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ICSE Class X Mid-term 2025 : Commercial Studies

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Taronish Mullan
Villa Theresa High School (VTS), Mumbai

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llilla m:oeresa l,igb ~cbool Std. X First Term Examination - September 2024 Time: 2 hrs. COMMERCIAL STUDEIS Marks: 80'.___J Sub'ect: .....::~:.:..:..: ~::.:.:.:::::.::. .:....:.:::....:: :..:....:::~~~- -----_..::~~~ Date: ___;_....:......._ _ _ _ _ _ _~~.:::.=.::.:.. _ _5.9.2024 (,...._ Answers to this paper must be written on the paper provided separately. You will not be allowed to write during the first 15 minutes. This time will 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 four questions from Section B. The intended marks for questions or parts of questions are given in the brackets [] SECTION A (Attempt all questions from this Section) Question 1 Choose the correct answers to the questions from the giv~n options. (Do not copy the questions, write the correct answers only) (161 a) b) c) d) What is the term used to calculate the cost of producing one additional product unit? Fixed Cost Variable Cost Semi-variable Cost Total Cost a) b) c) d) Which type of market structure is characterized by a single seller and high barriers to entry? Perfect Competitio n Monopolistic Competitio n Oligopoly Monopoly i) ii) iii) Which of the following best descril:-es the term cash flow'? The total amount of cash a company has in hand. a) The movement of cash into and out of a business. b) The amount of cash invested in fixed assets. c) The cash available after paying all expenses. d) iv) a) b) c) d) Which of the following is considered a consumer right under the Consumer Protection Act? The right to receive a guarantee of lifetime product performance. The right to be informed about the quality, quantity, potency, and price of goods or services. The right to receive compensation for all types of product defects without proving any fault. The right to choose to purchase only from certain brands. A company is considering a merger with another firm. Which stakeholder group would most likely be concerned about how this merger will affect the company's long-term strategy and direction? Customers a) Suppliers b) Employees c) Government d) Contd ... 2 v) I ~ , :c ""-1-" . := -~ -2- tt. vi) Assertion (A): Budget va riance analysis helps in ide . b ntifying discrepancies actual figures. etween budgeted and '." Reasoning (R): Identifying variances is not in1portant for improving future budg eting accuracy. a) Both Assertion and Reaso ning are correct b) Both Assertion an d Reasoning are incorrect c) Assertion is correct, but Reasoning is incorrect . d) Assertion is incorrec t, but Reasoning is correct vii) A company wants to increa se brand awareness and att ract new customers for a ne Which advertising strategy w product. would be most effective in rea ch ing a broad audience quick a) Direct Mail Campaign ly? b) Television Commercials c) Trade Shows d) Email t viii) A company is analy zing its expenditures and needs to decide whether to as capital or revenue. Whic classify a certain expense h question should they co nsi der to make this classificati a) Will the Expense Provide on? Benefits Beyond the Curre nt Financial Year? b) Is the Expense Part of the Company's Regular Opera tional Costs? c) ls the Expense Assodated with Seasonal Variations? d) Is the Expense Relat ed to Government Regulat ions? ix) Assertion (A): The incom e statement reflects a comp any's revenues and expense period. s over a specific Reasoning (R): The incom e statement prov:des a sna pshot of a company's finan point in time. cial position at a single a) Both Assertion and Reaso ning are correct. b) Assertion is correct, but Re asoning is incorrect. c) Assertion is incorrect, bu t Reasoning is correct. d) Both Assertion and Reaso ning are incorrect. x) In what way does modem e-commerce shopping enha nce convenience compared to traditional shopping? a) Wide Product Availabilit y b) Immediate Purchase and Delivery c) Personalized Shop ping Experience d) Social Interaction . d . xi) A business a vert1ses a pro d t as "100% natural" but uses synthetic ing redients in its production. uc . . Which consumer protectio n principle is being violat 9 ed. a) Right to Safety b) Right to Redress c) Right to Information d) Right to Choose Contd ... 3 .... .. : -Ji!. , . C ,. .. r,r J; r ' -3. . the foll owi ng exp end.1tures would be classified as capital exp end itur e rath er than Wh ich of x.ii) . reve nue exp end itur e? Pur ch~ ing Office Supplies a) b) c) d) Rep~ac1ng a Bro ken Win dow Buy ing New Ma chin ery Pay ing Mo nth ly Ren t usin g uniq ue serial can be used to trac k the stoc k of item s xiii) The _ _ _ _ mod ule of ERP with in the organization. num ber s to trace thei r curr ent location (a) Sales (b) Purchase (c) Hum an resources (d) Inv ento ry a stab le _product and pricing, ant decrease in its n1arket sha re des pite xiv) If a com pan y notices a signific tion? wha t cou ld be a potential reason and solu are irrelevant. boost revenue, as mar ket sha re issu es The com pan y sho uld increase prices to a) enh anc ing d competition; a solu tion cou ld invo lve ease incr ng faci be ht mig y pan com The b) on. marketing efforts or pro duc t differentiati ds. costs without con side ring mar ket tren on ucti prod its ce redu uld sho y pan com The t inve stig atin g c) ning its curr ent cus tom er bas e wit hou ntai mai ,m ly sole s focu uldsho y pan 1he com d) mar ket dynamics. dem e-co mm erce faced by-traditional retail stor es that mo ge llen cha ant ific sign a is at Wh xv) platforms hav e ove rcom e? Limited Ope rati ng Hours a) In-Person Pro duc t Inspection b) Personalized Sho ppin g Experience c) Customer Service Interaction d) xvi) a) b) c) d) ing event. How ol is preparing a bud get for a fun d rais Scenario: A stud ent organisation at scho ensure the suc cess of the eve nt? can the organization use budget1 ng to es to stay with in the ey needed and trac king actu al exp ens By estimating the total amo unt of mon budget. exp ens es. they hop e to raise with out con side ring By only focusing on how muc h mon ey e the eve nt more impressive. By spending as muc h as pos sibl e to mak sing onl y on future goa ls . By ignoring pas t event exp ens es and focu ,... I I I I Question 2 (8) Distinguish Between: (i) (ii) (iii) (iv) Production and Sale s Bud get Advertising and Publicity oun t Balance She et and Pro fit and Loss acc Dir ect costs and Indirect cos ts Con td ... 4 ' I . 't . ~ 1,:--: _',IA-~-- :.._~ 1 I ... ~.. , . t ; .:::.stJJ OC~ .... (81 Question 3 (i) (ii) (iii) (iv) State any two expectations of employees from a business conce rn. Mention 4 techniques of brand promotion. t m for planning How can the management of an organisation use the budgetary contro 1sys e and control? What is E-security? Question 4 (i) (ii) (iii) (iv) [81 Suggest any 4 ways society benefits from advertising. Define 'Unfair Trade Practices." E-business is a wider term than E-commerce. Explain Difference between Semi-variable and Fixed cost SECTION 8 (Attempt any four questions from this Section) Question 5 (i) (v) Explain any 5 modules of ERP. Mr. Shah reported, that his Trading Ale showe,1 a total Dr Side Rs. 190000 whereas Cr Side Rs 265000. He has an indirect interest income of Rs. 9000. His Dr Side total of profit & loss account is 40000. a) Calculate Gross Profit/ loss b) Calculate Net Profit/loss c) If his capital in the business was Rs.150000 and he withdrew Rs. 8000 cash and 6000 goods. What will be the capital at the end of the year? d) Give 2 features of the Trading account. Question 6 (i) (ii) (10) What are the rights of a consumer under the Consumer Protection Act? Write short notes on (a) Advertising Agencies (b) Deferred revenue expenditure Question 7 (i) (ii) [10] (101 Differentiate between Budget ard Forecast. What are the expectations of the Government from a business enterp rise? Contd ... 5 1 I ., ,,=1 -5- .. , Questi.on 8 (i) (ii) r r (10) "Adve. rtising is a social waste:'. o lSCUSS CIass1fy the following i t0 C . 1 for your answer. ? a~Jta, Revenue, and Deferred Revenue, reasons a) Rs 5000 ery. machin and b) p . . spent on dismantlmg, removing, and reinstalling plant re1unmary Expenses c) Replacement of the old machine with the new one d) Cost of raising a loan e) Legal expenses incurred for defending a suit of income tax. (10) Question 9 (i) (ii) What are the features of Marketing? C lassify the cost based on its nature and behavior in detail. [10) Question 10 st on 31 March, 2024 and Prepare a Trading, Profit and Loss Account of Mr. Jira for the year ending st a Balance Sheet as on 31 March,2024. l II !ij I f I Capital Drawings Trade Expenses Cash in hand Cash at bank ! Land and building Stocks as on 1-4-23 Purchase and Sales Returns Carriage Inward Carriage Outward Debtors and Creditors , Bills Receivables & Bills Pai:ab!e / Furniture & Fixtures / Discount allowed Wages i Salaries Advertisement Rent, rates and taxes Credit - 155000 I - - - - 130000 i 35000 175000 I I i 250000 2000 I - 2800 1500 f 3500 I 48000 22000 15400 1500 25000 19850 ' ==i 25000 10500 I I I - I - 15000 3500 - 442500 442500 8S st Closing Stock on 31 March, 2024 was valued at Rs. 40000. I - 9000 12000 l 750 ! 22700 1 1 Debit P/t P- i,S 1.500 2- <,~ oo \ 6~ 'l.00 **************************** ~********************

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