ISC Class 11 Syllabus 2027 Commerce

ISC YEAR 2027

INDIAN SCHOOL CERTIFICATE
EXAMINATION

COMMERCE
(857)

February 2025
____________________________________________________________________________________________

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The Council for the Indian School Certificate
Examinations is committed to serving the nation's
children, through high quality educational
endeavours, empowering them to contribute towards
a humane, just and pluralistic society, promoting
introspective living, by creating exciting learning
opportunities, with a commitment to excellence.

ETHOS OF CISCE

Trust and fair play.
Minimum monitoring.
Allowing schools to evolve their own niche.
Catering to the needs of the children.
Giving freedom to experiment with new ideas
and practices.
Diversity and plurality - the basic strength for
evolution of ideas.
Schools to motivate pupils towards the
cultivation of:
Excellence - The Indian and Global
experience.
Values - Spiritual and cultural - to be the bedrock
of the educational experience.
Schools to have an 'Indian Ethos', strong roots in
the national psyche and be sensitive to national
aspirations.

COMMERCE (857)

Aims: 3. To provide a study of the more important
1. To develop an interest in the theory and aspects of the commercial world.
practice of business, trade and industry. 4. To provide knowledge of the activities of
2. To familiarise candidates with theoretical commerce in the marketing of goods and
foundations, organising, managing and services.
handling operations of a business firm.

CLASS XI
There will be two papers in the subject:
Paper I - Theory: 3 hours ……80 marks
Paper II- Project Work ……20 marks

PAPER I- THEORY: 80 Marks

S. NO. UNIT TOTAL WEIGHTAGE

1. Nature and Purpose of Business 10 Marks

2. Forms of Business Organization 25 Marks

3. Social Responsibility of Business and Business Ethics 5 Marks

4. Emerging Modes of Business 5 Marks

5. Stock Exchange 5 Marks

6. Trade 10 Marks

7. Foreign Trade 10 Marks

8. Insurance 10 Marks

TOTAL 80 Marks

ISC Examination Year 2027 1

PAPER - I (THEORY) – 80 MARKS (b) Registration of Partnership firms.
1. Nature and Purpose of Business Formation, meaning and contents of
(i) Classification of human activities - partnership deed; registration
economic and non-economic. (c) Evaluation of partnership; merits and
Classification of human activities - demerits.
economic and non-economic. Types of Self-explanatory.
economic activities. (d) Comparison of sole proprietorship and
Distinction between business, profession partnership.
and employment.
Self-explanatory.
(ii) Definition and concept of business;
(iv) Corporate Organisations.
classification of business activities.
(a) Joint Stock Company: meaning,
Definition of business. Characteristics of
features, merits, demerits and
business. Classification of business
objectives.
activities:
(b) Stages of Formation of a Company.
(a) Industry: types of industries on the
(c) Promotion, meaning, role and types of
basis of activity (primary and promoters.
secondary) and on the basis of size
(d) Incorporation of a company -Meaning
(micro, small, medium and large).
and steps of incorporation (including
Role of small businesses in India. filing of documents), certificate of
(b) Commerce: branches of Commerce. incorporation.
Commerce - its nature and functions; (e) Memorandum of Association and
importance of Commerce. Branches of Articles of Association (excluding
Commerce - trade and aids to trade. alterations) and distinction between the
Relationship between commerce, trade two documents.
and industry. Meaning and contents of MOA and
(iii) Business objectives. AOA. Distinction between the MOA
and AOA.
Business objectives: economic; social;
(f) Commencement of business.
Role of Profit in business.
Steps, Certificate of Commencement.
2. Forms of Business Organisations (g) Prospectus and statement in lieu of
prospectus – meaning and contents
(i) Introduction to business organizations. only.
Meaning, characteristics, types (private (h) Types of companies-
sector, public sector, Public Private Public and private companies and their
Partnership (PPPs) /Joint Sector). comparative studies
Comparison between different types of (i) Global enterprises – Meaning,
organizations. characteristics, different types of global
(ii) Sole trader - merits and demerits. enterprises-meaning only.
Meaning of sole trader; characteristics of (v) Public Sector Undertakings.
sole trader; merits and demerits. (a) Meaning; characteristics, forms of
(iii) Partnership Public Sector Undertakings
(Departmental Undertakings, Public
(a) Meaning, features; types of partners Corporations and Government
and partnership firms. Companies).
Meaning of partnership; features of Public Sector Undertakings – meaning;
partnership firms; types of partners and characteristics, Forms of Public
partnerships. Sector Undertakings (Departmental
undertakings; Public Corporations and

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Government companies – definitions, 6. Trade
features.
(i) Wholesalers.
(b) Public Private Partnerships.
Meaning and services of wholesaler to
Meaning and features of PPPs. retailer, customer and producer.
(vi) Co-operative organisations - meaning; (ii) (a) Retail trade – Meaning and
characteristics and types. characteristics.
Co-operative organizations - meaning; Retail trade - meaning, characteristics
characteristics, advantages and of retail trade. Distinction between
disadvantages; Types of cooperative wholesale and retail trade.
organizations- Meaning only. (b) Types of retail trade - Itinerant and
small scale fixed shops: departmental
3. Social Responsibility of Business and store, chain store, and automatic
Business Ethics vending machines.
Concept and need for social responsibility. Meaning, features, merits and demerits
Responsibility towards owners, investors, to be covered.
consumers, employees, government and (c) Documents used in home trade.
community; Responsibility of business towards
Documents used in home trade –
protection of environment; Meaning and
inquiry; quotation; catalogues; order;
importance of Business ethics.
invoice; debit note; credit note.
4. Emerging Modes of Business Price quotations - cash discount and
trade discount.
(i) E-business.
Scope and benefits, Resources required for 7. Foreign Trade
successful e-business implementation,
online transactions, payment mechanisms, (i) Meaning, difference between internal trade
security and safety of business transactions. and external trade.
Meaning and characteristics of
(ii) E-Commerce
international trade;
Meaning of E-commerce
(ii) Export trade – Meaning, procedure of
Q- Commerce-quick commerce and export trade.
artificial intelligence-concept of quick
commerce and the integration of artificial Self-explanatory.
intelligence in emerging modes of business- (iii) Import trade – Meaning and procedure.
dark stores (in brief). Meaning and procedure.
5. Stock Exchange (iv) Documents involved in international trade.
(i) Meaning and importance. Documents involved in export trade, such
(ii) Functions and services. as: indent, letter of credit, shipping order,
(iii) Major Stock Exchanges in India (BSE, shipping bill, mate’s receipt, bill of lading,
NSE), types and locations. certificate of origin, consular invoice,
(iv) Types of operators – Brokers, Jobbers, documentary bill of exchange (DA/DP), all
Bulls and Bears. need to be explained.
(v) Terms used in Stock Exchange - ex- Documents involved in import trade, such
dividend, cum dividend, spot delivery, as: import license, indent, letter of credit,
forward delivery. documentary bill of exchange, bill of entry,
(vi) SEBI – functions and objectives. bill of sight, port trust dues receipt,
(vii) Demat account application to import, advice note, bill of
Self-explanatory lading, all need to be explained.
(v) World Trade Organisation.
WTO-meaning and objectives.

ISC Examination Year 2027 3

8. Insurance 3. Select two infrastructure projects of public
(i) Insurance – Meaning, sector undertakings that have been recently
commissioned.
Meaning, Concept of re-insurance and
double insurance. Analyze each project in terms of:
(ii) Risks in business - insurable and non- − Objectives
insurable. − Profitability
Risks in business - insurable and non- − Adherence to the time schedule for project
insurable - meaning and examples of both. completion.
Characteristics of insurable risks. − Social utility
(iii) Principles of insurance. − Conclusion.
Fundamental principles to be explained: 4. Identity two Public Private Partnership projects.
utmost good faith; insurable interest; Find out:
indemnity; contribution; doctrine of
subrogation; causa proxima. mitigation of − The equity participation of both the
loss. partners.
(iv) Types of insurance: life and non-life. − Objectives of the partnership
− Strengths both partners bring into the
Types of insurance – life, health, fire,
venture.
marine, motor, social and fidelity insurance
(Meaning) 5. Select one consumer cooperative and one
housing cooperative.
PAPER II–PROJECT WORK– 20 Marks For each of the cooperatives:
Candidates will be expected to have completed two
− State the objectives.
projects from any topic covered in Theory. The − The organizational structure.
project should preferably be hand written and a − Details of surplus distribution and the form
hard copy should be submitted by the of government support.
candidates. 6. Study real time cases in which organizations
Mark allocation for each Project [10 marks]: did not show responsibility towards investors/
consumers/ employees/ government/
Overall format 1 mark community. Take at least two such cases. For
Content 4 marks each case prepare a report based on the
Findings 2 marks following:
Viva-voce based on the Project 3 marks − A brief about of the case.
− Different issues involved in the case.
A list of suggested Projects is given below:
− Who was at fault and why?
1. Select a daily use consumer product. Trace its
− What should the company have done to
origin right from the primary industry through
stand by the business ethics?
the secondary and tertiary industries. Draw a
flow chart to include all the business activities − Do you agree with the company’s
in its path from the producer to the consumer. viewpoint? Give reasons.
2. Assume you are starting a partnership firm with 7. Document and analyze the Corporate Social
your friend/friends. Develop a business plan Responsibility activities of a pharmaceutical
covering the following aspects: company and a five-star hotel.
− Formation of this partnership firm – rules Comment on the changing role assumed by
and steps that would be followed including Corporates towards business ethics and social
the partnership deed responsibility in the last two decades.
− Choice of types of partners involved and 8. Identify any trade association and chamber of
your justification for the same. commerce headquartered in your town/city.
Study each in terms of:
ISC Examination Year 2027 4

− Its objectives. Prepare a report highlighting:
− Services provided to members. − Their contribution to the business
− Help given to the business community. community and the nation.

9. Contact an insurance agent and collect
− Their growth over the past 10 years in
India.
information about 5 different types of life
insurance policies provided by different Comment on the social cost of such
companies. Include information as per details organisations.
given below for every insurance plan and make 11. Visit a company that is involved in e-
a comparative analysis. business (which offers online services) or a
− Premium of insurance consultancy, which helps in developing
− Terms of inclusions and exclusions of each websites for such companies.
policy Study different aspects they keep in mind while
− Term of the policy preparing business plans for e-
business. Include information regarding the
− Withdrawal of money from the insurance payment mechanisms, security and safety of
scheme (surrender / foreclosure) business transactions. The risks involved in e-
− Advantages/disadvantages of the plan business should also be covered. Also include
the steps they follow while implementing the
10. Study the BPO and KPO industry in India.
plan and starting the business.
Collect newspaper/magazine articles on BPOs
and KPOs.

ISC Examination Year 2027 5