OCM March 2015 Board Paper with Solution.

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

1. Indian Partnership Act was passed in the year  ___________

a. 1932

b. 1923

c. 1942

2. In India railways are owned and managed by _____________

a. Private Companies

b. Government

c. Individuals

3. Staffing is concerned with ____________.

a. Physical factor

b. Financial factor

c. Human factor

4. Businessmen are ___________ of the society.

a. Representatives

b. Members

c. Trustees

5. National Commission has ___________ members in addition to the Chairman.

a. 2

b. 3

c. 4

B. Match the correct pairs: [5]

Group 'A'	Group 'B'
a. Sole trader (3)	1. Insurable interest
b. Life Insurance (1)	2. Branch of Social Science
c. Business ethics (5)	3. Local Market
d. Henry Fayol (6)	4. Father of scientific management
e. Planning (7)	5. Principle of indemnity
	6. Father of Modern management
	7. Primary function of Management
	8. To earn profit
	9. Last function of Management
	10. National Market.

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

1. A partner who gives only his name to the partnership firm.

Ans. Nominal partner.

2. The term derived from the terms ‘e-mail’ and e-commerce.’

Ans. e-business

3. The right of consumer which allows him to express his views.

Ans. Right to be heard

4. The Principle of management explaining about fair payment to workers.

Ans. Principle of Remuneration

5. The form of electronic currency that exists only in cyberspace.

Ans. Virtual Currency.

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

1. Joint Hindu Family firm and Joint Stock company.

2. Bonded warehouse and Duty Paid warehouse.

3. District Forum and State Commission.

4. Organising and Coordinating.

5. Cooperative society and Partnership firm.

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

1. Features of sole trading concern.

2. Any ‘five types’ of banks.

3. Advantages of e - business.

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

5. Nature of principles of management.

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

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

2. Cash can be withdrawn from ATM at any time.

3. Business organisation is not responsible to control pollution.

4. In India Consumer Protection Act is not required.

5. Training broadens the vision of entrepreneurs.

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

1. State the advantages of Road Transport.

2. State the working of a Payment Gateway.

3. State the responsibilities of consumers.

4. State the  principles of Scientific Management.

Q6.  Define ‘partnership firm’. Explain its merits and demerits. [10]

OR

Define ‘Planning’. Explain its importance.

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