Commercial Studies Specimen 2024: Sec-A Solved for ICSE Sample Paper

Commercial Studies Specimen 2024: Sec-A Solved for ICSE Sample Paper. All Question with Answers of First Part by Expert Teachers. Students of Class X who are preparing for Board Exam 2024 can solved here History and Civics Sample Paper. Visit official website CISCE for detail information about ICSE Board Class-10

Commercial Studies Specimen 2024: Sec-A Solved for ICSE Sample Paper

Board	ICSE
Class	10th (x)
Subject	Commercial Studies
Topic	Specimen Paper Solved
Sec	A (MCQs)
Session	2023-24
Max mark	80

Sec-A Commercial Studies

ICSE 2024  SPECIMEN QUESTION PAPER

Question 1 Choose the correct answers to the questions from the given options. (Do not copy the question, write the correct answers only.)

(i) The main expectation of a Creditor is:

(a) Regular payment of interest according to credit terms √
(b) Prompt payment of all the taxes
(c) To Contribute to research and development
(d) To ensure regular supply of goods

(ii) Maya had purchased a washing machine which stopped working after two weeks. She lodged a complaint with the company but to no avail. Which consumer right is being violated in this case?

(a) Right to safety
(b) Right to be informed
(c) Right consumer education
(d) Right to seek redressal  √

(iii) Distribution of free samples, price contests, clearance sales, etc. are examples of:

(a) Consumer exploitation
(b) Capital receipts
(c) Sales promotion techniques  √
(d) Functions of the Central Bank

(iv) A module of ERP which manages the flow of products from manufacturer to consumer and consumer to manufacturer is the:

(a) Supply chain module  √
(b) Customer relationship module
(c) Sales module
(d) Purchase module

(v) ‘X’ pays Rs. 60 for one Kg of mangoes. The fruit vendor gives him 900 g of mangoes. Identify what has happened.

(a) Consumer protection
(b) Consumer exploitation  √
(c) Consumer awareness
(d) Consumer rights

(vi) Which of the following is NOT considered as a Consumer Right?

(a) Right to freedom of speech  √
(b) Right to consumer education
(c) Right to be informed
(d) Right to safety

(vii) Heavy expenditure on advertisement is classified as:

(a) Miscellaneous Expenditure
(b) Revenue Expenditure
(c) Deferred Revenue Expenditure   √
(d) Capital Expenditure

(viii) When the CEO of a company retires the Sales Manager is given her place. Identify which of the following will be true in this context.

1. The Sales Manager is being transferred
2. The Sales Manager will be getting a higher salary
3. The Sales Manager is getting promoted.
4. The Sales Manager will be getting the same salary.

(a) 1. and 2. are true
(b) 3. and 4. are true
(c) 2. and 3. are true
(d) 2. and 4. are true  √

(ix) On the basis of the information given identify the account.
1. It contains items of revenue nature only.
2. It is prepared to ascertain the Gross profit or the Gross loss.

(a) Trading account  √
(b) Purchase account
(c) Sales account
(d) Profit and loss account

(x) Which of the following banks regulate the supply of money in the economy?

(a) Commercial banks
(b) Indigenous banks
(c) Central bank  √
(d) Exchange banks

(xi) Individuals who are hired to do a specific job are known as:

(a) Society
(b) Government
(c) Employers
(d) Employees   √

(xii) A __________ is an establishment for storage or accumulation of goods.

(a) Bank
(b) Warehouse  √
(c) Budget
(d) Forecast

(xiii) The RBI settles claims of other commercial banks by a process of book entries. It helps to stabilize the banking system in the economy. Which function of the Central bank is explained here.

(a) Monopoly of note issue
(b) Government’s bank
(c) Clearing house function  √
(d) Developmental function

(xiv) _________ is an example of a Sales Promotion technique.

(a) Free samples  √
(b) Pricing
(c) Marketing
(d) Banking

(xv) Imagine you are an accountant of Shah & Company. You have to pass an entry of interest received by the company. What will be the accounting treatment?

(a) Asset side of balance sheet  √
(b) Liability side of balance sheet
(c) Credit side of trading a/c
(d) Credit side of profit and loss a/c

(xvi) Identify the principal of insurance based on the given information.

1. The insured must be benefitted by the existence of the insured subject and suffer a loss by its destruction.
2. It is the financial interest of the insured in the subject matter of
insurance.

(a) Indemnity
(b) Insurable interest  √
(c) Utmost good faith
(d) Mitigation of loss

Question 2 Distinguish between:

(i) Debit card and Credit card 

Ans:- Debit cards allow you to spend money by drawing on funds you have deposited at the bank. Credit cards allow you to borrow money from the card issuer up to a certain limit to purchase items or withdraw cash. You probably have at least one credit card and one debit card in your wallet.

(ii) Advertising and Sales promotion 

Ans:- Advertising is a one-way communication whose purpose is to inform potential customers about products and services and how to obtain them. Promotion involves disseminating information about a product, product line, brand, or company. It is one of the four key aspects of the marketing mix

(iii) Central and Commercial banks 

Ans:- Central bank can be called the apex bank, which is responsible for formulating the monetary policy of an economy. Commercial banks, on the other hand, are those banks that help in the flow of money in an economy by providing deposit and credit facilities

(iv) Capital and Revenue Receipts

Capital receipts are the receipts that derive their value from the capital. In general, all bought assets are capital and the money paid to acquire such assets is known as capital receipts. Revenue receipts are the receipts that derive their value from the operational activities of the business.

Question 3

(i) An association is formed by persons in an industry to protect and promote the interests of the workers. Identify the above and explain any one function that it performs.

Ans:-

(ii) What is Recruitment?

Ans:- Recruitment is the process of actively seeking out, finding and hiring candidates for a specific position or job. The recruitment definition includes the entire hiring process, from inception to the individual recruit’s integration into the company

(iii) What do you mean by Pricing?

Ans:- Pricing is a process of fixing the value that a manufacturer will receive in the exchange of services and goods. Pricing method is exercised to adjust the cost of the producer’s offerings suitable to both the manufacturer and the customer.

(iv) There are people who provide jobs to others. Identify them and give one expectation that they may have from a commercial organisation.

Ans:- In the modern business landscape, employees expect to be treated with respect, to be paid equitably, to trust and be trusted by the people they work with, to feel job security, and to have opportunities to use their skills and abilities in their work.

Question 4

(i) What is E-advertising?

Ans:- E-advertising, or electronic advertising, refers to the promotion of products or services through various digital channels such as social media

(ii) Explain in brief the principle of subrogation.

Ans:- Principle of subrogation means surrender of the legal right to receive compensation or salvage the damages in the favour of the insurer. This principle works in the following scenarios: a) A third party causes the insured loss. b) Certain goods were lost which can be recovered later.

(iii) How does modern advertising exert a corrupting influence on society?

Ans:- he media has been corrupting our societies for countless years, and nothing is done about it. Analyzes how media corruption has a negative effect on people’s

(iv) What is Discounting of a bill of exchange?

Ans:- Discounting of the bill refers to the encashment of the bill before the date of its maturity. The bank deducts its charges from the bill. The bank shall make the payment of the bill after deducting some interest (called a discount in this case)

–: Visit also :–

Return to : ICSE Specimen Paper 2024 Solved

Thanks