OCM IMPORTANT PAPER FOR FEB 2015 BOARD EXAM

Q.1 (A) FILLS IN THE BLANKS                                                                                                                                                                                                                                  5 MARKS

1. A sole proprietor is the _______form of organisation. (private sector, public sector, none of)
2. The costliest means of transport is ______ (Air transport , Rail transport, Water transport)
3. Environment management system is mandatory in ________ (USA, India, China)
4. Business is a _______activity. (socio-economic, service, profit making)
5. 13 functions of an Entrepreneur were enumerated by ______(Kilby Peter, J.Scumpter, R. Cantilon)

(B) MATCH THE PAIRS                                                                                                                                                                                                                                  5 MARKS

GROUP A	GROUP B
Private Company Public Company Common Seal Registration of a company Government Company	Compulsory Minimum 7 Members Maximum 50 Members Symbol of a company 51% share capital 61% share capital

               (C) GIVE SUITABLE ONE WORD WHICH SUIT TO THE BELOW QUESTION                                                                 5 MARKS

1. An activity motivated by profit.
2. A consumer dispute redressal agency that handles the claims above Rs 20 lakhs up to 1 Crore.
3. Father of Modern Management.
4. A function of creating something new for an economic activity.
5. The account suitable for salaried people.

Q.2 WRITE SHORT NOTES ANY THREE OUT OF FIVE (30 MINUTES)                                                                                              15 MARKS

1. Consumer Rights.
2. Features of Co-ordination.
3. Importance of Consumer Protection.
4. Consumer Responsibility
5. Payment Mechanism

Q.3 DISTINQUISH BETWEEN ANY THREE OUT OF FIVE (30 MINUTES)                                                                                                        15 MARKS

1. Manager V/S Entrepreneur
2. District forum V/S State Commission
3. Life Insurance V/S Fire Insurance
4. Saving Account V/S Fixed deposit Account
5. Commercial Bank V/S Central Bank

Q.4 TRUE OR FALSE WITH REASON ANY THREE OUT OF FIVE (25 MINUTES)                                                                           15 MARKS

1. Taylor called father of scientific management.
2. Road transport provides door to door service.
3. Business Ethics can be considered as a tool for social development.
4. Overdraft facility is provided to Current Account Holder.
5. The principles of indemnity apply to Fire Insurance.

Q.5 ANSWER THE FOLLOWING ANY TWO OUT OF FIVE (20 MINUTES)                              PAPER                              10 MARKS

1. Types of Mail Service.                                                                                                                                                                                         2
2. Need for Social Responsibility.
3. Role of Transport.
4. Types of Life Insurance Policy
5. Responsibility of commercial organization towards Consumer.

Q.6 ANSWER IN BRIEF ANY ONE OUT OF TWO (20 MINUTES)                                                                                                                         10 MARKS

1. Define Sole Trading Concern? Explain its advantages and disadvantages?
2. Define Co-operative Society? Explain its Merits and Demerits?