12th standard commerce public model exam question paper

                   LEAD BY KNOWLEDGE COACHING CENTRE AND TUTORIAl                           PUBLIC MODEL EXAM – 2015

                                         PART - III

                                     COMMERCE

Time Allowed: 3 Hours]                                                                         [Maximum Marks : 200

Note: Answer all the questions.

I. Choose the correct answers:

1. A multinational company is also known as

   a. Global giant                                           b. Partnership

  c. Co-operative society                              d. Public corporation

2. Co-operative society can be started

a. Only in villages                                       b. In towns and villages

c. Only in cities                                           d. Only in State headquarters

3. The liability of a soletrader is:

a) Limited only to his investment in the business

b) Limited to total property of the business

c) Unlimited

4. A partnership firm may be registered under

a) 1949 Act                                 b) 1956 Act                           c) 1932 Act

5. In partnership there exists a relationship of

a) principal and agent                b) owner and servant             c) employer and employee

6. No division of work in

a) Sole trading                           b) partnership                         c) joint stock company

7. A private limited company can commence business

    a) immediately on receiving the certificate of incorporation

    b) only after the certificate of commencement of business is received

    c) on getting name approval from the Registrar

    d) on filing all the documents necessary for formation with the Registrar

8. Table A of the Companies Act is a

a) model minutes book                                                b) model form of balance sheet

c) model of Articles of Association                            d) model of memorandum of association

9. A preference share has priority in

    a) dividend only                                       

    b) only in return of capital at the time of winding up

    c) voting rights

    d) both dividend and return of capital on winding up

10. A company should compulsorily appoint a qualified company secretary, having a paid

      up capital of more than

     a) Rs. 5 Lakh                                                                    b) Rs.50 Lakh

    c) Rs.25 Lakh                                                                   d) Rs.15 Lakh

11. Who can call Extraordinary General Meeting ?

    a) Company Law Tribunal

    b) Board of Directors on its own or on the requisition of members

    c) By the requisitionists themselves on Board’s failure to convene

   d) all of these

12. A person can hold directorship of not more than _________ public limited companies

   a) 10                                 b) 15                        c) 20                 d) limitless

13. A bull operator believes in

   a) Increase in prices                                                          b) Decrease in prices

   c) Stability in prices                                                          d) No change in prices

14. A stock exchange is a place to

    a) Exchange one security for another

    b) Buy and sell financial securities

    c) Float new shares

    d) Buy and sell stock of goods

15. Stock exchange allow trading in

   a) All types of shares of any company                                 b) Bonds issued by the Government

   c) Listed securities                                                               d) Unlisted securities

16. The basic objective of a co-operative society is.

   a). Earn profit

   b)  Organise some essential service for the benefit of its member

   c)  Organize essential services to the community.

   d)  Arrange for enough of quality goods for the community

17. Central Co-operative bank is established at

      a. Villages                                                                               b. Districts

      c. State head quarters                                                              d. Urban areas

18. In a public corporation the management has

a) Limited freedom                                                                       b) No freedom of action

c) Controlled freedom                                                                d) Unrestricted freedom of action.

19. In a government company the share capital of the government must not be less than

      a) 51%                        b) 60%                        c) 75%                    d) 90%

20. Heavy, basic and defence  are reserved for

     a) Public sector           b) Private sector          c) both public and private

II. Fill in the blanks

21. Government policy is also favourable towards     _____________

22. Line of authority must proceed from the highest executive to the worker at the bottom

      level through a downward flow. This is known as  -------------------------

23. Delegation means the ___________ of part of the work

24. Sole proprietorship is the -------------------- from of organisation

25. The life of the sole trader business is --------------- and ---------------------

26. A partner who does not take part in the working of the firm is called_________ partner.

27. The partners liability in India is _______________

28.  Every partner has the right to receive interest on loans and advances  at the rate of -----

       per annum..

29.  A private company should have at least _________directors.

30.  The minimum number of members in a private company is _____

31. An advertisement inviting the public to buy the debenture of a  public company

       is known as _____________

32. Altering the Articles of Association requires ___________ Resolution

33. The minimum number of members required for a meeting is known as __________________

34. The notice calling the annual general meeting, must, be given to all its members at least _______________ days before the date of the  meeting.

35. Debentures denote ________________ interest.

36. Companies are assisted by _____________to make new issues.

37. Management of a Co-operative Society is fully _______________

38. An industrial co-operative is organized by _________________

39. The most suitable form of organisation for manufacturing defence goods is --------------

40. Public corporations are managed by a ___________nominated by the Government

                  

                                                      PART – B

Note:  (i) Answer any ten questions

          (ii) Answer to each questions should not exceed four lines

41. What is scalar principle?

42. State the meaning of Board organization

43. What is a sole proprietorship business?

44. Define implied authority of a partner

45. What is meant by perpetual succession?

46. What is the significance of the common seal of the company?

47. What do you mean by quorum?

48. What is meant by resolutions requiring special notice?

49.  What is a special resolution?

50.  What is ‘private placement’?

51. What is minimum subscription?

52. What is the significance of ‘self help and mutual help’?

53. What is agricultural credit society?

54. Define state enterprises?

55. How do the state enterprises bring in balanced economic growth? 

                                     PART – C

Note: (i) Answer any five questions

          (ii) Answer to each question should not exceed one page

56. On what reasons study of organisation is important?

57. Explain the procedure for registration of a partnership firm.

58. State briefly the contents of Articles of Association.

59. What do you understand by Holding and Subsidiary Companies ?

60. State the differences between Managing director and Manager

61. Differentiate between Investors and speculators.

62. Briefly explain the demerits of co-operative societies

63. What are the features of a public corporation?

                                                   PART – D

Note : (i) Answer all the questions

          (ii) Answer to each question should not exceed two pages

64. Describe the various types of business organization

                                      OR

     Discuss the features, merits and demerits of the Departmental organizations

65. One man control is the best in the world provided that one man is big enough

      to take care of everything” Discuss

                                       OR

      Distinguish between the joint stock company and co-operative society

66. Explain the rights and duties of partners

                                     OR

     Explain the different types of debentures.

67. Discuss the functions and duties of a company secretary.

                                   OR

     Explain the objectives, features, functions and powers of SEBI.