Category: Class 11

Students can Download Tamil Nadu 11th Accountancy Model Question Paper 3 English Medium Pdf, Tamil Nadu 11th Accountancy Model Question Papers helps you to revise the complete Tamilnadu State Board New Syllabus, helps students complete homework assignments and to score high marks in board exams.

TN State Board 11th Accountancy Model Question Paper 3 English Medium

General Instructions:

1. The question paper comprises of four parts.
2. You are to attempt all the parts. An internal choice of questions is provided wherever applicable.
3. All questions of Part I, II, III and IV are to be attempted separately.
4. Question numbers 1 to 20 in Part I are Multiple Choice Questions of one mark each.
   These are to be answered by choosing the most suitable answer from the given four alternatives and writing the option code and the corresponding answer
5. Question numbers 21 to 30 in Part II are two-mark questions. These are to be answered in about one or two sentences.
6. Question numbers 31 to 40 in Part III are three-mark questions. These are to be answered in above three to five short sentences.
7. Question numbers 41 to 47 in Part IV are five-mark questions. These are to be answered in detail Draw diagrams wherever necessary.

Time: 3:00 Hours
Maximum Marks: 90

PART – I

Answer all the questions. Choose the correct answer: [20 × 1 = 20]

Question 1.
One of the major role of an accountant is ……………………..
(a) Record keeper
(b) Owner
(c) Employee
(d) Investors
Answer:
(a) Record keeper

Question 2.
…………………….. is the amount invested by the owner or proprietor in an organisation.
(a) Capital
(b) Drawings
(c) Goods
(d) Asset
Answer:
(a) Capital

Question 3.
………………………… is analytical in nature.
(a) Book – keeping
(b) Accounting
(c) Journal
(d) Ledger
Answer:
(b) Accounting

Question 4.
………………………. Accounts are closed at the end of accounting period.
(a) Periodicity
(b) Dual aspect
(c) Matching
(d) Cost
Answer:
(a) Periodicity

Question 5.
……………………. is a negotiable instrument.
(a) Pay – in – slip
(b) Cheque
(c) Voucher
(d) Invoice
Answer:
(b) Cheque

Question 6.
Rectifying entries are passed to make correction of errors in ……………………… accounting.
(a) Single entry
(b) Opening entry
(c) Rectifying entry
(d) Closing entry
Answer:
(c) Rectifying entry

Question 7.
A journal entry has more than one debit or more than one credit or both is called as ………………………
(a) Single entry
(b) Opening entry
(c) Compound entry
(d) Closing entry
Answer:
(c) Compound entry

Question 8.
…………………….. is normally prepared at the end of the accounting period.
(a) Trial balance
(b) Journal
(c) Ledger
(d) Proper journal
Answer:
(a) Trial balance

Question 9.
The page number of the ledger in which the supplier’s account appears is recorded in …………………….. column.
(a) Date
(b) Particulars
(c) Invoice number
(d) Ledger folio
Answer:
(d) Ledger folio

Question 10.
……………………… motivates the debtor to make the payment at an earlier date to avail discount facility.
(a) Trade discount
(b) Cash discount
(c) Sales
(d) Purchases
Answer:
(b) Cash discount

Question 11.
The two accounts involved in a transaction are cash account and bank account is called as ………………………
(a) Contra entry
(b) Single entry
(c) Compound entry
(d) Opening entry
Answer:
(a) Contra entry

Question 12.
…………………….. are recorded on the debit side of cash book.
(a) Cash receipts
(b) Cash payments
(c) Expenses paid
(d) Salary paid
Answer:
(a) Cash receipts

Question 13.
Favourable balance as per bank statement will appear as a …………………………
(a) Credit balance
(b) Debit balance
(c) Unfavourable
(d) Cash book
Answer:
(a) Credit balance

Question 14.
Sales book is overcast by ? 200 is an example of …………………………
(a) Errors of casting
(b) Principle error
(c) Compensating error
(d) Suspense account
Answer:
(a) Errors of casting

Question 15.
Fixed installment method is otherwise called ………………………….
(a) Straight line
(b) Written down value
(c) Diminishing balance
(d) Annuity
Answer:
(a) Straight line

Question 16.
……………………. gives benefit for more than one accounting period.
(a) Capital expenditure
(b) Revenue expenditure
(c) Revenue receipt
(d) None of these
Answer:
(a) Capital expenditure

Question 17.
……………………… are assets of a relatively permanent nature used in the operations of business and not intended for sale.
(a) Fixed assets
(b) Current assets
(c) Liquid assets
(d) None of these
Answer:
(a) Fixed assets

Question 18.
Goodwill is an example of ………………………
(a) Intangible fixed asset
(b) Fixed asset
(c) Current asset
(d) Furniture
Answer:
(b) Fixed asset

Question 19.
The decrease in book value of fixed assets due to usage or passage of time is called ………………………….
(a) Depreciation
(b) Prepaid
(c) Accrued
(d) Bad debts
Answer:
(a) Depreciation

Question 20.
Which one is matched correctly?
(a) Finacle – banking software
(b) DOS – programming software
(c) COBOL – operating software
(d) MS – Office – specific purpose software
Answer:
(a) Finacle – banking software

PART – II

Answer any seven questions in which question No. 21 is compulsory: [7 × 2 = 14]

Question 21.
Who are the parties interested in accounting information?
Answer:

1. Internal users and
2. External users

Question 22.
What is meant by accounting concepts?
Answer:
Accounting concepts are the basic assumptions or conditions upon which accounting has been laid. Accounting concepts are the results of broad consensus. The word concept means a notion or abstraction which is generally accepted.

Question 23.
What is real account?
Answer:
All accounts relating to tangible and intangible properties and possessions are called real accounts. In case of real accounts, the rule is debit what comes in and credit what goes out.

Question 24.
What is a ledger?
Answer:
Ledger is known as principal book of accounts. It is a book which contains all sets of accounts, namely, personal, real and nominal accounts.

Question 25.
What is trial balance?
Answer:
Trial balance is a statement containing the debit and credit balances of all ledger accounts on a particular date. It is arranged in the form of debit and credit columns placed side by side and prepared with the object of checking the arithmetical accuracy of entries made in the books of accounts and to facilitate preparation of financial statements.

Question 26.
Give the format of Purchase Book?
Answer:

Question 27.
What is Cash discount?
Answer:
Cash discount is allowed to the parties making prompt payment within the stipulated period of time or early payment. It is discount allowed (loss) for the creditor and discount received (gain) for the debtor who makes payment.

Question 28.
Rectify the following errors?

1. Sales book was undercast by ₹100.
2. Purchases returns book was overcast by ₹200.

Answer:

1. Sales account should be credited with ₹100.
2. Purchases returns account should be debited with ₹200

Question 29.
A company purchased a building for ₹50,000. The useful life of the building is 10 years and the residual value is ₹2000. Find out the amount and rate of depreciation under straight line method?
Answer:

Question 30.
From the following information, prepare Trading account for the year ended 31.12.2016. Opening stock ₹10,000; Purchases ₹26,100; Sales ₹40,600; Closing Stock ₹13,500?
Answer:

PART – III

Answer any seven questions in which question No. 31 is compulsory: [7 × 3 = 21]

Question 31.
What are the components of computerised accounting system?
Answer:

1. Hardware
2. Software
3. People
4. Procedure
5. Data and
6. Connectivity

Question 32.
The following are the extracts from the trial balance. Sundry debtors ₹30,000; bad debts ₹5,000;
Additional information:

1. Write off bad debts ₹3,000.
2. Create 10% provision for bad and doubtful debts. You are required to pass necessary adjusting entries and show how these items will appear in profit and loss account and balance sheet.

Answer:

Question 33.
Classify the following items into capital and revenue:

1. ₹50,000 spent for railway siding.
2. Loss on sale of old furniture.
3. Carriage paid on goods sold.

Answer:

1. Capital
2. Revenue
3. Revenue

Question 34.
A firm purchased a plant on 01.01.2018 for ₹9,000 and spent ₹1,000 as erection charges. Calculate the amount of depreciation for the year 2018 @ 15% per annum under the written down value method. Accounts are closed on 31^st March every year?
Answer:
Original cost = 9,000 + 1,000 = 10,000
Rate of depreciation = 15%
Date of purchase = 01.01.2018
Number of months used = 01.01.2018 to 3 1.03.2018 = 3 months
Amount of depreciation = 15% on 10,000 for 3 months
= 10,000 × 15/100×3/12
= ₹375.

Question 35.
Rectify the following errors discounted after the preparation of the trial balance:

1. Rent paid was carried forward to the next page ₹500 short.
2. Wages paid was carried forward ₹250 excess.
3. The sales book was overcast by ₹1,500.

Answer:

1. Rent account should be debited with ₹500.
2. Wages account should be credited with ₹250.
3. Sales account should be debited with ₹1,500.

Question 36.
Expand the following terms:

1. ATM
2. CDM
3. POS
4. NEFT
5. RTGS
6. L.F

Answer:

1. Automated Teller Machine (ATM)
2. Cash Deposit Machine (CDM)
3. Point of Sale (POS)
4. National Electronic Funds Transfer (NEFT)
5. Real Time Gross Settlement (RTGS)
6. Ledger folio (L.F.)

Question 37.
Complete the followings:

1. Total of debit > Total of credit = ?
2. Total of credit > Total of debit = ?
3. Total of debit = Total of credit = ?

Answer:

1. Debit balance
2. Credit balance
3. Nil balance

Question 38.
Define bill of exchange?
Answer:
According to the Negotiable Instruments Act, 1881, “Bill of exchange” is an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of a certain person or to the bearer of the instrument.

Question 39.
Write any three advantages of Petty cash book?
Answer:

1. There can be better control over petty payments.
2. There is saving of time of the main cashier.
3. Cash book is not loaded with many cash payments.

Question 40.
From the followings prepare a bank reconciliation statement of Jayakumar as on 31^st December, 2016?

1. Balance as per cash book ₹7,130.
2. Cheque deposited but not cleared ₹1,000.
3. A customer has deposited ₹800 into the bank directly.

Answer:

PART – IV

Answer all the questions: [7 × 5 = 35]

Question 41 (a).
Complete the missing informations:

Answer:

[OR]

(b) Prepare Ledger accounts directly from the following informations:

Answer:

Question 42 (a).
Show the effect of following business transactions on the accounting equation:

1. Anbu started business with cash ₹20,000; goods ₹12,000; and machine ₹8,000;
2. Goods purchased from Ramani on credit ₹7,000;
3. Payment made to Ramani’s in full settlement ₹6,900;
4. Sold goods to Rajan on credit costing ₹5,400 for ₹6,000;

Answer:

(b) From the following balances extracted from the books of Raj an a trader on automobiles, prepare Trial Balance as on 31^stMarch, 2017?

Answer:

Question 43 (a).
Prepare Purchases Book and Sales Book in the books of Santhosh Textiles Ltd., from the following transactions given for April, 2017?

Answer:

[OR]

(b) Enter the following transactions in a single column Cash Book of Pradeep for April, 2017?

Answer:

Question 44 (a).
From the following data, ascertain the cash book balance as on 31^st December, 2017?

Answer:

[OR]

(b) Pass journal entries to rectify the following errors located after the preparation of the trial balance. Assume that there exists a suspense account?

1. The total of sales book was undercast by ₹2,000.
2. The purchase of machinery for ₹3,000 was entered in the purchases book.
3. A credit sale of goods for ₹45 to Mathi was posted in his account as ₹54.
4. The purchases returns book was overcast by ₹200.
5. The total of sales book ₹1,122 were wrongly posted in the ledger as ₹1,222.

Answer:

Question 45 (a).
M/s Ramco Textile Mills purchased machinery on 1^st April, 2014 for 2,00,000 on credit from M/s. Nila and Co., and spent ₹10,000 on its installation. Depreciation is provided at 10% per annum on the written down value method. Prepare machinery account and depreciation account for the first three years. Books are closed on 31^st March every year?
Answer:

[OR]

(b) State whether the following are capital or revenue items:

1. ₹5,000 spent towards addition to buildings.
2. Second-hand motor car purchased for ₹30,000 and paid ₹2,000 as repairs immediately.
3. ₹10,000 was spent on painting the new factory.
4. Freight and cartage on the new machine ₹150, erection charges ₹200.
5. ₹150 spent on repairs before using a second-hand car purchased recently.

Answer:

1. Capital expenditure
2. Capital expenditure
3. Capital expenditure
4. Capital expenditure
5. Capital expenditure

Question 46 (a).
From the following particulars, prepare Profit and Loss account for the year ended 31^st December, 2017?

Answer:

[OR]

(b) What are the features of Capital Expenditure?
Answer:
The following are the features of Capital expenditure:

1. It gives benefits for more than one accounting period.
2. It includes acquisition of fixed assets and all expenditure incurred upto the point an asset is ready for use.
3. It contributes to the revenue earning capacity of the business.
4. It is non-recurring in nature.
5. It is shown on the assets side of the balance sheet.

Question 47 (a).
The following balances were extracted from the books of Thomas as on 31^st March, 2018. Dr?

Adjustments:

1. Closing Stock ₹9,000.
2. Provide depreciation @ 10% on machinery.
3. Interest accrued on investments ₹2,000

Prepare Trading A/c, Profit and Loss A/c and Balance Sheet as on 31^st March, 2018. In the Books of Thomas
Dr. Trading A/c and Profit and Loss Account for the year ended 31^st March, 2018 Cr.

Answer:

[OR]

(b) Write any five advantages of computerised accounting system?
Answer:

• Faster Processing: Computers require far less time than human beings in performing a particular task. Therefore, accounting data are processed faster using a computerised accounting system.
• Accurate Information: There is less space for error because only one account entry is needed for each transaction unlike repeated posting of the same accounting data in manual system.
• Reliability: Computer systems are immune to boredom, tiredness or fatigue. Therefore, these can perform repetitive functions effectively and are highly reliable.
• Easy Availability of Information: The data are easily available and can be communicated to different users at the same time.
• Up-to-date Information: Account balances will always be up-to-date since the records are automatically updated as and when accounting data are entered or stored.

Students can Download Tamil Nadu 11th Accountancy Model Question Paper 2 English Medium Pdf, Tamil Nadu 11th Accountancy Model Question Papers helps you to revise the complete Tamilnadu State Board New Syllabus, helps students complete homework assignments and to score high marks in board exams.

TN State Board 11th Accountancy Model Question Paper 2 English Medium

General Instructions:

1. The question paper comprises of four parts.
2. You are to attempt all the parts. An internal choice of questions is provided wherever applicable.
3. All questions of Part I, II, III and IV are to be attempted separately.
4. Question numbers 1 to 20 in Part I are Multiple Choice Questions of one mark each.
   These are to be answered by choosing the most suitable answer from the given four alternatives and writing the option code and the corresponding answer
5. Question numbers 21 to 30 in Part II are two-mark questions. These are to be answered in about one or two sentences.
6. Question numbers 31 to 40 in Part III are three-mark questions. These are to be answered in above three to five short sentences.
7. Question numbers 41 to 47 in Part IV are five-mark questions. These are to be answered in detail Draw diagrams wherever necessary.

Time: 3:00 Hours
Maximum Marks: 90

PART – I

Answer all the questions. Choose the correct answer: [20 × 1 = 20]

Question 1.
Which one of the following is not a branch of accounting?
(a) Financial accounting
(b) Management accounting
(c) Human resources accounting
(d) None of the above
Answer:
(d) None of the above

Question 2.
Financial position of a business is ascertained on the basis of ……………………….
(a) Journal
(b) Trial balance
(c) Balance sheet
(d) Ledger
Answer:
(c) Balance sheet

Question 3.
The profounder of double entry system of book – keeping?
(a) J.R. Batli boi
(b) Luca Pacioli
(c) Old Kesal
(d) Menhar
Answer:
(b) Luca Pacioli

Question 4.
The concept which assumes that a business will last indefinitely is ………………………..
(a) Business entity
(b) Going concern
(c) Periodicity
(d) Conservation
Answer:
(b) Going concern

Question 5.
A firm has assets of ₹1,00,000 and the external liabilities of ₹60,000. Its capital would be ………………………….
(a) ₹1,60,000
(b) ₹60,000
(c) ₹1,00,000
(d) ₹40,000
Answer:
(d) ₹40,000

Question 6.
The incorrect accounting equation is ………………………
(a) Assets = Liabilities + Capital
(b) Assets = Capital + Liabilities
(c) Liabilities = Assets + Capital
(d) Capital = Assets – Liabilities
Answer:
(c) Liabilities = Assets + Capital

Question 7.
J.F means ………………………….
(a) Ledger page number
(b) Journal page number
(c) Voucher number
(d) Order number
Answer:
(b) Journal page number

Question 8.
The process of finding the net amount from the totals of debit and credit columns in a ledger is known as ……………………….
(a) Casting
(b) Posting
(c) Journalising
(d) Balancing
Answer:
(d) Balancing

Question 9.
The trial balance contains the balances of ………………………..
(a) Only personal accounts
(b) Only real account
(c) Only nominal accounts
(d) All accounts
Answer:
(d) All accounts

Question 10.
Which of the following is/are the objective(s) of preparing trial balance?
(a) Serving as the summary of all the ledger accounts.
(b) Helping in the preparation of final accounts.
(c) Examining arithmetical accuracy of accounts.
(d) (a), (b) and (c)
Answer:
(d) (a), (b) and (c)

Question 11.
Sales book is used to record ……………………..
(a) All sales of goods
(b) All credit sales of assets
(c) All credit sales of goods
(d) All sales of assets and goods
Answer:
(c) All credit sales of goods

Question 12.
The total of the sales book is posted periodically to the credit of ………………………
(a) Sales account
(b) Cash account
(c) Purchases account
(d) Journal proper
Answer:
(a) Sales account

Question 13.
When a firm maintains a simple cash book, it need not maintain ………………………..
(a) Sales a/c in the ledger
(b) Purchases a/c in the ledger
(c) Capital a/c in the ledger
(d) Cash a/c in the ledger
Answer:
(d) Cash a/c in the ledger

Question 14.
Debit balance in the bank column of the cash book means …………………………
(a) Credit balance as per bank statement
(b) Debit balance as per bank statement
(c) Overdraft as per cash book
(d) None of the above
Answer:
(a) Credit balance as per bank statement

Question 15.
The difference in trial balance is taken to ……………………….
(a) The capital a/c
(b) The trading a/c
(c) The suspense a/c
(d) The Profit and loss a/c
Answer:
(c) The suspense a/c

Question 16.
Under the written down value method of depreciation, the amount of depreciation is …………………………
(a) Uniform in all the years
(b) Decreasing every year
(c) Increasing every year
(d) None of the above
Answer:
(b) Decreasing every year

Question 17.
Interest on bank deposits is ………………………..
(a) Capital receipt
(b) Revenue receipt
(c) Capital expenditure
(d) Revenue expenditure
Answer:
(b) Revenue receipt

Question 18.
Net profit of the business increases the …………………………
(a) Drawings
(b) Receivables
(c) Debts
(d) Capital
Answer:
(d) Capital

Question 19.
Closing stock is valued at ………………………
(a) Cost price
(b) Market price
(c) Cost price or market price whichever is higher
(d) Cost price or net realisable value whichever is lower
Answer:
(d) Cost price or net realisable value whichever is lower

Question 20.
Which one is not a component of computer system?
(a) Input unit
(b) Output unit
(c) Data
(d) CPU
Answer:
(c) Data

PART – II

Answer any seven questions in which question No. 21 is compulsory. [7 × 2 = 14]

Question 21.
Mention two objectives of Accounting?
Answer:

1. To keep a systematic record of financial transactions and events.
2. To ascertain the profit or loss of the business enterprise.

Question 22.
What is Compound entry?
Answer:
Compound entry is an entry in which more than two accounts are involved. Either more than one account is debited or more than one account is credited or both.

Question 23.
What is Balance method?
Answer:
In this method, the balance of every ledger account either debit or credit, as the case may be, is recorded in the trial balance against the respective accounts. The balance method is widely used, as it helps in the preparation of financial statements.

Question 24.
Who is drawee?
Answer:
The person who has to make the payment or who accepts to make the payment is called the drawee, i.e., a debtor.

Question 25.
What are the types of petty cash book?
Answer:

1. Simple petty cash book
2. Analytical petty cash book.

Question 26.
Write two examples for error of principle?
Answer:

1. Sale of old furniture on credit for ₹500 was entered in the sales book.
2. Wages of ₹600 paid for installation of a new machine is debited to wages account,

Question 27.
Write any two objectives of providing depreciation?
Answer:

1. To find out the true profit or loss.
2. To present the true and fair view of financial position.

Question 28.
Write any two examples of revenue receipt?
Answer:

1. Rent received
2. Proceeds from sale of goods.

Question 29.
What is outstanding expenses?
Answer:
Expenses which have been incurred in the accounting period but not paid till the end of the accounting period are called outstanding expenses.

Question 30.
Write any four features of computerised accounting system (CAS)?
Answer:

1. Simple and integrated
2. Speed
3. Accuracy
4. Reliability

PART – III

Answer any seven questions in which question No. 31 is compulsory. [7 × 3 = 21]

Question 31.
Explain the meaning of accounting?
Answer:
Accounting is the systematic process of identifying, measuring, recording, classifying, summarising, interpreting and communicating financial information. Accounting gives information on;

1. The resources available
2. How the available resources have been employed, and
3. The results achieved by their use.

Question 32.
Show accounting equation from the following information:

1. Started business with cash ₹80,000.
2. Goods bought on credit from Raj ₹10,000.
3. Purchased furniture for cash ₹6,000.

Answer:

Question 33.
Enter the following transactions in a single column cash book of Pandeeswari for the month of June, 2017?

Answer:

Question 34.
Prepare a Sales Account from the following transactions?

Answer:

Question 35.
From the following balances of Arjun, prepare the Trial Balance as on 31^st March, 2018?
Answer:

Question 36.
From the following particulars of Siva and Company, prepare a bank reconciliation statement as on 31^st December, 2017?

1. Credit balance as per cash book ₹12,000.
2. A cheque of ₹1,200 issued and presented for payment to the bank, wrongly credited in the cash book as ₹2,100.
3. Debit side of bank statement was undercast by ₹100.

Answer:

Question 37.
The following errors was detected before preparation of trial balance. Rectify them?

1. The total of rent received account is carried forward ₹900 short.
2. The total of salary account is carried forward ₹1,100 short.
3. Sales returns book is over cast ₹800.

Answer:

1. Rent received account is to be credited with ₹900.
2. Salary account is to be debited with ₹1,100.
3. Sales returns account should be credited with ₹800.

Question 38.
Find out the rate of depreciation under straight line method from the following details: Original cost of the asset ₹10,000; Estimated life of the asset 10 years; Estimated scrap value at the end ₹2,000?
Answer:

Question 39.
State whether they are capital and revenue:

1. Construction of buildings ₹10,00,000.
2. Repairs to furniture ₹50,000.
3. White – washing the building ₹80,000.

Answer:

1. Capital expenditure
2. Revenue expenditure
3. Revenue expenditure

Question 40.
Pass adjusting entries for the following?

1. The Closing stock was valued at ₹5,000;
2. Outstanding salaries ₹150;
3. Insurance prepaid ₹450;

Answer:

PART – IV

Answer all the questions. [7 × 5 = 35]

Question 41 (a).
Bragathish is a trader dealing in electronic goods who commenced his business in 2015, for the following transactions took place in the month of March, 2018. Pass Journal entries?

Answer:

[OR]

(b) The following errors were located after the preparation of the trial balance. Assume that there exists a suspense account. Pass journal entries to rectify them?

1. The total of purchases book was undercast by ₹100.
2. The total of the discount column on the debit side of cash book ₹575 were not posted.
3. The total of one page of the sales book for ₹5,975 were carried forward to the next page as ₹5,795.
4. Salaries ₹1,800 were posted as ₹18,000.
5. Purchase of goods on credit from Mukilan for ₹150 have been posted to his account as ₹1,500.

Answer:

Question 42 (a).
Show the effect of following business transactions on the accounting equation:

1. Anbu started business with cash ₹20,000; goods ₹12,000 and machine ₹8,000.
2. Purchased goods from Ramani on credit ₹7,000.
3. Payment made to Ramani in full settlement ₹6,900.
4. Sold goods to Raj an on credit costing ₹5,400 for ₹6,000.
5. Received from Raj an ₹5,800 in full settlement of his account.

Answer:

(b) A furniture costing ₹5,000 was purchased on 01.01.2016, the installation charges being ₹1,000. The furniture is to be depreciated @ 10% p.a. on the diminishing balance method. Pass Journal entries for the first two years?
Answer:

Question 43 (a).
Journalise the following transactions and past them to the ledger?

Answer:

[OR]

(b) Classify the following receipts into capital or revenue?

1. Sale proceeds of goods ₹75,000
2. Loan borrowed from hank ₹2,50,000
3. Sale of investment ₹1,20,000
4. Commission received ₹30,000
5. ₹1,400 wages paid in connection with the erection of new machinery

Answer:

1. Revenue
2. Capital
3. Capital
4. Revenue
5. Capital

Question 44 (a).
Prepare trail balance as on 31^st January, 2017?

Answer:

(b) From the following information, prepare Trading and Profit & Loss A/c of Abdul Rahuman for the year ending 31^st December, 2016 and Balance Sheet as on that date. The closing stock on 31^st December, 2016 was valued ₹2,000?

Answer:

Question 45 (a).
Prepare purchase book and Purchase returns book from the following of Robert Funiture Mart?

Answer:

[OR]

(b) The following trial balance was extracted from the books of Arun Traders as on 31^st March, 2018?

Adjustments:

1. Depreciate plant & machinery @ 20%.
2. Wages outstanding amounts to ₹750.
3. Half of repairs and maintenance paid is for the next year.
4. Closing stock was valued at ₹15,000.
   Prepare Trading and Profit and Loss A/c for the year ending 31^st March, 2018 and Balance sheet as on that date.

Answer:

Question 46 (a).
Prepare Three Column Cash book in the books of Thiru Durairaj?

Answer:

[OR]

(b) Enter the following transactions in Ahamed’s Cash book discount and Cash columns?

Answer:

Question 47 (a).
From the following particulars of Raheem traders, prepare a bank reconciliation statement as on 31^st March, 2018?

1. Overdraft as per cash book ₹2,500.
2. Debit side of cash book was undercast by ₹700.
3. Amount received by bank through RTGS amounting ₹2,00,000 omitted in the cash book.
4. Two cheques issued for ₹1,800 and ₹2,000 on 29^th March 2018. Only the second cheque is presented for payment,
5. Insurance premium on car for ₹1,000 paid by the bank as per standing instructions not recorded in the cash book.

Answer:

[OR]

(b) Prepare an analytical petty cash book under imprest system?

Answer:

Students can Download Tamil Nadu 11th Accountancy Model Question Paper 1 English Medium Pdf, Tamil Nadu 11th Accountancy Model Question Papers helps you to revise the complete Tamilnadu State Board New Syllabus, helps students complete homework assignments and to score high marks in board exams.

TN State Board 11th Accountancy Model Question Paper 1 English Medium

General Instructions:

1. The question paper comprises of four parts.
2. You are to attempt all the parts. An internal choice of questions is provided wherever applicable.
3. All questions of Part I, II, III and IV are to be attempted separately.
4. Question numbers 1 to 20 in Part I are Multiple Choice Questions of one mark each.
   These are to be answered by choosing the most suitable answer from the given four alternatives and writing the option code and the corresponding answer
5. Question numbers 21 to 30 in Part II are two-mark questions. These are to be answered in about one or two sentences.
6. Question numbers 31 to 40 in Part III are three-mark questions. These are to be answered in above three to five short sentences.
7. Question numbers 41 to 47 in Part IV are five-mark questions. These are to be answered in detail Draw diagrams wherever necessary.

Time: 3:00 Hours
Maximum Marks: 90

PART – I

Answer all the questions. Choose the correct answer: [20 × 1 = 20]

Question 1.
Which one is the function of Accounting?
(a) Decision making
(b) Systematic records
(c) Legal evidence
(d) Preparation of balance sheet
Answer:
(a) Decision making

Question 2.
………………….. is the capability of a person or an enterprise to pay the debts.
(a) Solvency
(b) Creditor
(c) Bad debts
(d) Income
Answer:
(a) Solvency

Question 3.
The first step in the accounting process is …………………….. and recording.
(a) Book – keeping
(b) Identifying
(c) Accountancy
(d) Journal
Answer:
(b) Identifying

Question 4.
………………………. concept implies that only those transactions, which can be expressed in terms of money are recorded in the accounts.
(a) Money measurement concept
(b) Business entity concept
(c) Going concern concept
(d) Cost concept
Answer:
(a) Money measurement concept

Question 5.
CDM expands ……………………..
(a) Cash Deposit Machine
(b) Credit Debts Method
(c) Commerce Document Mode
(d) None of these
Answer:
(a) Cash Deposit Machine

Question 6.
Which one is the owner’s equity?
(a) Creditors
(b) Bank
(c) Capital
(d) Debtors
Answer:
(c) Capital

Question 7.
The process of recording in the ledger is called ………………………
(a) Journal
(b) Journalising
(c) Ledger
(d) Posting
Answer:
(d) Posting

Question 8.
Total of debit = Total of credit = ?
(a) Debit balance
(b) Credit balance
(c) Nil balance
(d) To balance bld
Answer:
(c) Nil balance

Question 9.
Which one is in correct order (ascending)?
(a) Journal, ledger, trial balance
(b) Trial balance, journal, ledger
(c) Ledger, journal, trial balance
(d) Trial balance, ledger, journal
Answer:
(a) Journal, ledger, trial balance

Question 10.
Subsidiary books (special journal) for entering ……………………..
(a) Cash transactions
(b) Non – cash transactions
(c) Both
(d) Journal proper
Answer:
(b) Non – cash transactions

Question 11.
………………………. serves as both journal and ledger.
(a) Cash book
(b) Sales book
(c) Purchases book
(d) All of these
Answer:
(a) Cash book

Question 12.
Cash book shows debit balance means ……………………..
(a) Favourable balance
(b) Overdraft
(c) Negative balance
(d) None of these
Answer:
(a) Favourable balance

Question 13.
The total of sales book ₹9,240 was debited in the sales account as ₹9,420.
(a) Error of commission
(b) Error of omission
(c) Error of partial omission
(d) Error of principle
Answer:
(a) Error of commission

Question 14.
……………………… assets have a long span of life.
(a) Bank
(b) Cash
(c) Debtors
(d) Fixed assets
Answer:
(d) Fixed assets

Question 15.
The amount of depreciation goes on decreasing year after year …………………….
(a) Revaluation method
(b) Written down value method
(c) Straight line method
(d) Depletion method
Answer:
(b) Written down value method

Question 16.
Overhaul expenses is an example for …………………………
(a) Capital expenditure
(b) Revenue expenditure
(c) Deferred revenue expenditure
(d) Capital receipts
Answer:
(a) Capital expenditure

Question 17.
……………………….. is the arrangement of various assets and liabilities in a proper order.
(a) Marshalling
(b) Balance sheet
(c) Assets
(d) Liabilities
Answer:
(a) Marshalling

Question 18.
Income tax paid by the business is not a business expenditure and is treated as ………………………..
(a) Capital
(b) Drawings
(c) Revenue
(d) Expense
Answer:
(b) Drawings

Question 19.
……………………….. is the programming software.
(a) DOS
(b) Windows
(c) UBUNTU
(d) PASCAL
Answer:
(d) PASCAL

Question 20.
………………………. is the application software.
(a) PASCAL
(b) COBOL
(c) DOS
(d) MS – Office
Answer:
(d) MS – Office

PART – II

Answer any seven questions in which question No. 21 is compulsory: [7 × 2 = 14]

Question 21.
Define Accounting?
Answer:
American Accounting Association has defined accounting as “the process of identifying, measuring and communicating economic information to permit informed judgements and decisions by users of the information.”

Question 22.
What are source documents?
Answer:
Source documents are the authentic evidences of financial transactions. These documents show the nature of transactions the date, the amount and the parties involved. Source documents include cash receipts, invoice, debit note, credit note, pay-in-slip, salary bills, wage bills, cheque record slips etc.

Question 23.
What are the methods of preparation of trial balance?
Answer:

1. Balance method
2. Total method
3. Total and balance method

Question 24.
Mention four types of subsidiary books?
Answer:

1. Purchases book
2. Sales book
3. Purchases return book
4. Sales return book

Question 25.
What is meant by Bank overdraft?
Answer:
It is not possible to have unfavourable cash balance in the cash book. But, it is possible to have unfavourable balance in the bank account. When the business is not having sufficient money in its bank account, it can borrow money from the bank.

Question 26.
What is meant by rectification of errors?
Answer:
Correction of errors in the books of accounts is not done by erasing, rewriting or striking the figures which are incorrect. Correcting the errors that has occured is called rectification. Appropriate entry is passed or suitable explanatory note is written in the respective account or accounts to neutralise the effect of errors.

Question 27.
What is meant by depreciation?
Answer:
The process of allocation of the relevant cost of fixed asset over its useful life is known as depreciation. It is an allocation of cost against the benefit derived from a fixed asset during an accounting period.

Question 28.
What is meant by revenue expenditure?
Answer:
The expenditure incurred for day to day running of the business or for maintaining the earning capacity of the business is known as revenue expenditure. It is recurring in nature. It is incurred to generate revenue for a particular accounting period.

Question 29.
Prepare Trading account in the books of Siva Shankar from the following figures:
Opening Stock ₹1,500; Šales ₹4,600; Purchases ₹3,500; Closing Stock ₹1,300:
Answer:

Question 30.
What is CAS?
Answer:
Computerised Accounting System (CAS) refers to the system of maintaining accounts using computers. It involves the processing of accounting transactions through the use of hardware and software in order to keep and produce accounting records and reports.

PART – III

Answer any seven questions in which question No. 31 is compulsory: [7 × 3 = 21]

Question 31.
How can we classify the components of CAS?
Answer:

1. Hardware
2. Software
3. People
4. Procedure
5. Data
6. Connectivity

Question 32.
Classify the following items into capital or revenue?

1. ₹50,000 spent for railway siding.
2. Loss on sale of old furniture ₹200.
3. Carriage paid on goods sold ₹500.

Answer:

1. Capital
2. Revenue
3. Revenue

Question 33.
An asset is purchased for ₹50,000. The rate of depreciation is 15% p.a. Calculate the annual depreciation for the first two years under diminishing balance method?
Answer:
Caluculation of depreciation for first two years. (On diminishing balance method).

Question 34.
On 1^st January, 2016, provision for doubtful debts account had a balance of ₹3,000. On December 31, 2016 sundry debtors amounted to ₹80,000. During the year, bad debts
to be written off were ₹2,000. A provision for 5% was required for next year. Pass adjusting journal entries?
Answer:

Question 35.
The following errors were located after the preparation of the trial balance. Rectify them.

1. Paid ₹50 to Anitha was wrongly debited to Vanitha account.
2. Sale of furniture for ₹500 was credited to sales account.
3. Purchased goods from Natarajan on credit for ₹750 was wrongly passed through sales book.

Answer:

Question 36.
From the following particulars of Siva and company, prepare a bank reconciliation statement as on 31^st December, 2017.

1. Credit balance as per cash book ₹12,000.
2. A cheque of ₹1,200 issued and presented for payment to the bank, wrongly credited in the cash book as ₹2,100.
3. Debit side of bank statement was undercast by ₹100.

Answer:
Bank Reconciliation Statement of Siva & company as on 31^st December, 2017

Question 37.
Enter the following transactions in a single column cash book of Seshadri for May, 2017?

Answer:

Question 38.
Prepare the trial balance from the following information:
Bank loan ₹3,00,000; Stock ₹2,70,000; Capital ₹2,50,000; Purchases ₹1,80,000; Debtors ₹4,00,000; ₹Sales 3,00,000.
Answer:

Question 39.
Prepare Anand’s account from the following data:

Answer:

Question 40.
Complete the followings:

Answer:
Completed informations:

PART – IV

Answer all the questions: [7 × 5 = 35]

Question 41 (a).
Mr. Vivek took a loan of ₹2,00,000 from State Bank of India, Chennai and number of installments is 84 months. Calculate the rate assuming payments ₹3,300 per month using appropriate function?
Answer:
Procedure:
1. Open a new spread sheet in MS – Excel

2. Enter values in the cells as given below

3. Compare RATE in the cell B6 by the formula
= RATE (B1, B2, B3, B4, B5) * 12
Answer 10%

[OR]

(b) From the following information, prepare bank reconciliation statement as on 31^st December, 2017 to find out the balance as per bank statement?

Answer:

Question 42 (a).
From the following information prepare an analytical Petty cash book under imprest system?

Answer:

[OR]

(b) Rectify the following errors assuming that the trial balance is yet to be prepared?

1. Sales book was undercast by ₹400.
2. Sales returns book was overcast by ₹500.
3. Purchases book was undercast by ₹600.
4. Purchases returns book was overcast by ₹700.
5. Bills receivable book was undercast by ₹800.

Answer:

1. Sales account should be credited with ₹400.
2. Sales returns account should be credited with ₹500.
3. Purchases account should be debited with ₹600.
4. Purchases returns account should be debited with ₹700.
5. Bills receivable account should be debited with ₹800.

Question 43 (a).
From the following transactions prepare three column cash book of Udhayakumar?

Answer:

[OR]

(b) Ramu Brothers purchased a machine on 1^st July 2016 at a cost of ₹14,000 and spent ₹1,000 on its installation. The firm writes off depreciation at 10% of original cost every year. The books are closed on 31^st December every year. Give journal entries and prepare machinery account and depreciation account for 2 years?
Answer:

Question 44 (a).
Prepare necessary subsidiary books in the books of Niranjan from the following transactions for the month of February, 2017?

Answer:

(b) Classify the following receipts into capital and revenue?

1. Sale proceeds of goods ₹75,000.
2. Loan borrowed from bank ₹2,50,000.
3. Sale of investment ₹1,20,000.
4. Commission received ₹30,000.
5. ₹1,400 wages paid in connection with the erection of new machinery.

Answer:

1. Revenue
2. Capital
3. Capital
4. Revenue
5. Capital

Question 45 (a).
Prepare the trial balance from the following balances of Babu as on 31^st March, 2016?

Answer:

(b) From the following information, prepare Profit & Loss account for the year ending 31^st December,2016?

Answer:

Question 46 (a).
Prepare Anand’s account from the following details?

Answer:

[OR]

(b) From the following adjustments, pass adjusting entries?

1. Outstanding wages ₹5,000.
2. Depreciation on machinery ₹1,000.
3. Interest on capital @ 5% on capital ₹20,000.
4. Interest on drawings ₹50.
5. Write off bad debts ₹500.

Answer:

Question 47 (a).
Pass Journal entries for the following transactions for the month of March, 2018?

Answer:

[OR]

(b) Prepare accounting equation from the following transactions and show balance sheet also?

1. Raj started business with cash ₹40,000.
2. Opened bank account with a deposit of ₹30,000.
3. Bought goods from Han on credit for ₹12,000
4. Raj withdrew cash for personal use ₹1,000.
5. Bought furniture by using debit card ₹10,000.

Answer:

Students can Download Tamil Nadu 11th Commerce Model Question Paper 5 English Medium Pdf, Tamil Nadu 11th Commerce Model Question Papers helps you to revise the complete Tamilnadu State Board New Syllabus, helps students complete homework assignments and to score high marks in board exams.

TN State Board 11th Commerce Model Question Paper 5 English Medium

General Instructions:

1. The question paper comprises of four parts.
2. You are to attempt all the parts. An internal choice of questions is provided wherever applicable.
3. All questions of Part I, II, III and IV are to be attempted separately.
4. Question numbers 1 to 20 in Part I are Multiple Choice Questions of one mark each.
   These are to be answered by choosing the most suitable answer from the given four alternatives and writing the option code and the corresponding answer
5. Question numbers 21 to 30 in Part II are two-mark questions. These are to be answered in about one or two sentences.
6. Question numbers 31 to 40 in Part III are three-mark questions. These are to be answered in above three to five short sentences.
7. Question numbers 41 to 47 in Part IV are five-mark questions. These are to be answered in detail Draw diagrams wherever necessary.

Time: 2:30 Hours
Maximum Marks: 90

PART – I

Choose the correct answer. Answer all the questions. [20 × 1 = 20]

Question 1.
The document which authorises to deliver the goods either in part or full is called …………………..
(a) Warehouse warrant
(b) Dock receipt
(c) Dock warrant
(d) None of these
Answer:
(c) Dock warrant

Question 2.
Which of the following is not correctly matched?
(a) Franchisee – An agent who buys the accounts receivables
(b) Factor – Trade mark of the seller
(c) Logistics – Knowledge process outsourcing
(d) BPO – Extension of transportation
Answer:
(d) BPO – Extension of transportation

Question 3.
WTO was established on ……………………..
(a) 1-1-1996
(b) 1-1-1997
(c) 1-1-1995
(d) 1-1-1994
Answer:
(c) 1-1-1995

Question 4.
Charter Party is a document related to which of the following transport?
(a) Air Transport
(b) Ocean Transport
(c) Railway Transport
(d) Motor transport
Answer:
(b) Ocean Transport

Question 5.
Charter party may also be known as ………………………
(a) Bill of lading
(b) Voyage charter
(c) Airway note
(d) Way bill
Answer:
(b) Voyage charter

Question 6.
Occupation of a bank official is …………………………
(a) Employment
(b) Business
(c) Profession
(d) Sole trader
Answer:
(a) Employment

Question 7.
Who is not an intermediary in the export trade from the following?
(a) Indent house
(b) Forwarding agent
(c) Commission agent
(d) Export trading house
Answer:
(a) Indent house

Question 8.
What is IGST?
(a) Integrated Goods and Services Tax
(b) Indian Goods and Services Tax
(c) Initial Goods and Services Tax
(d) All the above
Answer:
(a) Integrated Goods and Services Tax

Question 9.
Dock Receipt is a document issued by ………………………….
(a) Dock authorities
(b) Warehouse keeper
(c) Owner of the goods
(d) Manufacturer
Answer:
(a) Dock authorities

Question 10.
………………………… is not a type of general insurance.
(a) Marine insurance
(b) Life insurance
(c) Fidelity insurance
(d) Fire insurance
Answer:
(b) Life insurance

Question 11.
Trade middleman who acts as a link between wholesaler and customers refers to a ………………………..
(a) Producer
(b) Broker
(c) Retailer
(d) Customer
Answer:
(c) Retailer

Question 12.
……………………… are mobile traders who deal in low priced articles with no fixed place of business.
(a) Shopping malls
(b) Super markets
(c) Street stalls
(d) Itinerant traders
Answer:
(d) Itinerant traders

Question 13.
Public deposits are the deposits which are raised directly from ………………………
(a) The public
(b) The director
(c) The auditors
(d) The owners
Answer:
(a) The public

Question 14.
Income Tax is ………………………..
(a) A business tax
(b) A direct tax
(c) An indirect tax
(d) None of these
Answer:
(a) A business tax

Question 15.
Which bank has the power to issue bank notes?
(a) Central bank
(b) Commercial bank
(c) Co – operative banks
(d) Foreign banks
Answer:
(a) Central bank

Question 16.
The compensation given for a breach of contract is …………………………..
(a) Damage
(b) Remuneration
(c) Money
(d) Cheque
Answer:
(a) Damage

Question 17.
Which one of the following is not correctly matched?
(a) Sony Corporation – MNC
(b) Post and Telegraph – Departmental undertaking
(c) IDBI – Agricultural bank
(d) Steel Authority of India Ltd – Government company
Answer:
(c) IDBI – Agricultural bank

Question 18.
Find out which is not the classification of manufacturing Industries?
(a) Micro industries
(b) Synthetic industry
(c) Processing industry
(d) Assembling industry
Answer:
(a) Micro industries

Question 19.
Match List – I with List – II and select the correct answer using the codes given below:

List – I	List – II
(i) Indian Bank	1. Private sector bank
(ii) Karur vysya bank	2. Government company
(iii) Indian Airlines	3. Nationalised bank
(iv) Coal India Ltd	4. Public corporation

Answer:
Codes:

Question 20.
Socially responsible business provides goods at ……………………..
(a) High price
(b) Low price
(c) Reasonable price
(d) Moderate price
Answer:
(c) Reasonable price

PART – II

Answer any seven questions in which question No. 30 is compulsory. [7 × 2 = 14]

Question 21.
Give the meaning of crop insurance?
Answer:
This policy is to provide financial support to fanners in case of a crop failure due to drought or flood. It generally covers all risks of loss or damages relating to production of rice, wheat, millets, oil seeds and pulses etc.

Question 22.
Mention any four examples of public corporation?
Answer:
Examples of public corporation:

1. Life Insurance Corporation of India
2. The Indian Airlines
3. The Air India International
4. Food Corporation of India

Question 23.
What is meant by foreign bank?
Answer:
Banks which have registered office in a foreign country and branches in India are called foreign banks.

Question 24.
What is GATT?
Answer:
The General Agreement on Tariffs and Trade. (GATT) was signed at Geneva on 30th October 1947 by 23 countries. It came into effect on 1^st January 1948.

Question 25.
Describe any two advantages of water transport?
Answer:
Advantages of water transport:

1. It is the cheapest mode of transport.
2. It is most suitable for heavy loads.

Question 26.
A transport which is useful in hilly and remote areas. It is a means of transport in naval lifting device. What does it mean?
Answer:
It is the type of transport called pack animals. Animals like horse, mule, donkey, camel and elephant are known as pack animals. They are used for carrying small loads in backward areas, hilly tracks, forest regimes and deserts. They serve areas which are inaccessible to modem means of transport.

Question 27.
What is unlimited liability?
Answer:
The liability of the proprietor for the debts of the business is unlimited. The creditors have the right to recover their dues even from the personal property of the proprietor in case the business assets are not sufficient to pay their debts.

Question 28.
What are the services included in service business?
Answer:
Educational, medical, hospitality and banking are the services included in service businesses. Bank service is the nerve center of industry and commerce in a country.

Question 29.
What is meant by Marine Insurance?
Answer:
Marine insurance is a contract of insurance under which the insurer undertakes to indemnify the insured against marine losses. The insured pays the premium for the insurer’s guarantee to make good the looses arising from marine perils. Marine perils may be damage of ship, fire, etc.

Question 30.
What is credit co – operatives?
Answer:
Co – operative credit societies are societies formed for providing short-term financial help to their members. Agriculturists, artisans, industrial workers, salaried employees, etc., form these credit societies.

PART – III

Answer any seven questions in which question No. 40 is compulsory. [7 × 3 = 21]

Question 31.
The functions of commercial banks are:
(a) Primary functions
(b) Secondary functions. Secondary functions may be of agency and general utility functions? Describe any three utility services?
Answer:
General utility functions:

1. Accepting bills on behalf of customers: Banks accept bills on behalf of customers and make payments to the foreign exporter.
2. Issue of demand drafts and Banker’s cheques: Demand drafts and banker’s cheques are issued to the public and customers.
3. Safety lockers: Valuable documents, jewels can be kept in a vault provided by the bank for rent.

Question 32.
Goods are manufactured in one place and it may be demanded throughout the world. Goods may reach the consumers by a number of middlemen. Who is the first middleman in the trade? Explain any three features of that middleman?
Answer:
The first middleman in the trade or distribution is called wholesaler. A wholesaler buys goods directly from manufacturers and sells them to the retailers.

Features:

1. Wholesalers buy goods directly from producers.
2. Wholesalers buy goods in large quantities and sell in small quantities.
3. Wholesalers sell different varieties of a particular kind of product.

Question 33.
The importer places the order either directly or through an indent house. It is known as indent. Indent may be of three types. What are the three types of indents? Explain?
Answer:
There are three types of indent:

1. Open Indent: It gives complete freedom to exporter to choose type of goods, price, quality, method of packing, etc.
2. Closed Indent: It does not give any freedom to exporter. Importer specifies the type of goods, price, quality, etc.
3. Confirmatory Indent: An indent is to be confirmed by importer/his agent and the final indent is sent by importer thereafter.

Question 34.
Explain the differences between Direct tax and Indirect tax?
Answer:

Question 35.
Mention the importance of banking service?
Answer:
Banking service is the nerve center of industry and commerce in a country. It plays a vital role by providing the money required for their regular functioning and development. There are many types of banks rendering different types of services.

Question 36.
This organisation is useful to the farmers in a village. It helps in the purpose of cultivation. Identify the form of organisation and briefly explain about it?
Answer:
This form of organisation is ‘co-operative farming societies’. The societies in a village collect their land together for the purpose of cultivation, purchase the inputs for cultivation and market the crops for the sales.

Question 37.
State the meaning of retail trade?
Answer:
Retail trade deals with the distribution of goods in small quantities to the end consumers. It represents the final stage in the distribution where goods are transferred from the hands of manufacturers or wholesalers to the users. If the sales are made directly to the end consumers it will be considered as retailing.

Question 38.
What is the classification of foreign trade?
Answer:
Types of Foreign Trade:

1. Import Trade: Import trade means buying goods from a foreign country for domestic use.
2. Export Trade: Export trade means the sale of domestic goods to foreign countries.
3. Entrepot Trade: Entrepot trade means importing of goods from one country and exporting the same to foreign countries.

Question 39.
What are the various rules regarding damages?
Answer:
Generally in the following cases, the court grants specific performance:

1. When the act agreed to be done is such that compensation in money for its non-performance is not sufficient.
2. When it is probable that compensation in money cannot be received for the non-performance of the act agreed to be done.
3. When there is no standard for ascertaining the actual damage caused by the non-performance of the act agreed to be done.

Question 40.
The scheme was introduced by the RBI in August 1996. These are small private sector banks established in rural and semi urban areas. What is the name of the bank? Explain?
Answer:
Local Area Bank (LAB) scheme was introduced by the RBI in August 1996. LABs are small private sector banks established in rural and semi-urban areas. Each bank serves two or three adjoining districts only. Their main objective is to mobilise rural savings (accept deposits) and invest them in the same areas.

Examples:

1. Coastal Local Area Bank, Vijayawada, Andhra Pradesh.
2. Subhadra Local Area Bank Limited, Kolhapur, Maharashtra

PART – IV

Answer all the questions. [7 × 5 = 35]

Question 41.
(a) Discuss the advantages of transport?
Answer:
Advantages of railway transport:

1. Railways are well suited for carrying heavy and bulky goods over long distances.
2. It can provide long distance travel throughout the day and night with unbroken services.

Advantages of inland waterways:

1. It is considered as the cheapest mode of transport among the other modes of transport.
2. It is most suitable for heavy loads.

Advantages of air transport:

1. It provides a regular, convenient, efficient and quick service.
2. Perishable goods like fruits, vegetables, egg, meat, etc., can be transported quickly.

[OR]

(b) Discuss the causes of risk?
Answer:
Business risk arises due to a variety of causes which are classified as follows:
1. Natural Causes:
Human beings have little control over natural calamities like flood, earthquake, lightning, heavy rains, famine, etc. These result in heavy loss of life, property, and income in business.

2. Human Causes:
Human causes include such unexpected events like dishonesty, carelessness or negligence of employees, stoppage of work due to power failure, strikes, riots, management inefficiency, etc.

3. Economic Causes:
These include uncertainties relating to demand for goods, competition, price, collection of dues from customers, change of technology or method of production, etc. Financial problems like rise in interest rate for borrowing, levy of higher taxes,, etc., also come under this type of causes as they result in higher unexpected cost of operation of business.

4. Other Causes:
These are unforeseen events like political disturbances, mechanical failures such as the bursting of boiler, fluctuations in exchange rates, etc. which lead to the possibility of business risks.

Question 42 (a).
Sole proprietorship is a form of business organisation in which an individual introduces his own capital, uses his own skill and intelligence in the management of the business? Explain the characteristics of a sole trader?
Answer:
Business owned and controlled by a single person is known as sole trading business.

The following are the characteristics of a sole trader:

1. Ownership by one man: This is owned by single person. The sole trader contributes the required capital.
2. Freedom of work and Quick decisions: The sole trader is the owner, so he need not consult with others. Hence he can take quick decision.
3. Unlimited liability: When his business assets are not sufficient to pay off the business debts he has to pay from his personal property.
4. Enjoying Entire Profit: All the benefits earned by the sole trader is enjoyed by him alone.
5. Absence of Government Regulation: A sole trading concern is free from Government regulations. No legal formalities are to be observed in its formation and management.
6. Maintenance of Secrecy: Since the trader manages all the affairs of the business, the secrecy can be maintained easily.

[OR]

(b) Partnership is the relation between persons who have agreed to share the profits of a business carried on by all. It is the result of an agreement. Closing of business is also by an agreement. It is called Dissolution of Partnership. Explain the dissolution of partnership firm without the order of the court?
Answer:
Dissolution of a partnership firm takes place in two ways:

1. Without the order of the court and
2. By the order of the court

1. Without the order of the court:

1. By agreement or mutual consent: A firm may be dissolved when all the partners agree to close the affairs of the firm.
2. By insolvency of all the partners but one: If any one of the partners is adjudged as insolvent, it is necessary to dissolve the firm.
3. When the objective becomes illegal: When the business carried on by the partnership becomes illegal, the partnership firm is automatically dissolved.
4. By notice of dissolution: In the case of partnership at will, if any partner gives in writing to close the firm, the firm will be dissolved.
5. On certain contingencies:
   • On the expiry of the period of the firm.
   • On the completion of a business.
   • On the death of a partner.
   • On the retirement of a partner.
   • On the insolvency of a partner.

Question 43 (a).
What are the features of public corporation?
Answer:
1. Special Statute:
A public corporation is created by a special Act of the Parliament or the State Legislature. The Act defines its powers, objectives, functions and relations with the ministry and the Parliament (or State Legislature).

2. Separate Legal Entity:
A public corporation is a separate legal entity with perpetual succession and common seal It has an existence, independent of the Government. It can own property; can make contracts and file suits, in its own name.

3. Capital Provided by the Government:
The capital of a public corporation is provided by the Government or by agencies controlled by the government. However, many public corporations have also begun to raise money from the capital market.

4. Financial Autonomy:
A public corporation enjoys financial autonomy. It prepares its own budget; and has authority to retain and utilize its earnings for its business.

5. Management by Board of Directors:
Its management is vested in a Board of Directors, appointed or nominated by the Government. But there is no Governmental interference in the day-to-day working of the corporation.

[OR]

(b) Partnership is formed according to Partnership Act. There are various kinds of partners based on capital and administration. Explain any five kinds of partners?
Answer:
Partnership is formed by agreement. In this partnership, the member in a firm is called as partner. There are various kinds of partners. They are as follows:

1. Active partner:
A partner who takes an active part in the conduct of the partnership business is known as an active partner.

2. Sleeping or Dormant partner:
A partner contributes capital and shares in the profits or losses of the firm, but does not take part in the management of the business is known as sleeping partner.

3. Nominal partner:
Such a partner neither contributes any capital nor is he entitled to manage the affairs of the business. He lends only his name to strengthen the firm.

4. Partner in profits only:
When a person joins a firm as a partner on the condition that he is entitled to share profits in the firm, he is called as a partner in profits only.

5. Secret partner:
A secret partner is one whose association is not known to the general public.

Question 44 (a).
Explain various types of insurance?
Answer:
Insurance covers various types of risks. All contract of insurance can be broadly classified as follows:

1. Life Insurance (or) Life Assurance
2. Non – life Insurance (or) General Insurance

It can be further classified into:

1. Fire Insurance
2. Marine Insurance
3. Health Insurance and
4. Miscellaneous Insurance

1. Life Insurance:
Life Insurance may be defined as a contract in which the insurance company called insurer undertakes to insure the life of a person called assured in exchange of a sum of money called premium which may be paid in one lump sum or monthly, quarterly, half yearly or yearly and promises to pay a certain sum of money either on the death of the assured or on expiry of certain period.

2. Non – Life Insurance or General insurance:
It refers as the insurance not related to human but related to properties.

3. Fire Insurance:
Fire insurance is a contract whereby the insurer, in consideration of the premium paid, undertakes to make good any loss or damage caused by a fire during a specified period upto the amount specified in the policy.

4. Marine Insurance:
Marine insurance is a contract of insurance under which the insurer undertakes to indemnify the insured in the manner and to the extent thereby agreed against marine losses. The insured pays the premium in consideration of the insurer’s (underwriter’s) guarantee to make good the losses arising from marine perils or perils of the sea.

5. Health Insurance:
In mid 80’s, most of the hospitals in India were government owned and treatment was free of cost. With the advent of Private Medical Care, the need for Health Insurance was felt and various Insurance Companies introduced Health Insurance as a Product. Presently the health insurance exists primarily in the form of ‘Mediclaim policy’.

[OR]

(b) Explain the functions of retailers?
Answer:

1. Buying: A retailer buys a wide variety of goods from different wholesalers after estimating customer’s demand.
2. Storage: A retailer maintains a ready stock of goods and displays them in the shop.
3. Selling: The retailer sells the goods in small quantities according to the demand taste and preference of consumers.
4. Grading and Packing: The retailer grades the goods which are not graded by manufacturers and wholesalers.
5. Risk – bearing: A retailer always keeps stock of goods in anticipation of demand and bears the risk of loss due to fire, theft, spoilage, price fluctuations, etc.
6. Transportation: Retailers often carry goods from manufacturers to their retail outlets.
7. Financing: Some retailers grant credit facilities to his customers and provide the facility of return or exchange of goods.

Question 45 (a).
Explain any four personal investment avenues?
Answer:
1. Public Provident Fund (PPF):
It is the safest long – term investment option for the investors in India. It is totally tax – free. PPF account can be opened in bank or post office. The money deposited cannot be withdrawn before 15 years and an investor can earn compound interest from this account.

However the investor can extend the time frame for the next five years if the investor does not opt to withdraw the amount matured for payment at maturity date. PPF investor can take loan against PPF account when he/she experiences financial difficulties.

2. Mutual Funds:
An individual investor who wants to invest in equities and bond with a balance of risk and return generally can invest in mutual funds. Nowadays people invest in stock markets through a mutual fund. Systematic investment plan is one of the best investment options in India.

3. Direct Equity or Share Purchase:
An individual can opt for investment in shares. But he has to analyse the market price of various shares traded in stock exchange, reputation of the company, consistency in the payment of dividend, the nature of the project undertaken by the company, growth prospects of industry in which a company is operating, before investing in shares. If the investment is made for a long time, it may yield good return.

4. Real Estate Investment:
Real estate is one of the fastest growing sectors in India. Buying a flat or plot is supposed to be the best decision amongst the investment options. The value of the real asset may increase substantially depending upon the area of location and other support facilities available therein.

[OR]

(b) Explain any four warehousing documents?
Answer:
Warehouses means a place where goods are stored for future use. For keeping the goods, the various documents are needed; they are as follows:

1. Warehousing Warrants: It is a document issued in favour of goods by the warehouse keeper. It is also used as a document of title to goods.
2. Warehouse Keeper’s receipt: It is a document issued by the warehouse keeper, which acknowledges there receipt of goods from the owner of the goods.
3. Dock Warrant: Dock warrant is a document of title of goods issued by the dock authorities. This document certifies that the dock authorities hold the goods.
4. Dock Receipt: Dock receipt is an acknowledgement of receipt of goods issued by the dock authorities to the owner of the goods. It is not a document of title to goods.
5. Delivery Order: This is a document through which the depositor directs the warehouse keepers to deliver the goods to the party mentioned in the document.

Question 46 (a).
Industry means, which is connected with conversion of raw materials into finished goods. It may be of various types. Explain: (a) Analytical industry (b) Genetic industry and (c) Construction industry?
Answer:

1. Analytical Industry: It analyses and separates different elements from the same materials, as in the case of oil refinery.
2. Genetic Industries: These industries remain engaged in breeding plants and animals for their use in further reproduction. The seeds, nursery companies, poultry, diary, piggery, hatcheries, nursery, fisheries, apiary etc are classic examples of genetic industries.
3. Construction Industries: These industries are involved in the ,construction of building, dams, bridges, roads, as well as tunnels and canals.

[OR]

(b) Explain the procedure for the registration of partnership firm?
Answer:

1. Name of the firm.
2. The principal place of business.
3. Name of other places where the firm carried on business.
4. Names and addresses of all the partners.
5. The date on which each partner joined the firm.
6. The duration of the firm.

This statement signed by all the partners should be produced to the Registrar of Firms along with the necessary registration fee of Rs.3. Any change in the above particulars must be communicated to the Registrar within 14 days of such alteration.

Question 47 (a).
Partnership is formed by agreement. It is desirable to have a written agreement. What is the name of the agreement? Explain the contents of it?
Answer:

1. Name: Name of the Firm.
2. Nature of Business: Nature of the proposed business to be carried on by the partners.
3. Duration of Partnership: Duration of the partnership business whether it is to be run for a fixed period of time or whether it is to be dissolved after completing a particular venture,
4. Capital Contribution: The capital is to be contributed by the partners. It must be remembered that capital contribution is not necessary to become a partner for, one contribute his organizing power, business acumen, managerial skill etc., instead of capital.
5. Withdrawal from the Firm: The amount that can be withdrawn from the firm by each partner.
6. Profit/Loss Sharing: The ratio in which the profits or losses are to be shared. If the profit sharing ratio is not specified in the deed, all the partners must share the profits and bear the losses equally.
7. Interest on Capital: Whether any interest is to be allowed on capital and if so, the rate of interest.
8. Rate of Interest on Drawing: Rate of interest on drawings, if any.
9. Loan from Partners: Whether loans can be accepted from the partners and if so the rate of interest payable thereon.
10. Account Keeping: Maintenance of accounts and audit.
11. Salary and Commission to Partners: Amount of salary or commission payable to partners for their services. (Unless this is specifically provided, no partner is entitled to any salary).
12. Retirement: Matters relating to retirement of a partner. The arrangement to be made for paying out the amount due to a retired or deceased partner must also be stated.
13. Goodwill Valuation: Method of valuing goodwill on the admission, death or retirement of a partner.
14. Distribution of Responsibility: Distribution of managerial responsibilities. The work that is entrusted to each partner is better stated in the deed itself.
15. Dissolution Procedure: Procedure for dissolution of the firm and the mode of settlement of accounts thereafter.
16. Arbitration of Dispute: Arbitration in case of disputes among partners. The deed should provide the method for settling disputes or difference of opinion. This clause will avoid costly litigations.

[OR]

(b) Explain any five principles of co – operatives?
Answer:
1. Voluntary and Open Membership:
Co – operatives are voluntary organisations, open to all people able to use its services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination.

2. Democratic Member Control:
Co – operatives are democratic organisations controlled by their members those who buy the goods or use the services of the co – operative who actively participate in setting policies and making decisions.

3. Member’s Economic Participation:
Members contribute equally to, and democratically control, the capital of the co – operative. This benefits members in proportion to the business they conduct with the co-operative rather than on the capital invested.

4. Autonomy and Independence:
Co – operatives are autonomous, self – help organisations controlled by their members. If the co – operative enters into agreements with other organisations or raises capital from external sources, it is done so based on terms that ensure democratic control by the members and maintains the co – operative’s autonomy.

5. Education, Training, and Information:
Co – operatives provide education and training for members, elected representatives, managers and employees so they can contribute effectively to the development of their cooperative. Members also inform the general public about the nature and benefits of cooperatives.

Students can Download Tamil Nadu 11th Commerce Model Question Paper 4 English Medium Pdf, Tamil Nadu 11th Commerce Model Question Papers helps you to revise the complete Tamilnadu State Board New Syllabus, helps students complete homework assignments and to score high marks in board exams.

TN State Board 11th Commerce Model Question Paper 4 English Medium

General Instructions:

1. The question paper comprises of four parts.
2. You are to attempt all the parts. An internal choice of questions is provided wherever applicable.
3. All questions of Part I, II, III and IV are to be attempted separately.
4. Question numbers 1 to 20 in Part I are Multiple Choice Questions of one mark each.
   These are to be answered by choosing the most suitable answer from the given four alternatives and writing the option code and the corresponding answer
5. Question numbers 21 to 30 in Part II are two-mark questions. These are to be answered in about one or two sentences.
6. Question numbers 31 to 40 in Part III are three-mark questions. These are to be answered in above three to five short sentences.
7. Question numbers 41 to 47 in Part IV are five-mark questions. These are to be answered in detail Draw diagrams wherever necessary.

Time: 2:30 Hours
Maximum Marks: 90

PART – I

Choose the correct answer. Answer all the questions. [20 × 1 = 20]

Question 1.
……………………….. is a special type of bond issued in the currency other than the home currency.
(a) Government bond
(b) Foreign currency convertible bond
(c) Corporate bond
(d) Investment bond
Answer:
(b) Foreign currency convertible bond

Question 2.
……………………. acts as connective link between the producer and the consumer.
(a) Trade
(b) Industry
(c) Commerce
(d) Business
Answer:
(a) Trade

Question 3.
From the following which is not a recent trend in transportation?
(a) Metro rail
(b) Pipeline transport
(c) Bullock carts
(d) Ropeway transport
Answer:
(c) Bullock carts

Question 4.
Minimum how much amount can be transferred through RTGS?
(a) Any amount
(b) Rs 50,000
(c) Rs 2 lakhs
(d) Rs 5 Lakhs
Answer:
(c) Rs 2 lakhs

Question 5.
Goods are imported for the purpose of exporting to another country is termed as ……………………….
(a) Import trade
(b) Export trade
(c) Entrepot trade
(d) Internal trade
Answer:
(c) Entrepot trade

Question 6.
Agriculture income earned in india is ………………………..
(a) Fully taxable
(b) Fully exempted
(c) Not considered for income
(d) None of the above
Answer:
(b) Fully exempted

Question 7.
An …………………………. is a document prepared by the importer and sent to the exporter to buy the goods.
(a) Invoice
(b) Indent
(c) Enquiry
(d) Charter party
Answer:
(b) Indent

Question 8.
Which of the parties cannot demand performance of promise?
(a) Promisee
(b) Any of the joint promisees
(c) Death of a promisee, his legal representative
(d) Stranger to the contract
Answer:
(d) Stranger to the contract

Question 9.
The income paid to the (mercantile agent), broker is ………………………..
(a) Profit
(b) Brokerage
(c) Commission
(d) Salary
Answer:
(b) Brokerage

Question 10.
Ethics is important for ……………………….
(a) Top management
(b) Middle – level management
(c) Non – managerial employees
(d) All of them
Answer:
(d) All of them

Question 11.
……………………. is the oldest form of transport found in hilly areas, forest areas in remote places.
(a) Bullock carts
(b) Road transport
(c) Motor lorries
(d) Pathways transport
Answer:
(d) Pathways transport

Question 12.
The document which invites the public to buy the shares and debentures is known as …………………………
(a) Memorandum of Association
(b) Articles of Association
(c) Prospectus
(d) Partnership articles
Answer:
(c) Prospectus

Question 13.
Which one of the following is not correctly matched?
(a) Minimum two members – Partnership firm
(b) Minimum paid up capital Rs 100000 – Private company
(c) Voluntary Membership – Co – operatives
(d) 51% of paid up capital – Foreign company
Answer:
(d) 51% of paid up capital – Foreign company

Question 14.
ABC jointly promised to pay Rs. 50000 to D. Before performance of the contract, ‘C’ dies. Here the contract ………………………
(a) Becomes void on C’s death.
(b) Should be performed by A and B along with C’s legal representative.
(c) Should be performed by A and B alone.
(d) Should be renewed between A, B and D.
Answer:
(b) Should be performed by A and B along with C’s legal representative.

Question 15.
Airport Authority of India, is a public enterprise. Identify the form of organisation.
(a) Statutory corporations
(b) Departmental undertakings
(c) Multi – national corporations
(d) State – owned company
Answer:
(b) Departmental undertakings

Question 16.
Debenture holders are entitled to a fixed rate of ………………………
(a) Dividend
(b) Profits
(c) Interest
(d) Ratio
Answer:
(c) Interest

Question 17.
The State Bank of India came into being in ………………………
(a) 1995
(b) 1945
(c) 1955
(d) 1965
Answer:
(c) 1955

Question 18.
Match List – I with List – II and select the correct answer using the codes given below:

List – I	List – II
(i) Assembling industry	1. Sugar
(ii) Processing industry	2. Computer
(iii) Analytical industry	3. Fishery
(iv) Genetic industry	4. Oil industry

Answer:
Codes:

Question 19.
An ……………………… is a document prepared by the importer and sent to the exporter to buy the goods.
(a) Invoice
(b) Indent
(c) Enquiry
(d) Charter party
Answer:
(b) Indent

Question 20.
Point out the wrong statement from the following.
(a) Extractive industries extract products from natural resources.
(b) Genetic industries are engaged in breeding plants and animals for their use in further reproduction
(c) Manufacturing industries are engaged in producing goods through processing of raw material.
(d) Construction industries are involved in the successive stages for manufacturing sugar and paper, etc.
Answer:
(d) Construction industries are involved in the successive stages for manufacturing sugar and paper, etc.

PART – II

Answer any seven questions in which question No. 30 is compulsory. [7 × 2 = 14]

Question 21.
It is the oldest form of organisation in public enterprises. It is run by the particular department. What is the name of the organisation? How is it controlled?
Answer:
Departmental form of organisation of managing state enterprises is the oldest form of organisation. Under departmental form of organisation, a public enterprise is run as a separate full – fledged ministry or as a major sub-division of a department of the Government.

Question 22.
Banks which do not provide regular service, and are controlled by stock exchange, What is the name of the bank? Write a short note about the bank?
Answer:
The name of the bank is Merchant bank. A commercial bank or its subsidiary may offer services like project counselling, underwriting etc for starting a company. It is called merchant banking.

Question 23.
What is meant by chartered company?
Answer:
Chartered companies are established by the King or Queen of a country. Powers and privilege of chartered company are specified in the charter. Power to cancel the charter is vested with King/Queen.

Question 24.
Some co – operative societies are formed for providing short term finance to the members. It is useful to the farmers especially. What is the name of the society?
Answer:
Cooperative credit societies are societies formed for providing short-term financial help to their members. Agriculturists, artisans, industrial workers, salaried employees, etc., form these credit societies.

Question 25.
Give any two functions of warehouses?
Answer:

1. Storage
2. Price stabilization
3. Equalization of demand and supply

Question 26.
Define the term‘factoring’?
Answer:
The term ‘factoring’ is derived from a Latin term ‘facere’ which means ‘to make or do’. Factoring is an arrangement wherein the trade debts of a company are sold to a financial institution at a discount.

Question 27.
State the meaning of Mail order business?
Answer:
Mail order business means that the buying and selling is through mail. There is no personal contact between the buyers and sellers in this type of trading.

Question 28.
Explain the term – Credit card?
Answer:
Banks issue credit cards to customers and other eligible persons. With this card, the holder can purchase goods and services on credit at any shop in India.

Question 29.
What is meant by consumer co-operatives?
Answer:
Consumer co – operatives are organised by consumers. The aim of the consumers co-operative is to supply the quality goods at fair prices. They also supply essential commodities through Public Distribution System (PDS).

Question 30.
What is mutual funds?
Answer:
An individual investor who wants to invest in equities and bond with a balance of risk and return generally can invest in mutual funds. Nowadays people invest in stock markets through a mutual fund.

PART – III

Answer any seven questions in which question No. 40 is compulsory. [7 × 3 = 21]

Question 31.
What are the advantages of company? Explain any three?
Answer:
1. Large Capital:
A company can secure large capital compared to a sole trader or partnership. Large amount of capital is necessary for conducting business on a large scale.

2. Limited Liability:
The liability of a shareholder is limited. The risk of loss is limited to the unpaid amount on the face value of shares held. In the case of a company limited by shares, the liability of a shareholder is restricted to the unpaid amount on the shares held by him.

3. Transferability of Shares:
Transaction of Shares between two individuals is easy. So there is liquidity of investment. Any shareholder can easily convert his shares into money by selling his shares.

Question 32.
What is the necessity for Entrepot trade?
Answer:
Entrepot is necessary because of the following reasons:

1. The country may not have any accessible trade routes connecting the importing country.
2. The goods imported may require further processing or finishing before exporting, and these facilities may be lacking in the exporting or importing country.
3. There may not have any bilateral trade agreement between both the countries.

Question 33.
This is a loan taken by depositing document of title to the property with the banker. What is the name of the loan? Also how the banker grants the loan to the customers?
Answer:
The name of the loan is ‘hypothecation’. In this type of loan, the customer has to deposit the document of title to the property with the banker. But the physical possession of the property is with the borrower. If the loan is not paid, the lender will sell the property and can receive the loan amount.

Question 34.
What are the objectives of GST?
Answer:

1. To create a common market with uniform tax rate in India. (One Nation, One Tax, One Market)
2. To eliminate the cascading effect of taxes, GST allows set – off of prior taxes for the same transactions as input tax credit.
3. To boost Indian exports, the GST already collected on the inputs will be refunded and thus there will be no tax on all exports.
4. To increase the tax base by bringing more number of tax payers and increase tax revenue.
5. To simplify tax return procedures through common forms and avoidance of visiting tax departments.
6. To provide online facilities for payment of taxes and submission of forms.

Question 35.
Cargo vessels which do not follow set routes and timetable?
What is the kind and name of the transport?
Answer:
The name of the transport is Tramps. They are a kind of ocean going ships. They are essentially cargo vessels. They have no set routes. They do not follow any timetable. They sail only when they get sufficient load.

Question 36.
What is Gross Total Income?
Answer:
Income from the five heads, namely – Salaries, House Property, Profits and Gains of Business or Profession, Capital Gains, and Other Sources – is computed separately according to the provisions given in the Act. Income computed under these heads shall be aggregated after adjusting past and present losses and the total so arrived at is known as ‘Gross Total Income’.

Question 37.
The retailers having permanent establishment and deal in large scale are called fixed shop large scale retailers. There are various types of large scale retailers. What is telemarketing? Explain the types?
Answer:
Purchasing and selling of goods through telephones are called Telemarketing. It is divided into two types.

1. Telephonic marketing:
Potential customers are contacted through mobile to provide information about the products. Willing customers visit the office and place orders.

2. Television marketing:
In this method, customers are attracted by providing all information of product or service through TV demonstrations. Customers can contact through phone or website to place order.

Question 38.
Distinguish between hire purchase system and installment system of selling?
Answer:

Question 39.
Explain any three features of Self Help Groups?
Answer:
Self Help Group is a small informal voluntary association created for the purpose of enabling members to reap economic benefit out of mutual help, solidarity, and joint responsibility. Features of Self Help Groups:

1. The motto of every group members should be “saving first – credit latter”.
2. Self Help Group is homogeneous in terms of economic status.
3. The groups need not be registered.

Question 40.
What are the objectives of GST?
Answer:

1. To create a common market with uniform tax rate in India. (One Nation, One Tax, One Market)
2. To eliminate the cascading effect of taxes, GST allows set-off of prior taxes for the same transactions as input tax credit.
3. To boost Indian exports, the GST already collected on the inputs will be refunded and thus there will be no tax on all exports.
4. To increase the tax base by bringing more number of tax payers and increase tax revenue.
5. To simplify tax return procedures through common forms and avoidance of visiting tax departments.
6. To provide online facilities for payment of taxes and submission of forms.

PART – IV

Answer all the questions. [7 × 5 = 35]

Question 41 (a).
Write short notes on:

1. Owner’s funds
2. Borrowed funds

Answer:
1. Owner’s Funds:
Owner’s funds mean funds which are provided by the owner of the enterprises who may be an individual, or partners or shareholders of a company.

The profits reinvested in the business (ploughing back of profit or retained earnings) come under owner’s funds. These funds are not required to be refunded during the life time of business enterprise. It provides the owner the right to control the management of the enterprise.

2. Borrowed Funds:
The term ‘borrowed funds’ denotes the funds raised through loans or borrowings. For example debentures, loans from banks and financial institutions, public deposits, trade credit, lease financing, commercial papers, factoring, etc., represent borrowed funds.

1. These borrowed sources of funds provide specific period before which the fund is to be returned.
2. Borrower is under legal obligation to pay interest at given rate at regular intervals to the lender.
3. Generally borrowed funds are obtained on the security of certain assets like bonds, land, building, stock, vehicles, machinery, documents of title to the goods, and the like.

[OR]

(b) What are the advantages of sole trading?
Answer:

1. Easy Formation: No legal formalities are required to initiate a sole trading concern. Any person capable of entering into a contract can start it, provided he has the necessary resources for it.
2. Incentive to Work hard: There is a direct relationship between effort and reward. The fact that the entire profit can be taken by himself without sharing with anybody else induces him to work ceaselessly.
3. Small Capital: Small capital is an important as well as specific advantage of sole proprietorship. Sole proprietor can start business with small capital.
4. Credit Standing: Since his private properties are held liable for satisfying business debts, he can get more financial assistance from others.
5. Personal Contact with the Customers: Since sole proprietor knows each and every customer individually he can supply goods according to their taste and preferences. Thus he can cultivate personal relationship with the customers.
6. Flexibility: The sole trader can easily adjust himself to the changing requirements of his business.

Question 42 (a).
Explain the contents of Articles of Association?
Answer:
Contents of Articles of Association (AOA):

1. Amount of shares, capital, value and type of shares.
2. Rights of each class of shareholders regarding voting, dividend, return of capital
3. Rules regarding issue of shares and debentures
4. Procedures as well as regulations in respect of making calls on shares
5. Manner of transfer of shares
6. Declaration of dividends
7. Borrowing powers of the company
8. Rules regarding the appointment, remuneration, removal of directors
9. Procedure for conducting proxy, quorum, meetings, etc.
10. Procedures concerning keeping of books and audits
11. Seal of the company
12. Procedures regarding the winding up of the company.

[OR]

(b) What are the primary functions of commercial banks?
Answer:
The primary functions of a commercial bank are of three types. They are:

1. Accepting Deposits:
The basic deposit accounts offered by commercial banks are listed below:

A. Demand Deposits:
These deposits are repayable on demand on any day. These consist of –

• Savings Deposits: General public deposit their savings into this account. This account can be opened in one individual’s name or more than one name.
• Current Deposits: This account is suitable for business institutions. Individuals too can open this account. A higher minimum balance should be kept in this account.

B. Time Deposits:
These are repayable after a period. These include –

• Fixed Deposits (FD): Certain amount is deposited for a fixed period for a fixed rate of interest.
• Recurring Deposits (RD): Certain sum is deposited into the account every month for one year or five years or the agreed period. Interest rate is more than savings deposits and almost equal to fixed deposits.

2. Granting Loans and Advances:
Commercial banks lend money in order to earn interest.

A. Advances:

• Overdraft: It is a credit facility extended mostly to current account holding business community customers.
• Cash Credit: It is a secured credit facility given mostly to business institutions. Stock in hand, raw materials, other tangible assets, etc. are provided as collateral.
• Discounting of Bills: Business customers approach banks to discount the commercial bills of exchanges and provide money

B. Loans- Short term and medium term loans are provided by commercial banks against eligible collaterals to business concerns. Examples- housing loan, consumer loan, vehicle loan, educational Loan, jewel loan, etc.

3. Creation of Credit- Apart from the currency money issued by the RBI, the credit money in circulation created by commercial banks influence economic activities of a country to a large extent. Credit money of commercial banks is far greater in volume than the currency money.

Question 43 (a).
What are the disadvantages of MNC?
Answer:

1. Danger for Domestic Industries: MNCs, because of their vast economic power, pose a danger to domestic industries; which are still in the process of development. Domestic industries cannot face challenges posed by MNCs.
2. Transfer of Outdated Technology: Where MNCs transfer outdated technology to host nation, it serves no purpose.
3. No Benefit to Poor People: MNCs produce only those things, which are used by the rich. Therefore, poor people of host countries do not get, generally, any benefit, out of MNCs.
4. Danger to Independence: Initially MNCs help the Government of the host country, in a number of ways; and then gradually start interfering in the political affairs of the host country.
5. Deprivation of Job Opportunity of Local People: MNCs may not generate job opportunities to the people of home country.

[OR]

(b) Explain the organisational structure of RBI?
Answer:
The head office of the RBI is situated in Mumbai. This central office has 33 departments in 2017. It has four zonal offices in Mumbai, Delhi, Calcutta and Chennai functioning under local boards with deputy governors as their heads. It also has 19 regional offices and 11 sub-offices (2017).

The RBI is governed by a central board of directors. The 21 member board is appointed by the Government of India. It consists of:

1. One Governor and four deputy governors appointed for a period of four years,
2. Ten Directors from various fields
3. Two Government officials
4. Four Directors – one each from local boards.

Question 44 (a).
Distinguish between internal and international trade?
Answer:

[OR]

(b) State the features of departmental stores?
Answer:

1. Large Size: A department is a large scale retail showroom requiring a large capital investment by forming a joint stock company managed by a board of directors.
2. Wide Choice: It acts as a universal provider of a wide range of products from low priced to very expensive goods (Pin to Car) to satisfy all the expected human needs under one roof.
3. Departmentally organized: Goods offered for sale are classified into various departments.
4. Facilities provided: It provides a number of facilities and services to the customers such as restaurant, rest rooms, recreation, packing, free home delivery, parking, etc.
5. Centralised purchasing: All the purchases are made centrally and directly from the manufacturers and operate separate warehouses whereas sales are decentralised in different departments.

Question 45 (a).
What are the different types of transportation? Explain?
Answer:
Types of transportation:

(A) Land Transport:
Transport of people and goods by land vehicles is known as Land transport. It is also called as‘Surface Transport’.

• Pack Animals: Animals like horse, mule, donkey, camel, elephant etc., are used for carrying small loads in backward areas, hilly tracks, forest regions and deserts.
• Bullock Carts: It constitutes the predominant form of rural road transport in India for goods traffic and to some extent for passengers’ traffic.
• Road Transport: It is one of the most promising and potent means suitable for short and medium distances.
• Motor lorries and Buses: From the dawn of civilization, people have been endeavoring to form roads and use wheeled vehicles to facilitate transport of men and materials.
• Tramways: Tramways were initially horse drawn, later stearmpowered and now they are electrically operated.
• Railway Transport: The invention of steam engine by James Watt, revolutionized the mode of transport all over the world.
• Recent Trends in Transport: Metro Rail, Monorail, Bullet train, Pipeline Transport, Conveyor Transport, Ropeway transport and Hyper loop transport.

(B) Water Transport:

1. Inland Waterways: Inland Waterways comprise of rivers, canals and lakes. It is also known as internal water transport.
2. Ocean or Sea Transport: Ocean transport has been playing a significant role in development of economic, social and cultural relations among countries of the world.

• Coastal shipping
• Overseas shipping:
• Liner
• Tramps

(C) Air Transport:
Air transport is the fastest and the costliest mode of transport. Commercial air transport is now one of the most prominent modes of overseas transport. Domestic and International flights are the air travels.

[OR]

(b) Explain the principles of insurance?
Answer:
1. Utmost Good Faith:
According to this principle, both insurer and insured should enter into contract in good faith. Insured should provide all the information that impacts the subject matter. Insurer should provide all the details regarding insurance contract.

2. Insurable Interest:
The insured must have an insurable interest in the subject matter of insurance. Insurable interest means some pecuniary interest in the subject matter of the insurance contract.

3. Indemnity:
Indemnity means security or compensation against loss or damages. In insurance, the insured would be compensated with the amount equivalent to the actual loss and not the amount exceeding the loss.

This principle ensures that the insured does not make any profit out of the insurance. This principle of indemnity is applicable to property insurance alone.

4. Causa Proxima:
The word ‘Causa proxima’ means ‘nearest cause’. According to this principle, when the loss is the result of two or more cause, the proximate cause, i.e. the direct. The direct, the most dominant and most effective cause of loss should be taken into consideration. The insurance company is not liable for the remote cause.

5. Contribution:
The same subject matter may be insured with more than one insurer then it is known as ‘Double Insurance’. In such a case, the insurance claim to be paid to the insured must be shared on contributed by all insurers in proportion to the sum assured by each one of them.

6. Subrogation:
Subrogation means ‘stepping the shoes on others’. According to this principle, once the claim of the insured has been settled, the ownership right of the subject matter of insurance passes on to the insurer.

7. Mitigation: In case of a mishap, the insured must take off all possible steps to reduce or mitigate the loss or damage to the subject matter of insurance.

Question 46 (a).
Elucidate any five features of Income Tax?
Answer:
Features of Income Tax in India:
1. Levied as Per the Constitution Income tax is levied in India by virtue of entry No. 82 of list I (Union List) of Seventh Schedule to the Article 246 of the Constitution of India.

2. Levied by Central Government Income tax is charged by the Central Government on all incomes other than agricultural income. However, the power to charge income tax on agricultural income has been vested with the State Government as per entry 46 of list II, i.e., State List.

3. Direct Tax Income tax is direct tax. It is because the liability to deposit and ultimate burden are on same person. The person earning income is liable to pay income tax out of his own pocket and cannot pass on the burden of tax to another person.

4. Annual Tax Income tax is an annual tax because it is the income of a particular year which is chargeable to tax.

5. Tax on Person It is a tax on income earned by a person. The term ‘person’ has been defined under the Income tax Act. It includes individual, Hindu Undivided Family, Firm, Company, local authority, Association of person or body of Individual or any other artificial juridical persons. The persons who are covered under Income tax Act are called ‘assessees’.

[OR]

(b) Write down the functions of IMF?
Answer:

1. It acts as short term credit institution at the international level.
2. It provides machinery for ordinary adjustments of exchange rates.
3. It has a reservoir of currencies of the member countries from which a borrower can borrow currencies of other nations.
4. It promotes economic stability and global growth by encouraging countries adopt sound economic and financial policies.
5. It offers technical assistance and training to help member countries strengthen and implement effective policies. Technical assistance is offered in formulating banking, fiscal, monetary and exchange policies.
6. It helps member countries correct their imbalance in balance of payment.

Question 47 (a).
Describe the importance of international finance?
Answer:

1. International finance helps in calculating exchange rates of various currencies of nations and the relative worth of each and every nation in terms thereof.
2. It helps in comparing the inflation rates and getting an idea about investing in international debt securities.
3. It helps in ascertaining the economic status of the various countries and in judging the foreign market.
4. International Financial Reporting System (IFRS) facilitates comparison of financial statements made by various countries.
5. It helps in understanding the basics of international organisations and maintaining the balance among them.

[OR]

(b) What are the advantages of Railway transport?
Answer:

1. Railways are well suited for carrying heavy and bulky goods over long distances.
2. It provides long distance travel throughout the day and night service.
3. It can provide better production and safety to the goods than motor transport.
4. Though initial investment is large, in the long run the operating expenses will be very low in railways and it will prove a cheaper mode of transport.
5. It has regular schedule of timing and is available throughout the year.
6. It provides unaffected services whether rainy or sunny weather conditions.

Students can Download Tamil Nadu 11th English Model Question Paper 5 Pdf, Tamil Nadu 11th English Model Question Papers helps you to revise the complete Tamilnadu State Board New Syllabus, helps students complete homework assignments and to score high marks in board exams.

TN State Board 11th English Model Question Paper 5

General Instructions:

1. The question paper comprises of four parts.
2. You are to attempt all the parts. An internal choice of questions is provided wherever applicable.
3. All questions of Part I, II, III and IV are to be attempted separately.
4. Question numbers 1 to 20 in Part I are Multiple Choice Questions of one mark each.
   These are to be answered by choosing the most suitable answer from the given four alternatives and writing the option code and the corresponding answer
5. Question numbers 21 to 30 in Part II are two-mark questions. These are to be answered in about one or two sentences.
6. Question numbers 31 to 40 in Part III are three-mark questions. These are to be answered in above three to five short sentences.
7. Question numbers 41 to 47 in Part IV are five-mark questions. These are to be answered in detail Draw diagrams wherever necessary.

Time: 3:00 Hours
Maximum Marks: 90

PART – I

I. Answer all the questions. [20 × 1 = 20]
Choose the correct synonyms for the underlined words from the options given.

Question 1.
The place was a bedlam for birds.
(a) pandemonium
(b) peace
(c) serenity
(d) transition
Answer:
(a) pandemonium

Question 2.
He enlightened them with bon-mots.
(a) repartee
(b) wit
(c) challenges
(d) goodies
Answer:
(b) wit

Question 3.
Words of praise and adulation were showered on the debut artist.
(a) blasphemy
(b) condemnation
(c) aversion
(d) exaltation
Answer:
(d) exaltation

Choose the correct antonyms for the underlined words from the options given.

Question 4.
The princely sum was a stumbling block for her career.
(a) generous
(b) substantial
(c) prime
(d) meagre
Answer:
(d) meagre

Question 5.
Retaining my world cup was one of my greatest achievements.
(a) holding
(b) rescuing
(c) losing
(d) reviving
Answer:
(c) losing

Question 6.
I was so relieved to get my transfer order.
(a) delighted
(b) worried
(c) pleased
(d) comforted
Answer:
(b) worried

Question 7.
Choose the blended form of, “telecast”.
(a) television + broad cast
(b) television + cast
(c) tele + broad cast
(d) tele + cast
Answer:
(a) television + broad cast

Question 8.
Choose the right definition for the given term “choreography”.
(a) The art of designing steps in ballet or another staged dance, or the written steps for such movements
(b) The process of giving some of your work, duties, or responsibilities to a less senior person or a less powerful person
(c) A student of bees
(d) One who accumulates; one who collects
Answer:
(a) The art of designing steps in ballet or another staged dance, or the written steps for such movements

Question 9.
Choose the meaning of the idiom ‘At the drop of a hat’.
(a) To hear rumours about someone
(b) Do or say something exactly right
(c) To go to bed
(d) Without any hesitation; instantly
Answer:
(d) Without any hesitation; instantly

Question 10.
Choose the meaning of the foreign word in the sentence.
Leo was disappointed, but his losing the election for class president was a fait accompli.
(a) faithful friend
(b) established fact
(c) accomplished scholar
(d) standard issue
Answer:
(b) established fact

Question 11.
Choose the word from the options given to form a compound word with “child”.
(a) person
(b) hood
(c) bed
(d) call
Answer:
(b) hood

Question 12.
Form a new word by adding a suitable prefix to the root word “taken”.
(a) un
(b) mis
(c) dis
(d) en
Answer:
(b) mis

Question 13.
Choose the expanded form of “IIM”.
(a) Indian Institute of Minorities
(b) Indian Institute of Managers
(c) Indian Institute of Marine
(d) Indian Institute of Management
Answer:
(d) Indian Institute of Management

Question 14.
Choose the correct sentence pattern.
He loves his profession.
(a) SVO
(b) SVOC
(c) SVOA
(d) SVC
Answer:
(a) SVO

Question 15.
A collection of selected literary passages is known as ………….
(a) Phenomenology
(b) Anthology
(c) Phrenology
(d) Homology
Answer:
(b) Anthology

Question 16.
Fill in the blank with the suitable preposition.
Many people travel to Kerala to work ………… small companies.
(a) in
(b) under
(c) on
(d) with
Answer:
(a) in

Question 17.
Add a suitable question tag to the following statement.
Priyanka dances well,………?
(a) isn’t she
(b) doesn’t she
(c) won’t she
(d) will she
Answer:
(b) doesn’t she

Question 18.
Substitute the underlined word with the appropriate polite alternative.
The shoes looked like they had been stolen.
(a) theft
(b) lost
(c) damaged
(d) had fallen off the back of a truck
Answer:
(d) had fallen off the back of a truck

Question 19.
Substitute the phrasal verb in the sentence with a single word.
Your statement will not stand up as proof in the court of law.
(a) oppose
(b) accept
(c) deny
(d) support
Answer:
(d) support

Question 20.
Fill in the blank with a suitable relative pronoun
Tell me the name of the student ………….. you want to meet.
(a) whom
(b) which
(c) that
(d) whose
Answer:
(a) whom

PART – II

II. Answer any seven of the following: [7 × 2 = 14]
(i) Read the following sets of poetic lines and answer any four of the following. [4 × 2 = 8]

Question 21.
“I have learned to wear many faces Like dresses – home face”
(а) What has the poet learned?
(b) Mention the figure of speech employed in this line.
Answer:
(a) The poet has learned to put on appearances to conform to the changed attitude of people in modem times.
(b) Simile

Question 22.
“For he’s a fiend in feline shape, a monster of depravity.”
(a) Identify the poem and the poet.
(b) Explain the phrase ‘monster of depravity’.
Answer:
(a) The poem is ‘Macavity – The Mystery Cat’ written by T.S. Eliot.
(b) Satan is called the master of depravity. T.S. Eliot calls Macavity, the master of depravity. He means that the cat is an embodiment of evil. He is wicked and all the time involved in doing something evil.

Question 23.
“A life that knows no kneeling and bending.
We are proud and feel so tall”
(a) Who does we refer to?’
(b) What has life never experienced?
Answer:
(a) ‘We’ refers to ordinary people who live noble lives.
(b) The life of ordinary people who have not experienced kneeling or bending before the mighty. They are able to stand firm on defending the truth.

Question 24.
“Infusing him with self and vain conceit,
As if this flesh which walls about our life”
(a) Who has vain conceit?
(b) Explain the above lines.
Answer:
(a) The king has vain conceit.
(b) Death knows that all great kings must come to him. For a brief time death is generous and allows kings to rule and to be feared by their subjects. Death allows them to feel conceited and proud with an inflated image of ‘self’.

Question 25.
“And I must think, do all I can,
That there was pleasure there…”
(a) What did the poet notice about the twigs?
(b) What was the poet’s thought about then?
Answer:
(a) The budding twigs spread out their fan to catch the breezy air.
(b) The poet thought the twigs were experiencing the joy of their contact with the breezy air.

Question 26.
“This one the prize ring hates to enter
That one becomes a tackle or center,”’
(a) What game/sports is associated with “prize ring”?
(b) Which game is discussed in the second line?
Answer:
(a) Prize ring is associated with boxing.
(b) Football is discussed in the second line.

(ii) Do as Directed: (Answer any three) [3 × 2 = 6]

Question 27.
Report the following dialogue:
Tara: I went to Hyderabad to attend a seminar on environmental pollution.
Harsha: I am going to the library. Are you coming with me?
Answer:
Tara asked Harsha where he was going then. Harsha replied that he was going to the library and asked if I were coming with him.

Question 28.
Change into active voice of the following sentence.
Answer:
Alas! Her voice shall not be heard by his friends anymore.
Alas! His friends will not hear her voice anymore.

Question 29.
I did not know that you are going to visit us. I would have come to the airport. (Combine using ‘if’)
Answer:
If I had known that you were going to visit us, I would have come to the airport.

Question 30.
He was ill, but he came for practice. (Change into a compound sentence)
Besides being a good writer he is an outstanding lecturer.
Answer:
He is not only a good writer but also an outstanding lecturer.

PART – III

III. Answer any seven of the following: [7 × 3 = 21]
(i) Explain any two of the following with Reference to the Context: [2 × 3 = 6]

Question 31.
Once upon a time, son
They used to laugh with their eyes:
Answer:
Reference: These lines are from the poem, “Once upon a time” written by Gabriel Okara.

Context: The poet says these words to his son while discussing his own happy childhood days.

Explanation: The poet compares the behaviour of people in the past and those in modern . times. He tells his son that people in the past used to laugh with their eyes. There was an expression of genuine warmth among people when they laughed.

Question 32.
We deem it our duty and mission in life,
To bless and praise the deserving ones;
Answer:
Reference: These lines are from the poem “Everest is not the Only Peak” written by Kulothungan.

Context: The poet says these words highlighting the virtues of unsung heroes, who adhere to their ethical principles in life.

Explanation: They consider it their duty and mission to identify deserving people with natural talents and bless and appreciate them.

Question 33.
Let’s talk of graves, of worms, and epitaphs.
Answer:
Reference: These lines are from the poem “The Hollow Crown” by William Shakespeare. The poem is an excerpt from the play “Richard II”.

Context: King Richard II says these words while waiting for death. He is totally dejected.

Explanation: King Richard II thinks of words which could figure in the epitaph (i.e.) on his tomb stone. Being sure of death in the hands of Bolingbroke he requests his loyal courtiers to talk about death and about burial.

(ii) Answer any two of the following briefly: [2 × 3 = 6]

Question 34.
Why did Mary Kom think that she should not return empty-handed?
Answer:
Mary Korn’s dad had given all he had for her trip to USA. Besides, her friends had raised funds through MPs. They had pinned their hopes on her. So, she thought she should not return empty handed.

Question 35.
What made people wonder about the absentmindedness of their fellow-beings?
Answer:
The publication of articles lost by train travellers astonished many readers. Old people did not forget much. In fact, young men have forgotten bats and balls on their return from matches.

Question 36.
Enumerate the values instilled in the students by the Universities.
Answer:
Universities instill the values of robust optimism, respect for democracy and appreciation of others’ point of view. It also develops adjustment of differences through discussion; develop patience, perseverance, confidence, faith in themselves and others. They also instill confidence in their ability to shoulder responsibilities.

(iii) Answer any three of the following briefly: [3 × 3 = 9]

Question 37.
Re-arrange the shuffled words and frame into meaningful sentences, (change to pie chart/graph or table)

1. you/where/have/this/all/while/been?
2. this/we/visiting/Shimla/are/summer.
3. the/all/of/art/the/of/science/questions/is/and/knowledge/asking/source/

Answer:

1. Where have you been all this while?
2. We are visiting Shimla this summer.
3. The art and science of asking questions is the source of all knowledge!

Question 38.
Describe the process of Book-binding.
Answer:

1. Firstly, the pages are carefully arranged page wise. Any folding found is removed.
2. They are then arranged into sections and stitched.
3. The sides of the book are cut neatly and covered with a suitable brown paper.
4. Two card board sheets slightly bigger than the book must be pasted on both sides.
5. A calico cloth should be pasted on the closed side of the book to hold the cardboards and be allowed to dry.

Question 39.
Expand the news headlines in a sentence each.
(a) Suman Rao selected the new Miss India.
(b) 12 Injured as Buses Collide.
(c) Indian Team on the high in T20s in England.
Answer:
(a) 20-year old Miss Rajasthan 2019, Suman Rao, was awarded the most covetous crown Miss India at the finals held at Sardar Vallabhbhai Patel Indoor Stadium, Mumbai.

(b) Due to poor visibility of street lights and negligence of the State Transport Drivers two buses collided on the narrow stretch of Nammakal district near Ambedkar statue. 12 passengers including a six month old baby boy were rushed to the nearby Government hospital for treatment.

(c) Indian Team bagged the winner’s trophy and is expected to return next Monday at the Mumbai airport.

Question 40.
Complete the proverbs using the words given below.
(а) The harder you ………… the luckier you get. (throw, work, try)
(b) There is no time like the ……….. (present, future, past)
(c) ……….. and tide wait for no man. (Wind, Sea, Time)
Answer:
(a) work
(b) present
(c) Time

PART – IV

IV. Answer the following: [7 × 5 = 35]

Question 41.
How does the speaker highlight the importance of giving back to the society?
Answer:
The graduates have drawn largely from the social chest. The largest taken from the society needs to be replenished. If graduates fail to pay back, ordinary people’s coffer will be empty. The supervisor’s education enjoins greater responsibility to society. Apart from their own individual advancement, society has got a right to expect an adequate return from the graduates.

The society does not expect them to payback in cash. But they must pay back in terms of service. They should tone up the society by bringing a light into the dark alleys. They should herald sunshine into dingy places. They must give solace to the affiliated people. They should also give hope unto the despondent and thus ensure a new life unto every one.

[OR]

As a narrator, make a diary entry about the tight corner you faced at Christie’s and how you were saved from the dire situation.
Answer:
Thursday, 17th Nov. 20xx
I was lunching at a club in King James’s street. While passing along Kingstreet later, my friend suggested that we peeped in at Christie’s where an auction of Barbizon pictures was going on. The pieces of the paintings were pertaining to forest scenes, pools at evening, shepherdesses, and the regular subjects were tremendous for each ranging from two to three thousand guineas each. The remarkable thing was that nothing was sold at three figures.

After watching the auction for fun for a while I found myself bidding. I had exactly sixty three pounds in my account in the bank. I knew that any bidder must have a minimum of five hundred pounds in the bank to stand as security to bid for the artistic works. I enthusiastically participated in many bids as the starting price for each painting was a modest fifty to hundred guineas. Things went on well for me for quite sometime. But a cruel fate awaited me. A short red-faced man electrified the room by fixing the starting price at 4000 guineas. There was a rustle of excitement followed by terrible silence. But I found myself saying “and fifty”.

The dealer looked at the opener and at the company. To my surprise and horror, the dealer shot his bolt. My heart stopped and my blood congealed. I was in possession of the picture I did not want to buy. I was the top purchaser in the auction with just 63 pounds in the bank account. I turned to my friend for some moral support but he had deserted me to have a hearty laugh at a distance. With great alarm, I saw many other Barbizon pictures being put up and sold.

The auction came to an end. The bidders stood in a queue to pay the price and collect the pictures. I stayed behind at the end of the queue as I could not recall the name of any uncle, aunt or even a relative who could offer me 4050 guineas to buy the painting. I wished that a firing squad could give me a welcome relief by shooting me down. I preferred death to public disgrace.

But something divine turned my tragedy into a comedy. Just then one gentleman enquired if I was the gentlemen who bought “big Daubigny”. I admitted. The mediator asked if I could take 50 guineas for my interest and give up my claim. I would have hugged him and wept for joy of relief from the tight comer. But I had the guile/presence of mind to ask, “Is that the most he would offer?”

The mediator said that there was no harm in trying for a bit more. I said, “Tell him I will take hundred” myself and my friend started laughing. But when I saw the cheque for hundred guineas, I became grave. My friend said to me that it was he who brought me to Christie. I admitted, “I shall never forget it. It is indelibly branded in letters of fire on my heart”.

Question 42.
Describe the various reasons for King Richard’s grief and distress.
Answer:
King Richard II is a popular king. He has many nobles at the service. His rebellious cousin Bolingbroke attacks him with 10,000 men on his side. He sends message to the Welsh King for sending his army to defeat Bolingbroke. But to his shock, Welsh army is not sent. He realizes with alarm the terrible fate he would suffer in the hands of his foe and his most impending death in captivity. King Richard is reminded of the power of death that overshadows everything else. Death scoffs at the power of rulers.

Losing the battle, non¬receipt of Welsh army and the prospect of being jailed and killed worries Richard II. He realizes that in the hollow crown death had reigned him. In fact, death, a jester had misled him to believe that he was monarchising England. He can now only own a small patch of barren land. He is not an impregnable castle of brass anymore. He is an ordinary mortal. He too needs friends and needs to taste grief and face death.

[OR]

The poem ’Everest is not the only peak’ does not focus on the destination but the journey towards it. Discuss.
Answer:
The poet discusses the merits of efforts, duty and devotion and values of honesty, uprightness and service-mindedness. He does not have any special appreciation to those who reach great peaks like Himalayas. He appreciates the process, the journey and not the destination. When the whole world has a perspective of seeking glory using any foul method or underhand dealing, the poet differs from it.

For him the means is more important than the end. However modest may be one’s position is, it is adorable if attained by competence and merit. Pride is not in heights one reaches but in a life that knows no bending or kneeling. The poet respects one who does not stoop as a king. Thus the poet pays importance to the journey of life not the destination.

Question 43.
Write an essay of about 150 words by developing the following hints.
“After Twenty Years,” – time – 10 o’clock at night, – depeopled the streets – Only two men – on street – that night – policeman approaches – lurking man – light from his match – shows a pale face – keen eyes, a scar in eyebrow – a scarf pin – diamond – expensive watch – all hints as to the man’s past.
Answer:
The short story “After Twenty Years” Jakes place around 10 p.m. along a dark, windy New York City business avenue, mostly within the darkened doorway of a closed hardware-store.- This particular location had been a restaurant until five years ago. The plot begins with a policeman “on the beat” who discovers a.man standing in the dark doorway. The man then proceeds to explain why he is there. He and his best friend, Jimmy Wells had parted exactly twenty years ago to make their fortunes and had promised to meet at that spot “After Twenty Years”. He had gone west and gotten rich and was sure his friend, Jimmy would meet him if he were alive.

They talked a while and the policeman carried on. The man from the west wonders if his friend will come. The drama increases in anticipation of the rendezvous. Twenty minutes later, another man, whom we assume is his long lost friend, greets him warmly and they walk arm in arm discussing careers until they come to a well-lit comer near a drug store.

The man from the west gets a good look at his companion and discovers that he is not his friend, Jimmy. We are treated to several surprises for the man from the west is under arrest and secondly he is actually ‘Silky Bob’, a gangster from Chicago and finally the stranger is a plainclothes policeman. However, it seems that these three surprises are not enough. We get the “real” surprise when Jimmy Wells, the original policeman didn’t have the heart to arrest Bob, because he was his friend.

[OR]

Narrator – wants – photograph – photographer wait for an hour – comments – angry – called on Saturday – proof – Narrator shocked – photograph – not like him – worthless bauble.
Answer:
‘With the Photographer’ by Stephen Leacock is narrated in the first person. The narrator while sitting in the photographer’s studio begins to read some magazines and sees how other people look and the narrator begins to feel insecure about his appearance. It is also noticeable that the photographer takes a dislike to his face judging it to be wrong. What should have been a simple process of taking a photograph becomes something of a nightmare for the narrator. How confident the narrator becomes is noticeable when he returns to the photographer’s studio the following Saturday.

He realises that the photograph that has been taken of him looks nothing like him. This angers the narrator as he was simply looking for a photograph that would show his likeness. He accepts that he may not be to everybody’s liking when it comes to his physical appearance but is angered by the changes made. The photographer has retouched the photograph so much that the narrator does not recognise himself. The end of the story is also interesting as the reader realises that it is just a worthless bauble when he begins to cry. He has been judged solely by his appearance by the photographer whose job was to simply take a life like photograph.

Question 44.
Write a summary or Make notes of the following passage.
Answer:
The greatness of a country depends upon its people. India is fortunate to have vast human resources. Our countrymen are second to none in intelligence and in doing hard work. From the ancient period Indians excelled in art, architecture, knowledge of metals, medicines, literature etc., After our independence in 1947, the Government took steps to improve our country in all sphere. By the first Five-Year Plan was specially designed to improve our irrigational methods.

By the five year plans, provisions are made for the development of the country. The first Five-Year Plan was specially designed to improve our irrigational methods. By the green revolution we attained self sufficiency in the field of agricultural production. The present age is the atomic age. India too established an Atomic Energy Commission under the guidance of Dr. BhabhaI India made the first successful nuclear explosion on 18th Mary, 1974 which made India the sixth member of the world nuclear club. No other country’s scientists helped; it was purely Indian efforts. We have sent our Indian cosmonaut to space also. On April 3, 1984 Shri Rakesh Sharma, the best pilot of Indian Air Forse, travelled into space with two Soviet spacemen in Spyuz II spaceship.
Answer:
Summary
No. of words given in the original passage: 199
No. of words to be written in the summary: 199/3 = 66 ± 5

Rough Draft
India is fortunate to have vast human resources. Our countrymen are second to none in inteIligence and in doing hard work. Ancient Indians excelled in art, architecture, metallurgy, medicine, literature etc., After Independence, by the five year plans, provisions are made for the development of the country. By the green revolution self sufficiency in agricultural production was attained. Present age is the atomic age. An Atomic Energy Commission under the guidance of Dr. Babha. Due to the successful nuclear explosion in 1974, India the sixth member of the world nuclear club. It was purely Indian efforts. We have to sent Rakesh Sharma to space in Soyuz II.

Fair Draft
Greatness of India
India is fortunate to have vast human resources. Ancient Indians excelled in art, architecture, metallurgy, medicine, literature etc. After Independence by the green revolution self sufficiency in agricultural production was attained. Present age is the atomic age. Atomic Energy Commission was established under the guidance of Dr. Bhabha. Due to the successful nuclear explosion in 1974, India is the sixth member of the world nuclear club.

No. of words in the summary: 64

[OR]

Note-making
Title: Greatness of India
Answer:
1. Greatness of the country
people
our country men are second to none
from the ancient times Indians excelled in arts, architecture, metallurgy, medicine, literature etc.

2. Post Independence
government took steps to improve in all spheres
the first five-year plan was designed
Green Revolution attained self sufficiency

3. Present age
atomic age
India made the first nuclear explosion in 1974
sixth member of the world nuclear club
India sent cosmonaut, Shri Rakesh Sharma to space with two Soviet spacemen in Soyuz II spaceship.

Question 45.
You are Anita. You recently visited a hill station along with your parents. It was an exhilarating, adventurous and joyful experience. Write a letter to your friend sharing your experience in 150-200 words.
Answer:

25th June, 2020

From
Anitha
6, West street,
Chennai
To
Mercy
6, Abraham Street
PeriyarNagar
Chennai – 600 014

Dear Mercy,
Hope my letter finds you in the best of your health. Have you been to your grandparents house for vacation? I had recently gone to Matheran with my parents and really missed you. Matheran is the smallest hill station in the Indian state of Maharashtra and is located on the Western Ghats range at an elevation of around 800 m above sea level. It is about 90 km from Mumbai. Matheran’s proximity to many metropolitan cities makes it a popular weekend getaway for urban residents. Matheran, which means “forest on the forehead” is an eco-sensitive region declared by the Government of India.

It is Asia’s only automobile-free hill station. Doesn’t that spark an exhilarating, adventurous and joyful experience? Yes, from the foothills of the mountain, you either need to walk up the mountain to lodges and cottages there for your accommodation or need to hire Cycle rickshaws or ponies to travel. We all took a horse each and my little brother got on to a pony. Our baggage was loaded on to a wheel barrow to be brought up to our destination.

There are around 38 designated viewpoints in Matheran, including the Panorama Point that provides a 360-degree view of the surrounding area and also the Neral town. From this point, the view of sunset and sunrise is dramatic. The Louisa Point offers crystal clear view of the Prabal Fort. The other points are the One Tree Hill Point, Heart Point, Monkey Point, Porcupine Point, Rambagh Point, and more. We stayed in a Parsi bungalow. Beautiful old British-style architecture is preserved in Matheran. The roads are not metalled and are made of red laterite earth. As anticipated, there are many monkeys around and even the summer season was very pleasant.

I hope to visit the place again and I hope we will get an opportunity to visit it together. Why don’t you ask your parents if both our families could go to Matheran during our next vacation? My parents too were talking about going there again since it’s such a pollution free spot to relax and enjoy. Looking forward to meeting you in person to share the photographs we have taken here.

Yours loving friend,
Anita
Address on the Envelope
To
Mercy
6, Abraham Street
PeriyarNagar
Chennai – 600 014

[OR]

Write an essay in about 150 words on ‘Punctuality’
Answer:
Punctuality is essential to succeed in one’s career. In business schools, Time management is also taught. Those who are punctual prove that they respect the time of those whom they visit. Those who have missed interviews, flights, Olympic golds and even the opportunity to win goes by milliseconds know the value of time. We should cultivate the quality of being punctual right from our student days. Maintaining a calendar of action and keeping track of time all the time would help one to be punctual. God gives twenty four hours to each one of us, if we are punctual and make most of the given time we would definitely succeed in life.

Question 46.
Read the following sentences, spot the errors and rewrite the sentences correctly.
(a) There is an University at Madurai.
(b) He is confident on his success.
(c) Though he is old but he walks steadily.
(d) Sam is junior than me.
(e) His father is a honest man.
Answer:
(a) There is a University at Madurai.
(b) He is confident of his success.
(c) Though he is old he walks steadily.
(d) Sam is junior to me.
(e) His father is an honest man.

[OR]

Fill in the blanks appropriately.
(a) The story told by the ……….. fat man is not ………… (credible/credulous)
(6) My keys ……….. be in the car. (Fill in with a modal verb)
(c) This watch …………. belong to my father, (use semi-modal)
(d) The strike was announced ………… the disagreement between the management and the employees on the bonus issue. (Use a suitable link word)
Answer:
(a) credulous, credible
(b) must
(c) used to
(d) on account of

Question 47.
Identify each of the following sentences with the fields given below.
(a) Robots are steadily moving from fiction to fact.
(b) Examination should evaluate all aspects of learning.
(c) Indian players have performed well in the Commonwealth Games.
(d) Napoleon Bonaparte was considered an enlightened monarch of France.
(e) “Health is Wealth” but pollution takes it all away.
(Sports, Environment, History, Science, Education)
Answer:
(a) Science
(b) Education
(c) Sports
(d) History
(e) Environment

[OR]

Read the following passage carefully and answer the questions that follow.

I have always been attracted by people of unusual habits. By this, I do not imply hippies and drop-outs or anyone of that band of unhappy people for whom modem society is too sick and uncivilized to bear. No, I mean those quiet, orderly people, living apparently blameless lives, who enrich their har humdrum existences by adopting odd quirks and passions, unlikely, routines or harmless manias for useless objects. Like the secretary I had, who collected earwigs, though what she did with them I never knew, I believe that she loved them because they were small and thin like herself and had a way of scuttling about in very much the same way she did. Life, I am sure, would be very much poorer without such people in it. Sometimes, I feel I am lacking in personality, since I have none of these strange habits.. Unless you count the fact that I never eat eggs unless they are boiled in milk.
Questions.

1. What attracted the author?
2. According to the author, who are the people who have unusual habits?
3. What did the author’s secretary collect?
4. Why did she love them, according to the author?
5. Do you think that the author has any strange habit? If so, what is it?

Answer:

1. Unusual habits of others attracted the author.
2. Quite orderly people living blameless lives have unusual habits.
3. The author’s secretary collected ‘earwigs’.
4. They were small and thin like herself scuttling about.
5. Yes, he has a habit of eating eggs which are only boiled in milk.

Students can Download Tamil Nadu 11th Commerce Model Question Paper 3 English Medium Pdf, Tamil Nadu 11th Commerce Model Question Papers helps you to revise the complete Tamilnadu State Board New Syllabus, helps students complete homework assignments and to score high marks in board exams.

TN State Board 11th Commerce Model Question Paper 3 English Medium

General Instructions:

1. The question paper comprises of four parts.
2. You are to attempt all the parts. An internal choice of questions is provided wherever applicable.
3. All questions of Part I, II, III and IV are to be attempted separately.
4. Question numbers 1 to 20 in Part I are Multiple Choice Questions of one mark each.
   These are to be answered by choosing the most suitable answer from the given four alternatives and writing the option code and the corresponding answer
5. Question numbers 21 to 30 in Part II are two-mark questions. These are to be answered in about one or two sentences.
6. Question numbers 31 to 40 in Part III are three-mark questions. These are to be answered in above three to five short sentences.
7. Question numbers 41 to 47 in Part IV are five-mark questions. These are to be answered in detail Draw diagrams wherever necessary.

Time: 2:30 Hours
Maximum Marks: 90

PART – I

Choose the correct answer. Answer all the questions. [20 × 1 = 20]

Question 1.
Which bank has the power to issue bank notes?
(a) Central bank
(b) Commercial bank
(c) Co – operative banks
(d) Foreign banks
Answer:
(a) Central bank

Question 2.
Which one is not land transport?
(a) Pack animals
(b) Bullock cart
(c) Tramways
(d) Liner
Answer:
(d) Liner

Question 3.
Occupation of a Doctor is called …………………..
(a) Employment
(b) Business
(c) Profession
(d) Sole proprietor
Answer:
(c) Profession

Question 4.
Match List – I with List – II and select the correct answer using the codes given below:

List – I	List – II
(i) Wholesaler	1. Mercantile agent
(ii) Retailer	2. Particular line of products
(iii) Single line stores	3. Small qunatities
(iv) Broker	4. First middlemen

Answer:
Codes:

Question 5.
Primary industries may be divided as follows:
(I) Extractive industries
(II) Manufacturing industries
(III) Genetic industries
(IV) Construction industries
(a) (I) and (II)
(b) (II) and (III)
(c) (I) and (III)
(d) (I) and (IV)
Answer:
(c) (I) and (III)

Question 6.
Centralised control in MNCs implies control exercised by ………………………
(a) Branches
(b) Subsidiaries
(c) Headquarters
(d) Parliament
Answer:
(c) Headquarters

Question 7.
Large scale fixed retailers include ………………………..
(a) Super markets
(b) Speciality stores
(c) General stores
(d) Second shops
Answer:
(a) Super markets

Question 8.
Exim Bank was set up in the year ……………………..
(a) 1949
(b) 1972
(c) 1935
(d) 1982
Answer:
(d) 1982

Question 9.
Social responsibility towards employees represents the following except ………………………
(a) Reasonable remuneration
(b) Proper facilities
(c) Social security
(d) Exploitation
Answer:
(d) Exploitation

Question 10.
Which one of the following is not correctly matched?
(a) Imperial bank – Mumbai
(b) RBI – 2013
(c) RTGS – Commercial bank
(d) Development banks – SBI
Answer:
(d) Development banks – SBI

Question 11.
Enterprises operating in several countries but managed from one country is termed as ………………………
(a) Government company
(b) Multinational company
(c) Private company
(d) Joint venture
Answer:
(b) Multinational company

Question 12.
The money can be withdrawn from the PPF, after …………………….. years.
(a) 14
(b) 13
(c) 15
(d) 12
Answer:
(c) 15

Question 13.
The exporters appoint a ……………………. to fulfill the customs formalities.
(a) Clearing agent
(b) Forwarding agent
(c) Commission agent
(d) Factor
Answer:
(b) Forwarding agent

Question 14.
The compensation given for breach of contract is ………………………..
(a) Damage
(b) Remuneration
(c) Money
(d) Cheque
Answer:
(a) Damage

Question 15.
Ethics is important for ………………………
(a) Top management
(b) Middle level managers
(c) Non – managerial employees
(d) All of them
Answer:
(d) All of them

Question 16.
World Bank is located at ……………………..
(a) Washington DC
(b) Newyork
(c) Tokyo
(d) Hongkong
Answer:
(a) Washington DC

Question 17.
Which of the following is not a function of a central bank?
(a) Guiding and regulating the banking system of country
(b) Deal with the general public
(c) Acts as government banker
(d) Maintains deposit accounts of all other bank
Answer:
(b) Deal with the general public

Question 18.
Dispersal of decision making power to branches/affiliates/subsidiaries is by the head officer represents ………………………..
(a) Centralisation
(b) Decentralisation
(c) Power
(d) Integration
Answer:
(b) Decentralisation

Question 19.
The document which authorises to deliver the goods either in part or full is called ………………………….
(a) Warehouse warrant
(b) Dock receipt
(c) Dock warrant
(d) None of these
Answer:
(c) Dock warrant

Question 20.
Which of the following holder is given voting rights?
(a) Debentures
(b) Preference shares
(c) Equity shares
(d) Bonds
Answer:
(c) Equity shares

PART – II

Answer any seven questions in which question No. 30 is compulsory. [7 × 2 = 14]

Question 21.
Warehouses mean the places to store the goods for future purpose. It renders invaluable services to the society by performing the various functions. Give any three functions of warehouses?
Answer:

1. Storage
2. Price stabilization
3. Equalization of demand and supply

Question 22.
Murugan is the famous auditor in Madurai. Identify the type of economic activity highlighted in the case. Write the meaning of it?
Answer:
The economic activity highlighted in this case is profession. Profession means something which is more than a job. For the profession a special qualification is necessary. The income from the profession is professional fee. It may be different from one profession to another profession.

Question 23.
Define commerce?
Answer:
According to Evelyn Thomas, “Commercial operations deal with the buying and selling of goods, the exchange of commodities and the contribution of finished products”.

Question 24.
Insurance covers different types of risks. It can be broadly classified into

1. Life insurance
2. Non – life insurance. What is the other name for Non – life insurance? How it is classified?

Answer:
The other name for Non – life insurance is called as General insurance. It can be further classified into:

1. Fire insurance
2. Marine insurance
3. Health insurance
4. Miscellaneous insurance

Question 25.
Write any two differences between warehouse warrant and warehouse receipt?
Answer:

Warehouse Warrant	Warehouse Receipt
1. It is a document of title of goods.	1. It is not a document of title of goods.
2. It is not only an acknowledgement for the receipt of goods but also gives an authority to get delivery of goods by the owner or by third party.	2. It is only an acknowledgement for the receipt of goods.

Question 26.
Briefly explain the need for Debit card?
Answer:
ATM card is also called debit card. This card is more useful in purchase of goods and services anywhere in India if the shop maintains a swiping machine facility.

Question 27.
What is a Statutory Company?
Answer:
Companies are established by a Special Act passed in Parliament or State Assembly. Rules relating to day – to – day management of statutory companies are specified in the Articles of Association (AOA). Examples: LIC, RBI, Railways, etc.

Question 28.
Write any two advantages of MNC?
Answer:
1. Low Cost Labour:
MNC set up their facilities in low cost countries and produce goods/services at lower cost.

2. Quality Products:
The resource, experience and expertise of MNCs in the sphere of research and development enables the host country to establish its research and development system which helps it in producing quality goods and services at least possible cost.

Question 29.
How the RBI is acting as banker to the government?
Answer:
RBI is acting as a banker to the government. It is one of the traditional functions of RBI. It accepts money into central and state government’s accounts and make payments on their behalf. It manages the governments debts. It advises the government and the terms of new loans.

Question 30.
Write short note on debentures?
Answer:
Debentures are an important instrument for raising long term debt capital. A company can raise funds through issue of debentures which bear a fixed rate of interest.

PART – III

Answer any seven questions in which question No. 40 is compulsory. [7 × 3 = 21]

Question 31.
At first the co – operative movement was started by Robert Owen in the year 1844. Who are Rochdale pioneers?
Answer:
At first, the cooperative movement was started by Robert Owen, in the year 1844. He formed a consumer’s cooperative society in England with 28 workers as members, called “Rochdale Society of Equitable Pioneers”.

Question 32.
List the steps in factoring process?
Answer:
Factoring is derived from a Latin term “facere” which means ‘to make or do’. Factoring is an arrangement wherein the trade debts of a company are sold to a financial institution at a discount.

Factoring Process:

1. The firm enters into a factoring arrangement with a factor, which is generally a financial institution.
2. Whenever goods are sold on credit basis, an invoice is prepared and a copy of the same is sent to the factor.
3. The debt amount due to the firm is transferred to the factor through assignment.
4. On the due date, the amount is collected by the factor from the customer.
5. After retaining the service fees, the remaining amount is sent to the firm by the factor.

Question 33.
List out the products produced by MSME in Tamil Nadu?
Answer:
In Tamil Nadu, MSMEs sector produces a wide variety of products in almost all fields. The prominent among them are the textile, electronic products, engineering products, auto ancillaries, leather products, chemicals, plastics, garments, jewellery etc.

Question 34.
What do you understand by Burglary Insurance?
Answer:
Burglary Insurance: This policy comes under the category of insurance of property. Any loss of damage due to theft, larceny, burglary, house breaking and acts of nature are covered by this policy. Compensation of actual loss is done.

Question 35.
It is the oldest form of organisation. It is administrated by a separate department. What is the form of organisation? Describe any three features of this organisation?
Answer:
1. Formation:
A departmental undertaking is established either as a separate full-fledged ministry or as a sub-division of a ministry (i.e. department) of the Government.

2. No Separate Entity:
A departmental undertaking does not have an independent entity distinct from the Government.

3. Accounting and Audit:
The departmental undertaking is subject to the normal budgeting, accounting and audit procedures, which are applicable to all Government departments.

Question 36.
Mention any three rights of partners?
Answer:
Rights of Partners;

1. Right to take part in business: Every partner has a right to take part in the management of the business.
2. Right to consult: Every partner has the right to consult in all the matters concerning the firm.
3. Right to share profit: Every partner is entitled to share the profits in the agreed ratio. If no ratio is specified in the deed, the profit must be shared equally.

Question 37.
Explain the features of general stores?
Answer:
General Stores sell a wide variety of products under one roof, most commonly found in a local market and residential areas to satisfy the day – to – day needs of the customers residing in nearby localities. They remain open for long hours at convenient timings and often provide credit facilities to their regular customers.

Question 38.
It is a policy taken as a safeguard against the medical costs. It is a contract between an insurer and an individual or a group. What is the name of the policy? Mention a few points about this?
Answer:
In mid 80’s, most of the hospitals in India were government owned and treatment was free of cost. With the advent of Private Medical Care, the need for Health Insurance was felt and various Insurance Companies introduced Health Insurance as a Product. Presently the health insurance exists primarily in the form of ‘Mediclaim policy’.

Question 39.
Without money customers can purchase costly articles with this method. It is useful to Middle – class people. There are two methods- hire purchase and installment system. Mention any three differences between hire purchase and installment system?
Answer:

Question 40.
What is meant by government company?
Answer:
A “Government company” is defined under Section 2(45) of the Companies Act, 2013 as “any company in which not less than 51% of the paid – up share capital, is held by the Central Government, or by any State Government or Governments, or partly by the Central Government and partly by one or more State Governments, and includes a company which is a subsidiary company of such a Government company”.

PART – IV

Answer all the questions. [7 × 5 = 35]

Question 41 (a).
Compare business with profession and employment?
Answer:

[OR]

(b) Explain the different types of warehouses on the basis of ownership?
Answer:

• Private Warehouses: Private warehouses are built and owned by private business enterprises in order to store the products produced by them.
• Government Warehouses: They are created and operated by the Government to implement the programmes of the Government.
• Public Warehouse: It is open for public at large. Most of the business organisations, especially small and medium scale units cannot afford to have their own warehouses.
• Co-operative Warehouses: There are warehouses owned and managed by the marketing co-operative societies or agricultural co-operative societies. They are setup to provide warehousing facilities to their members.
• Bonded Warehouses: Bonded warehouses are those warehouses, which are licensed
  by the government to accept storage of imported goods which are not cleared due to non-payment of customs duty by the importer.

Question 42 (a).
Discuss the advantages of transport?
Answer:
(A) Advantages of railway transport:

1. Railways are well suited for carrying heavy and bulky goods over long distances.
2. It can provide long distance travel throughout the day and night with unbroken services.

(B) Advantages of inland waterways:

1. It is considered as the cheapest mode of transport among the other modes of transport.
2. It is most suitable for heavy loads.

(C) Advantages of air transport:

1. It provides a regular, convenient, efficient and quick service.
2. Perishable goods like fruits, vegetables, egg, meat, etc., can be transported quickly.

[OR]

(b) Explain the principles of insurance?
Answer:
1. Utmost Good Faith:
According to this principle, both insurer and insured should enter into contract in good faith. Insured should provide all the information that impacts the subject matter. Insurer should provide all the details’regarding insurance contract.

2. Insurable Interest:
The insured must have an insurable interest in the subject matter of insurance. Insurable interest means some pecuniary interest in the subject matter of the insurance contract.

3. Indemnity:
Indemnity means security or compensation against loss or damages. In insurance, the insured would be compensated with the amount equivalent to the actual loss and not the amount exceeding the loss. This principle ensures that the insured does not make any profit out of the insurance. This principle of indemnity is applicable to property insurance alone.

4. Causa Proxima:
The word ‘Causa proxima’ means ‘nearest qause’. According to this principle, when the loss is the result of two or more cause, the proximate cause, i.e. the direct. The direct, the most dominant and most effective cause of loss should be taken into consideration. The insurance company is not liable for the remote cause.

5. Contribution:
The same subject matter may be insured with more than one insurer then it is known as ‘Double Insurance’. In such a case, the insurance claim to be paid to the insured must be shared on contributed by all insurers in proportion to the sum assured by each one of them.

6. Subrogation:
Subrogation means ‘stepping the shoes on others’. According to this principle, once the claim of the insured has been settled, the ownership right of the subject matter of insurance passes on to the insurer.

7. Mitigation:
In case of a mishap, the insured must take off all possible steps to reduce or mitigate the loss or damage to the subject matter of insurance.

Question 43 (a).
Business owned by a single person is known as sole trading business. He contributes the required capital. Explain the characteristics of sole trading business?
Answer:

1. Ownership by one man: This is owned by single person. The sole trader contributes the required capital. He is not only the owner of the business but also manages the entire affairs.
2. Freedom of work and Quick Decisions: Since an individual is himself as a owner, he need not consult anybody else. Hence he can take quick decisions.
3. Unlimited Liability: When his business assets are not sufficient to pay off the business debts he has to pay from his personal property.
4. Enjoying Entire Profit: He strives tirelessly for the improvement and expansion of his business and enjoys all the benefits of his hard work.
5. Absence of Government Regulation: A sole proprietor concern is free from Government regulations. No legal formalities are to be observed in its formation, management or in its closure.
6. No Separate Entity: The sole trading concern comes to an end with death, disability, insanity and insolvency of the individual.
7. Maintenance of Secrecy: Since he/she manages all the affairs of the business, the secrecy can be maintained easily.

[OR]

(b) What are the rights of a partner?
Answer:

1. Right to take part in business: Every partner has a right to take part in the management of the business.
2. Right to be consultant: Every partner has the right to be consulted in all the matters concerning the firm. The decision of the majority will prevail in all the routine matters.
3. Right of access to books, record and document: Every partner has the right of access to all records and books of accounts, and to examine and copy them.
4. Right to share profit: Every partner is entitled to share the profits in the agreed ratio. If no profit – sharing ratio is specified in the deed, they must be shared equally.
5. Right to receive interest: A partner has the right to receive interest on loans advanced by him to the firm at the agreed rate, and where no rate is stipulated, interest @ 6% p.a. allowed.

Question 44 (a).
Briefly explain the auxiliaries to trade?
Answer:
1. Commerce includes not only trade but also services such as transport, warehousing, packaging, insurance, banking and sales promotion which are incidental or auxiliaries to trade.

2. Trade: The term trade is used to denote buying and selling. Therefore who buys and sells is a trader. A trader is a middleman between the producer and the consumer.

3. Transportation: Goods produced are to be sent to different places where they are demanded. It is done by transporting.

4. Banking: To start the business or to run it smoothly, we need money. Banks supply money in the form of loan. Business activities cannot be undertaken unless funds are available. The funds can be obtained from the bank.

5. Insurance: Business involves many types of risks. Factory building, machinery, furniture must be protected against fire, theft and other risks. Employees are also protected against the risk of accident. Insurance provides protection in all such cases.

6. Warehousing: Usually goods are not sold or consumed immediately after the production. They are to be kept in stock to make them available as and when required. Warehousing helps the firms to overcome the problem of storage and stores the goods for future usage.

[OR]

(b) A Joint stock company is a distinct form of business organisation. It is useful to overcome the limitations of sole trader and partnership. There are so many features of company. What are the characteristics of Joint stock company?
Answer:
Characteristics of a Joint stock Company:
1. Separate legal entity:
Under Incorporation a company becomes a separate legal entity as compared to its members. The company is distinct and different from its members.

2. Limited Liability:
The liability of the members of the company is limited to contribution to the assets of the company upto the face value of shares held by him. A member is liable, to pay only the uncalled money due on shares held by him.

3. Transferability of shares:
Shares in a company can be freely transferable. When a member transfers his shares to another person, the transferee becomes the shareholder of the company.

4. Common Seal:
A company is an artificial person and does not have a physical presence. So the common seal is necessary because the company cannot sign the documents. It is the official signature of the company.

5. One Share – One Vote:
The principle of voting in a company is one share – one vote. If a person has 10 shares, he has 10 votes in the company. So in a company, money is given more importance than a man.

Question 45 (a).
List out the advantages of international trade?
Answer:

1. Geographical Specialization: Countries across the world differ significantly in terms of natural resources, capital equipment, manpower, technology and land and so on.
2. Optimum use of Natural Resources: International business operates on a simple principle that a country which can produce more efficiently and trade the surplus production with other countries has to procure what it cannot produce more efficiently.
3. Economic Development: International business helps the developing countries greatly in achieving rapid economic development by importing machinery, equipment, technology, talent, and so on.
4. Generation of Employment: International business generates employment opportunities by assisting the expansion and growth of agricultural and industrial activities.
5. Higher Standard of Living: On account of international business, the citizens of the country can buy more varieties of goods and services which cannot be produced cost effectively within the home country.
6. Price Equilisation: International business helps to stabilize the prices of various commodities which are fluctuating on a daily basis in the world market.
7. Prospects for Higher Profit: International business helps the firms which produce goods in excess to sell them at relatively higher price to various countries in the international market.
8. Capacity Utilisation: International business enables the firms across the country to sell their goods and services on a large scale in the international market.
9. International Peace: International business makes countries across the world become inter-dependent while these countries are independent in their functioning.

[OR]

(b) Write down the structure of capital account?
Answer:
Capital account consists of three components:

1. Private Capital
2. Banking Capital
3. Official Capital

1. Private Capital:
Private capital consists of foreign investments, long term loan and foreign currency deposits.

2. Banking Capital:
Banking capital includes movement into external financial asset and liabilities commercial and co-operative banks authorized to dealing in foreign exchange.

3. Official Capital:
It includes RBI’s holdings of foreign currency and special drawing rights (SDR) held by the Government.

Question 46 (a).
What are the advantages of sole trading business?
Answer:
1. Easy Formation:
No legal formalities are required to initiate a sole trading concern. Any person capable of entering into a contract can start it, provided he has the necessary resources for it.

2. Incentive to Work hard:
There is a direct relationship between effort and reward. The fact that the entire profit can be taken by himself without sharing with anybody else induces him to work ceaselessly.

3. Small Capital:
Small capital is an important as well as specific advantage of sole proprietorship. Sole proprietor can start business with small capital.

4. Credit Standing:
Since his private properties are held liable for satisfying business debts, he can get more financial assistance from others.

5. Personal Contact with the Customers:
Since sole proprietor knows each and every customer individually he can supply goods according to their taste and preferences. Thus he can cultivate personal relationship with the customers.

6. Flexibility:
The sole trader can easily adjust himself to the changing requirements of his business.

[OR]

(b) What are the factors influencing a channel of distribution? Explain any five?
Answer:
The factors affecting a channel of distribution are as follows:

1. Product Characteristics:
Seasonal products are distributed through less layer of middlemen. Non standardized products that are made according to customer specifications may be delivered directly.

2. Market Characteristics:
The size of the market for the goods is a major factor while selecting the route for distribution of products.

3. Number of Consumers:
Large purchases made by few consumers require centralised distribution.

4. Middlemen factor:
Middlemen who are experienced and have produced more sales are wanted by all producers. Long channel naturally increases the cost and price of the product.

5. Capacity of the Manufacturer:
A financially strong producer may select a high technology oriented channel which will reduce cost in the long run.

Question 47 (a).
Explain the features of a government company?
Answer:
The features of a government company:

1. Registration Under the Companies Act:
A Government company is formed through registration under the Companies Act, 1956; and is subject to the provisions of this Act, like any other company.

However, the Central Government may direct that any of the provisions of the Companies Act shall not apply to a Government company or shall apply with certain modifications. .

2. Executive Decision of Government:
A Government company is created by an executive decision of the Government, without seeking the approval of the Parliament or the State Legislature.

3. Separate Legal Entity:
A Government company is a legal entity separate from the Government. It can acquire property; can make contracts and can file suits, in its own name.

4. Whole or Majority Capital Provided by Government:
The whole or majority (at least 51%) of the capital of a Government company is provided by the Government; but the revenues of the company are not deposited into the treasury.

5. Majority of Government Directors:
Being in possession of a majority of share capital, the Government has authority to appoint majority of directors, on the Board of Directors of a government company.

[OR]

(b) What are the advantages of co-operatives? Explain any five?
Answer:
Advantages of co – operatives:

1. Voluntary organisation:
The membership of a cooperative society is open to all. Any person with common interest can become a member. The membership fee is kept low so that everyone would be able to join and benefit from cooperative societies.

2. Easy formation:
Cooperatives can be formed much easily when compared to a company. Any 10 members who have attained majority can join together for forming a cooperative society by observing simple legal formalities.

3. Democracy:
A co – operative society is run on the principle of ‘one man one vote’. It implies that all members have equal rights in managing the affairs of the enterprises.

4. Equal distribution of surplus:
The surplus generated by the cooperative societies is distributed in an equitable manner among members. Therefore all the members of the cooperative society are benefited.

5. Limited liability:
The liability of the members in a cooperative society is limited to the extent of their capital contribution. They cannot be personally held liable for the debts of the society.

Students can Download Tamil Nadu 11th English Model Question Paper 4 Pdf, Tamil Nadu 11th English Model Question Papers helps you to revise the complete Tamilnadu State Board New Syllabus, helps students complete homework assignments and to score high marks in board exams.

TN State Board 11th English Model Question Paper 4

General Instructions:

1. The question paper comprises of four parts.
2. You are to attempt all the parts. An internal choice of questions is provided wherever applicable.
3. All questions of Part I, II, III and IV are to be attempted separately.
4. Question numbers 1 to 20 in Part I are Multiple Choice Questions of one mark each.
   These are to be answered by choosing the most suitable answer from the given four alternatives and writing the option code and the corresponding answer
5. Question numbers 21 to 30 in Part II are two-mark questions. These are to be answered in about one or two sentences.
6. Question numbers 31 to 40 in Part III are three-mark questions. These are to be answered in above three to five short sentences.
7. Question numbers 41 to 47 in Part IV are five-mark questions. These are to be answered in detail Draw diagrams wherever necessary.

Time: 3:00 Hours
Maximum Marks: 90

PART – I

I. Answer all the questions. [20 × 1 = 20]
Choose the correct synonyms for the underlined words from the options given.

Question 1.
She yanked at the zip of the bag.
(a) jerked
(b) yearned
(c) yelled
(d) jumped
Answer:
(a) jerked

Question 2.
The felicitation programme was highly commendable.
(a) falcon
(b) congratulatory
(c) felling
(d) calliper
Answer:
(b) congratulatory

Question 3.
I dare not answer my mother when she is hysterical.
(a) avoid
(b) dauntless
(c) desire
(d) aggravate
Answer:
(b) dauntless

Choose the correct antonyms for the underlined words from the options given.

Question 4.
I had to ponder on the situation.
(a) consider
(b) contemplate
(c) ignore
(d) reflect
Answer:
(c) ignore

Question 5.
I relished the fruit and its taste.
(a) savoured
(b) enjoyed
(c) disliked
(d) candies
Answer:
(c) disliked

Question 6.
The students protested against child abuse.
(a) dissent
(b) proclaimed
(c) accepted
(d) averted
Answer:
(c) accepted

Question 7.
Choose the blended form of “picture and element”.
(a) pixel
(b) picel
(c) piclem
(d) picment
Answer:
(a) pixel

Question 8.
Choose the right definition for the given term “cartography”.
(a) One who is tenacious of a strict adherence to official formalities
(b) The ethical theory that pleasure is the highest good and proper aim of human life
(c) Prejudice, stereotyping, or discrimination on the basis of a person’s sex or gender
(d) The science of drawing maps
Answer:
(d) The science of drawing maps

Question 9.
Choose the meaning of the idiom ‘Back to the drawing board’.
{a) The person you are talking about arrives
(b) Do something to save money
(c) Do or say something exactly right
(d) Failure leads to a time to start all over
Answer:
(d) Failure leads to a time to start all over

Question 10.
Choose the meaning of the foreign word in the sentence.
Mithwin really likes singing karaoke, even though he doesn’t have an amazing voice,
(a) songs with karate steps
(b) baila
(c) country songs
(d) sing along
Answer:
(d) sing along

Question 11.
Choose the word from the options given to form a compound word with “land”.
(a) owner
(b) lord
(c) rent
(d) estate
Answer:
(b) lord

Question 12.
Form a new word by adding a suitable prefix to the root word “charge”.
(a) sur
(b) pre
(c) un
(d) out
Answer:
(a) sur

Question 13.
Choose the expanded form of “DARE”.
(a) Documentation Automatic Retrieval Equipment
(b) Documents Arrangements Retrieval Equipment
(c) Documentation Automatic Retrieval Experience
(d) Drug Abuse Resistance Education
Answer:
(d) Drug Abuse Resistance Education

Question 14.
Choose the correct sentence pattern.
He shows kindness to his patients.
(a) SVOA
(b) SVOIO
(c) SVIODO
(d) SVCA
Answer:
(b) SVOIO

Question 15.
One who is concerned with usefulness is called as …………
(a) Psychiatrist
(b) Technologist
(c) Pragmatist
(d) Editorialist
Answer:
(c) Pragmatist

Question 16.
Fill in the blank with the suitable preposition.
Ram was a thin, tall and handsome bachelor ………. a Roman nose.
(a) far
(b) with
(c) of
(d) on
Answer:
(b) with

Question 17.
Add a suitable question tag to the following statement.
Nobody could do it, ……….. ?
(a) could they
(b) should they
(c) have they
(d) ain’t they
Answer:
(a) could they

Question 18.
Substitute the underlined word with the appropriate polite alternative.
The press release said the band split up because of problems among artists.
(a) problems
(b) creative indifference
(c) creative differences
(d) fights
Answer:
(c) creative differences

Question 19.
Substitute the phrasal verb in the sentence with a single word.
Dravid was so far away, we really couldn’t make out what he was trying to say.
(a) understand
(b) deliver
(c) hear
(d) record
Answer:
(a) understand

Question 20.
Fill in the blank with a suitable relative pronoun.
What is the name of the prison ……… Nelson Mandela stayed?
(a) which
(b) when
(c) where
(d) whose
Answer:
(c) where

PART – II

II. Answer any seven of the following: [7 × 2 = 14]
(i) Read the following sets of poetic lines and answer any four of the following. [4 × 2 = 8]

Question 21.
“To unlearn all these muting things
Most of all, I want to relearn”
(a) What does the poet want to relearn?
(b) Explain ‘muting things’.
Answer:
(a) The poet has forgotten to laugh naturally. He wants to relearn to laugh because his laugh in front of the mirror shows his teeth like a snake’s bare fangs.
(b) Muting things are; superficial and unnatural behaviours like portrait smiles and heartless handshake.

Question 22.
“The birds around me hopp’d and play’d
Their thoughts I cannot measure,
But the least motion which they made
It seem’d a thrill of pleasure”
(а) What is the rhyme scheme?
(b) Name the poem and poet.
Answer:
(a) The rhyme scheme is ‘abab’.
(b) The poem is ‘Lines Written in Early Spring’ written by William Wordsworth.

Question 23.
“A life that knows no kneeling and bending
We are proud and feel so tall”
(a) What kind of a life, does the poet talk about?
(b) Pick out the alliterated words.
Answer:
(a) The poet speaks about a life where there is no necessity to stoop before others for any ‘gain’. This makes people live with self-dignity which makes them feel proud.
(b) A life that knows no kneeling and bending.

Question 24.
“I live with bread like you, feel want,
Taste grief, need friends – subjected thus,
How can you say to me, I am a king?”
(а) Mention the figure of speech employed in the last line.
(b) What is surprising about the king’s words to his loyal friends?
Answer:
(а) Interrogation
(b) The king feels he is also an ordinary mortal deceived by the jester ‘death’. He also needs to taste grief and needs the support of friends during distress. This surprises his loyal friends.

Question 25.
“His coat is dusty from neglect, his whiskers are uncombed.”
(а) How does Macavity differ from domestic/tamed cat?
(b) Identify the figure of speech.
Answer:
(a) Macavity’s coat is dusty. His whiskers are uncombed.
(b) Personification.

Question 26.
“With all my heart I do admire Athletes who sweat for fun or hire,”
(a) Pick out the rhyming words.
(b) What does the second line mean?
Answer:
(a) Admire and hire are the rhyming words.
(b) The second line means there are two categories of athletes. The first play just for pleasure. The second category is players who are hired by corporate to play the big leagues or tournaments.

(ii) Do as Directed: (Answer any three) [3 × 2 = 6]

Question 27.
Rewrite into Direct speech:
Anitha : I want to order a big pineapple cake for my brother’s birthday.
Confectioner : When is it?
Answer:
Anne told a confectioner that she wanted to order a big birthday cake for her brother. The confectioner asked when his birthday was.

Question 28.
Change into passive/active voice of the following sentence.
The Baboon tasted the sour grapes.
Answer:
The sour grapes was tasted by the Baboon.

Question 29.
Put the milk in the fridge. It will go sour. (Combine using ‘if’)
Answer:
If you don’t put the milk in the fridge, it will go sour.

Question 30.
He was ill, but he came for practice. (Change into a simple sentence)
Answer:
In spite of his illness he came for practice.

PART – III

III. Answer any seven of the following: [7 × 3 = 21]
(i) Explain any two of the following with Reference to the Context: [2 × 3 = 6]

Question 31.
………. and feel
At home, once, twice
Answer:
Reference: This line is from the poem, “Once upon a time” written by Gabriel Okara.

Context: The poet says these words while describing people’s attitude if someone visits their house.

Explanation: The semblance of cordiality will disappear if one visits for the third time. When they say “feel at home”, it applies only once or twice. In fact, they would shut the door on his face. One should not believe those words and visit their houses frequently. Familiarity breeds contempt.

Question 32.
The birds around me hopp’d and play’d,
Their thoughts I cannot measure,
Answer:
Reference : These lines are from the poem “Lines Written in Early Spring” written by William Wordsworth.

Context: The poet says these words while enjoying the beauty and peace that prevailed in the woodland. The poet said these words while trying to fathom their thoughts.

Explanation : The poet was overwhelmed with delight in the company of birds, plant kingdom and the brook. The birds were oblivious to the presence of the poet. They hopped and chirped around him in absolute bliss. He tried hard to understand the thoughts of the birds through the bird’s language. But he couldn’t succeed. He simply inferred that they were thrilled and enjoying the jocund company.

Question 33.
(I might mention Mungojerrie, I might mention Griddlebone)
Are nothing more than agents for the Cat who all the time.
Just controls their operations: the Napoleon of Crime.
Answer:
Reference: These words are from the poem “Macavity – the mystery cat” written by T.S. Eliot.

Context: The poet compares the leadership skills of Macavity to his own fictional characters.

Explanation: Those functional characters Mungojerrie and Griddlebone portrayed in T.S. Eliot’s “Old Possom’s book of Practical Cats” are not to be compared with Macavity. He is a commander in chief of criminals or Napolean of criminals. He directs all thefts and crimes in London very cleverly.

(ii) Answer any two of the following briefly: [2 × 3 = 6]

Question 34.
Why did the grandma chant the morning prayer in a sing song voice?
Answer:
Grandma started the mornings with a sing-song prayer because she wanted the author to learn the prayers by heart.

Question 35.
What should the youngsters aim in life after their graduation?
Answer:
The youngsters should aim in life after graduation for an aristocracy of achievements arising out of a democracy of opportunities. As youngsters they should aim at toning up the society, bringing light into dark alleys, sunshine into dingy places, solace into the afflicted, hope into the despondent and a new life into every one.

Question 36.
When does human memory work with less than its usual capacity?
Answer:
Human memory works with less than its usual capacity in matters like taking medicine. The author explains that human memory represents the willingness to remember certain things. It forgets what it does not wish to remember. Humans are blessed with “selective amnesia”.

(iii) Answer any three of the following briefly: [3 × 3 = 9]

Question 37.
Re-arrange the shuffled words and frame into meaningful sentences, (change to pie chart/graph or table)

1. the/Indian/English/exploited/the farmers.
2. on/camel/has/hump/its/a/big/back.
3. elephant/land animal/present/largest/is/day/the/of/the.

Answer:

1. The English exploited the Indian farmers.
2. Camel has a big hump on its back.
3. Elephant is the largest land animal of the present day.

Question 38.
Build a dialogue of minimum three exchanges between a waiter and a customer.
Answer:
Kavya : Could I get something to eat immediately?
Waiter : Yes Ma’am. We have hot idlies.
Kavya : Do you have Podi Dosa?
Waiter : Yes ma’am, we do have Podi Dosa.
Kavya : Can you give two sets of Podi Dosa with a vada please?
Waiter : Yes ma’am, it will be served in ten minutes.

Question 39.
Describe the process of polishing your shoes.
Answer:

1. Shoes are cleaned of dust with a brush.
2. A layer of polish is coated over the shoes.
3. One should wait a little till the polish soaks the leather.
4. Then shoes are brushed to shine.

Question 40.
Complete the proverbs using the words given below.
(a) Every cloud has a ……… lining, (golden, silver, white)
(b) Fortune favors the ……….. (brave, courageous, poor)
(c) Get out while the going is ………… (good, high, best)
Answer:
(a) silver
(b) brave
(c) good

PART – IV

IV. Answer the following: [7 × 5 = 35]

Question 41.
How does the speaker highlight the importance of giving back to the society?
Answer:
The graduates have drawn largely from the social chest. The largest taken from the society needs to be replenished. If graduates fail to pay back, ordinary people’s coffer will be empty. The supervisor’s education enjoins greater responsibility to society. Apart from their own individual advancement, society has got a right to expect an adequate return from the graduates. The society does not expect them to payback in cash. But they must pay back in terms of service. They should tone up the society by bringing a light into the dark alleys. They should herald sunshine into dingy places. They must give solace to the affiliated people. They should also give hope unto the despondent and thus ensure a new life unto every one.

[OR]

What are the observations of Lynd on the capacity of humans to remember and forget things?
Answer:
Robert Lynd is amazed at the efficiency of human memory. Modem man remembers telephone numbers, names of film stars, cricketers, football champions and even notorious murderers. He remarks wittily that man does not forget a single item of his clothing. No one forgets to shut the door when leaving the house. The institution of family survives in modem cities because ordinary people have extraordinary memory power. In some matters, the memory is less than perfect, causes could be psychological. We tend to forget things we don’t wish to remember.

For example, many people forget to take medicines. Medicine needs to be taken before / after meals. Robert Lynd remarks that chemists make a lot of money because people tend to forget to take medicines. It aggravates the disease and people are forced to buy more and more medicines. Most people forget to post.letters. The author himself would not trust his letters to be posted by others. The author himself never remembered to post letters entrusted to him. He had to apologise for the unposted letters kept with him for long. Likewise, the author forgets his walking sticks often.

Question 42.
“Face is the index of the mind.” Does this adage concur with the views of the poet?
Answer:
Unlike the people of the past, people in modem times “laugh only with their teeth” while their ice-block cold eyes search for something. Now, people shake hands without hearts. There is no human warmth in social relations. While they shake hands, they look for evidences to judge the financial status of a person. People say ‘feel at home’ and ‘come again’. But if a person visits a third time he is not welcomed. They all have cocktail faces ready for all occasions. Their conforming smiles are like fixed portrait smiles. They wear standard, deceitful, artificial smile for all occasions. They have faces like masks.

The poet has learnt from them how to use faces like dresses, home face, office face, street face, host face etc. Their faces, like the teeth of the elephant, show only what is accepted. The ugly side of their personality is cleverly hidden behind their deceitful smiles and polite words. So, the poet’s views do not concur with the adage “Face is the index of the mind”.

[OR]

Write a short summary of the poem “The Hollow Crown”.
Answer:
Shakespeare portrays the fleeting nature of human glory. King Richard II, on the verge of surrender to his rebellious cousin Bolingbroke, talks about the nature of temporal power and death. He talks about graves, epitaphs and worms. He explains how even monarchs leave nothing behind as their own except a small patch of land in which they are buried. The dejected king talks on various ways kings get killed. Some are slain in the battle field, some poisoned to death by their own spouses.

The kings who believed their bodies to be impregnable brass are shattered by just a pinprick. In fact, death is in supreme command which waits for the king, and only allows the king to act as if he were ruling and in control of everything. He chides his loyal friends who still believe that he is a monarch and tells them that he is an ordinary mortal just like them. He is humbled as he is powerless before the impending death.

Question 43.
Write an essay of about 150 words by developing the following hints.
C.V. Burgess-master craftsman-reveals-few names-first patient Joe-wife Emily- surgical room-Emily apprehensive-two children-Dorothea-Dentist hospital becomes play area-snobbish woman-whole play resolves-dramatic irony of patients’ guess- the dentists’ room -opening the tool cabinet-The groaning noise-vexation of Emily-Joe add to the dramatic irony-nurse moves about-feigned seriousness-the fact of the misplacement of key-which adds comic.
Answer:
C.V. Burgess is a master craftsman who reveals only a few names. The first patient Joe and his wife Emily are the most dominant characters. Joe is inside the surgical room. Emily is anxious about the husband. Among the two children the dramatist uses only the girl’s name Dorothea and the Dentist hospital becomes a play area for Dorothea and the little boy who claim the same magazine for reading. The snobbish woman who goes on showing her photo album gives us an impression if she came to see the doctor or to show her photos.

The whole play revolves around the dramatic irony of patients’ guess as to what happened inside the dentists’ room and what really happened. The pliers, hack saw and the huge hammer were taken inside the dentist’s room only for opening the tool cabinet. But the patients wondered how these would be used in dental surgery. The groaning noise from inside the dentist’s rooms and the vexation of Emily Joe add to the fear of the patients waiting. A few women patients leave the waiting room scared of subjecting themselves to the torture of having their bad teeth extracted with carpentry tools. The nurse moves about with all feigned seriousness without disclosing the fact of the misplacement of key.

[OR]

Miss Meadows, a music teacher – gets a letter – feels upset – Fiance not interested – reflects her gloom on students – changes the happy song to a sad one – Headmistress calls – delivers a telegram – Fiance agrees to wedding – Meadows happy – changes the song again to a cheerful one.
Answer:
Miss Meadow was heart-broken. The letter written by Basil had pierced her heart and she was bleeding. Her hatred and anger became a knife and she carried it with her. Her icy cold response to Science Mistress demonstrates it. She is least bothered about the tender feelings of young children who look at her face all time for a friendly nod or smile of approval.

Her favourite pupil Mary Beazley is baffled at her treatment of the chrysanthemum she had brought with so much love. The choice of the song “A lament” perfectly jells well with her worst mood. She is in fact in her heart lamenting over the loss of love, trust and future hopes. She is unnecessarily severe with young children forcing them to redo the singing which drives them to despair, pain and tears they manage to stifle.

After she receives the telegram from Basil apologizing for his insane letter, her mood changes to joy. She takes the chrysanthemum and keeps it close to her lips to conceal her blush. She goads the children to sing a song of joy congratulating someone for success. She persuades them to show warmth in their voices. Her warm and lively voice dominates the tremulous voices of the young ones. The young ones now realize that Miss Meadow who was in a wax earlier is now in her elements.

Question 44.
Write a summary or make notes of the following passage.
Moral courage is of the mind, while physical courage is of the body; but mind and body are so closely connected that I think it is impossible to separate the one sort of courage from the other. In many instances of human daring, moral courage combined with physical to a resolute endurance of physical suffering becomes added to a consciousness of duty. But while physical courage in a human being implies at the least, the moral courage implies much more.

This moral courage is the courage which braces us always to do our duty. This is the noblest form of courage and yet it is the courage most commonly required. It is the courage which everyday, almost every hour demands of us all.
Answer:
Summary
No. of words given in the original passage: 123
No. of words to be written in the summary: 123/3 = 41 ± 5

Rough Draft
Moral courage is of the mind and physical courage of the body. Human daring involves both and duty consciousness. It is impossible to separate the one sort of courage from the other. Of the two, moral courage is the noblest form of courage which is demanded of us all the time.

Fair Draft
Moral Courage Vs Physical Courage
Moral courage is of the mind and physical courage of the body. Human daring involves both and duty consciousness. Of the two, moral courage is the noblest form of courage which is demanded of us all the time.

No. of words in the summary: 38

[OR]

Note-making
Title: Moral Courage Vs Physical Courage Courage
Answer:
Courage
Mind – Moral courage
Body – Physical coinage
Human daring involves
both moral and physical courage and consciousness of duty Moral courage
inspires us to do our duty – needed all the time.

Question 45.
You are Neena. The wedding of your elder sister Meena is going to be held on the 15th May, 2020 at Hotel Lake View, Ooty. Write an informal invitation to your friend Sherrin requesting her to attend the function.
Answer:

20th April, 2020

From
Neena
2, Gandhi street
Ooty

To
Sherrin
12, Hill view Road,
Raj Nagar,
Ooty.
Dear Sherrin,

You will be pleased to know that the wedding of my elder sister Meena is going to be held on the 15th May, 2020 at Hotel Lake View, Ooty. The whole family will move there in the morning. I invite you to join us at lunch in the hotel on the 15th. The wedding ceremony will take place at 8 in the evening.
I do hope you will join us on the auspicious occasion.

Yours sincerely,
Neena
Address on the Envelope
To
Sherrin
12, Hill view Road
Raj Nagar
Ooty

[OR]

Write an essay in about 150 words on ‘Self medication is an unhealthy practice’.
Answer:
Self-medication is defined as the selection and use of medicines by individuals to treat self- diagnosed symptoms. Self-medication is thought to reduce the load on the medical services, decrease the time spent in waiting to see the physician, and save cost especially among economically deprived people. Since it is instant, there is no expense of the doctor but when they ultimately suffer from severe health issues, their medical expense increases two-fold.

Self-medication as a habit can damage one’s health irrevocably, causing disabilities and even premature death. Self-medication is okay to many of us. It’s just a crocin or some ‘safe’ antibiotic we believe we are taking as going to the doctor can be time consuming and expensive. But there are side-effects to this and very harmful ones at that. The idea of self¬medication even for small health issues can lead to complications. People tend to pop pills as they are popping candies. Medicines such as pain relief drugs, cough syrups, laxatives, antibiotics, anti-allergy medicines, vitamins and even antacids. Since these are drugs that can be bought over the counter meds, these are easier to acquire.

Popping pills may get us instant relief but what we don’t realize is that it is. not free of side-effects. This is because one drug may react differently when consumed with another drug. This can even lead to death. Hence, consulting a doctor is a must and self-medication is an unhealthy practice.

Question 46.
Read the following sentences, spot the errors and rewrite the sentences correctly.
(а) Children are fond to coconuts.
(b) After all a sculptor’s labours had came to an end.
(c) As he looking on, he was overwhelmed by the image.
(d) All the furnitures in her house is sold.
(e) Each of the student has participated in the competition.
Answer:
(a) Children are fond of coconuts.
(b) After all a sculptor’s labours had come to an end.
(c) As he looked on, he was overwhelmed by the image.
(d) All the furniture in her house is sold.
(e) Each of the students has participated in the competition.

[OR]

Fill in the blanks appropriately.
(a) When teaching my daughter how to drive, I told her if she didn’t hit the ………. in time she would ……….. the car’s side mirror, (break/ brake)
(b) ………. you like a cup of tea? (Fill in with a modal verb)
(c) We ……….. go grocery shopping, (use semi-modal)
(d) Take my umbrella ………… rain. (Use a suitable link word)
Answer:
(a) brake, break
(b) Would
(c) need to
(d) in case of

Question 47.
Identify each of the following sentences with the fields given below.
(a) General Elections take place after every five years in India.
(b) The Reserve Bank revised the interest rate.
(c) One thousand interest connections were given in Pollachi.
(d) The new serial will begin on Monday.
(e) Athletics rarely gets coverage in the Media.
(Commerce, Politics, Sports, Maths, Computer)
Answer:
(a) Politics
(b) Commerce
(c) Computer
(d) Media
(e) Sports

[OR]

Read the following passage carefully and answer the questions that follow.
It is not the pride or incivility on either side that keeps us remote from each other. It is simply our London way. People are so plentiful that they lose their identity…. In London men are as lonely as Oysters, each living in his own shell. We go out in the country to find neighbours. If the man next door took a cottage a mile away from me in the country. I should probably know all about him, his affairs, his family, his calling and his habits inside a week. This is not always so idyllic as it seems. Village life can be poisoned by neighbours until the victim pines for the solitude of a London street, where neighbours are so plentiful that you are no more conscious of their individual existence than if they were black berries on a hedge row.
Questions.

1. What keeps people in London remote from each other?
2. How are men described? Why?
3. Why do we seek country life?
4. What is the disadvantage of village life?
5. What can you say in this context about our interaction with our neighbours the life style in our country?

Answer:

1. People are so plentiful that they lose their identity.
2. Men are described as oyster shells. The being inside the oyster shell never wishes to know who lives outside.
3. We seek country life to find neighbours.
4. Village life is not idyllic. Neighbours tend to poison village life.
5. India has not deteriorated to the level of London city. We still care for the neighbours as neighbours care for us.

Students can Download Tamil Nadu 11th Commerce Model Question Paper 2 English Medium Pdf, Tamil Nadu 11th Commerce Model Question Papers helps you to revise the complete Tamilnadu State Board New Syllabus, helps students complete homework assignments and to score high marks in board exams.

TN State Board 11th Commerce Model Question Paper 2 English Medium

General Instructions:

1. The question paper comprises of four parts.
2. You are to attempt all the parts. An internal choice of questions is provided wherever applicable.
3. All questions of Part I, II, III and IV are to be attempted separately.
4. Question numbers 1 to 20 in Part I are Multiple Choice Questions of one mark each.
   These are to be answered by choosing the most suitable answer from the given four alternatives and writing the option code and the corresponding answer
5. Question numbers 21 to 30 in Part II are two-mark questions. These are to be answered in about one or two sentences.
6. Question numbers 31 to 40 in Part III are three-mark questions. These are to be answered in above three to five short sentences.
7. Question numbers 41 to 47 in Part IV are five-mark questions. These are to be answered in detail Draw diagrams wherever necessary.

Time: 2:30 Hours
Maximum Marks: 90

PART – 1

Choose the correct answer. Answer all the questions. [20 × 1 = 20]

Question 1.
Wholesalers buy in ………………………… quantity of goods.
(a) Small
(b) Large
(c) Medium
(d) Limited
Answer:
(b) Large

Question 2.
Small scale fixed retailers include ……………………..
(a) General stores
(b) Pedlars
(c) Cheap jacks
(d) Hawkers
Answer:
(a) General stores

Question 3.
In India, GST became effective from ………………………
(a) 1^st April 2017
(b) 1^st January 2017
(c) 1^st July 2017
(d) 1^st March 2017
Answer:
(a) 1^st April 2017

Question 4.
‘One share – one vote’ principle is followed in kind of organization.
(a) Co – operatives
(b) Partnership
(c) Company
(d) None of these
Answer:
(c) Company

Question 5.
……………………. is not a type of general insurance.
(a) Marine insurance
(b) Life insurance
(c) Fidelity insurance
(d) Fire insurance
Answer:
(b) Life insurance

Question 6.
Self – help groups convert the sayings into a common find known as ……………………..
(a) Common fund
(b) Group corpus fund
(c) Group fund
(d) None of the above
Answer:
(b) Group corpus fund

Question 7.
A major disadvantage of sole proprietorship is ……………………….
(a) Limited liability
(b) Unlimited liability
(c) Easy formation
(d) Quick decision
Answer:
(b) Unlimited liability

Question 8.
Which one of the following is not correctly matched?
(a) Mercantile agents – Functional middleman
(b) Merchant middleman – Wholesalers
(c) Retailer – Small quantities
(d) Wholesaler – Last middleman in the distribution
Answer:
(d) Wholesaler – Last middleman in the distribution

Question 9.
From which of the following deposit holders can get overdraft facilities?
(a) Savings deposits
(b) Current deposits
(c) Recurring deposits
(d) Fixed deposits
Answer:
(b) Current deposits

Question 10.
The role of government in logistics management is through ……………………….
(a) Legislations
(b) Governance
(c) Transport
(d) Distribution
Answer:
(d) Distribution

Question 11.
The local area banks are promoting ………………………
(a) Rural savings
(b) Business savings
(c) Industrial development
(d) Agricultural development
Answer:
(a) Rural savings

Question 12.
Way bill is a document issued by ………………………
(a) Railway transport
(b) Air transport
(c) Road transport
(d) Water transport
Answer:
(c) Road transport

Question 13.
The types of development banks are ……………………….
(I) IFCI
(II) State Bank of India
(III) MUDRA Bank
(IV) Karur Vysya Bank
(a) (I) and (II)
(b) (II) and (IV)
(c) (I) and (III)
(d) (II) and (IV)
Answer:
(c) (I) and (III)

Question 14.
Auxiliaries to trade is also called as ……………………..
(a) Trade
(b) Advertisement
(c) Warehousing
(d) Aids to trade
Answer:
(d) Aids to trade

Question 15.
Consumers co-operation was first successful in …………………………
(a) England
(b) USA
(c) Swiss
(d) India
Answer:
(a) England

Question 16.
Match List – I with List – II and select the correct answer using the codes given below:

List – 1	List – 2
(i) Overdraft	1. Debit card
(ii) ATM card	2. Short term credit instrument
(iii) Time deposit	3. Current deposits
(iv) Discounting of bills	4. Fixed deposits

Answer:
Codes:

Question 17.
Who is the first middleman in the channel of distribution?
(a) Wholesaler
(b) Producer
(c) Retailer
(d) Customer
Answer:
(a) Wholesaler

Question 18.
Find out which is not advantage of partnership from the following:
(a) Easy formation
(b) Division of work
(c) Limited liability
(d) Easy dissolution
Answer:
(c) Limited liability

Question 19.
Presently IRDAI headquarters is in ……………………….
(a) Hyderabad
(b) Chennai
(c) Mumbai
(d) Delhi
Answer:
(a) Hyderabad

Question 20.
The aggregate income under fine heads is termed as ……………………….
(a) Gross total income
(b) Total income
(c) Salary income
(d) None of the above
Answer:
(b) Total income

PART – II

Answer any seven questions in which question No. 30 is compulsory: [7 × 2 = 14]

Question 21.
Who are middlemen?
Answer:
The term ‘middlemen’ refers to all those who are in the link between the primary producer and the ultimate consumer in the exchange of goods or service.

Question 22.
Mention any four examples of MNC?
Answer:
A multinational company is one which is incorporated in one country, but it may be operated in many countries. Examples: Coca – Cola, International Business Machine (IBM), Sony Corporation and Microsoft Corporation.

Question 23.
There are various hindrances in business. The manufacturers and consumers do not know each other. But the goods are purchased and sold by these two persons. What kind of hindrance is this? How is it removed?
Answer:
This is ‘hindrance of a person’. Manufacturers do not know the consumer, who is using the products, produced by him. This difficulty or hindrance is removed by the traders.

Question 24.
Give any three functions of warehouses?
Answer:

1. Storage
2. Price stabilization
3. Equalization of demand and supply

Question 25.
What is meant by private company?
Answer:
Private limited company is a type of company which is formed with minimum two shareholders and two directors, the minimum requirement with respect to authorised or paid up capital of Rs. 1,00,000 has been omitted by the Companies (Amendment) Act, 2015 w.e.f. 29^th of May, 2015.

Another crucial condition of a private limited company is that it by its articles of association restricts the right to transfer its shares and also prohibits any invitation to the public to subscribe for any securities of the company.

Question 26.
Is low taxes possible in co – operative society?
Answer:
Yes, Low taxes are possible in co – operative society because it is a non-profit enterprise, and government provides various exemptions and tax concessions.

Question 27.
Write any two advantages of water transport?
Answer:

1. It is considered as the cheapest mode of transport among the other modes of transport.
2. It is most suitable for heavy loads.

Question 28.
What are the non-corporate enterprises?
Answer:

1. Sole trading concern
2. Partnership firm
3. Joint Hindu family business

Question 29.
Mention any three differences between warehouse warrant and warehouse receipt?
Answer:

Warehouse Warrant	Warehouse Receipt
1. It is a document of title of goods.	1. It is not a document of title of goods.
2. It is not only an acknowledgement for the receipt of goods but also gives an authority to get delivery of goods.	2. It is only an acknowledgement  the receipt of goods.
3. It can be given as a collateral security for getting loan.	3. Ita cannot be given as collateral security

Question 30.
Mention any four kinds of partners?
Answer:

1. Active partner
2. Sleeping partner
3. Nominal partner
4. Partner in profits only

PART – III

Answer any seven questions in which question No. 40 is compulsory: [7 × 3 = 21]

Question 31.
List the five heads of income?
Answer:
The five heads of income are:

1. Income from‘Salaries’ [Sections 15 – 17];
2. Income from ‘House Property’ [Sections 22 – 27];
3. Income from ‘Profits and Gains of Business or Profession’ [Sections 28 – 44];
4. Income from ‘Capital Gains’ [Sections 45 – 55]; and
5. Income from ‘Other Sources’ [Sections 56 – 59].

Question 32.
Explain the concept of business?
Answer:
Business refers to any human activity undertaken on a regular basis with the object to earn profit through production, distribution, sale or purchase of goods and services.

Business activities are connected with raising, producing or processing of goods. Industry creates form utility to goods by bringing materials into the form which is useful for intermediate consumption or final consumption by consumers.

Question 33.
Explain any three features of Self – Help Group?
Answer:

1. The motto of every group members should be “saving first – credit latter”.
2. Self Help Group is homogeneous in terms of economic status.
3. The ideal size of a Self Help Group ranges between 10 and 20 members.

Question 34.
Explain the features of general stores?
Answer:
General Stores sell a wide variety of products under one roof, most commonly found in a local market and residential areas to satisfy the day – to – day needs of the customers residing in nearby localities. They remain open for long hours at convenient timings and often provide credit facilities to their regular customers.

Question 35.
How is it possible to maintain secrecy in sole proprietorship?
Answer:
In sole proprietorship, the trader is the sole owner of the business. Since he/she manages all the affairs of the business, the secrecy can be maintained easily.

Question 36.
What is the importance of bonded warehouses?
Answer:
Bonded warehouses are those warehouses which are licensed by government. It is used to accept the storage of imported goods which are cleared for non – payment of customs duty by the importer. Strict supervision and control is imposed by customs authorities on their functioning.

Question 37.
Describe any three advantages of international trade?
Answer:
Advantages of international trade:

1. Optimum use of natural resources: International trade operates on a simple principle that a country can produce more efficiently and trade the surplus production.
2. Economic development: International trade helps the developing countries in achieving rapid economic development by importing machinery, technology and talent.
3. Generation of employment: International business generates employment opportunities by assisting the expansion and growth of agricultural and industrial activities.

Question 38.
What are the advantages of MNC?
Answer:
1. Low Cost Labour:
MNC set up their facilities in low cost countries and produce goods/services at lower cost.

2. Quality Products:
The resource, experience and expertise of MNCs in the sphere of research and development enables the host country to establish its research and development system which helps it in producing quality goods and services at least possible cost.

Question 39.
India is an agricultural country. It has so many villages. Agriculture is inevitable to our country. What kind of insurance is needed to safeguard agriculture?
Answer:
Crop insurance is taken for safeguarding the agriculture. This policy is to provide financial support to farmers in case of a crop failure due to drought or flood. It generally covers all risks of loss or damages relating to production of rice, wheat, millets, oil seeds and pulses.

Question 40.
Why is balance of payment prepared?
Answer:
Balance of payments help in framing monetary, fiscal and trade policies of country. Government keenly observes balance of payment position of its important trade partners in making policy decisions. It reveals whether a country produces enough economic output to pay for its growth.

PART – IV

Answer all the questions: [7 × 5 = 35]

Question 41 (a).
Memorandum of Association is a legal document prepared to form and register a joint stock company. It reveals the powers and activities, the company is permitted to undertake. What are the contents of memorandum of Association? Explain?
Answer:
1. Name Clause:
The name clause requires you to state the legal and recognized name of the company. You are allowed to register a company name only if it does not bear any similarities with the name of an existing company.

2. Situation Clause:
The registered office clause requires you to show the physical location of the registered office of the company. You are required to keep all the company registers in this office in addition to using the office in handling all the outgoing and incoming communication correspondence.

3. Objective Clause:
The objective clause requires you to summarize the main objectives for establishing the company with reference to the requirements for shareholding and use of financial resources.

You also need to state ancillary objectives; that is, those objectives that are required to facilitate the achievement of the main objectives.

4. Liability Clause:
The liability clause requires you to state the extent to which shareholders of the company are liable to the debt obligations of the company in the event of the company dissolving.

You should show that shareholders are liable only their shareholding and/or to their commitment to contribute to the dissolution costs upon liquidation of a company limited by guarantee.

5. Capital Clause:
The capital clause requires you to state the company’s authorized share capital, the ’ different categories of shares and the nominal value (the minimum value per share) of the shares. You are also required to list the company’s assets under this clause.

6. Association Clause:
The association clause confirms that shareholders bound by the MOA are willingly associating and forming a company. You require seven members to sign an MOA for a public company and not less than two people for a MOA of a private company. You must conduct the signing in the presence of witness who must also append his signature.

[OR]

(b) Explain any five rights of partners?
Answer:

1. Right to take part in business: Every partner has a right to take part in the management of the business.
2. Right to be consultant: Every partner has the right to be consulted in all the matters concerning the firm. The decision of the majority will prevail in all the routine matters.
3. Right of access to books, record and document: Every partner has the right of access to all records and books of accounts, and to examine and copy them.
4. Right to share profit: Every partner is entitled to share the profits in the agreed ratio. If no profit-sharing ratio is specified in the deed, they must be shared equally.
5. Right to receive interest: A partner’ has the right to receive interest on loans advanced by him to the firm at the agreed rate, and where no rate is stipulated, interest @ 6% p.a. allowed.

Question 42 (a).
Explain the contents of prospectus?
Answer:
Prospectus means a document inviting the public to buy its shares or debentures. It also applies to advertisements inviting deposits from the public.

Contents:

1. The prospectus contains the main objectives of the company.
2. The name and address of the signatories of the Memorandum of Association.
3. The name, address and occupation of directors and managing directors.
4. The number and classes of shares and debentures.
5. The qualification share of directors.
6. The name and address of the vendors of any property acquired by the company.
7. Particulars about the directors, secretaries and the treasures and their remuneration.
8. The amount for the minimum subscription.
9. The estimated amount of preliminary expenses.
10. Name and address of the auditors, bankers and solicitors of the company,
11. Time and place where copies of balance sheets, profits and loss account and the auditor’s report may be inspected.

[OR]

(b) Write a note on Consumer Co – operative Society?
Answer:
A Consumer Co – operative Society is organized by consumers. It sells quality goods at better prices to the consumers.

Features:

1. It can sell the goods at a lesser price rather than the traditional retail stores.
2. They also supply essential goods through Public Distribution System (PDS).
3. Nationally, the most widely used co – operative form is the credit union.
4. Credit unions are essentially co – operatives of people that use banking services.
5. It purchases goods directly from the manufacturers, which helps to fix the lower price. – Example – Students Co – operative Stores, Supermarkets, etc.

Question 43 (a).
Goods were exchanged for goods prior to invention of money. Each party must have surplus goods for exchange. What does it mean? What are the constraints of that system?
Answer:
The system in which the goods were exchanged for goods was called ‘barter system’. The barter system has many constraints. They are:

1. Lack of double coincidence of Wants: Unless two persons who have surplus have the demand for the goods possessed by each other, barter could not materialize. If this “coincidence of wants” does not exist, Barter cannot take place.
2. Non – existence of common measure of value: Barter system could not determine the value of commodities to be exchanged as they lacked commonly acceptable measures to evaluate each and every commodity.
3. Lack of direct contact between producer and consumers: It was not possible for buyers and sellers to meet face to face in many contexts for exchanging the commodities for commodities.
4. Lack of surplus stock: Absence of surplus stock was one of the impediments in barter system. If the buyers and sellers do not have surplus then no barter was possible.

[OR]

(b) Describe any five objectives of business?
Answer:
1. Economic Objectives:
Economic objectives of business refer to the objective of earning profit and also other objectives that are necessary to be pursued to achieve the profit objective, which includes creation of customers, regular innovations and best possible use of available resources.

2. Social Objectives:
Social objective are those objectives of business, which are desired to be achieved for the benefit of the society. Since business operates in a society by utilizing its scarce resources, the society expects something in return for its welfare.

3. Organizational Objectives:
The organizational objectives denote those objectives an organization intends to accomplish during the course of its existence in the economy like expansion and modernization, supply of quality goods to consumers, customers’ satisfaction, etc.

4. Human Objectives:
Human objectives refer to the objectives aimed at the well – being as well as fulfillment of expectations of employees as also of people who are disabled, handicapped and deprived of proper education and training.

The human objectives of business may thus include economic well – being of the employees, social and psychological satisfaction of employees and development of human resources.

5. National Objectives:
Being an important part of the country, every business must have the objective of fulfilling national goals and aspirations.

Question 44 (a).
Banks can be classified as follows:

1. Based on the functions of banks
2. Based on the status given by RBI
3. Based on the ownership pattern

What are the banks based on functions or organization? Explain any five kinds of banks.
Answer:
1. Commercial banks:
Banks which accept deposits from the public and grant loans to traders, individuals, agriculture, industries, transport, etc. in order to earn profit. Their lending is in comparatively small amounts and mostly for short and medium period. e.g., State Bank of India.

2. Development Banks:
Huge finance required for investment, expansion and modernisation of big industries and others are granted by a separate type of banks called development Banks. They are also called industrial banks, e.g., IFCI, SIDBI.

3. Co – operative Banks:
All Co – operative banks in India are owned by its customers or members who are farmers, small traders and others. Co – operative banks in India are either urban based or rural based. e.g.,NAFED, Tamil Nadu State Apex Co-operative Bank – Head Office, Chennai.

4. Foreign Banks:
Banks which have registered office in a foreign country and branches in Ipdia are called foreign banks, e.g., Bank of America – USA.

5. Regional Rural Banks (RRBs):
The RRBs were formed under the Regional Rural Bank Act 1976, jointly by the Central Government, State Government, and a sponsor bank. e.g., Pandian Grama Bank.

[OR]

(b) In India Joint Hindu Family Business is a distinct form of organisation. A person can become member by his birth. What are the features of Joint Hindu Family Business? Explain any five features?
Answer:
Features of Joint Hindu Family Business are:

1. Governed by Hindu Law
2. Management
3. Membership by birth
4. Liability
5. Permanent existence
6. Implied authority of Karta
7. Minor as a co – parcener
8. Dissolution

Explanation:

1. Governed by Hindu law: The business of the Joint Hindu Family is controlled and managed by the hindu law.
2. Membership by birth: The membership of the family can be acquired only by birth. As soon as a male child is bom in the family, the child becomes a member.
3. Liability: Except the Kartha, the liability of all other members is limited to their shares in the business.
4. Minor also as a co-parcener: In a Joint Hindu Family firm even a new bom baby can be a co-parcener.
5. Dissolution: It can be dissolved only at the will of the members of the family.

Question 45 (a).
Explain any five types of Cooperative societies?
Answer:
Types of Co – operative societies:

1. Consumers Co – operative:
Consumer Co – operatives are organized by consumers that want to achieve better prices or quality in the goods or services they purchase. In contrast to traditional retail stores or service providers, a consumer co – operative exists to deliver goods or services rather than to maximize profit from selling those goods or services.

2. Producers Co – operative:
Producer co – operatives are created by producers and owned and operated by producers. Producers can decide to work together or as separate entities to help increase marketing possibilities and production efficiency.

3. Marketing Co – operative:
Co – operative marketing societies are associations of small producers formed for the purpose of marketing their produce. The marketing co-operatives perform certain marketing functions such as grading, warehousing, advertising etc.

4. Credit Co – operative:
Cooperative credit societies are societies formed for providing short-term financial help to their members. Agriculturists, artisans, industrial workers, salaried employees, etc., form these credit societies.

5. Housing Co – operative:
These co – operative housing societies are meant to provide residential accommodation to their members on ownership basis or on rent.

People who intend to build houses of their own join together and form housing societies. These societies advance loans to members, repayable over a period of 15 to 20 years.

[OR]

(b) Partnership is formed by an agreement. It may be oral or written. The agreement is called partnership deed. Explain the contents of partnership deed.
Answer:
The contents of partnership deed include:

1. Name: Name of the Firm.
2. Nature of Business: Nature of the proposed business to be carried on by the partners.
3. Duration of Partnership: Duration of the partnership business whether it is to be run for a fixed period of time or whether it is to be dissolved after completing a particular venture.
4. Capital Contribution: The capital is to be contributed by the partners. It must be remembered that capital contribution is not necessary to become a partner for, one can contribute his organising power, business acumen, managerial skill, etc., instead of capital.
5. Withdrawal from the Firm: The amount that can be withdrawn from the firm by each partner.
6. Profit/Loss Sharing: The ratio in which the profits or losses are to be shared. If the profit sharing ratio is not specified in the deed, all the partners must share the profits and bear the losses equally.
7. Interest on Capital: Whether any interest is to be allowed on capital and if so, the rate of interest.
8. Rate of Interest on Drawing: Rate of interest on drawings, if any.
9. Loan from Partners: Whether loans can be accepted from the partners and if so the rate of interest payable thereon.
10. Account Keeping: Maintenance of accounts and audit.
11. Salary and Commission to Partners: Amount of salary or commission payable to partners for their services. (Unless this is specifically provided, no partner is entitled to any salary).
12. Retirement: Matters relating to retirement of a partner. The arrangement to be made for paying out the amount due to a retired or deceased partner must also be stated.
13. Goodwill Valuation: Method of valuing goodwill on the admission, death or retirement of a partner.
14. Distribution of Responsibility: Distribution of managerial responsibilities. The work that is entrusted to each partner is better stated in the deed itself.
15. Dissolution Procedure: Procedure for dissolution of the firm and the mode of settlement of accounts thereafter.
16. Arbitration of Dispute: Arbitration in case of disputes among partners. The deed should provide the method for settling disputes or difference of opinion. This clause will avoid costly litigations.

Question 46 (a).
Explain the various primary functions of commercial banks?
Answer:
The primary functions of a commercial bank are of three types. They are:

(I) Accepting Deposits – The basic deposit accounts offered by commercial banks are listed below:

1. Demand Deposits: These deposits are repayable on demand on any day. These consist of –

• Savings Deposits: General public deposit their savings into this account. This account can be opened in one individual’s name or more than one name.
• Current Deposits: This account is suitable for business institutions. Individuals too . can open this account. A higher minimum balance should be kept in this account.

2. Time Deposits: These are repayable after a period. These include –

• Fixed Deposits (FD): Certain amount is deposited for a fixed period for a fixed rate of interest.
• Recurring Deposits (RD): Certain sum is deposited into the account every month for one year or five years or the agreed period. Interest rate is more than savings deposits and almost equal to fixed deposits.

(II) Granting Loans and Advances: Commercial banks lend money in order to earn interest.

1. Advances

• Overdraft: It is a credit facility extended mostly to current account holding business community customers.
• Cash Credit: It is a secured credit facility given mostly to business institutions. Stock in hand, raw materials, other tangible assets, etc., are provided as collateral.
• Discounting of Bills: Business customers approach banks to discount the commercial bills of exchanges and provide money.

2. Loans – Short term and medium term loans are provided by commercial banks against eligible collaterals to business concerns. Examples – housing loan, consumer loan, vehicle loan, educational loan, jewel loan, etc.

3. Creation of Credit – Apart from the currency money issued by the RBI, the credit money in circulation created by commercial banks influence economic activities of a country to a large extent. Credit money of commercial banks is far greater in volume than the currency money.

[OR]

(b) What are the advantages of warehousing?
Answer:

1. It safeguards the stock for the merchants who do not have storage place.
2. Warehouses reduce the distribution cost of the traders by storing the goods in bulk and allow the trader to take the goods in small lots to his shop.
3. It helps in selection of channel of distribution. The producer will prefer whether to appoint a wholesaler or retailer.
4. It assists in maintaining the continuous sale and avoid the possibilities of “Out of Stock”.
5. It creates employment opportunities for both skilled and unskilled workers to improve their standard of living.

Question 47 (a).
Explain the features of a government company?
Answer:
The features of a government company are:
1. Registration Under the Companies Act:
A Government company is formed through registration under the Companies Act, 1956; and is subject to the provisions of this Act, like any other company.

However, the Central Government may direct that any of the provisions of the Companies Act shall not apply to a Government company or shall apply with certain modifications.

2. Executive Decision of Government:
A Government, company is created by an executive decision of the Government, without seeking the approval of the Parliament or the State Legislature.

3. Separate Legal Entity:
A Government company is a legal entity separate from the Government. It can acquire property; can make contracts and can file suits, in its own name.

4. Whole or Majority Capital Provided by Government:
The whole or majority (at least 51%) of the capital of a Government company is provided by the Government; but the revenues of the company are not deposited into the treasury.

5. Majority of Government Directors:
Being in possession of a majority of share capital, the Government has authority to appoint majority of directors, on the Board of Directors of a government company.

[OR]

(b) What are the advantages of co – operatives? Explain any five?
Answer:
Advantages of co – operatives:
1. Voluntary organisation:
The membership of a co – operative society is open to all. Any person with common interest can become a member. The membership fee is kept low so that everyone would be able to join and benefit from co – operative societies.

2. Easy formation:
Co – operatives can be formed much easily when compared to a company. Any 10 members who have attained majority can join together for forming a co – operative spciety by observing simple legal formalities.

3. Democracy:
A co – operative society is run on the principle of ‘one man one vote’. It implies that all members have equal rights in managing the affairs of the enterprises.

4. Equal distribution of surplus:
The surplus generated by the co – operative societies is distributed in an equitable manner among members. Therefore all the members of the co – operative society are benefitted.

5. Limited liability:
The liability of the members in a co – operative spciety is limited to the extent of their capital contribution. They cannot be personally held liable for the debts of the society.

Students can Download Tamil Nadu 11th Commerce Model Question Paper 1 English Medium Pdf, Tamil Nadu 11th Commerce Model Question Papers helps you to revise the complete Tamilnadu State Board New Syllabus, helps students complete homework assignments and to score high marks in board exams.

TN State Board 11th Commerce Model Question Paper 1 English Medium

General Instructions:

1. The question paper comprises of four parts.
2. You are to attempt all the parts. An internal choice of questions is provided wherever applicable.
3. All questions of Part I, II, III and IV are to be attempted separately.
4. Question numbers 1 to 20 in Part I are Multiple Choice Questions of one mark each.
   These are to be answered by choosing the most suitable answer from the given four alternatives and writing the option code and the corresponding answer
5. Question numbers 21 to 30 in Part II are two-mark questions. These are to be answered in about one or two sentences.
6. Question numbers 31 to 40 in Part III are three-mark questions. These are to be answered in above three to five short sentences.
7. Question numbers 41 to 47 in Part IV are five-mark questions. These are to be answered in detail Draw diagrams wherever necessary.

Time: 2:30 Hours
Maximum Marks: 90

PART – I

Choose the correct answer. Answer all the questions. [20 × 1 = 20]

Question 1.
………………….. is considered as an artificial person.
(a) Sole trader
(b) Joint Hindu family business
(c) Joint Stock company
(d) Co – operative societies
Answer:
(c) Joint Stock company

Question 2.
A contract with or by a minor is a ……………………
(a) Valid contract
(b) Void contract
(c) Voidable contract
(d) Voidable at the option of either party
Answer:
(b) Void contract

Question 3.
The largest commercial bank of India is ……………………….
(a) ICICI
(b) SBI
(c) PNB
(d) RBI
Answer:
(b) SBI

Question 4.
Which one of the following is correctly matched?
(a) Overdraft – More than one person
(b) RBI – Lender of last resort
(c) Partnership – Motor transport
(d) Life Insurance – Current Account
Answer:
(b) RBI – Lender of last resort

Question 5.
Hindrance of risk is removed by ……………………..
(a) Transport
(b) Warehouse
(c) Insurance
(d) None of these
Answer:
(c) Insurance

Question 6.
A mador disadvantage of a sole proprietorship is ……………………..
(a) Limited liability
(b) Unlimited liability
(c) Easy formation
(d) Quick decision
Answer:
(b) Unlimited liability

Question 7.
Match the List – I with List – II and select the correct answer using the codes given below:

List – I	List – II
(i) PWD	1. Public corporation
(ii) ONGC	2. Joint enterprise
(iii) Ramesh Brothers	3. Departmental undertaking
(iv) Maruthi Suzuki	4. Partnership firm

Answer:
Codes:

Question 8.
Trade and Commerce was common to ……………………. dynasty.
(a) Pallava
(b) Chola
(c) Pandiya
(d) Chera
Answer:
(c) Pandiya

Question 9.
The external source of funds are ……………………
(I) Shares and debentures
(II) Retained earnings
(III) Collection from receivables
(IV) Borrowings from banks
(a) (I) and (II)
(b) (II) and (III)
(c) (I) and (IV)
(d) (I) and (III)
Answer:
(c) (I) and (IV)

Question 10.
What kind of tax is the GST?
(a) Direct tax
(b) Indirect tax
(c) On the type of goods and services
(d) None of these
Answer:
(b) Indirect tax

Question 11.
In 1969, there were …………………….. private banks which were nationalised.
(a) 19
(b) 14
(c) 20
(d) 15
Answer:
(b) 14

Question 12.
Wholesalers deal in quantity of goods.
(a) Small
(b) Large
(c) Medium
(d) Limited
Answer:
(b) Large

Question 13.
The persons who enter into partnership are collectively called as …………………..
(a) Partners
(b) Shareholders
(c) Owners
(d) Firm
Answer:
(d) Firm

Question 14.
Producers co – operatives are established and operated by …………………….
(a) Producers
(b) Consumers
(c) Traders
(d) Wholesalers
Answer:
(a) Producers

Question 15.
ONGC is a public enterprise. Identify the form of organisation.
(a) Public corporations
(b) Departmental undertaking
(c) Multinational corporations
(d) Government company
Answer:
(a) Public corporations

Question 16.
…………………….. is a document acknowledging the receipt of goods by a carrier.
(a) Waybill
(b) Consignment note
(c) Charter party
(d) Bill of lading
Answer:
(a) Waybill

Question 17.
Which company has minimum paid up capital of Rs 5,00,000?
(a) Government company
(b) Public company
(c) Private company
(d) Foreign company
Answer:
(c) Private company

Question 18.
From the following which is not a direct tax?
(a) Income tax
(b) Wealth tax
(c) GST
(d) Capital gains tax
Answer:
(c) GST

Question 19.
Business units can reduce expenditure by outsourcing front office work like ………………………
(a) Paperwork
(b) File work
(c) Billing
(d) Manufacturing
Answer:
(b) File work

Question 20.
The year in which income earned is known as …………………………
(a) Assessment year
(b) Previous year
(c) Light year
(d) Calendar year
Answer:
(b) Previous year

PART – II

Answer any seven questions in which question No. 30 is compulsory: [7 × 2 = 14]

Question 21.
Define commerce?
Answer:
According to Evelyn Thomas, “Commercial operations deal with the buying and selling of goods, the exchange of commodities and the contribution of finished products”.

Question 22.
What is unlimited liability?
Answer:
Unlimited liability is a feature of sole trading business. When the sole trader’s business assets are not sufficient to pay off the business debts, he has to pay from his personal property.

Question 23.
Franchising is the practice of the right to use a firm’s business model and brand for a prescribed period of time. Who are the parties involved in franchising?
Answer:
There are two parties to a franchising agreement. They are:

1. Franchisor – The owner of a business who provides the franchise.
2. Franchisee – The individual who gets the right to operate the business or use the trademark.

Question 24.
Give any three functions of warehouses?
Answer:

1. Storage
2. Price stabilization
3. Equalization of demand and supply

Question 25.
A company is a large scale organization. Compared to sole trader and partnership organization, more profit can be received from the company. Mention any two advantages of a company?
Answer:
1. Large Capital:
A company can secure large capital compared to a sole trader or partnership. Large amount of capital is necessary for conducting business on a large scale.

2. Limited Liability:
The liability of a shareholder is limited. The risk of loss is limited to the unpaid amount on the face value of shares held. In the case of a company limited by shares, the liability of a shareholder is restricted to the unpaid amount on the shares held by him.

Question 26.
Give any two advantages of MNC?
Answer:
1. Low Cost Labour:
MNC set up their facilities in low cost countries and produce goods/services at lower cost.

2. Quality Products:
The resource, experience and expertise of MNCs in the sphere of research and development enables the host country to establish its research and development . system which helps it in producing quality goods and services at least possible cost.

Question 27.
List out any four types of indirect taxes levied in India?
Answer:

1. CGST
2. SGST
3. UGST
4. IGST

Question 28.
It was launched by the RBI in 2013. The transactions are settled on real time basis. What does it mean? Write a short note about this?
Answer:
Real Time Gross Settlement Systems (RTGS) was launched by the RBI in 2013. The transactions are settled on real time basis. Gross settlement means the transaction is settled between one bank and another bank without adding any other transactions.

Question 29.
State the different types of Public Sector Enterprises?
Answer:

1. Coal India Ltd
2. Gas Authority of India Ltd
3. Tamil Nadu State Transport Corporation
4. Steel Authority of India Ltd

Question 30.
Who is a sleeping partner?
Answer:
A sleeping partner is the one who contributes capital and shares in the profits or losses of the firm but does not take part in the management of the business.

PART – III

Answer any seven questions in which question No. 40 is compulsory: [7 × 3 = 21]

Question 31.
Explain the features of general stores?
Answer:
General Stores sell a wide variety of products under one roof, most commonly found in a local market and residential areas to satisfy the day – to – day needs of the customers residing in nearby localities.

They remain open for long hours at convenient timings and often provide credit facilities to their regular customers.

Question 32.
Explain the characteristics of business?
Answer:
The essential characteristics of business are as follows:

1. Production or Procurement of Goods: Goods must be produced or procured in order to satisfy human wants.
2. Sale, Transfer or Exchange: There must be sale or exchange of goods or services.
3. Profit Motive: An important feature of business is profit motive. Business is an economic activity by which human beings make their living.
4. Dealing in Goods and Services: Goods produced or procured may be consumer goods like cloth, pen, brush, bag, etc., or producer-goods like plant and machinery.

Question 33.
All the affairs of a Joint Hindu Family are controlled by the manager. The other members are co-parceners. What is the other name of the manager in Joint Hindu Family? How does he control the business?
Answer:
The other name of the manager in the Joint Hindu family is ‘Karta’. The Karta is the senior most male member of the family. He controls and manages the business of the Joint Hindu family.

Question 34.
Income tax provides the method to compare the total income of an assessee. It is divided into five heads. What are the five heads of incomp under total income?
Answer:
The five heads of income are:

1. Income from ‘Salaries’ [Sections 15 – 17];
2. Income from ‘House Property’ [Sections 22 – 27];
3. Income from ‘Profits and Gains of Business or Profession’ [Sections 28 – 44];
4. Income from ‘Capital Gains’ [Sections 45 – 55]; and
5. Income from ‘Other Sources’ [Sections 56 – 59]

Question 35.
Generally, the liability of the partners in a firm is unlimited. But in service sector, the liability is limited. What is the name of the partnership? Write a short note about this?
Answer:
The name of the partnership is Limited Liability Partnership. It is popular in service sector and in the small scale enterprises. Limited liability partnership means for paying the debts of the firm, only the assets of the business will be utilised. Example – cost accountants firm, lawyers, engineers, etc.

Question 36.
Mention any three features of government company?
Answer:
Features of government company: .

1. Registrations under the companies Act: A government company is formed under the Companies Act 1956.
2. Own staff: A government company has its own staff except government officials who are sent to it on deputation.
3. Majority of the capital provided by the government: The whole or majority (at least 51%) of the capital of a government company is provided by the government.

Question 37.
What is bill of lading?
Answer:
Bill of Lading is a document containing the terms and conditions of the contract of carriage. It is issued by the shipping company and signed by the captain of the ship.

It acknowledges the receipt of the goods described in it on board the ship. It also serves as an official receipt of goods. It is a document of title of goods.

Question 38.
What do you mean by the concept of business ethics?
Answer:
Business exists to supply goods and services to the people from social point of view but from individual point of view, the primary objective of any business unit is to make profit.

The individual objective should not be in conflict with societal objective. These two objectives normally contradict each other, as one business enterprise may be good in individual objective and bad at social objective and vice versa.

Question 39.
Define Retailer?
Answer:
According to S. Evelyn Thomas “the retailer is the last of the many links in the economic chain whereby the consumer’s wants are satisfied smoothly and efficiently by retailers”.

Question 40.
Write any three differences between Direct taxes and Indirect taxes?
Answer:

PART – IV

Answer all the questions: [7 × 5 = 35]

Question 41 (a).
What are the features of public corporation? Explain any five?
Answer:
1. Special Statute:
A public corporation is created by a special Act of the Parliament or the State Legislature. The Act defines its powers, objectives, functions and relations with the ministry and the Parliament (or State Legislature).

2. Separate Legal Entity:
A public corporation is a separate legal entity with perpetual succession and common seal. It has an existence, independent of the Government. It can own property; can make contracts and file suits, in its own name.

3. Capital Provided by the Government:
The capital of a public corporation is provided by – the Government or by agencies controlled by the government. However, many public corporations have also begun to raise money from the capital market.

4. Financial Autonomy:
A public corporation enjoys financial autonomy. It prepares its own budget; and has authority to retain and utilize its earnings for its business.

5. Management by Board of Directors:
Its management is vested in a Board of Directors, appointed or nominated by the Government. But there is no Governmental interference in the day – to – day working of the corporation.

[OR]

(b) Explain the organizational structure of RBI?
Answer:
The head office of the RBI is situated in Mumbai. This central office has 33 departments in 2017. It has four zonal offices in Mumbai, Delhi, Calcutta and Chennai functioning under local boards with deputy governors as their heads. It also has 19 regional offices and 11 sub – offices (2017).

The RBI is governed by a central board of directors. The 21 member board is appointed by the Qovemment of India. It consists of:

1. One Governor and four deputy governors appointed for a period of four years.
2. Ten Directors from various fields.
3. Two Government officials.
4. Four Directors – one each from local boards.

Question 42 (a).
Sole proprietorship is a form of business organization in which an individual introduces his own capital, uses his own skill and intelligence in the management of the business. Explain the characteristics of a sole trader?
Answer:
Business owned and controlled by a single person is known as sole trading business.
The following are the characteristics of a sole trader:

1. Ownership by one man: This is owned by single person. The sole trader contributes the required capital.
2. Freedom of work and Quick decisions: The sole trader is the owner, so he need not consult with others. Hence he can take quick decision.
3. Unlimited liability: When his business assets are not sufficient to pay off the business debts he has to pay from his personal property.
4. Enjoying Entire Profit: All the benefits earned by the sole trader is enjoyed by him alone.
5. Absence of Government Regulation: A sole trading concern is free from Government regulations. No legal formalities are to be observed in its formation and management,
6. Maintenance of Secrecy: Since the trader manages all the affairs of the business, the secrecy can be maintained easily.

[OR]

(b) Partnership is the relation between persons who have agreed to share the profits of a business carried on by all. It is the result of an agreement. Closing of business is also by an agreement. It is called Dissolution of Partnership. Explain the dissolution of partnership firm without the order of the court?
Answer:
Dissolution of a partnership firm takes place in two ways:

1. Without the order of the court and
2. By the order of the court A.

Without the order of the court:

1. By agreement or mutual consent:
A firm may be dissolved when all the partners agree to close the affairs of the firm.

2. By insolvency of all the partners but one:
If any one of the partners is adjudged as insolvent, it is necessary to dissolve the firm.

3. When the objective becomes illegal:
When the business carried on by the partnership becomes illegal, the partnership firm is automatically dissolved.

4. By notice of dissolution:
In the case of partnership at will, if any partner gives in writing to close the firm, the firm will be dissolved.

5. On certain contingencies:

• On the expiry of the period of the firm.
• On the completion of a business.
• On the death of a partner.
• On the retirement of a partner.
• On the insolvency of a partner.

Question 43 (a).
Explain the various types of warehouses?
Answer:
1. Private Warehouses:
Private warehouses are built and owned by private business enterprises in order to store the products produced by them.

2. Government Warehouses:
They are created and operated by the Government to implement the programmes of the Government.

3. Public Warehouse:
It is open for public at large. Most of the business organisations, especially small and medium scale units cannot afford to have their own warehouses.

4. Co – operative Warehouses:
There are warehouses owned and managed by the marketing co – operative societies or agricultural co-operative societies. They are setup to provide warehousing facilities to their members.

5. Bonded Warehouses:
Bonded warehouses are those warehouses, which are licensed by the government to accept storage of imported goods which are not cleared due to non¬payment of customs duty by the importer.

[OR]

(b) Insurance is a contract between the insurer and the insured under which the insurer undertakes to compensate-the insured for the loss arising from the risk insured. Explain the principles of insurance?
Answer:
1. Utmost Good Faith:
According to this principle, both insurer and insured should enter into contract in good faith. Insured should provide all the information that impacts the subject matter. Insurer should provide all the details regarding insurance contract.

2. Insurable Interest:
The insured must have an insurable interest in the subject matter of insurance. Insurable interest means some pecuniary interest in the subject matter of the insurance contract.

3. Indemnity:
Indemnity means security or compensation against loss or damages. In insurance, the insured would be compensated with the amount equivalent to the actual loss and not the amount exceeding the loss. This principle ensures that the insured does not make any profit out of the insurance. This principle of indemnity is applicable to property insurance alone.

4. Causa Proxima:
The word ‘Causa proxima’ means ‘nearest cause’. According to this principle, when the loss is the result of two or more cause, the proximate cause, i.e. the direct. The direct, the most dominant and most effective cause of loss should be taken into consideration. The insurance company is not liable for the remote cause.

5. Contribution:
The same subject matter may be insured with more than one insurer then it is known as ‘Double Insurance’. In such a case, the insurance claim to be paid to the insured must be shared on contributed by all insurers in proportion to the sum assured by each one of them.

6. Subrogation:
Subrogation means ‘stepping the shoes on others’. According to this principle, once the claim of the insured has been settled, the ownership right of the subject matter of insurance passes on to the insurer.

7. Mitigation:
In case of a mishap, the insured must take off all possible steps to reduce or mitigate the loss or damage to the subject matter of insurance.

Question 44 (a).
Write short notes on:

1. Owner’s funds
2. Borrowed funds

Answer:
1. Owner’s Funds:
Owner’s funds mean funds which are provided by the owner of the enteiprises who may be an individual, or partners or shareholders of a company.

The profits reinvested in the business (ploughing back of profit or retained earnings) come under owner’s funds. These funds are not required to be refunded during the life time of business enterprise. It provides the owner the right to control the management of the enterprise.

2. Borrowed Funds:
The term ‘borrowed funds’ denotes the funds raised through loans or borrowings. For example, debentures, loans from banks and financial institutions, public deposits, trade credit, lease financing, commercial papers, factoring, etc., represent borrowed funds.

• These borrowed sources of funds provide specific period before which the fund is to be returned.
• Borrower is under legal obligation to pay interest at given rate at regular intervals to the lender.
• Generally borrowed funds are obtained on the security of certain assets like bonds, land, building, stock, vehicles, machinery, documents of title to the goods, and the like.

[OR]

(b) What is meant by consumers co-operative store? Explain its merits in brief?
Answer:
A consumers co-operative store is a retail organisation owned, managed and controlled by the
consumers themselves to obtain products of daily use at reasonable low prices. Its objective is to eliminate profits to middlemen by establishing a direct contact with the manufacturers.

People belonging to middle and low income groups, at least 25 persons have to come together to form a voluntary association and get it registered under the Cooperative Societies Act.

The capital of a co-operative store is raised by issuing shares to members. The management of the store is democratic and entrusted to an elected managing committee, where “one man one vote” is the rule.

The co – operative stores are very famous in Tamil Nadu. For example, Kamadhenu and Chinthamani co-operative supermarkets in Chennai, Karpagam in Vellore, etc. .

Question 45 (a).
Describe the agency functions of commercial banks?
Answer:
Banks act as agents of customers and provide certain services:

1. Transfer of Funds:
Banks issue demand drafts, bankers’ cheques, travelers’ cheques, etc. and help in transfer of funds from one place to another.

2. Periodic Payment of Premiums, Rent, etc:
After instruction from the customers, banks undertake the monthly payment of insurance premium, rent, telephone bills, etc., from the accounts of customers.

3. Collection and Payment of Cheques:
On behalf of customers, bank collect the cheques deposited into the accounts of customers from other banks and deposit cash in the customers’ accounts.

4. Acting as Executors, Trustees and Attorneys:
Banks act as executors of will of the customers and implement their will after their death.

5. Conduct Share Market transactions:
A Demat account should be opened with Depository Participant and that demat account should be linked with savings bank account by the customer.

6. Preparation of Income Tax Return:
Banks prepare the annual income tax return on behalf of the customers and provide income tax related advice to them.

7. Dealing in Foreign Exchange:
Banks buy and sell foreign currencies on behalf of customers.

8. Acting as Correspondent:
Banks act as correspondent of customers and receive travel, ticket, passport, etc.

[OR]

(b) Explain the services rendered by retailers to consumers?
Answer:
1. Regular Supply of Goods:
Retailers maintain a ready stock of various products of different manufacturers for sale to consumers.

2. New Products Information:
The retailers provide important information about the new arrival of products through their personal.

3. Credit Facilities:
Sometimes retailers provide credit facilities to their customers and enable them to increase their level of consumption.

4. Wide Selection:
Retailers generally keep stock of a variety of products of different manufacturers.

5. Miscellaneous Services:

• Retailers provide free door delivery services to the customers.
• They provide after sale service to customers.
• They allow cash discounts on their sales.

Question 46 (a).
Write a note on e-commerce models?
Answer:
1. Business to customers (B2C):
This is fastest growing segment in e-commerce space. Under this model, business concern sells directly to consumers.

2. Business to Business (B2B):
Under the model, business concerns transact with one another through internet. For instance, Snapdeal, Flipkart, Alibaba, Indiamart, Trade India.com etc.

3. Consumer to consumer (C2C):
Under this model, customers sell directly to other customers through online classified advertisement or through auction or through mobile or through market places.

Example, Indian ventures in C2C are Kraftly App (buying and selling anythings) which deals in handmade products of a wide range. Onceagainstore. com is a website that buys pre-owned women’s fashion products. Other players are Quikr, OLX, ebay, etc.

4. Customer to Business (C2B):
This model is reverse to auction model. Products like • automobile, electronic items, furniture and similar product are traded by customer through websites. Naukri.com and Monster.com are examples of Indian companies operating in this domain.

5. Business to Government (B2G):
This model envisages selling products and services by business consumer to Government organization. For instance TCS operates the passport application process for the Government of India as part off-line process.

[OR]

(b) Explain any four personal investment avenues?
Answer:
1. Public Provident Fund (PPF):
It is the safest long – term investment option for the investors in India. It is totally tax- free. PPF account can be opened in bank or post office. The money deposited cannot be withdrawn before 15 years and an investor can earn compound interest from this account.

However the investor can extend the time frame for the next five years if the investor does not opt to withdraw the amount matured for payment at maturity date. PPF investor can take loan against PPF account when he/she experiences financial difficulties.

2. Mutual Funds:
An individual investor who wants to invest in equities and bond With a balance of risk and return generally can invest in mutual funds. Nowadays people invest in stock markets through a mutual fund. Systematic investment plan is one of the best investment options in India.

3. Direct Equity or Share Purchase:
An individual can opt for investment in shares. But he has to analyse the market price of various shares traded in stock exchange, reputation of the company, consistency in the payment of dividend, the nature of the project undertaken by the company, growth prospects of industry in which a company is operating, before investing in shares. If the investment is made for a long time, it may yield good return.

4. Real Estate Investment:
Real estate is one of the fastest growing sectors in India. Buying a flat or plot is supposed to be the best decision amongst the investment options. The value of the real asset may increase substantially depending upon the area of location and other support facilities available therein.

Question 47 (a).
What are the functions of wholesalers?
Answer:
Following are the functions of wholesalers:

1. Collection of Goods: Wholesaler collects the goods from manufacturers or producers in bulk.
2. Storage of Goods: Wholesaler collects and stores them safely in warehouses, till they are sold out.
3. Distribution: Wholesaler sells goods to different retailers. Thus he performs the function of distribution.
4. Financing: Wholesalers provide financial support to producers and manufacturers by providing money in advance to them.
5. Risk Taking: Wholesaler buys finished goods from the producer and keeps them in the warehouses till the time they are sold and assumes the risk arising from price, spoilage of goods, and changes in demand.
6. Grading, Packing and Packaging: Wholesaler classifies the goods into different categories.
7. Providing Information: Wholesalers provide valuable information to retailers and producers.
8. Transportation: A wholesaler arranges for the transport of goods from producers to his warehouse and from the warehouse to retailer.

[OR]

(b) Explain the characteristics of a supermarket?
Answer:

1. Supermarkets are generally situated at the main shopping centres.
2. The goods kept on racks with clearly labelled price and quality tags in such stores.
3. The customers move into the store to pickup goods of their requirements, bring them to the cash counter, make payment and take home delivery.
4. The goods are sold on cash basis only. No credit facilities are made available.
5. Supermarkets are organized on departmerftal basis.
6. It requires huge investment.