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CBSE Class 10 Sample / Model Paper 2021 : Elements of Business

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Kendriya Vidyalaya (KV), Kamla Nehru Nagar, Ghaziabad

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ELEMENTS OF BUSINESS (154) SAMPLE QUESTION PAPER 2020-21 CLASS X MM 70 TIME: 3 HOURS General Instructions: 1 This question paper contains 30 questions. 2 Marks are indicated against each question. 3 There are two Case Based Questions (CBQ s) of three marks each. 4 There are two Case Based Questions (CBQ s) of four marks each. 5 Answers should be brief and to the point. Q.No 1 2 3 QUESTIONS Marks ................ is the business form in which there is separation of ownership and management. a. Sole Proprietorship b. Partnership c. Company d. Hindu Undivided Family 1 The holders of .......................... enjoy right to vote and right to receive dividend. a. Preference Share b. Retained Earnings c. Equity shares d. Trade Credit 1 Debentures represents.........................of the company. a. Fixed capital of the company b. Permanent capital of the company c. Fluctuating capital of the company d. Loan capital of the company 1 Page | 1 4 5 6 Which of the following is an internal source of finance? a. Bonds b. Debentures c. Retained earnings d. Loan from financial institutions OR Which of the following is the permanent source of capital? a. Commercial paper b. Equity shares c. Preference shares d. Debentures 8 1 Informal communication is also known______________ a. Grapevine b. Lateral c. Visual d. Horizontal OR The full form of e-mail is.............................. : a. electric mail b. extra mail c. extension mail d. electronic mail 1 1 Match the correct options of Column I with Column II: Column I (a) Companies Act (b) Maximum number of members in a private company (c) Minimum number of members in a public limited company Alternatives: (A) (a)-(iii),(b)-(ii),(c)- (i) (B) (a)-(ii),(b)-(iii),(c)-(i) (C) (a)-(ii),(b)-(i), (c)- (ii) (D) (a)-(i),(b)-(iii),(c)-(ii) 7 1 (i) (ii) Column II 7 2013 (iii) 200 ...............................is not used for making payment. a. Debit card b. Credit card c. Pay in-slip d. Cash Invoice is prepared by........................ in case of sale of goods a. Buyer c. Borrower b. Seller d. Owner 1 1 1 Page | 2 9 10 In a credit sale: a. Payment is not made by cash , it is made by credit card. b. Payment is not made at the time of delivery, it is made later. c. Payment is not made by cash, it is made online. d. Payment is not made by cash, it is made by cheque. 1 Which of the following indicates the correct sequence of the elements of communication in the communication process? a. Sender Receiver Channel Message Feedback b. Receiver Feedback Sender Message Channel c. Sender Channel Message Feedback Receiver d. Sender Message Channel Receiver Feedback 1 11. A process of communication in which the message is exchanged through letters sent by post is called........................ a. Oral Communication b. Written communication c. Online Communication d. Visual Communication 12 Railway platform ticketing machines seen in railway stations are the example of..................... a. Street stall Holders b. Automatic Vending Machine c. Speciality shops d. Itinerant traders 13 14 Reliance Fresh store is an example of....................... a. Multiple Shops b. General store c. Junk dealer shop d. Departmental stores ........................activities included offering cash discounts, sales contests and free samples to the customers.. a. Sales Promotions b. Personal Selling c. Advertising d. Publicity OR Advertising aims at................................ a. Product selling c. Customer relations b. Marketing d. Mass Communication 1 1 1 1 1 Page | 3 15 16 Which of the following is not the technique of sales promotion which boosts the sale of a product in the short run? a. Product combination b. Rebate c. Publicity d. Lucky draw .........................is a large establishment offering a wide variety of products, classified into well defined departments, aimed at satisfying every customer under one roof. a. General store b. Departmental stores c. Mail order Business d. Street stall holders 17 Define Personal Selling. State any two features of personal selling. 18 Read the following case and answer the question given: Pankaj wants to start a company and asks his friend Rohit (a businessman) to explain the difference between a private and public company. Rohit told him that a public company is the one which is not a private company . Pankaj is now more confused than ever before. Suppose you are Sumit, his Chartered Accountant, state any three differences between Public and Private company, to help Pankaj in understanding the same. 19 20 21 22 State any three advantages of email as a means of business communication. OR State the role of sender and receiver in the process of communication 1 1 3 3 3 3 Discuss the concept of sale. OR Distinguish between cash sales and credit sales. 3 Automatic Vending Machine is a new and innovative way of direct retailing . In the light of the statement state the advantages of Automatic Vending Machine. 3 Read the following case and answer the question given: Sanyam, a N-95 masks producer has decided to expand the production capacity of his factory after the outbreak of the global pendamic of COVID19. He decided to modernise the plant and machinery at an estimated cost of 12 crores. However, he does not have adequate reserves to finance the Page | 4 expansion process. He approached his, Mr. Aashish, chartered accountant for suggestions on the sources of finance. Suppose you are Mr Aashish, state any three sources of finance available with Sanyam. 23 24 Read the following case and answer the question given: Anika ltd. is a company manufacturing school bags for students. Like past few decades of consistent profits earnings, this year too, it has been able to generate enough profits and distribute 70% dividends as there is sufficient availability of cash with the company. Ms Anika Bhardwaj, the chairperson of the group, has received thanks emails from a large number of shareholders, for excellent returns on their investments. Ms. Sumitra is one of such shareholders, who has written to the management for the returns on her investments. Which type of shares Ms. Sumitra holds? State any three features of such shares. Read the following case and answer the question given: Due to the global pandemic of COVID-19, Mr. James the Chairman of James Pharmaceuticals, held the Annual General Body Meeting with its shareholders via Video Conferencing. His efforts to getting connected to the shareholders were commended by the shareholders to a great extent. Suppose you are is one of such shareholders who is speaking in the Annual General Body Meeting. State any four advantages of Video Conferencing. 3 4 4 25 State the various steps involved in the process of selling. 4 26 Distinguish between Departmental stores and Multiple shops. OR Explain any two advantage of retailing through departmental stores. 4 27 Identify and explain the technique of sales promotion in the following cases:a. 40% extra free with a pack of Hakka Noodle . b. Scratch a card and get a gold coin with the purchase of a new car. c. A mobile company offers a discount of 2500 to clear off excess inventory. d. A company offers a pack of kg of salt with the purchase of 3kg bag of sugar. e. Purchase goods worth 20000 and get a holiday package of 15000 free . OR 5 Page | 5 Explain the importance of personal selling to a business organisation. 28 29 30 a. Explain any three advantages of letters as a method of business communication. b. State any two limitation of telephonic conversation as a method of business communication. OR Explain the following:(a) Written communication (b) Verbal communication Define Joint Stock company. Explain its features in brief. Discuss in detail the following methods of purchase of goods:(a) Hire Purchase Method (b) Instalment Method 5 3 2 5 5 5 Page | 6 ELEMENTS OF BUSINESS (154) 2020-21 CLASS X MARKING SCHEME Q.No QUESTIONS Marks 1 c. Company 1 2 c. Equity Shares 1 3 d. Loan capital of the company 1 4 c. Retained earnings 1 b. Equity shares 5 a. grapevine d. electronic mail OR OR 1 1 1 6 (B) (a)-(ii),(b)-(iii),(c)-(i) 1 7 c. Pay in-slip 1 8 b. Seller 1 9 b. Payment is not made at the time of delivery, it is made later. 1 10 d. Sender 1 11. b. Written communication 1 12 b. Automatic Vending Machine 1 13 d. Departmental stores 1 Message Channel Receiver Feedback Page | 1 14 a. Sales Promotions OR d. Mass communication 1 15 c. publicity 1 16 b. departmental store 1 17 Personal selling involves oral presentation of message in the form of conversation with one or more prospective customers for the purpose of making sales. 1 Features of personal selling: 18 (i) Personal form : In personal selling a direct face to face dialogue takes place that involves an interactive relationship between the seller and the buyer. 1 (ii) Development of Relationship: Personal selling allows a salesperson to develop relationship with prospective customers ,which may become important in making sale. 1 BASIS OF PUBLIC COMPANY DIFFERENCE PRIVATE COMPANY NUMBER OF Has a minimum of 7 Has a minimum of 2 MEMBERS members and no limit and a maximum of on maximum 200 members, members excluding the present 3 and past employees. RESTRICTION ON Has no restriction on Restricts the right of TRANSFER OF transfer of securities members to transfer SECURITIES INVITING PUBLIC its shares Is not prohibited from Does not invite public inviting the public to to subscribe to its subscribe to its securities securities 19 Advantages of an email as a means of business communication:- 3 Page | 2 (a) It is a fast method of communication (b) It is an expensive method of communication (c) As compared to traditional method of communication there is little chance of loss in transmission OR Role of sender and receiver in communication process: Sender : Sender plays a very important role in communication process. Sender is the person who has an idea, or message to communicate. Receiver: The person who receives message of the sender is known as receiver. 20 1 1 1 3 Contract involving transfer of the possession and ownership (title) of a good or property, or the entitlement to a service, in exchange for money or value is known as a sale .Essential elements that must be present in a valid sale are: (1) competence of both the buyer and seller to enter into a contract, (2) mutual agreement on the terms of exchange, (3) a thing capable of being transferred, and 3 (4) a consideration in money (or its equivalent) paid or promised. OR The difference between a cash sales & and credit sales is the timing of the payment. A cash sales is a transaction where payment is settled immediately. On the other hand, payment for a credit sales is settled at a later date. 3 For example, Ramesh buys grocery and makes payment immediately in cash it will be known as a cash sales. However, if he makes the payment on a later date it will be known as a credit sales. 21 Following are the advantages of Automatic Vending Machine: 1. Large scale retailing 2. Round the clock buying is possible 3. Uniform weight 1 1 1 Page | 3 22 Sources available with Sanyam limited :(i) Debentures 1 (ii) Equity Shares 1 (iii) Preference shares 23 (any other relevant point) Equity Shares Features of Equity shares: (a) Equity share capital serves as permanent capital as it is to be repaid only at the time of liquidation. (b) Payment of dividend is not compulsory. (c) Funds can be raised through equity shares without creating charge on the assets of the company. 24 Advantages of video conferencing are: ( any four) a) Saves time b) Saves cost c) Efforts minimisation d) Glocalization of transactions e) Rapid connect 25 Steps involved in selling procedure:- 1 1 1 1 1 (1x4) a) Enquiry from intending buyer b) Providing Quotation to the intending buyer c) Receipt of order from the buyer d) Execution of order and Invoicing e) Opening customer s account x8 =4 f) Dispatch of goods g) Delivery of goods to the buyer h) Receipt of payment and settlements of accounts Page | 4 26 BASIS OF DEPARTMENTAL MULTIPLE DIFFERENCE STORES STORES Location Centrally Located to Established at number attract large number of of places 4 customers. Credit facilities Multiple shops sell Departmental Stores provide credit facilities goods only on cash to regular and reputed basis. customers. Variety of Products Different types products are of Specific Range of sold products are sold.s under one roof. Services offered Departmental stores Multiplestores lay great emphasis on provide very limited providing service customers maximum service confined to to their guarantees and repairs if the sold out turn out to be defective. OR Advantages of retailing through departmental stores: (i) Attract large number of customers: These stores are usually located at central places, they attract a large number of customers during the best part of the day. (ii) Economy of large- scale operations: As these stores are organised at a very large scale, the benefits of large scale operations, particularly, in respect of purchase of goods are available to them. 27 a. Quantity gift b. Instant Draws c. Rebate d. Product combination e. Usable benefit 2 2 1x5 OR The importance of personal selling to a business organization may be Page | 5 described as follows: i) Effective Promotional Tool: Personal selling is very effective promotional tool, which helps in influencing the prospects about the merits of a product and thereby increasing its sale. (ii)Flexible Tool: Personal selling is more flexible than other tools of promotion such as advertising and sales promotion. It helps business persons in adopting their offer in varying purchase situations. (iii)Minimizes Wastage of Efforts: Compared with other tools of promotion, the possibility of wastage of efforts in personal selling is minimum. This helps the business persons in bringing economy in their efforts. (iv) Consumer Attention: There is an opportunity to detect the loss of consumer attention and interest in a personal selling situation. This helps a business person in successfully completing the sale. (v)Lasting Relationship: Personal selling helps to develop lasting relationship between the sales persons and the customers, which is very important for achieving the objectives of business. 28 (a) Advantages of letters as a method of business communication:(i) It is suitable for long distance communication. (ii) It can be used as legal document. (iii) It can be sent to many persons at a time. (any other relevant point) (b) Limitation of Telephonic conversation: (i) Phone conversation is less personal in many ways and can lead to miscommunication and misunderstanding. (ii) It is more expensive as compared to other methods of communication . (any other relevant point) OR (a) Written communication:- A written communication means sending of messages, orders or instructions in writing through letters, circulars, manuals, reports, office memos etc. It is a formal method of communication and less flexible. It can also be used as a legal evidence. (b) Verbal Communication:- Verbal communication is the use of words to share information with other people. The effectiveness of the verbal communication depends on the tone of the speaker, clarity of speech, volume, speed, body language and the quality of words used in the conversation. 1x5 1 1 1 1 1 2 2 Page | 6 29 A company is an association of persons formed for carrying out business activities and has a legal status independent of its members. 1 Features of Joint stock company are: 30 (a) Separate legal entity: From the day of its incorporation, a company acquires an identity, distinct from its members. Its assets and liabilities are separate from those of its owners. 2 (b) Artificial person : A company is a creation of law and exists independent of its member. Like natural persons ,a company can own property ,incur debts, borrow money ,enter into contracts. It is, therefore, called an artificial person. 2 (a) The hire purchase system is essentially a contract for hiring of goods. The ownership rights remain with the seller and the customer exercises his option for purchasing the goods. The buyer can return the goods at any stage. The seller can also take back the goods in case of non-payment. (b) When goods are sold and payment is agreed to be made in instalments, it is known as instalment payment system. In this case if there is default in payment of any instalment by the buyer, the seller cannot ask for the goods to be returned as the ownership rights pass to be buyer when goods are sold and initial payment is made. The seller can only sue the buyer in a law court for payment of the balance due. 2 2 Page | 7

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