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CBSE Class 12 Pre Board 2021 : Business Studies with ANSWERS / MARKING SCHEME (Kendriya Vidyalaya (KV), Kanpur Cantt)

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KENDRIYA VIDYALAYA KANPUR CANTT S1 PRE BOARD EXAM 2020-21 CLASS XII BUSINESS STUDIES TIME ALLOWED: 3 HOURS MAXIMUM MARKS: 80 GENERAL INSTRUCTIONS: Write your name, roll number, class and section at the top. After completion of Paper, make its PDF and submit on Google Classroom. (i)Question no. 1 to 20 are MCQs. (ii) Answers to questions carrying 1 mark may be from one word to one sentence. (iii) Answers to questions carrying 3 marks may be from 50 75 words. (iv) Answers to questions carrying 4 5 marks may be about 150 words. (v) Answers to questions carrying 6 marks may be about 200 words. (vi) Attempt all parts of a question together Marks are given at the end of each question Q. NO. 1. MARKS Rohan works as a production manager in a Global Enterprises limited. He has been given the task of getting 1,000 unit of Hand Woven table mat manufactured at the cost of Rs.150 per unit within 10 days. In order to be acknowledged as an effective manager, he must ensure that 1 (a) the cost of production does not exceedRs.150 per unit (b) the work is completed within 10 days even at higher cost per unit c) the cost of production is less than Rs.150 per unit (d) All of the above. 2 Umang enterprises limited is planning to increase its sales by 30% in the next quarter. Identify the features of management being highlighted in the given statement. (a) Management is all pervasive. (b) Management is Goal oriented process. (c) Management is a continuous process. (d) All of the above. 1 3 The economic survey 2019 suggest that the psychological 1 biases can be used in the realm of tax compliance. It is in favour of using religious norms such dying in debt is a sin to improve tax compliance. Identify the related dimensions of business environment. (a) (b) (c) (d) 4 Legal and social dimension Social, and economic dimension Technological and political dimension Political and economic dimension 1 India continue to be a lower-middle-income country along with 46 other, while sri Lanka has climbed to the upper middle income group for the fiscal year 2020, according to world bank classification of countries by income levels, released on July 1st 2019. Identify the related dimensions of business environment. (a) Social Dimension (b) Technological Dimension (c) Economic Dimension (d) Political Dimension 5 Raju runs a logistic company. The tours Incharge of each trip in the company are expected to submit a report to the event manager on the completion of every trip. Identify the step in the controlling process being described in the above lines. (a) Setting of standards (b) Measurement of actual performance (c) Taking corrective action (d) Analysing the deviations 1 6 In a marketing firm, the financial manager pay more attention towards an increase of 3% in the marketing cost as compared to a 15% increase in the courier expenses. 1 Identify the concept being used by the manager. 7 8 (a) Management by exception (b) Critical point control (c) Corrective action (d) None of the above Veeru is working as marketing manager in a company. he has 1 been given the task of selling 1,00,000 units of a product at the cost of Rs. 100 per unit within 20 days. He is able to sell all the units within the stipulated time, but had to sell last 1,000 units at 20% discount in order to complete the target. In such a situation, he will be considered to be (a) An efficient manager (b) An effective manager (c) Both effective and efficient manager (d) None of the above Raghav has joined as a creative head in an entertainment company. He always ensures that the work has been divided into small and manageable activities and also the activities of similar nature are grouped together. Identify the related step in organising process being mentioned in the above lines. (a) Identification and division of work (b) Departmentalisation (c) Assignment of duties (d) Establishing reporting relationship 1 9 1 Uma has been given the task of arranging for five-day conference for foreign delegates. In order to smooth functioning of the event, he has made two people as coordinators to take care of activities related to registration and refreshment. Identify the function of management being carried out by Uma. (a) Planning (b) Staffing (c) Organising (d) directing 10 The Growing awareness about healthcare has led to an increase in the demand for healthcare products and services in the country. 1 Identify the feature of business environment being described in the above case. 11 12 (a) Dynamic nature (b) Uncertainty (c) Relativity (d) interrelatedness Which of the following is not a component of specific forces of 1 business environment? (a) Technological conditions (b) Customers (c) Employees (d) investor Sujoy limited is offering a travel package for 10 destinations worldwide with a free insurance on the booking for the month of December, 2018. Identify the features of marketing being describe in the above lines. (a) Needs and wants (b) Creating a market offering (c) Customer value (d) Exchange mechanism 1 13 In order to promote the habit of health and hygiene among 1 weaker sections of the society, Arnav limited has launched low cost packs of hand wash. Identify the type of marketing philosophy being adopted by the company. (a) Product concept (b) Production concept (c) Marketing concept (d) Societal marketing concept OR Which of the following statement is not true with regard to the concept of product? 14 (a) It is the bundle of utility (b) It is a source of satisfaction (c) It is confined to physical product (d) All of the above In an inter school quiz competition, the participants were shown empty bottles of soft drinks and were asked to identify the brands. All the participants were able to do so. Identify the related point highlighting the importance of packaging which is being described in the given case: 1 15 (a) Rising standards of health and sanitation (b) Facilitates product differentiation (c) Innovative packaging adds value to a product (d)Useful in self service outlets. Good health limited has decided to launch a new range of water bottles with in built water purifier. Instead of marketing the product by is generic name, the company has decided to call it Purifire . Identify the type of marketing function being described in the given lines. 1 (a) Packaging and labelling (b) Branding (c) Pricing (d) promotion 16 The collection of utilities is known as ________. (a) (b) (c) (d) 1 Purchaser Seller Product Market OR Sugandha purchased a pack of crayons for her daughter from nearby stationery shop. She noticed that the crayons were packed in a portable transparent plastic bag. Identify the level of packaging being described in the above case. (a) Primary packaging (b) Secondary packaging (c) Transportation packaging 17 (d)None of the above. Read the following text and answer questions no.17-20 on the basis of the same topic: Before selling the securities through stock exchange, the companies have to get their securities listed on stock exchange. The name of the companies is included in listed securities only when stock exchange authorities are satisfied with the financial soundness and other aspects of the company. Previously the buying and selling of securities was done in trading floor of stock exchange; today it is executed through computer. 1 Which of the following statements is not true with regard to stock exchange? (a) The funds are raised for a short period of time. (b) Both debt and equity funds can be raised. (c) It is classified into two types. (d) All of the above. 18 Stock Exchange works as a mechanism for valuation of securities through the forces of demand and supply. Identify the related function of performed by the stock exchanges. (a) Providing liquidity and marketability to existing securities. (b) Safety of transaction (c) Pricing of security. (d) Spreading of equity cult. 1 19 It serves as an intermediary between the investor and the Depository. (a) Depository Participant (b) Depository (c) Stock exchange (d) None of the above 1 20 Identify the correct sequence of steps to be followed in the trading procedure at Stock Exchange (a) Opening a trading account and De-mat account, Placing an order, Settlement of order, Execution of order (b) Settlement of order, Opening a trading account and Demat account, Placing an order, Execution of order (c) Opening a trading account and De-mat account, Placing an order, Execution of order, Settlement of order 1 (d) Placing an order, Opening a trading account and De-mat account, Execution of order, Settlement of order DESCRIPTIVE QUESTION PAPER 1 Chaman is working as a Divisional Head in Trimurti Ltd. Name the managerial level at which he is working. State any two functions he will perform as plant superintendent in this company. 3 2 Explain Internship training and vestibule training and classify them as on-the-job and off-the-job methods of training. 3 3 Gagan is trying to apply a function of management in his 3 department. First he lets his team perform according to their best potential. Then in a meeting he calls everybody and asks his team to check what they have performed. It was found that the total number of units produced were 20 less than the set target. Then finally it was decided that no worker will go home unless and until this gap of 20 units is overcome. a) Which function of management is being performed by Gagan and his team? (1M) b) What is '20' in the above case? (1M) c) At which stage of management do you think the target was set? (1M) Or It is generally believed that measurement of performance should be done after the task is completed. Identify and explain the step in the process of the function of management being discussed above and the step followed by the same in the process. 4 Financial market plays an important role in the allocation of scarce resources in an economy by performing various 3 functions. Explain any three functions of financial market . OR What is meant by primary market? Explain any two methods of floating new issues in the primary market. 5 Sahil, the director of a garments company, is planning to manufacture bags for the utilisation of waste material for one of his Garments unit. He decided that this manufacturing unit will be set up in a rural area of Orissa, where people have less job opportunities and labour is available at a very low rate. He also thought of giving equal opportunities to men and women. For this, he selected S Chatterjee, Indeijeet Kaur, Aslam and Sarabjeet as heads of sales, accounts, purchase and production departments. Identify and state the next two steps that Sahil has to follow in the staffing process after selecting the above heads. 4 6 Pranav is a supervisor at Ghan Shyam Cake and Biscuits Factory . The factory produces 10,000 packets of cake and biscuits every day. As a supervisor Pranav ensures that work goes on smoothly and there is no interruption in production. He is a good leader who gives orders only after consulting his subordinates, working out the policies with the acceptance of the group. 4 Identify and explain the leadership style being adopted by Pranav. 7 8 Ayasha Ltd. assured their employees that in spite of recession, no worker will be retrenched from the job. i. Name and explain the type of incentive offered to the ii. employees. Explain one more incentive of the same category OR To satisfy the social and physiological needs which type of incentives are needed? Explain any four types of such incentives. Explain any four factors that can affect the Fixed capital requirement of a company. 4 4 OR Explain any four factors that affect the choice of capital structure of a company. 9 Raghu wants to start a business of selling Simple masks after the outbreak of the global pandemic of COVID-19. Due to the uncertain market conditions he wants to make a low investment in fixed capital. Suggest how the decisions related to the choice of technique and financing alternatives can help Raghu in ensuring a low investment in fixed capital requirements. 4 10 Explain the following rights of consumers provided by Consumer Protection Act, 1986:- 4 (A) Right to Information (B) Right to seek redressal 11 Haryaram is a famous chain selling a large variety of products 6 in the Indian market. Their products include chips, biscuits, sweets and squashes. It charges a comparatively higher price than its competitors as it sells quality products. Besides, it offers regular discounts to its customers and easy credit terms to its retailers. It has five of its own retail shops. It also sells its products through various grocery stores to that the products are made available to customers at the right place, in the right quantity and at the right time. It regularly uses different communication tools to increase its sales. The above para describes the combination of elements marketing mix used by Haryaram to prepare its market offering. Identify and explain the elements. Or After acquiring the necessary knowledge and skills on starting an Aloe vera Farm. Ashok wanted to be the leading manufacturer of Aloe vera products worldwide. He observed that the products were expensive as the demand of the products was more than supply. He was also keen to promote methods and practices that were economically visible, environmentally sound and at the same time protecting public health. Ashok's main consideration was about the amount of money paid by the consumers in consideration of the purchase of Aloe vera products. He also thought that competitor prices and their anticipated reactions to be considered for this. After gathering and analysing information and doing correct market planning, he came to know that the consumers compare the value of a product to the value of money which they are required to pay. The consumers will be ready to buy a product when they perceived that the value of the product is at least equal to the value of money which they would pay. Since he was entering into a new market, he felt that he may not be able to cover all costs. He knew that in the long run the business will not be able to survive unless all costs are covered in addition to a minimum profit. He examined the quality and features of the products of the competitors and the anticipated reactions of the consumers. Considering the same he decided to add some unique features to the packaging and also decided to provide free home delivery of the products. The above case relates to a concept which is considered to be an effective competitive marketing weapon. In conditions of perfect competition most of the firms compete with each other on this concept in the marketing of goods and services. (a) Identify the concept. (b) Explain briefly any four factors discussed in the above case related to the concept so identified. 12 For the last three years, Elpis Technology Solutions p(Ltd.) is not functioning smoothly and systematically. The relations between management and employees are becoming bitter day by day. After a complete analysis, it was observed that employees are not working effectively and efficiently and 6 13 14 management is not fulfilling its commitment of increments and promotions, i. Which management principle is being ignored in the given case? ii. Can the problem be solved if only management becomes iii. serious in fulfilling its promises? What should be the appropriate course of action to achieve smooth and systematic functioning of Elpis Technology? What are the adverse effects of the violation of Unity of Command Tishu, Ashu and Ravi have decided to start a business of 6 manufacturing toys. They identified the following main activities which they have to perform; Purchase of raw materials, Purchase of machinery, Production of toys, Arrangement of finance, Sale of toys, Identifying the areas where they can sell their toys Selection of employees In order to facilitate the work they thought that four managers should be appointed to look after Production, Finance, Marketing Personnel. Identify the function of management involved in the abovementioned para. Quote the lines from the above para which help you in identifying this function. State the steps followed in the process of this function of management. Planning is worth the huge costs involved? Do you agree? 6 Explain any four reasons in support of your answer. OR If the project is important then more alternatives should be generated and thoroughly discussed amongst the members of the organisation. Identify and explain the step in the process of planning being discussed above. Also explain the remaining steps which will have to be carried out to complete the process. MARKING SCHEME 0F MCQ 1. B 2. B 3. B 4. C 5. B 6. B 7. B 8. B 9. C 10. D 11. A 12. C 13. B OR C 14. B 15. B 16. C OR A 17. A 18. C 19. A 20. C MARKING SCHEME OF DESCRIPTIVE B.ST 1ST PRE-BOARD 1 2 Level of management is middle level management and two functions are interpreting the policy framed by top level management and assigning necessary duties and responsibilities to staff and any other functions. Internship training- is a joint Programme of training in which educational institutions and business firms cooperate. Selected candidates carry on regular studies for the prescribed period. Vestibule training-Employees learn their jobs on the equipment they will be using, but the training is conducted away from the actual work floor. Actual work environments are created in a class room and employees use the same material, files and equipment. Internship training can be classified as On-the-job method of training Vestibule training can be classified as off-the-job method of training 3 3 3 a) In the above case the function performed by Gagan and his team is controlling. b) '20' in the above case is deviation (Gap between actual performance and set standards) c) The target was set at the planning stage of management Or Measurement of Actual performance Performance should be measured in an objective and reliable manner. There are several techniques for measurement of performance. Wherever possible measurement of work should be done during the performance. 3 Comparing actual performance with standards: This step involves comparison of actual performance with the standard. Such comparison will reveal the deviation between actual and desired results. Standards become easier when standards are set in quantitative terms. 4 Mobilisation of savings and channeling them into the most productive uses A financial market facilitates the transfer of savings from savers to investors. Thus, it will help in channelising surplus funds into the most productive uses. (ii)Facilitating price discovery Interaction between supplier and investor helps to establish a price for the financial asset which is being traded in that market. (iii) Providing liquidity to financial assets Financial market facilitates easy purchase and sales of financial assets. In doing so, they provide liquidity which means these assets are converted into cash whenever required. OR Primary market is the market where securities are being issued for the first time. Therefore, it is also known as New Issue Market (NIM). Methods of floatation are as follows: (i) Offer through prospectus Under this method, company issues a prospectus to inform and attract general public. In prospectus, company provides details about the purpose for which funds are being raised, past financial performance of the company, background and future prospects of company. (ii) e-IPOs It is the new method of issuing securities through online system of stock exchange. In this, company has to appoint registered brokers for the purpose of accepting applications and placing orders. The issuer company has to apply for listing of its securities and the leading manager coordinates all the activities of these issues through various 3 5 intermediaries. (i) Selection is done in the third step, in which a prospective candidate is chosen from the pool of candidates. It ensures that the organisation gets the best among the available and it enhances the morale of the selected candidates. The next two steps are as follows: Placement and orientation In this step, employee occupies the position or is placed, for which he/she has been selected. After this a brief presentation about the company is given and employee is introduced to his superiors, subordinates and colleagues. Training and development In this step, training is imparted to the selected candidates, by which he/she can enhance his/her skills, knowledge and through this, one can also explore the opportunities. 4 6 Democratic or participative leader: A democratic leader will develop action plans and make decisions in consultation with his subordinates. He will encourage them to participate in decision making. This kind of leadership style is more common now-a-days, since leaders also recognise that people perform best if they have set their own objectives. 4 7 1.The name of the incentive offered is Job security. Employees want their job to be secure. They want certain stability about future income and work so that they do not feel worried 4 8 Factors affecting requirement of fixed capital: (1) nature of business (2) Technique of production (3) Technology upgradation (4) Growth prospect (and any other) OR Factors affect choice of capital structure (1) cash flow position (2) interest coverage ratio (3) return on investment (4) cost of debt (5) tax rate (6) cost of equity (7) floatation cost (and any other factors) 4 9 Choice of Technique: As he wishes to stick to a low investment model, we may suggest him to go with the Labour intensive 4 technique to manufacture Simple masks. Since better technology would cost him much and his risk appetite is not conducive for capital intensive techniques of production. Financial Alternatives: As he wishes to stick to a low investment model, we may suggest him to go with the lease option for fixed assets like building, heavy machinery etc. as this may reduce his investments requirement in the business. 10 A. Right to information- consumer has the right to get information about the quality, quantity, purity, standard and price of goods and services. 4 B. Right to seek redressal- consumer has the right to get compensation or seek redressal against unfair trade practice or any other exploitation. 11 Product mix- Their products include chips, biscuits, sweets and squashes Price mix- It charges a comparatively higher price than its competitors as it sells quality products. Place mix- It has five of its own retail shops. It also sells its products through various grocery stores to that the products are made available to customers at the right place. Promotion mix- It regularly uses different communication tools to increase its sales. Or (a) The concept discussed in the given paragraph is price of the product. (b) Four factors discussed in the above case: i. Quoted Line: After gathering and analysing information and doing correct marketing planning, he came to know that consumers compare the value of a product to the value of money, which they are required to pay. Consumers will be ready to buy a product when they perceived that the value of the product is at least equal to the value of money, which they would pay. Factor: The Utility and Demand ii. Quoted Line: He examined the quality and features of the products of competitors and the anticipated reactions of consumers. Factor: Extent of competition in the market iii. Quoted Line: Considering the same he decided to add some unique features to the packaging and also decided to provide free home delivery of the products. Factor: Marketing methods used iv. Quoted Line: Since he was entering into a new market, he felt that he 6 may not be able to cover all costs. He knew that in the long run, the business will not be able to survive unless all costs are covered in addition to a minimum profit. Factor: Product cost. 12 i. The principle of Discipline is being violated. 6 ii. No, the problem cannot be solved through management efforts only. For smooth and systematic functioning of Elpis Technology Solutions p(Ltd.), both employees and management should be disciplined. Employees must be disciplined to work effectively and efficiently and management should meet their commitment of increments and promotions. iii.Unity of Command: The violation of this principle leads to confusion in the mind of the subordinate in following the orders. . 13 Organizing they identified the following main activities which they have to perform. In order to facilitate the Work they thought that four managers should be appointed to look after Production, Finance, Marketing, Personnel. Steps in Organizing Process: Identify and dividing the work into manageable activities. Departmentalization / Departmentation where activities of a similar nature are grouped together. Assignment of duties to job positions. Establishing reporting relationships so that each individual knows from whom he has to take orders and to whom he is accountable. 6 14 Yes. Importance of Planning (Any four) 1.Planning provides direction: Planning ensures that the goals or objectives are clearly stated so that they act as a guide for deciding what action should be taken and in which direction. If goals are well defined, employees are aware of what the organisation has to do and what they must do to achieve those goals. 2.Planning reduces the risks of uncertainty: Planning is an activity which enables a manager to look ahead and anticipate changes. By deciding in advance, the tasks to be performed, planning shows the way to deal with changes and uncertain events. Changes or events cannot be eliminated but they can be anticipated and managerial responses to them can be developed. 3.Planning reduces overlapping and wasteful activities: Planning serves as the basis of coordinating the activities and efforts of different divisions, departments and individuals. It helps in avoiding 6 confusion and misunderstanding. Since planning ensures clarity in thought and action, work is carried on smoothly without interruptions. Useless and redundant activities are Minimised or eliminated. 4.Planning promotes innovative ideas: Since planning is the first function of management, new ideas can take the shape of concrete plans. It is the most challenging activity for the management as it guides all future actions leading to growth and prosperity of the business. 5.Planning facilitates decision making: Planning helps the manager to look into the future and make a choice from amongst various alternative courses of action. The manager has to evaluate each alternative and select the most viable proposition. Planning involves setting targets and predicting future conditions thus helping in taking rational decisions. Planning establishes standards for controlling: Planning provides the goals or standards against which actual performance is measured. By comparing actual performance with some standard, managers can know whether they have actually been able to attain the goals. If there is any deviation it can be corrected. Therefore, we can say that planning is a prerequisite for controlling. OR Identifying alternative course of action (with explanation) Remaining steps to carried out to complete the process are as follow: (1) Evaluating alternatives course (2) Selecting an alternative (3) Implement the plan (4) Follow up action. 2.The name of the incentive offered is Job security. Employees want their job to be secure. They want certain stability about future income and work so that they do not feel worried on these aspect and work with greater zeal. 3.Employee participation: It means involving employees in decision making if the issues related to them. In many companies, these programmes are in pratice in the form of joint management committees, work committees, canteen committees etc. OR Psychological, cognitive and social factors can play a role in what incentives one finds motivating and to what degree. Incentives can be used to get people to engage in certain behaviors, but they can also be used to get people to stop performing certain actions. Financial incentives are needed to satisfy the social and physiological needs. Four types of such incentives are 1.Pay and allowances: Salary is the basic monetary incentive for every employee. It includes basic pay, dearness allowance and other allowances like House Rent Allowance, Entertainment allowance etc. Under salary system, employees get regular annual increments and enhancement of allowances from time to time. 2.Profit sharing: Sometimes a company or a business firm may share some part of its profit with the employees. The main purpose of sharing profits with the employees is to improve their performance so that they can contribute more in increasing the productivity and profits of the firm. 3.Productivity linked wage incentives: Employees can be motivated by giving them productivity linked wage incentives. There are certain wage rate plans which offer higher wage for more efficient worker for example; different piece wage system allows high wages to efficient workers as compared to inefficient workers. 4.Co-partnership/Stock option: Sometimes companies offer their shares to its employees at a set price which is lower than the market price. The main purpose of allotting shares to the employees is to create a feeling of ownership among them so that they can contribute more for the growth of the organization.

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