RBSE Class 12 Business Studies Model Paper 1 English Medium are part of RBSE Class 12 Business Studies Board Model Papers. Here we have given RBSE Class 12 Business Studies Sample Paper 1 English Medium.
|Paper Set||Model Paper 1|
|Category||RBSE Model Papers|
RBSE Class 12 Business Studies Sample Paper 1 English Medium
Time: 3.15 Hours
Maximum Marks: 80
General Instructions to the Examinees
- Candidate must write first his/her Roll No. on the Question paper compulsorily.
- All questions are compulsory.
- Answer each question in given answer book only.
- Questions numbering from 1 to 10 are Very Short Answer Type. Each question is of 1 marks.
- Questions numbering from 11 to 18 are Short Answer Type Questions-I. Each question is of 2 marks.
- Questions numbering 19 to 27 are Short Answer Type Questions-H. Each question is of 4 marks.
- Questions numbering 28 to 30 are Essay Type (Long Answer Type) Questions. Each question is of 6 marks.
- Questions numbering 28, 29 and 30 have internal alternatives.
PART – A
Who is the founder of scientific management? 
Explain innovation in management. 
What do you mean by implied contracts? 
State the difference between agent and contractors. 
Define entrepreneurship according to Prof. Rao and Mehta. 
Why is it important for an entrepreneur to be diligent? 
What do you mean by Insurance agreement? 
What do you understand by insurance agent? 
When did service tax apply in India? 
In which of the Indian states, sales tax was first applied? 
PART – B
‘Management is universal (omnipresent).’ Clarify it. 
Write down the two characteristics of professional managers. 
What do you mean by surrogate advertising? 
“Insurance is not a donation.” Do you agree with this statement? 
State the two characteristics of valid contract. 
What is called harassment? 
In your opinion is entrepreneurship a behaviour ? Explain it. 
What do you understand by GST? 
PART – C
State any four functions of management. 
Clarify the theory of unity of command and theory of discipline. 
Describes the four benefits of management. 
Clarify the four functions of marketing management. 
Describe the four social utilities of insurance. 
Clarify the objectives of entrepreneurship development programmes. 
If you were a manager, what would be your social responsibilities towards employees as a manager ? Explain. 
Draw the diagram of social responsibilities of management 
How are the returns made by the businessman under GST? 
PART – D
What do you understand by management? Explain any of its four characteristics. 
What do you mean by Management by Exception ? State any of its five advantages.
Suppose you are a manufacturer, to increase sales and attract businessmen, what method would you adopt? 
As a sales manager, what advertising methods would you like to adapt to increase sales?
What do you mean the agency? Describe the five rights of an agent. 
What does return mean? Describe its key provisions.
F.W. Taylor is the founder of scientific management.
Innovation in management means production of a new commodity, such as – use of artificial matter in place of soap based on fat, make it more useful by making changes in the goods.
Proposal manifested by work and conduct is called implied contract.
The agent is bound to act according to his master/owner, whereas the contractor is responsible to do the task according to the agreement.
According to Prof. Rao and Mehta, “Entrepreneurship can be described as creative and innovative response to the environment”.
It is very important for an entrepreneur to be diligent to maintain himself and become successful in the current competitive era.
The insurance agreement is a written document by which an insurance contract is made between the insurer and the insured.
Insurance agent is the person who works in between the insurer and the insured.
Service Tax in India came into effect from 1st July, 1994.
Sales tax was first applied in Madhya Pradesh.
Management is universal because today, the principles and techniques of management process are being used in all non-business areas. It is not possible for any field to develop without management.
- A professional should be dedicated to knowledge and new techniques.
- Use of modem management techniques.
Under this technique of advertising, that companies are included, which do not directly advertise their products. These advertisers use indirect technologies for selling their products.
Yes, because donation is not given for real return, while insurance has valid and real return.
- Having two or more parties.
- Having Stability.
Harassment means to use coerce, pressure, threatening and force.
Yes, entrepreneurship is a behaviour- the more entrepreneur bears risk, performs new work, becomes innovative, that person becomes a big and strong entrepreneur.
GST is an indirect tax which applies equally on the production of goods and seller of the product. It is a kind of value added tax which is imposed on the value described at each level of sale of any item or service.
- Unity Of Command- This principle states that each subordinate should receive orders from only one boss or superior.
- Unity of direction- The principle of unity of direction states that there should be one head and one plan for the activities having same objectives.
The broad and general guideline rules for decision-making and behaviour for the operation of an organization are called the principles of management.
- Principles of Management propounded by Henry Fayol – Fayol had propounded 14 principles, which are called the principles of classical ideology of management. The management principles of Fayol are considered as administrative tendencies.
- Principles of System – The system has an important contribution in the smooth operation of any work. Every item used for production should be arranged in the proper place for each employee. In Fayol’s words, “The person and the goods should be in the right place, for maximum production.” If the location is certain for each object then there will be no difficulty in operating the work. This will increase productivity and efficiency.
- The Principle of Discipline – Discipline is very essential in an organization. According to Fayol, following necessary rules and conditions of the organization is mandatory. For this, the law of supervision, satisfactory agreement and fair punishment at every level is necessary. This will enable both the workers and the manager to perform their own actions without the spirit of any error.
All organizations get the following benefits from management –
- Management techniques improve managerial skills and performance so that managers have the opportunity to achieve their goals.
- In this system, the situation of organizational roles, structures, power, liability, recruitment work, etc., becomes clear too.
- Effective control over employees, goals, plans, activities, work progress, etc., through management.
- Best planning is possible only through management. Thus, through the management, the benefits of the institution can be expressed in the following ways:
- Excellent Planning
- Excellent Management
- Effective Control
- Clarity of organization
1. Collecting and Analysing Information from Market- The marketing work begins with experiments. The use of marketing work means that in order to find out the needs of the customer first, by the marketer, he tries to know exactly what the customer wants, what is the quantity which he wants to buy, and how much (maximum) value can be given for the goods.
2. Market Planning – Market planning involves creating a phased plan for achieving marketing objectives. This scheme is used to increase productivity, increase production and goods through modem means.
3. Product Design and Development – Each marketer provides an item or service to a customer under a plan. Many elements are embedded in this plan, such as quality standard, size or design of packaging, etc. Through this, he tries to make his product better than the other .products under market competition and by packing he tries to make goodwill the of the product.
4. Standardisation and Grading – Authentication means – Consistency in product by maintaining product quality. Ensuring in the quality of the product is helpful in selling it. By classification, the products are classified according to their size and quality. In the perspective of modem business, manufacturers focus more on the process of authentication, so the product should be categorized necessarily. By classification, the producer gets more value for higher quality product.
Insurance is a very useful tool for society, it has encouraged sustainability in society. It has also contributed in troubleshooting of many social problems. Social utility of insurance is as follows –
1. Safety Device- The biggest utility of insurance is that it provides protection against uncertainties. According to Angel, “Insurance is a permanent basis of protection from uncertain losses.” Because of the safety element, insurance is becoming popular in every area of society. Life insurance provides complete protection in old age, and in the event of premature death, the ‘dependent’ families also get the ability to spent then lives. Similarly, fire insurance, marine insurance also protects the insured from loss due to certain types of accidents.
2. Socialization of risks – Risk on a person, by insurance, is divided into many individuals. The responsibility of indemnity is not on one person, but the insurance company distributes it to all the members. According to Angel, the cost of an accident can easily be tolerated by dividing it into a very large group of individuals.
3. Self-Dependency- By taking insurance, the person and his family become self-reliant in one way. He does not depend on others, He gets self-reliant by receiving a loan from the insurance company and receiving financial benefits under various means. If a person retires, by getting a large sum of insurance in old age, he can lead the rest of his life in happiness. If someone accidentally dies, then his family can face this crisis by self reliance.
4. Stop on family dissolution- According to Maggi, “Because insurance provides solutions to the crisis, it is definitely the means of keeping the family organized.” Many times, the death of the head of the house has adverse effects on the future of his wife and children, but every person can provide stability to his family by life insurance. Thus, family dissolution is prevented through insurance.
Under the Entrepreneurship Development Programs, they are assisted in finding the potential entrepreneurs in the mass group, by developing entrepreneurship, technical and managerial training, and establishing their own ventures. Along with the development of small and cottage industries, the doubts and problems of entrepreneurs are diagnosed and treated. Followings are the main objectives of entrepreneurship development programmes :
1. Promote First Generation Business and Industrialists- Generally, it was believed that entrepreneurs are born, they cannot be developed, but this ideology has been changed by entrepreneurship development programs. In those homes, where there was no talk of business, businessmen are being created and this is the first objective of Entrepreneurship Development Program.
2. Develop Entrepreneurs Qualities- The success of an entrepreneur depends on his qualities and the development of these qualities can be possible through the entrepreneurship program. The Entrepreneurship Development Program seeks to develop entrepreneurial motivation by identifying and imparting education and training to entrepreneurs.
3. Provide information on government schemes and programs- Information about various schemes and programs run by the government for entrepreneurship development programs is provided to the entrepreneurs and from what detailed information about how to use these schemes, where and how to get it, which department will provide information? Providing useful information etc. is also the purpose of the Entrepreneurship Development Program.
4. Helpful in project construction- The Entrepreneurship Development Program provides
entrepreneurs with assistance in project construction. It facilitates construction of the project by providing entrepreneurs with the necessary basic facts, resources, financial and government knowledge, etc., for the project construction.
The society which meets the needs of business, the manager fulfils the expectations of that society with his skill. This is called social responsibility because society fulfils all the requirements of the business, then it is imperative that society too expects something from the business world. This is the responsibility of the manager in the society.
Responsibility towards employees- Employees are the important resources of the institution, they are not only human mechanism but also the persons with sensitive sentiments. According to Charles Mayers, “The enterprise which neglects the needs and feelings of human elements is nothing more than the instrument group.” A manager has the following obligation towards employees-
- Paying good salaries,
- Implement inspirational wage schemes,
- Providing security guarantees to employees,
- Providing health work conditions,
- Working of labour welfare,
- To arrange social security, pension, gratuity, insurance provident fund, etc.,
- Assign employees to work according to their qualifications and interests,
- Providing training to employees,
- Providing opportunities for promotion,
- Providing participation in managing staff,
- Participating in bonuses and benefits,
- Providing new facilities for capacity and personality development, and
- Providing other facilities.
Customer is the king of the market. Customer’s satisfaction is the key to business success. The government protects the interests of customers, so any negligence in this regard can prove to be fatal to the business. Under these circumstances, the management has to fulfill some responsibilities towards them, which are as follows
- To study about their needs, wants, tastes, likings etc.
- To supply right quality and quantity of goods and services to consumers at reasonable prices.
- To offer products of uniform standard.
- To ensure fair distribution of products.
After GST is implemented, traders may have to pay monthly returns. At present, small traders have to pay quarterly returns in the form of VAT and excise duty and there is a provision to fill the returns in service tax. Every trader has to submit the following 3 return statements-
1. Sale Statement (Section 25)
During the month, information about the sale of goods or services provided will be presented in this review. This information must be submitted within 10 days from the end of the month. This recruitment involves selling at zero rates, inter-state sales, purchasing return, export outside the country, debit note, credit note, etc. This information will be mixed with the returns submitted by the buyer in section 26. If a miss-match is there, then V the chance to correct it will be given to the dealer.
2. Purchase Statement
Information for the goods purchased and the services received during the month will be given within 15 days from the end of the month. It will also have to provide information on interstate purchase. Information about those services which need to be serviced by the service providers under reverse charge is to be provided separately. If any debit notes or credit notes have been received in connection with the supply, this information will also have to be provided.
This information will be matched with the sales details submitted by vendor in section 25 and if any missmatch is there, then the opportunity to correct it will be given to the dealer.
3. Monthly Returns – [Section 27]
After submitting the statement of sale and purchase on 10th and 15th of each month respectively, the practitioner will have to furnish his monthly return online by 20th of each month. In addition to information about purchase and sales in monthly returns, input tax credits, tax information paid and other information must also be furnished.
Under the composition scheme, the sales tax returns, purchase details and return on the basis of quarterly basis will be presented.
It is necessary to submit tax due before submission of returns, otherwise, the returns submitted will be disqualified. Even if there is no purchase or sale in any month, it is necessary to furnish returns of Nil. Practising TDS-bearers will also have to pay monthly returns.
It is the process of fulfilling the task with the aim of achieving effective and efficient management objectives in a complete way. Under this, planning, organization, appointment, direction, and control are included.
In the wordings of Harald Koontz, “Management is the art of getting things done through others and with formally organised groups.”
Management is an art and science that helps in getting work done by other people, reducing costs, and achieving objectives.
The main characteristics of management are the following
1. Management is universal- Whether the organization is economic, social or political, the processes of management apply equally to all. Management for effective performance is essential for all organizations. It has elasticity, so it can be changed according to the individual needs of the institutions.
2. Management is multidimensional- Management is a complex process, following are
its three magnitudes :
- Management of Work- The management collects -the resources needed to complete the task.
- Management of People- The management appoints the persons for all kinds of tasks so that organizational goals can be achieved.
- Management of Operations- Operation of any organization is to produce goods or services. Operation of the institution is related to the management of the person, or the management of the work, because only then raw material can be converted into merchantable goods by individuals.
3. Management is a Continuous process- There is a belief about the management that “management never stops.” Under this, the work of organization, appointment, direction, planning, and control, always goes on, so it is a continuous process.
4. Management is Purposeful Process- Each organization has some basic aims that cause it to exist. In order to achieve the same basic objectives of various organizations of the ipanagement, it binds all in a unity.
Management by Exceptions (MBE)- The exception is management technology which states that in all those tasks, and cases, the attention of high managers should not be attracted, which are regularly giving the results of the prescribed outcomes.
According to Raymond Macleod, “Most managers have so many responsibilities that they can find impractical or difficult to pay proper attention to all matters. Managers should focus their attention on very good and very bad execution.”
Management by exception means that managers should pay attention to the same situations and facts that arise in the form of significant deviation and exception from the prescribed value. The history of management technology by exception is quite old, but in the business field, it was identified in the late 19th century. The exception is considered by Frederick Winslow Taylor, father of scientific exponents of management. Management by exception is a technical one which states that the attention of the higher managers should not be attracted in all those elemental matters, which are regularly giving required the results of outcome.
Those tasks should be done by the subordinate managers which are arising out of the exception. With the exception, the technique of management makes the control simple, and effective, but it is also important to keep in mind that not to present exceptions is not always the case that everything is going well. Many times, even the general planned execution requires conversion. Exception can be reviewed by its management, benefits and limitations.
Benefit to management by exception
Management has the following advantages by the exception:
- This saves the personal time of managers.
- Complex problems and cases cannot escape the attention of high officials.
- It is easy to broaden the managerial field.
- The complete use of available contact, history and trends is possible.
- Individuals with more qualified and higher pay can be employed on higher affluence.
Business promotion involves those actions that inspire the trader to sell goods, more effectively. In this, various schemes are used by the manufacturers to purchase and sell more goods to wholesale traders, retail traders.
The following are the methods for attracting traders—
1. Sales Contest- Various contests are organized to encourage wholesale merchants and retail traders to sell more goods, in which awards are given by the manufacturers. Under this, the best selling competition, best seller competition, counter decoration competition, etc. are organized.
2. Allowances- Various’ allowances are provided to the purchaser, commodity allowance, advertisement allowance, decoration allowance, etc., to obtain the cooperation of the wholesale traders and retail traders by the manufacturers. These allowances reduce the expenses of the arbitrators and increase the sales.
3. Meetings and Conferences- Organizing meetings and conferences increases the mutual cooperation of producers and traders, which is helpful in sales promotion. Arbitrators with their meetings and conferences keep their problems in front of the producer and find solutions for these problems by mutual consultation. Through these gatherings and conventions, the manufacturer gives information about new changes and clarifies the sales policy.
4. Training- Training is very useful in sales promotion. Manufacturers and their intermediaries give general and specific training to the vendors in relation to the object. In the same training, knowledge is given about the art of selling, business policy, and working system. Special training is given in connection with technical goods, in which information about the technical, and operational aspects of the product, along with the sales-arts and business policy is given.
5. Fashion Show- Producers organize fashion shows to promote goods sold by merchants. Fashion shows are presented with the latest, and attractive methods, so that customers can be motivated to purchase these items. Fashion shows are organized from time to time by apparel, jeWelery and vehicle manufacturers.
6. Dealer Premium- Premium is an important means by manufacturers to encourage traders to sell, in which the manufacturer wants to sell the goods to a certain quantity, or to sell certain goods, or to purchase plenty of goods at the same time is given free. I would suggest to adopt the method of serial no.5, because at the present time, through the fashion show, the quality of goods, and the latest and attractive products will be propagated and it will increase the sales also.
Those’tools which help the desired markets, and objects that deliver messages about the ideas, are called advertising medium. There are various mediums of advertising, the main of which are the following :
1. Outdoor Advertisement- Such advertisements are made on walls, transport modes, posters, electrical sign-boards, hoardings, speakers. In these advertisements, attractive pictures and colours are used. The result of which is the attention of the people who are attracted towards them automatically. It is a composite type of advertising medium because once you have put a poster or board etc., it remains there for many days and keeps appealing to the public.
2. Newspaper Advertisement- Newspaper advertising is a suitable medium for advertising all types of goods and services. This medium is used by small and big business firms in the same way. There are two types of advertisements in the newspaper-
- Classified Ads- Advertisements in classified advertisements are printed under certain titles at the fixed place in the newspaper, such as tender, auction, purchasing, sales, education, marriage, etc. In classified ads, limited words are used.
- Unclassified ads- There is no fixed place in the newspaper for a classified advertisement. This can be given on any page of the newspaper, according to the wishes of the advertiser. This advertisement uses colours, attractive letters, and pictures, and gives information about the characteristics of the object, and the location of some meetings.
3. Magazine Advertisement- The advertisements that are published in various weekly, fortnightly, monthly, quarterly, magazines are called Magazine Ads. According to interest, and content, the magazines can be literary, religious, scientific and political, economic and commercial. Many magazines are also mixed in all these topics. India Today, Grehshobha, Sarita, Saheli, Sports, Business World, etc. are the major publications of the country. Life of magazines is longer than newspapers, so advertisements attract readers attention for longer period of time. In advertisements of magazines, many colours, pictures, and good quality paper are used, so that they can become more attractive.
4. Sandwich Man Advertisement- In Sandwich Man Advertisement, some people come out on the streets of the city by writing advertisements on clothes, or boards in a strange costume. Due to the bizarre outfit of Sandwich Man, the public gets attracted towards them, and the public reads read the posters. Bidi, cigarette, drugs, etc. are advertised through this method. This ad-medium attracts more to the rural masses.
5. Direct mail Advertisement- Advertisements in advertising by posting establishes direct contact with customers through post. Through this medium, sales literature, and other miscellaneous information is sent to potential customers by post. Under this, sales letters, scrolls, catalogues, price lists, folders, booklets, etc., are sent to the consumers. This medium paves the way for sellers.
6. Entertainable Advertisement- In the entertainment advertising modes, radio, television, movies, CDs, fairs, exhibitions, and drama and music are included in the program. This medium is elastic, effective, distinguished and economical. Through this, information and services can be provided to hundreds of individuals, together. Through this mode of advertisement, the advertisement of goods and services is done with a very attractive and entertaining program.
In the Indian Contract Act, the definition of the term agency has not been given, but sections 182 to 238 of the Act regulate agency relations-. There is a relation made by the agreement between the agency, the agent and the principal, in which the principal authorizes the agent to represent himself or establish his contractual relationship with the other parties.
According to a judicial decision – The essence of the agency is that the principal gives the authority to his agent, that he establishes the contractual relationship with his head with other persons.
An agent has the following rights-
- Right to receive Rumeneration- The agent has the right to get remuneration fixed according to the agreement between the agent and the principal or head. If any remuneration has not been decided, then also he entitled to get appropriate remuneration. In relation to any contrary contract, the agent does not have the right to receive remuneration before the completion of a certain task.
- Compensation to Agent For damage caused by Principal’s Negligence- If there is a loss due to the inadmissibility or negligence of the principal, then an agent is entitled to receive his compensation.
- The Right to stop the goods in the way- If the agent has purchased goods for the principal from his or her wealth, then in such a situation, he can also stop the goods on the road till his full payment is made. In the case of a buyer’s bankruptcy, the agent can stop the goods in the passage.
- The right to indemnify the termination of the agency prematurely- If by the
principal, without proper reasons, the agency terminates before the prescribed time, then the officer is entitled to indemnify the agent for loss arising due to this.
- Right of indemnification- The agent represents his employer, so if he has to do some work while working in the agency, the employer should protect against the loss of the agent.
Meaning of Consideration
Return means ‘some in exchange for some’. In other words, the meaning of the replicas is the value that is given by the promiseist in exchange of the promise by the promisor. According to the scholar Black Stone, “The return is a promise given by the party to the contract to the other party.”
According to Section 2(a) of the Contract Act- “When the promise or the separation or separation done by the promiseist or any other person on the will of the Giver, is called return. Which may be related to past, present, and future.”
Explanation by example- Harsh did agreement of selling his house for ₹ 5,00,000 to Vishnu. In this, there is a consideration of ₹ 5,00,000 for Harsha and there is a house for Vishnu.
Legal Provision related with Consideration
Under the contract, the provisions/rules related to the compensation are as follows-
- The promised word should be on the donor’s wish. Voluntary work done in the absence of the will of a promisor, cannot be considered as a return.
- The return does not have to be the benefit of the promised donor.
- The return can be made by the promised donor or by any other person.
- The return can be positive and negative, ie, according to the wishes of the promisor, it is positive on doing any work, and if not, the return can be negative.
According to Section 25 of the Contract Act- “The agreement of no consideration is considered worthless”, therefore it is necessary to have a return in each agreement, otherwise it is considered worthless. But in some cases the contract is considered to be valid between no returns, if
- The contract is due to natural affection and affection between close relatives and that contract is written and registered.
- When a person volunteered some work for another person, to whom the second person was legally bound.
- The contract for payment of periodic elements is free of deposit.
- When a contract is to be donated and the donor has made some obligation in the hope of receiving donations.
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