OCM Guess Paper For the year 2016

Q.1 (A) Select the correct answer form the possible options given below and rewrite the statements:                5 Marks

1. At least ________ persons are required to form a partnership firm. 
(three, one, two)

2. Obligations are nothing but social responsibilities of                                 . (NGO, Consumer movement, Commercial organisation)

3. The Consumer Protection Act was passed in the year               . 

(1985, 1936, 1986)

4. The Consumer Education Research Centre was established in                          . 

(1986, 1976, 2006)

5. The Maximum number of coparceners in a joint Hindu Family firm is                         . 

(7, 5, unlimited)

(B) Match the correct Pairs:   5 Marks

Group A	Group B
1.       Time Study 2.       Controlling 3.       Joint Stock Company 4.       Maharashtra State Co-operative Societies Act 5.       Courier Services	1.       1960 2.       1962 3.       Study the time required to do a job 4.       Study the body movements of the workers 5.       Artificial person 6.       Person 7.       Corrective action taking 8.       All the people are employed 9.       DHL 10.   RBI

(C) Write a word or a phrase or a term which can substitute each of the following statements:                           5 Marks

1.       A consumer dispute redressal agency that handles claims up to Rs. 20 lakh rupees. (District Forum)

2.       The starting point of management function.(Planning) 

3.       Movement supporting consumers for their safety. (Consumer movement) 

4.       Creditors who provide finance to business organization. (Investors) 

5.       Name the modern process of controlling a business function to someone else. (Outsourcing)

Q.2 Distinguish Between: (Any three)  15 Marks

1.       LoanV/S Overdraft

2.       Commercial Bank V/S Central Bank

3.       Traditional social Responsibility V/S Corporate social Responsibility

4.       State Commission V/S National Commission

5.       Water Transport V/S Air Transport

Q.3Write short notes:     (Any three)    15 Marks

1.       Types of Warehouses

2.       Significance of principles of management

3.       Principle of Insurance

4.       Need for social responsibility.

5.       Types of Fire Insurance Policies

Q.4 State with Reasons whether the following statements are True or False: (Any three)       15 Marks

1. A partnership agreement can be verbal or written.

2. A sole trader can take prompt decisions and quick actions.

2. A sole trader has a weak bargaining power.

4. Business secrecy cannot be maintained in a Sole Trading Concern.

5. Liability of a sole trader is unlimited.

Q.5 Answer the Following:   (Any two)              10 Marks

1.       Role of NGO's in consumer Protection.                

2.       Responsibility of commercial organization towards Employee.

3.        Nature of Controlling.

4.       Factors to be considered for starting a business.

5.        Pecularities of Co-ordination.

Q.6 Define Co-operative Society? Explain its Merits and Demerits?          

Or

       Responsibility of commercial Organization towards Investors and Government?