ISC Commerce 2013 Class-12 Previous Year Question Papers

ISC Commerce 2013 Class-12 Previous Year Question Papers Solved for practice. Step by step Solutions with Questions of Part-1 and Part-2. By the practice of Commerce 2013 Class-12 Solved Previous Year Question Paper you can get the idea of solving.

Try Also other year except ISC Commerce 2013 Class-12 Solved Question Paper of Previous  Year for more practice. Because only ISC Commerce 2013 Class-12 is not enough for complete preparation of next council exam. Visit official website CISCE for  detail information about ISC Class-12 Commerce.

ISC Commerce 2013 Class-12 Previous Year Question Papers Solved


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Part-I

 Part-II


Maximum Marks: 80
Time allowed: Three hours

  • Candidates are allowed additional 15 minutes for only reading the paper. They must NOT start
    writing during this time.
  • Answer Question 1 from Part I and seven questions from Part II.
  • The intended marks for questions are given in brackets [ ].

Part – I (20 Marks)

Answer all questions.

ISC Commerce 2013 Class-12 Previous Year Question Papers Solved

Question 1.
Answ er briefly each of the questions (i) to (xv): [15 × 2]
(i) Define a Public Limited Company.
(ii) What is meant by Discounting of a Bill?
(iii) Give two disadvantages of written communication.
(iv) Define the term market.
(v) Give the significance of Association Clause of the Memorandum of Association.
(vi) Give any two factors that influence the price determination of a product.
(vii) What is meant by Cumulative Preference Shares?
(viii) Explain Joint Ventrue in relation to multinational corporations.
(ix) State any two differences between savings deposit and fixed deposit.
(x) Mention the steps involved in the organising function of management.
(xi) State any two features of ‘labelling’ in relation to marketing.
(xii) What is Certificate of Commencement?
(xiii) What is Economic and Non-economic environment of business?
(xiii) Expand the terms:
(a) AIDCAM
(b) EXIM Bank
(xiv) Explain management as a group.
Answer 1:
(i) Out of syllabus

(ii) While discounting a bill, the Bank buys the bill (i.e. Bill of Exchange or Promissory Note) before it is due and credits the value of the bill after a discount charge to the customer’s account. The transaction is practically an advance against the security of the bill and the discount represents the interest on the advance from the date of purchase of the bill until it is due for payment.

(iii) Out of Syllabus

(iv) A market is any place where the sellers of a particular good or service can meet with the buyers of that goods and service where there is a potential for a transaction to take place. The buyers must have something they can offer in exchange for there to be a potential transaction.

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(v) Out of syllabus

(vi) Factors determining the price of a product are:
(a) Cost:
While fixing the prices of a product, the firm should consider the cost involved in producing the product. This cost includes both the variable and fixed costs. Thus, while fixing the prices, the firm must be able to recover both the variable and fixed costs.
Competition:
While fixing the price of the product, the firm needs to study the degree of competition in the market. If there is high competition, the prices may be kept low to effectively face the competition, and if competition is low, the prices may be kept high.

(vii) Cumulative preference shares are those preference shares which earn the right to receive arrears of dividend before a dividend is paid to the equity shareholders.
For example, a company has 10,000. 8% of preference shares of ₹ 100 each and dividend for the years 20013-2014 which has not been paid up.
Now the company has earned sufficient profits in 2015. Now the company shall pay ₹ 2,40,000 as a dividend for three years to the preference shareholders.

(viii) Out of syllabus

(ix) Out of Syllabus

(x) Steps in organization function of management:
Identification and classification of required activities
Grouping of activities necessary for the attainment of objectives
Assigning each group to a manager with the authority (delegation) necessary to supervise it. The provision for coordination horizontally (on the same organizational level) and vertically (in various division and departments)

(xi)

(a) Labelling gives definiteness to the product and therefore identification of a product is easy.
(b) It stresses the standard and other special features of the product which are advertised.
(c) It enables to give clear instructions to the consumer as to the proper use of a product.

(xii) Out of syllabus

(xiii) The economic environment of business has reference to the broad characteristics of the economic system in which the business firm operates. The economic environment of the country includes economic system, macroeconomic parameters, and stages of the business cycle, financial system and economic policies of the government.
The non-economic environment includes political system, government policies, legal framework social system, cultural values, demographic factors, technological development and natural environment of the country.
The non-economic environment exercises a strong influence on the business. Normally the non-economic environmental factors are the key factors for all kinds of business activities in India.

(xiv) Out of Syllabus

(xv) Management as a group refers to all those persons who perform the task of managing an enterprise. As a group, management will include all managers from the chief executive to the first-line managers (lower-level managers). But in common practice management includes only top management i.e. Chief Executive, Chairman, General Manager, Board of Directors etc. In other words, those who are concerned with making important decisions, these persons enjoy the authorities to use resources to accomplish organizational objectives & also a responsibility for their efficient utilization.


Part – II (60 Marks)
Answer any five questions

ISC Commerce 2013 Class-12 Previous Year Question Papers Solved

Question 2.
(a) Explain any four advantages that host countries derive from multinational corporations. [4] (b) Discuss any six privileges enjoyed by a Private Limited company. [6] Answer 2:
(a) Out of Syllabus
(b) Out of Syllabus

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Question 3.    (ISC Commerce 2013 Class-12)
(a) Why should business assume social responsibilities ? Give any four reasons in support of your answer. [4] (b) Discuss any six responsibilities of a business concern towards the consumers. [6] Answer 3:
(a) Out of Syllabus
(b) Out of Syllabus

Question 4.    (ISC Commerce 2013 Class-12)
(a) Distinguish between bonus shares and right-shares. [4|
(b) Define debentures. Describe any four types of debentures. [6] Answer 4:
(a)

Bonus Shares Right Shares
1. Bonus shares are issued free of cost to the existing shareholders in proportion to their holdings. 1. These shares are issued at a price.
2. These shares are fully paid. 2. These shares may be partly paid also.
3. Bonus issues are generally issued by profit-making companies by capitalizing the free reserves. 3. These are issued at a price. The price offered are usually discounted from the trading price, that is the benefit to existing shareholders.
4. A shareholder cannot renounce the offer. 4. A shareholder may renounce all or a part of the offer.

(b) A debenture is a medium or long term debt format that large companies use to borrow money. It is normally a loan that should be repaid on a specific date, but some debentures are irredeemable securities (sometimes referred to as perpetual debentures).
The majority of debentures come with a fixed interest rate. This interest must be paid before dividends are paid to shareholders.

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