Small Business — Business Studies STD 11 Commerce — Question

State the different types of economic activities.

Kumar has completed his senior secondary examination from Central Board of Secondary Education. After the results had been declared his father asked him what he would like to do in the future. Kumar was undecided and did not answer. His father advised him to start his own business and to pursue his studies through distance learning mode. Kumar reluctantly agreed.
He entered into a partnership agreement with one of his school friend, Gurmeet and his distant Uncle. They decide to start a business of cold drinks with traditional mughlai aroma in a fashionable crowded street of Bengaluru. Because of the novelty of their product their sales increased on daily basis and they earned good profits. But Kumar and Gurmeet are very sad due to sudden demise of their uncle. On suggestion of Kumar's father they decided to admit 13 years old son of their uncle in partnership on 1 January 2018.
On the basis of the given information, answer the following questions:
(a) What is a status of his uncle's son in partnership?
(b) Will his status change after attaining majority?

Satish took an insurance policy for his car. But he sold the car within a year to his friend Ramesh and got the registration done in Ramesh's name. After few months the car was stolen from Ramesh's Garage. Satish made a claim to Insurance Company. But his claim was rejected on the ground that he has not suffered any financial loss due to theft of the car.

On the basis of the given information about Satish, answer the following questions:
(a) Explain the insurance principle followed by Insurance Company in rejecting the claim?
(b) Who can claim the compensation from Insurance Company and why?

State the features of cottage industries.

Explain various modes of transport in India.

Explain any four features of GST.

Explain briefly the different types of services.

Discuss the merits and demerits of Departmental Undertaking.

MNO Ltd., a renowned computer follows the vision of “reaching new heights with its people on its side”. It not only provides quality products but also provides various facilities to its employees for 5 years of service. It also provides computer skills to youth in remote areas for free.
(a) What according to you are the business ethics of the company ?
(b) It is fulfilling its social responsibilities towards which interest groups ?

At which stage in the formation of a company does it interact with SEBI.