Business, Trade and Commmerce — Business Studies STD 11 Commerce — Question

You would like to start a business either as a partnership firm or a cooperative society but you are in a state of dilemma and would not be able to choose between them. Then in this case what will you do?

Discuss in brief the following objectives of business.

1. Market Standing.
2. Innovation.
3. Manager's Developments.

Deepak and Gaurav joined the prestigious law university in Ahmedabad in the year 2010. During the course of study they became good friends and they both realized that their common interest lies in the field of corporate law. After completion of their degree they decided to start a firm of their own, namely 'Corpo Law Firm' wherein both of thein will be co-owners dividing the profit and loss. After successfully running the firm for a year, they realized that there are certain rights which are denied to their firm as it is not registered.
Explain the consequences of non-registration of their firm.

Write a short note on WASME.

Small scale industrial units can be of different forms. State them.

Akshay is a shareholder in a company holding 2,000 shares of ₹10 each on which he has already paid ₹ 7 per share.
What will be his liability in the event of company's failure to pay debts? Give reason in support of your answer.

What are the advantages and disadvantages of preference shares?

Elaborate the four functions of business at enterprise level.

Give the differences between sole proprietorship and partnership.

Which hindrance of commerce is highlighted in the following activities?
i. It removes the geographical separation between producers and consumers.
ii. Warehousing facilitates holding of goods till they are required.
iii. Advertising informs the consumers about the goods and services available in the market.
iv. Trade provides an organised market where buyers and sellers can contact each other.
v. Banking and Financing Institutions provide necessary funds to carry on business activities.
vi. There exist a time gap between production and consumption of goods.
vii. Insurance protects the goods in case of damage due to theft, fire, accidents.