Q1. A. Select the proper option from the options given below and rewrite the sentences:: (5)

1. A sole trading concern ensures ____________ business secrecy.

a. minimum

b. maximum

c. limited

2. An electronic facility of transferring funds through the internet is called __________ transfer.

a. cash

b. net banking

c. credit.

3. Business organization is a part of ________________

a. industry

b. government

c. society

4. ________________ is the President of State Commission.

a. The District Court Judge

b. The Supreme Court Judge

c. The High Court Judge

5. According to the principle of ____________ all employees should be given fair treatment.

a. authority

b. discipline

c. equity.

B. Match the correct pairs: [5]

Group 'A'	Group 'B'
a. Private Company	1. Minimum 7 members
b. Overdraft	2. Saving Account
c. ATM	3. 1996
d. Consumer Protection Act	4. Electronic Business
e. Controlling	5. Current Account
	6. Maximum 50 members
	7. Automatic Teller Machine
	8. 1986
	9. Individual Taste
	10. To take corrective action

C. Write a word or a phrase or a term which can substitute each one of the following statements: [5]

1. The business organization which has minimum ten members. [Co – operative Society]

2. The type of warehouse where early perishable goods are stored. [Cold Storage]

3. An activity motivated by profit. [Business]

4. Father of scientific management. [F.W. Taylor]

5. A function where right people are given right jobs. [Staffing]

Q2. Distinguish between the following (Any Three) [15]

1. Sole trading concern and Partnership firm

2. Road transport and Rail transport

3. Private company and Public Company

4. State commission and National Commission

5. Planning and Controlling.

Q3. Write short notes on Any Three of the following: [15]

1. Types of partners.

2. Advantages of outsourcing.

3. Rights of consumers.

4. Importance of principles of management.

5. Importance of directing.

Q4. State with reasons whether the following statements are True or False. (Any Three) [15]

1. The main purpose of a cooperative organization is to earn profit. [False]

2. Transport is useful in raising standard of living. [True]

3. It is easy to set up e – business as compared to traditional business. [True]

4. Management should avoid workers' participation while making decisions. [False]

5. Coordination is needed at all the levels of management. [True]

Q5. Attempt the following. (Any two) [10]

1. State social responsibilities of business towards government.

2. State the importance of consumer protection.

3. State any 'five principles' of management givenby Henry Fayol.

4. Sate the characteristics of an 'entrepreneur'

Q6. Define 'joint stock company'. Explain its merits anddemerits. [10]

Define 'insurance'. Explain the various principles of insurance.

OCM MARCH 2017 BOARD PAPER SOLUTION .

ORGANISATION OF COMMERCE AND MANAGEMENT FEBRUARY 2017

Q1. A. Select the proper option from the options given below and rewrite the sentences:: (5)

1. The karta in a Joint Hindy Family Business has unlimited liability.

2. Perishable goods are stored in cold storage warehouses.

3. The process of contracting a business functions to someone else is called outsourcing.

4. Businessmen are trustees of the society.

5. Government has established Lok Adalat to settle consumers’ disputes by compromise.

B. Match the correct pairs: [5]

Group ‘A’	Group ‘B’
(a) Co-operative Society	(3) One member one vote.
(b) F.W. Taylor	(5) Father of scientific management.
(c) Direction function	(1) Manager
(d) A.T.M.	(6) 24 hours service
(e) Rail transport	(4) Government owned.