective was to maximise the satisfaction
of customers, which he was able to achieve.Not only to learn the best way of doing a job, but to perform
their tasks efficiently, 'Coffee Bean' regularly invests in training and development programmes to equip
employees with the necessary skill and knowledge, 'Coffee Bean' believed that efficient employees will
produce more and earn more. This will ensure their greatest efficiency and prosperity for both company
and workers.The above case highlights the use of Scientific principles and techniques by 'Coffee Bean'.
Explain any one such principle and two techniques.

Q49. Q. Preeti started her own cooking channel on Youtube Mood Art'. As her subscribers increased, she
was not in a position to manage everything on her own. She hired Rahul and Riya to help her with filming
editing, lighting and content research. She granted authority to them to operate within prescribed limits.
She was thus, able to use her time on high priority activities like developing new recipes and content
development etc. As a result, Rahul and Riya were given opportunities to develop and exercise initiative.
Preeti was now able to focus on objectives and meet the target of achieving a subscriber base of one million
in six months.(a) Identify the concept of management used by Preeti to focus on objectives of her business
and meet her targets.(b) Explain any five point of importance of the concept identified (a) above.

Q50. 'Good Looks Ltd.' are the manufacturers of cosmetics. The company enjoyed a pre-eminent position
in the business and has grown in size. Till recently the company had been doing good business; but after
the entry of competitors the market share of 'Good Looks Ltd. has declined. One of the reasons for this was
that all decisions were taken by the higher management. This has resulted in the concentration of all
decision-making process at the apex of the management hierarchy. Worried about the decline in market
share and profit, the company appointed 'Structures Consultants India Ltd.' as a consultant to suggest
improvements in the organization’s decision-making process. The consultant suggested that the decision-
making responsibilities may be divided among hierarchical levels. They said that if decision-making
authority will be shared with the lowest levels and is consequently placed near the point of action, it will
help in quick decision-making and this will help the company in adapting itself to the dynamic operating
conditions. They stated that the philosophy of dispersal of authority propagates the belief that people are
competent, capable and resourceful and can assume the responsibility of effective implementation of their
decisions.(a) Identify and give the meaning of the concept based on which 'Structures Consultants India
Ltd.' gave their recommendations to 'Good Looks Ltd.'.(b) Explain any four points of importance of the
concept identified in (a) above.

ASSIGNMENT (CHAPTER 1 TO 3)

Q1."The business of partnership firm can be carried on by all the partners or any one of them acting for
all. This statement indicates which of the following characteristic of partnership?
(A) Agreement(B) Implied authority(C) Mutual agency(D) Utmost good faith

Q2. Shivam is manufacturing hair straightening flat irons and supplying them to various beauty salons
across the city. Over the last few months he observed that the sale of flat irons has decreased drastically.
He tried to find out the reason. He found that the hair experts have started recommending ceramic irons
which are now being sold by competitors in the market. So, he also started manufacturing ceramic irons
based on new technology with added features like curling, crimping, etc.Identify the source of idea field
used by Shivam:(A) Trading Related ideas(B) Existing Products or Services-Based ideas(C) Service
Sector ideas(D) Market Driven or Demand Driven ideas.

Q3. In this method of pricing, goods are sold at higher prices so that fewer sales are needed to break even.
It also helps the company in recovering the research and development costa which are associated with the
development of a new product.This method of pricing is(A) Penetrating pricing(B) Cost-plus pricing(C)
Variable pricing(D) Creaming pricing
Q4. Look at the given picture and state what it represents out of the following: State Bank of India
(A) Logo (B) Brand (C) Brand name (D) Tagline
Q5.Which of the following is not included in 'below-the-line' method of promotion?
(A) Personal selling(B) Direct marketing(C) Sales promotion(D) Advertising
Q6. Sudershan has undergone skill development training for maintenance of electronic items, from an
institute started under the 'Skill Development Mission' by the Government of India. He wants to start his
own small business in his locality with 1,00,000 given by his father as capital. He himself wants to
manage and control this business, employing some assistants, if required. Out of the following, suggest
the form of business organisation he can adopt.
(A) Public Limited Company (B) Private Limited Company (C) Partnership (D) Sole Proprietorship

Q7. A business opportunity can be described as an economic ides which can be implemented to
create................... and earn profits. (A) customers (B) competitors (c) a business enterprise (D) an
economic environment

Q8. Match the given components of a Business Plan in Column I and their meaning in Column II. Choose
the correct option from the options given below

Column I Column II
(Business Plan) (Meaning)
(1) Production Plan (i) That part of the business plan that describes the
proposed venture's form of ownership.

(2) Operational Plan (ii) That part of the business plan where transformation of
raw material into finished product takes place with the help of energy, capital, manpower and machinery,

(3) Organizational Plan (iii) That part of the business plan which organises for the
movement of material, performance of machines and operations of labour into a defined direction.

(4) Marketing Plan (iv) That part of the business plan which provides guidelines
regarding the marketing objectives, strategies and activities to be followed by the new enterprise.
Options:
(A) (1)-(iv), (2)-(i), (3)-(iii), (4)-(ii)
(B) (1)-(ii), (2)-(iii), (3)-(i), (4)-(iv)
(C) (1)-(1), (2)-(iv), (3)-(ii), (4)-(iii)
(D) (1)-(iii), (2)-(ii), (3)-(iv), (4)-(1)

Q9. 'Payal Ltd. is the manufacturer of high end costly water purifiers. Their water purifiers are unique
and different from the purifiers available in the market. For its marketing they appointed salespersons
who will go door-to-door and explain the unique features of their product.From the following, identify the
channel of distribution adopted by Payal Ltd.:
(A) Three-Level Channel(B) Two-Level Channel(C) One-Level Channel(D) Zero-Level Channel
Q10.Patents............................................

(1) grant an inventor the right to exclude others from making, using, selling, offering to sell, and
importing an invention for a limited period of time, in exchange for the public disclosure of the invention.
(ii)give the creator of the original work exclusive rights, usually for a limited period.

(iii)are a recognizable sign, design or expression which distinguishes products or services of a particular
trade from the similar products or services of other traders.

(iv)protect the visual design of objects that are not purely utilitarian. It can be a two or three dimensional
pattern used to produce a product.
Choose the correct option from the following:

(A) (i) only (B) (i) and (ii) (C) (iii) and (iv) (D) (ii) and (iii)
Q11.A brand or a part of a brand that is given legal protection against its use by other firms is called

(A) Brand name (B) Brand mark(C) Trademark (D) Logo

Q12. Read the following statements: Assertion (A) and Reason (R).

Assertion (A): It is not compulsory to register a partnership firm as there are no penalties for non-
registration.

Reason (R):An unregistered partnership firm can file a suit in any court against the firm or other partners
for enforcement of any right arising from a contract or right conferred by the Partnership Act.
Choose the correct option from the options given below:

(A) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion
(A).

(B) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of
Assertion (A).
(C) Assertion (A) is true, but Reason (R) is false.
(D) Assertion (A) is false, but Reason (R) is true.
Q13. Which of the following examples is not a part of the social environmental factor?

(a) At the time of Holi, a large mumber of manufacturing firms get involved in making colours which are
used in the celebration of this colourful festival

(b) A particular channel refrains from showing the advertisement of a particular product as it is banned by
the government.

(c) The sale of sarees increases in the months of the year when a large number of marriages take place in
India. The saree manufacturing companies take special plans of sale for these months
(d) (a) and (c) only

Q14 Ramesh starts his day by reading all newspapers and has a keen interest towards all business news
and articles. He connects the articles with the observations he has made over the years which he knows
will eventually lead to business-boosting insights. Identify the way of trend spotting at this level
(a) Read trend (b) Watch trend (c) Think trend (d) Talk trend
Q15 Which of the following statements correctly explains the concept of creative efforts?
 (1) Develop and improve an existing or new product or service. (ii) Compete with an existing
product or service (iii) Find a new process or resource for manufacturing a product
(a)both (i)and (iii) (b) both (ii)and (iii) (c)only (i) (d) all of these

Q16. Sohan started a small scale business of manufacturing and marketing pickles named the same as
Desi Achar He supplied the pickle in the whole city.Now, he wants to expand his business in other cities.
He discussed the same with his father, who suggested to Sohan to property look into those conditions and
forces which are external to a business under which it operatesOn his father's suggestion, Sohan carefully
monitors the Internal and external environment for detailing early signs of opportunities and threats that
may influence its current and future plans. Sohan's father suggested to him about (a) image building (a)
problem solving(c) environment scanning (d) tapping useful resources

Q17 VM Ltd is a leading mobile phones manufacturer in India. The company decided to launch a new
model which will have inbuilt software for hands-free use and enhance the customer experience through
3D photos.They are also looking into ideas to use eco-friendly recyclable materials for the body of the
phones that may cause negligible damage to the environment. Identify the factor of the PESTEL model
discussed here(a) social and political (b)ecological and technological (c)economic and social (d)legal and
economical
Q18. Assertion (A) A male member becomes a member of HUF by merely taking birth in a family
Reason (R) HUF does not arise by status or operation of Hindu Law
Choose the correct option from the options given below:

(A) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion
(A).

(B) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of
Assertion (A).
(C) Assertion (A) is true, but Reason (R) is false.
(D) Assertion (A) is false, but Reason (R) is true.
Q19 Assertion (A) A sole proprietorship does not need to be registered
Reason (R) Therefore, it is an expensive manner of commencing business
(a) Assertion (A) is correct, but Reason (R) is Incorrect
(b) Assertion (A) is incorrect, but Reason (R) is correct
(c) Both Assertion (A) and Reason (R) are Incorrect
(d) Both Assertion (A) and Reason (R) are correct

Q20 Assertion (A) A company which is suffering huge losses can be shut down only by following the
procedures laid down in Companies Act
Reason (R) A company can be born as well as liquidated only by law
(a) Assertion (A) is true, but Reason (R) is false
(b) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion
(A)
(c) Assertion (A) is true and Reason (R) is the correct explanation of Assertion (A)
(d) Both Assertion (A) and Reason (R) are false

Q21. Match the following characteristics of a joint stock company as given in Column I with their
meanings as given in Column 11.
Coloumn I Coloumn II

A. Artificial person (i)It has an independent status separate from its

members.

B Separate legal entity (II) The liability of the shareholders is limited to the
extent it of the amount of shares held

C. Limited liability (iii) It can be terminated as per the Companies

Act.

D Winding up (iv) It la created by law and has a distinct

personality of its own
Codes

A B C D

(a) Iv i ii iii
(b) I ii iii iv
(c) Iv iii ii i
(d) Iii iv ii i
Q22.................................. is defined as, a process that can allow an organisation to concentrate its
resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable
competitive advantage"

Q23 ............................... is the mixture of controllable marketing variables that the firm uses to pursue the
sought level of sales in the target market.

Q24 A.......................................... in either a tangible or an intangible offering that is required to satisfy the
needs and aspirations of a consumer
Q25. 'Maggi' is an example of........................
Q26. What is a 'Business Opportunity. List any two elements of Business Opportunity.

Q27. Various factors are involved in sensing opportunities. 'Ability to perceive and preserve basic ideas'
is one of them. Identify and state any four sources that lead to the emergence of basic ideas.

Q28.Manorama opened a retail outlet in Bengaluru selling readymade fashionable garments like t-shirts,
skirts, kurtis, etc. for girls. Her decision was based on recent trends in clothing of young girls.Since
fashion changes very fast in the garments business, Manorama not only wanted to understand the business
environment but also wanted to adapt it to succeed in the long run. So, she monitored fashion trends
through social media and introduced sustainable clothing.A keen watch on the trends in the environment
had sensitized Manorama to the changing needs of customers.By doing this, Manorama is concentrating
on one of the points of importance of environment. (a) Identify the point of importance of environment
discussed above. (b) Explain with the help of one more point how sensitivity to environmental factors in
crucial for an entrepreneur. pro

Q29.Deepa, Guddi and Vani are partners in a firm sharing losses in the ratio of 3: 2:1 Deepa wants to
transfer half of her share in favour of her son Deepak without the consent of Guddi and Vani Can Deepa
transfer her share? Give reason in support of your answer. State the feature of partnership highlighted in
the above case.

Q30. Aruna, passionate about baking, opened a bakery shop. She borrowed 50.000 from her father and
took a loan of 1.00.000 from a bank to start the business. To attract customers, she set the prices too low.
Later on she noticed that the revenue earned by her was not enough to even cover the costs. When the
loan amount became due, she was not in a position to pay. The bank recovered the loan from Aruna's
personal assets, including her savings and property.Can Aruna's personal property be called upon to pay
her business debts? Give reason in support of your answer. State the feature of sole proprietorship
highlighted in the above case.
Q31. After completion of his training of cutting, tailoring and embroidery from a skill development
institute, Sujit wanted to start his own business. He discussed this idea with his mother who advised him
to identify the new trends in this area. She also advised him to take the help of professional trend spotters
for this. When Sujit contacted some of the best professional trend spotters, he found that their fee was too
high. So he decided to do this work himself, started reading the leading publications and visited websites
related to the type of business he wanted to start. This way he was able to spot related trends.Identify and
explain the method used by Sujit to spot the trends. Also list two other ways in which trends can be
spotted.
Q32. Explain 'A pitch deck with oral narrative' as a format of a business plan.

Q33. Carefully identifying the product or service features, design, as well as the resources that will be
needed is an element in the innovation process. Explain its other three elements.

Q34.The process of creativity involves various steps. One of the steps is related to transition period,
where the entrepreneur starts thinking about the idea and implementation in his subconscious mind'.
Explain the next three steps followed by this.

Q35. Golden Ice Cream Limited is a manufacturer and supplier of ice crea They set the price of their
various ice cream varieties based on manufacturing estimates. The company had been earning good
profits over the last many years as there were no competitors in the market for their ice creams. However,
during the last year, the company incurred heavy losses. On investigation they noticed that while setting
the prices, they did not take into account the actions of competitors, which may have led to these losses.
Additionally, the pricing method used by the company includes sunk cost and ignores opportunity costs.

(a) Identify the pricing method used by the company.(b) Explain any two advantages of the pricing
method identified in (a) above.

Q36. Explain any three product-related considerations to be used by an entrepreneur while selecting the
channel of distribution.
Q37. Explain above-the-line' promotion strategy used by a company to promote its products.

Q38. Bharat Ltd. is a manufacturer of electronic items. In 2022-23, the company decided to enter into
manufacturing Artificial Intelligence-based computers. Being highly complex and tedious, the
manufacturing process of these computers needed to be thoroughly planned.(a) Identify the component of
business plan discussed in the above paragraph.(b) State the objective of the component identified in (a)
above.(c) List five points that are needed to be described in this component of business plan, if the
manufacturing is to be carried out in whole by 'Bharat Ltd.'.

Q39. "Good Air End" is the manufacturer of different types of electric fans like ceiling fans, table fans,
exhaust fans, etc. It wanted to start its operations in the recently clarified rural areas ahead of its
competitors. It invested in research and development to adopt new things so that it could produce energy
efficient fans at lower cost. The government was stable for the last many years and was focusing on
electrification of rural areas. 'Good Air Ltd take advantage of this and started its operations. The
company compiled with health and safety regulations, as well as environmental protection laws to ensure
customer safety. As its policy, the company also mention to t customers in case of an injury or accident
due to its fans. Since the disposable income of the people in rural areas was low the company offered an
instalment scheme, making its products ore accessible to them. Committed to sustainability, the company
ensures that its production causes in minimum environmental damage. For this, it focuses on reducing
waste by recycling production by-products and using biodegradable packaging materials whenever
possible.Quoting lines from the above text, identify five macro environmental factors that the company
took into consideration while operating its business.

Q40. Jai Prakash Ltd., was running into losses for the past few years. The company appointed a
consultant to look into the reasons for the loss. The consultant after analysing everything framed a sales
strategy which helped the sales force spend time targeting the correct customer at the right time. This
helped the company to revive their profits within a few months. Explain the types involved in this
strategy.
Q41. Differentiate between trade mark and brand mark. Analyse the purpose of Logo.
Q42. State by giving any three points how direct channel distribution is helpful to producers.
Q43.What is meant by a 'Sales Strategy? State how a successful sales strategy helps the sales force.

Q44, Mukesh and Saurabh had been friends for a long time. The friends shared a common interest in
computer technology Mukesh had done some software design and computer work his own for neighbours
and family friends. It wasn't long before he realized that there was a demand for small business to have
affordable computer consultants. He decided to s a business. Mukesh discussed his venture with Saurabh
and asked him if he would like combine capital and take an active role in the business with him. Both
Mukesh and Saurabh are equally responsible for the businesses' risks and rewards. (a) Which form of
business did Mukesh and Saurabh start with? (b) Which type of business activity are they both engaged
in?
Q45. Name the factors which affect the operation plan. Write the steps in preparing a marketing plan.
Q46. You are Ravi and you have planned to start manufacturing a new brand of chocolates aiming
teenagers. Your company 'Delight' has already been manufacturing and selling biscuits since 2010. The
success of biscuits has encouraged you to move ahead into the chocolate industry. Keeping in mind the
steps involved in preparation of the marketing plan draft a marketing plan explaining the first three steps.
Q47.Explain the investment decision under the financial plan? In which areas should the investment be on
the basis of priority?

Q48. Innovation is the process of entrepreneurship. With reference to this statement, explain the meaning
of innovation and the elements of this process.

Q49 "An opportunity may be derived from the needs and problems of the society". Comment. What
values are fulfilled by the entrepreneur?

Q50.Why is trend-spotting important for the success of any business? Explain the four ways in which an
entrepreneur spots trends.