OCM October 2014 paper with solution

OCM October 2014 with solution

Q1. A. Select the proper option from the options given below  and rewrite the sentences:: (5)

1. The maximum number of member is a private company are ___________

a. 50

b. 40

c. 20

2. The Principle of indemnity is not applicable to ____________

a. life insurance

b. marine insurance

c. fire insurance.

3. For online transaction __________ is required.

a. trading

b. registration

c. business

4. To maintain industrial peace is the responsibility of business organisation towards ___________

a. customers

b. employees

c. society

5. F.W. Taylor is called the father of _____________ management.

a. modern

b. scientific

c. technical.

B. Match the correct pairs: [5]

Group 'A'	Group 'B'
a. Common seal (4)	1. Related with human factors
b. Bonded Warehouses (7)	2. Located at railway station
c. B to C (6)	3. Business to Business
d. Mumbai Grahak Panchayat (10)	4. Joint Stock Company
e. Staffing (1)	5. Political organisation
	6. Business to consumer
	7. Located within the ports
	8. Partnership firm
	9. Related with financial factor
	10. Non – Government Organisation working for consumers.

C. Write a word or a phrase or a term which can substitute each one of the following statements: [5]

1. ‘One man shoe’ type of business organization.

Ans. Sole trading concern.

2. A set of Principles of right conduct.

Ans. Business ethics

3. A consumer dispute redressal agency that handles claims up to rupees twenty lakhs (Rs. 20,00,000)

Ans. District Forum

4. The principle of management which says ‘unity is strength’.

Ans. Principle of Esprit de corps

5. A process where managers instruct, guide, and communicate with employees.

Ans. Directing function of Management.

Q2. Distinguish between the following (Any Three) [15]

1. Private company and Public Company

2. Water transport and Air transport.

3. District forum and National commission.

4. Organising and Staffing.

5. Joint Hindu Family Firm and Sole Trading Concern.  

Q3. Write short notes on Any Three of the following: [15]

1. Disadvantage of e – business.

2. Social responsibility of business organisations towards consumers.

3. Techniques of scientific management.

4. Importance of coordination.

5. Functions of an entrepreneur.

Q4. State with reasons whether the following statements are True or False. (Any Three) [15]

1. Planning has vital importance in the management process.

2. Business ethics is not applicable to all business organisations.

3. A Joint Stock Company can raise huge capital.

4. The principle of indemnity is applicable to life insurance.

5. Consumer Protection Act is a blessing for the consumers.

Q5. Attempt the following. (Any two) [10]

1. State the types of cooperative societies.

2. State the steps involved in online transactions.

3. State the ways and means of consumer protection.

4. Stat the importance of principles of management.

Q6. Define a Sole Trading Concern. Explain its merits and demerits.  [10]

OR

Define Bank. Explain different types of banks.

OCM  IMPORTANT QUESTION FOR BOARD EXAM 2018 [ALMOST 99.99% SURE QUESTIONS]

Distinguish between the following (Any Three) [15]

Bonded warehouse and Duty Paid warehouse.

Co - operative Society and Joint Stock Company

Co - Operative Society Joint Hindu Family Firm.

Cooperative society and Partnership firm.

Coordinating and Controlling.

Current Account and Fixed Deposit Account.

Current Account and Savings Account.

District forum and National commission.

District Forum and State Commission

Joint Hindu Family firm and Joint Stock company.

Joint Hindu Family Firm and Sole Trading Concern.  

Organising   Directing

Organising and Coordinating.

Organising and Staffing.

Partnership and Joint Stock Company.

Planning and Controlling.

Planning and Organizing.

Private company and Public Company

Road transport and Rail transport

Road Transport and Water Transport

Savings account and Fixed Deposit Account.

Sole trading concern and Partnership firm

State commission and National Commission

Water transport and Air transport.

Write short notes on Any Three of the following

Advantages of e - business.

Advantages of outsourcing.

Any ‘five cases’ (needs) of social responsibilities of business.

Any ‘five types’ of banks.

Any ‘five’ principles of management.

Disadvantage of e – business.

Elements of business ethics.

Features/Nature of Joint Hindu Family Business.

Features/Nature of a Joint Stock Company.

Merits and limitations of air transport.

Features/Nature of co-operative society.

Features/Nature of sole trading concern.

Functions/Nature of a Warehouse.

Importance of Directing.

Importance of coordination.

Importance of organising.

Importance / significance of principles of management.

Importance of staffing.

Merits of Co - operative Society.

Nature of principles of management.

Principles of Insurance.

Rights of consumers.

Role of Transport.

Social responsibility of business organisations towards consumers.

Techniques of scientific management.

Types of partners.

State with reasons whether the following statements are True or False. (Any Three) [15]

Business ethics is not applicable to all business organisations.

A Joint Stock Company can raise huge capital.

Business organisation does not have various types of social responsibilities.

Business organisation is not responsible to control pollution.

Business should not disclose their records to investors.

Cash can be withdrawn from ATM at any time.

Co - operative society differs from other forms of commercial organisations.

Consumer Protection Act is a blessing for the consumers.

Coordination is needed at all the levels of management. [True]

E-business allows you to work across the globe in any field.

In India Consumer Protection Act is not required.

In partnership the liability of partners of a firm is unlimited.

It is easy to set up e – business as compared to traditional business. [True]

Lok Adalat' is one of the effective ways to resolve consumer problems.

Management should avoid workers' participation while making decisions.[False]

Maximisation of profit is the object of a co-operative society.

Maximum number of members in a Joint Hindu Family Firm is 20.

Planning has vital importance in the management process.

Post offices provide money remittance services.

Principles of management are rigid.

Principles of management improve the efficiency of employees.

Reserve Bank of India cannot accept deposits from public.

The Consumer Protection Act was passed in the interests of the sellers.

The ownership and management is not separated in a Joint Stock Company.

The principle of indemnity is applicable to life insurance.

Training broadens the vision of entrepreneurs.

Transport is useful in raising standard of living. [True]

e- business means using the internet to connect people and processes.

Attempt the following. (Any two) [10]

Explain the characteristics of an entrepreneur.

State any 'five principles' of management given by Henry Fayol.

State social responsibilities of business towards government.

State the  principles of Scientific Management.

State the advantages of Road Transport.

State the characteristics of Entrepreneurship.

State the factors motivating the entrepreneur.

State the features of sole trading concern.

State the functions of an Entrepreneur.

State the importance of consumer protection.

State the importance of controlling.

State the importance of principles of management.

State the registration procedure for a partnership firm.

State the responsibilities of business towards employees.

State the responsibilities of consumers.

State the right of consumers.

State the social responsibilities of a business towards consumers.

State the steps involved in online transactions.

State the types of cooperative societies.

State the ways and means of consumer protection.

State the working of a Payment Gateway.

ANSWER IN BRIEF [ANY ONE] (10)

Define 'insurance'. Explain the various principles of insurance.

Define 'joint stock company'. Explain its merits and demerits.

Define Bank. Explain different types of banks.

Define Co - operative Society. Explain merits and demerits of Co - operative Society

Define Fire Insurance. Explain the various types of fire Insurance Policy.

Define Joint Stock Company and explain its features

Define Life Insurance. Explain the types of Life Insurance Policies.

Define a Sole Trading Concern. Explain its merits and demerits.  

Define a partnership firm. Explain its merits and demerits.

Define commercial bank? Explain its primary functions.

Define ‘ Controlling’. Explain its importance.

Define ‘Planning’. Explain its importance.

What is organising? Explain the nature of organising.

OCM IMPORTANT DISTINGUISH BETWEEN FOR BOARD EXAM 2018

OCM IMPORTANT SHORT NOTES FOR BOARD EXAM 2018

OCM IMPORTANT SHORT NOTES FOR BOARD EXAM 2018

OCM IMPORTANT TRUE OR FALSE WITH REASONS

OCM ANSWER THE FOLLOWING IMPORTANT FOR BOARD EXAM 2018

OCM ANSWER IN BRIEF IMPORTANT FOR BOARD EXAM 2018