OCM MOCK Paper for the year 2016

MARKS : 80      TIME : - 3 HRS.

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

1.      A Sole proprietorship is the ________form of organization.  (oldest, newest, modern)

2.      Business organisation should try to make ________ utilization of natural resources. (Minimum, Maximum, Optimum)

3.      In e-business, payments have to be made __________ (in cash, on credit, online)

4.      Unlimited goal of business must be satisfaction of ________ (Shareholders, consumers, owners)

5.      Principle of indemnity is not applicable to _____ (Fire Insurance, Marine Insurance, Life Insurance)

   

(B) Match the correct Pairs:         5 Marks

Group A	Group B
1. Sole Trading Concern 2. Co operative Society 3. Partnership firm. 4. Joint Hindu Family Firm 5. Public company	1. Single ownership 2.  Direction 3. Karta  4. Minimum 7 members.  5. Maximum 10 partners in non - banking business. 6. RBI 7. Maximum 20 partners in non - banking business. 8. Cash Payment.  9. e- commerce 10. One member one vote.

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

1.       Basic right of consumer. (Right to Safety) 
2.       The term derived from the terms e-mail and e-commerce. (e - business)

3.       Father of modern management. (F.W. Taylor)

4.       Indian philosopher who had promoted concept of social responsibility in ancient times. (chanakya, mauriya)

5.       A function of management that brings physical, financial and human resources together for better productivity. (Organising)

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

1.       Sole TradingConcern V/S Partnership Firm  

2.       CurrentAccount V/S Saving Account

3.       BondedWarehouse V/S Duty paid Warehouse

4.       LifeInsurance V/S Fire Insurance

5.       Districtforum V/S State Commission

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

1.       Nature of Principles of Management

2.       E-Banking

3.       Payment Mechanism

4.       Role of Transport

5.       Out sourcing

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

1. A joint stock company can raise huge capital.

2. Company form of organizations has developed before industrial revolution.

3. Co – operative Society differs from other forms of commercial organizations.

4. The membership of a Co – operative society is voluntary.

5. Profit maximization is the motto or object of a Co – operative Organisations.

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

1.       State the responsibility of commercialorganization towards Owner.            

2.       Elements of Business Ethics

3.       Consumer Responsibility

4.       Nature of Business Service

5.       Competencies of Entrepreneurship.

Q.6   What are the Primary and secondary functions of Commercial banks.          

Or

       Write about F.W. Taylor's Scientific Management.