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ICSE Class X Board Specimen 2022 : Commercial Studies [Semester 2]

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Indian Certificate of Secondary Education (ICSE), New Delhi

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ICSE SEMESTER 2 EXAMINATION SPECIMEN QUESTION PAPER COMMERCIAL STUDIES Maximum Marks: 40 Time allowed: One and a half hours Answers to this Paper must be written on the paper provided separately. You will not be allowed to write during the first 10 minutes. This time is to be spent in reading the question paper. The time given at the head of this Paper is the time allowed for writing the answers. Attempt all questions from Section A and any three questions from Section B. The intended marks for questions or parts of questions are given in brackets [ ]. SECTION A (Attempt all questions.) Question 1 Choose the correct answers to the questions from the given options. (Do not copy the question, Write the correct answer only.) (i) [10] The __________ budget contains an estimate of the total volume of production week wise, month wise and product wise. (ii) (a) Production (b) Purchase (c) Cash (d) Sales _________ market consists of all organizations, institutions and instruments that provide long term funds. (a) Money (b) Goods (c) Capital (d) Services T22 631 S2 SPECIMEN 1 of 6 (iii) The capital of the company is divided into equal parts called_________. (a) Debentures (b) Shares (c) Deposits (d) Funds (iv) The __________ selection tests seek to measure a candidate s capacity to learn particular skills and test his potential abilities. (v) (a) Personality (b) Dexterity (c) Trade (d) Aptitude __________ is a positive process which creates a pool of candidates. (a) Recruitment (b) Selection (c) Training (d) Development (vi) The __________ function of the Central bank involves settling of claims of Commercial banks through a process of book entries. (a) Monopoly of note issue (b) Government s bank (c) Clearing house (d) Developmental (vii) __________ shares do not carry voting rights. (a) Equity (b) Preference (c) Debentures (d) Public deposits T22 631 S2 SPECIMEN 2 of 6 (viii) The result of the trading account is the __________ and it is transferred to the Profit and Loss account. (a) Gross Profit (b) Net Profit (c) Bills Receivable (d) Bills Payable (ix) A __________ is an establishment for storage or accumulation of goods. (x) (a) Bank (b) Warehouse (c) Budget (d) Forecast __________ means a promise to compensate in case of loss. (a) Causa Proxima (b) Doctrine of Subrogation (c) Indemnity (d) Contribution SECTION B (Answer any three questions from this Section.) Question 2 (i) Explain Application Blank as a step in the selection process [2] (ii) What is a Production Budget? [2] (iii) Explain any three reasons why warehousing is important. [3] (iv) Explain any three Principles of Insurance. [3] T22 631 S2 SPECIMEN 3 of 6 Question 3 (i) Explain Mobile Wallets . [2] (ii) What is Insurance? [2] (iii) Write short notes on: (a) Fire Insurance (b) Cash Credit [3] (iv) What is External recruitment? Explain Employment Exchanges and Recommendations as sources of external recruitment. [3] Question 4 (i) What is a Budget? [2] (ii) Explain Placement Agencies as sources of External Recruitment. [2] (iii) Explain any three steps of the Selection process. [3] (iv) Write Short notes on: [3] (a) Discounting of bills of exchange (b) IMPS Question 5 (i) What is a Central Bank? [2] (ii) What is a Master Budget? [2] (iii) Explain any two functions of the Central Bank. [3] (iv) Write short notes on: [3] (a) Intellectual Property Fraud (b) Internet and Cyber fraud Question 6 (i) State any two differences between Credit Card and Debit Card. [2] (ii) State any two Disadvantages of Internal Recruitment. [2] T22 631 S2 SPECIMEN 4 of 6 (iii) Use the following Trial Balance to complete the Final Accounts of Ms. K. Pant for the year ending March 31, 2021. [6] TRIAL BALANCE Particulars Capital Drawings Plant and Machinery Creditors Debtors Purchases Purchase returns Dr . Cr. 3,78,000 40,000 1,60,000 1,00,000 1,40,000 2,75,000 14,000 Sales Sales Returns Cash in Hand Wages Repairs Salaries Opening Stock Rent Bills Receivable Bills Payable Bad Debts Carriage Inwards Furniture 4,40,000 20,000 30,000 80,000 16,000 60,000 45,000 24,000 24,000 40,000 10,000 18,000 30,000 9,72,000 9,72,000 Closing Stock was valued at Rs. 1,00,000 Trading Account of Ms. K.Pant for the year ending March 31, 2021 Dr. Particulars Amount Particulars To Purchases 2,75,000 (i) ( )___________ Amount By Sales 4,40,000 2,61,000 ( ) Sales Return 20,000 To Wages 80,000 To Opening Stock 45,000 (ii) ___________ (ii) __________ To Gross Profit transferred to Profit and Loss Account (iii) __________ 5,20,000 T22 631 S2 SPECIMEN Cr. By Closing Stock 42,0000 1,00,000 5,20,000 5 of 6 Profit and Loss Account of Ms. K. Pant for the year ending March 31,2021 Dr. Particulars Cr. Amount Particulars To Salaries 60,000 By Gross Profit To Repairs To Rent 16,000 24,000 To Bad Debts 10,000 To Net Profit transferred to Balance Sheet Amount (iii) ________ (iv) __________ 1,16,000 1,16,000 Balance Sheet of Ms. K.Pant as on March 31,2021 Liabilities (v) __________ ( ) Drawings 40,000 Amount Assets Plant and machinery (+) Net Profit (iv) _________ Debtors 3,44,000 Cash in Hand Creditors 1,00,000 Bills Receivable Bills Payable 40,000 Furniture (vi) _________ 4,84,000 T22 631 S2 SPECIMEN Amount 1,60,000 1,40,000 30,000 24,000 30,000 (vi) _________ 4,84,000 6 of 6

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