Business Arithmetic — Entrepreneurship STD 12 Commerce — Question

What should an entrepreneur do to mobilise the resources? Explain.

Street vendors sell various types of small goods. Often, there is a standard price posted for each item on sale. If the vendor really wants to sell an item, and determines that a prospective buyer is not willing to pay the posted price, he or she may engage the individual in a negotiation of the sale price. Sometimes referred to as dickering, the buyer and seller make offers back and forth until they can settle on a price that both believe is fair.

1. Explain the type of pricing method involved.
2. Describe the features of the pricing method involved.

Explain the role of financial planning' in financial management.

Describe the activities which are inspired mainly by economic consideration.

“An entrepreneur must pay attention to the quantity and quality of the manpower for his business as it directly impacts the performance and resulting productivity of the organization.”
(I) In the light of the aforesaid statement, identify the component of a business plan that helps an entrepreneur fulfill the stated purpose.
(II) State the objective and importance of the identified component.

Give any four reasons, when a sole proprietorship form should be adopted.

Why is working capital called as circulating capital?

Which ratio establishes the relationship between contribution and sale value?

Current assets of a firm are: cash = * 50,000, debtors = 375,000, Inventory = 1,00,500
Its current liabilities are:
Bills payable = ₹ 35,000, Creditors = ₹ 80,000
On the basis of the given information, compute Gross Working Capital and Net Working Capital.

State any two points of importance of 'Goal Setting'.