ISC Class 11 Specimen Paper for Commerce

COMMERCE
(Maximum Marks: 80)
(Time allowed: Three hours)
(Candidates are allowed additional 15 minutes for only reading the paper.
They must NOT start writing during this time.)
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Answer Question 1 from Part I and any five questions from Part II.
The intended marks for questions or parts of questions are given in brackets [ ].
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PART I (20 Marks)
Answer all questions.

Question 1 [10  2]

Answer briefly each of the questions (i) to (x).

(i) Give two differences between economic activities and non-economic activities.

(ii) What is meant by public sector undertaking?

(iii) With reference to cooperative organisations, explain the term, one man, one vote.

(iv) What is meant by implied authority of a partner?

(v) What are smart cards?

(vi) State any two functions of a Stock Exchange.

(vii) What is meant by the term business ethics?

(viii) Name two types of international trade.

(ix) What is reinsurance?

(x) What are automatic vending machines?

PART II (60 Marks)
Answer any five questions.
Question 2
(a) State any three reasons why a business concern must earn profits. [3]

(b) Explain four features of a public-sector undertaking. [4]

(c) Give five advantages of a Co-operative organisation. [5]

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Question 3

(a) Discuss any three threats to E-business transactions. [3]

(b) Distinguish between profession and employment. [4]

(c) State and explain the steps involved in the incorporation of a Company. [5]

Question 4
(a) Mention any three responsibilities of business towards the community. [3]

(b) Define a Government Company. Discuss three merits of Government company. [4]

(c) Giving suitable examples state and explain the types of industries, on the basis of [5]
their activity.

Question 5

(a) With regard to corporate organisations, explain what is meant by promotion. [3]
State any two types of promoters.

(b) Give any four points of difference between Memorandum of Association and [4]
Articles of Association.

(c) A Joint Stock Company is an artificial person; created by law having a perpetual [5]
succession and common seal. Explain the statement.

Question 6
(a) Explain any three regulatory functions of SEBI. [3]

(b) Explain the terms cash discount and trade discount. [4]

(c) What is meant by WTO? Explain any four objectives of WTO. [5]

Question 7

(a) Explain the terms insurable risk and non-insurable risk and give one example of [3]
each.

(b) Explain any four services rendered by a wholesaler to a retailer. [4]

(c) What is meant by life insurance? What is its importance in the present context? [5]

Question 8

(a) State any three characteristics of foreign trade. [3]

(b) Explain any four documents used in home trade. [4]

(c) Explain the functions of chamber of commerce. [5]

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Question 9

Write short notes on

(a) Objectives of insurance [4]

(b) Bill of entry and Bill of sight. [4]
(c) Demerits of International trade. [4]

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