RBSE Class 12 Business Studies Board Paper 2018 English Medium

RBSE Class 12 Business Studies Board Paper 2018 English Medium are part of RBSE Class 12 Business Studies Board Model Papers. Here we have given Rajasthan RBSE Class 12 Business Studies Board Paper 2018 English Medium.

Board	RBSE
Textbook	SIERT, Rajasthan
Class	Class 12
Subject	Business Studies
Paper Set	Board Paper 2018
Category	RBSE Model Papers

Rajasthan RBSE Class 12 Business Studies Board Paper 2018 English Medium

Time: 3.15 Hours
Maximum Marks: 80

General Instructions to the Examinees

1. Candidate must write his/her Roll No. on the question paper compulsorily.
2. All the questions are compulsory.
3. Write the answer to each question in the given answer book only.
4. For questions having more than one part, the answers to those parts are to be written together in continuity.
5. If there is any error/difference/contradiction in Hindi & English versions of the question paper, the question of Hindi version should be treated valid.

6. Section	Q. Nos	Marks per question	Word limit of answer
   A	1-10	1	10 Words
   B	11-18	2	Half Page
   C	19-27	4	One page
   D	28-30	6	Three pages

7. Question Nos. 28,29 and 30 have internal choices.

SECTION – A

Question 1.
Who is the propounder of ‘management by services’? [1]

Question 2.
Mention one social objective of management. [1]

Question 3.
What do you mean by consideration in contract? [1]

Question 4.
“Valid considerations to legal contract is mandatory”. How? [1]

Question 5.
Mention one characteristic of entrepreneurship. [1]

Question 6.
“Entrepreneurship is the basis of economic development of the nation”. How? [1]

Question 7.
When did the “Pradhan Mantri Bima Yojna” start? [1]

Question 8.
What do you mean by “Under Insurance”? [1]

Question 9.
When did service tax start in India? [1]

Question 10.
In which year did the law of sales tax come into force for the first time in India? [1]

SECTION – B

Question 11.
Explain any two points of “Informational role” of management. [2]

Question 12.
As a professional manager, mention any two characteristics of professional management. [2]

Question 13.
What do you mean by purchase point advertisement? [2]

Question 14.
Explain the following [2]

1. Executed contract
2. Executory Contract.

Question 15.
Explain the “Fraudulent misinterpretation” in contract. [2]

Question 16.
In your opinion, is entrepreneurship a process of searching opportunity? How? [2]

Question 17.
“Insurance provides protection”. Do you agree with the statement? [2]

Question 18.
Mention any two characterstics of goods and services tax. [2]

SECTION – C

Question 19.
Explain the following principles propounded by Henry Fayol. [4]

1. Unity of command
2. Unity of Direction.

Question 20.
Mention any four assumptions of ‘X’ theory of motivation. [4]

Question 21.
Explain the importance of motivation on the basis of following points. [4]

1. Increase in job satisfaction.
2. Build good labour relations.

Question 22.
As a manager, mention any four social responsibilities towards government. [4]

Question 23.
Mention any two types of semi contract. [4]

Question 24.
Explain the importance of entrepreneurship on the basis of the following points. [4]

1. Promotes capital formation
2. Balanced economic development

Question 25.
Explain the ‘Fire Insurance on the basis of scope and kinds of insurance. [4]

Question 26.
As a manager, mention any four social responsibilities towards customers. [4]

Question 27.
Explain the following points.
1. Statement of sales.
2. Statement of Purchase. [4]

SECTION – D

Question 28.
Explain the decisional role of managers in management. [6]
OR
Explain any six functions of management.

Question 29.
In your opinion, explain the role of advertisement. [6]
OR
How will you explain the importance of marketing for nation?

Question 30.
Explain the legal provisions related with coercion in Contract Act. [6]
OR
Explain any six legal provisions related to void agreement in contract act.

Answers

Answer 1:
Peter. F. Drucker.

Answer 2:
To provide the security of employment.

Answer 3:
Consideration in contract is a value which one party returns to the other party in exchange for a promise or work.

Answer 4:
Valid considerations to legal contract is mandatory because an illegal consideration cannot build up a valid contract.

Answer 5:
Entrepreneurship is the process of pursuit of opportunities.

Answer 6:
A nation can never develop economically without entrepreneurship. Therefore, entrepreneurship is the basic pillar of economic development of a country.

Answer 7:
In the year 2015.

Answer 8:
When property is insured for less than its price, it is known as under insurance.

Answer 9:
Service tax started in India since 1 July, 1994.

Answer 10:
The law of sales tax came into force for the first time in India in the year 1956.

Answer 11:
Informational role of Management-In Informational roles, collection and distribution of various information, facts and knowledge is done by the managers. All managers maintain and develop information network by creating a network of interpersonal relations with others. Manager collects the information in the monitor’s role as per his usefulness and requirement and distributes and publishes it to his subordinates and related units, while in a spokesperson’s role, he transmits various types of information about the organization’s plans, policies and programs to external parties, i.e. customers, government, community, organizations through communication.

Answer 12:

1. A professional manager is dedicated to the professional knowledge and technology.
2. A professional manager uses modern managerial techniques.

Answer 13:
Purchase point advertisement is a mode of advertisement that refers to the vaulting and counter decoration of shops which attract customer’s interest and inspires them to enter the shops. In window display, the shelves are decorated in a charming manner. Veneer decoration is given the special importance in departmental stores, readymade garments, toys and saree stores. Under counter display, every item is placed in a manner which enables the customers to remind them of its requirement and they are inspired for more purchases.

Answer 14:

1. Executed contract- A contract in which both the parties have fulfilled their obligations under the contract.
2. Executory contract- A contract in which both the parties have to still fulfill their respective promises.

Answer 15:
According to section 17, fraud includes any of the following acts committed by a party to a contract, or with his connivance or by his agent with the intent to deceive or to induce a person to enter into a contract.
According to section 18, when a party causes, however innocently the other party to the agreement to make a mistake as to the substance of the thing which is the subject of agreement, it is called fraudulent misinterpretation.

Answer 16:
Yes, according to us, entrepreneurship is a process of searching opportunity in which an entrepreneur always searches for opportunities in the problems faced by man, their needs, aspirations, social and technical changes etc. and converts them into profit. For e.g., in an industrial area, there is no small hotel or restaurant for food and an entrepreneur finds an opportunity in this problem and opens a tiffin centre.

Answer 17:
The most important function of insurance is to provide safety and protection from chances of loss. In this a person who is insured or has the insurance is protected against the future risks and uncertainties. Therefore, we agree with the statement.

Answer 18:

1. This is a tax on supply of goods and services for consideration.
2. It will be imposed on each stage of sales.
3. GST is a destination based tax and levied at single point at the time of consumption of goods and services by the ultimate consumers.
4. The dual GST model will be used-Central GST to be collected by the central government and State GST to be collected by the state government.

Answer 19:

1. Unity Of Command- This principle states that each subordinate should receive orders from only one boss or superior.
2. Unity of direction- The principle of unity of direction states that there should be one head and one plan for the activities having same objectives.

Answer 20:

1. According to this theory, the average employee/human being inherently dislikes work and considers it is a burden and will avoid work, if possible.
2. An average employee is lazy in nature and thus he will avoid responsibility.
3. An average employee is relatively less ambitious and he lacks creativity.
4. Employees are inherently self-centred and indifferent to organizational activities.

Answer 21:

1. Increase in job satisfaction through motivation, by creating interest for doing work, an employees’ job satisfaction can be enhanced. A motivated employee utilizes his full energy on the tasks of the organization, therefore this increases job satisfaction.
2. Build good labour relations- A motivated employee neither takes unwanted leaves nor he thinks of leaving the organization. All this leads to better labour/industrial relations.

Answer 22:
Every manager is a corporate citizen, therefore he has some social responsibilities towards the government

1. To abide by the policies, rules and regulations framed by government.
2. To operate the business according to the government policies.
3. To make full use of production capacity in the business.
4. To use economic resources in national interest.

Answer 23:
Types of contract according to IC act Sec. 68-72-

1. Demand for fulfilling the needs of persons unable to come under a contact.
2. When a person pays waiver of his/her interest which is financially liable to the other party, then he is authorized to recover such payment.
3. Work done with a sense of desire but with a sense of duty.

Answer 24:
1. Promotes capital formation- When an entrepreneur uses his savings for investing it in his business, than he promotes his friends, family and acquaintances also for the same, as to invest their savings in the business. The general is also invited by the middlemen to invest in capital. According to Prof. Roger Nuskat, “Only business can play an important role in breaking the damaged fortress of capital in the developing countries and can also generate economic power in capital formation.

2. Balanced economic development-Economic inequality is found in different parts of the country, the reason of which is that the industries are not developing. Entrepreneurs help to remove regional disparities through setting up of industries and businesses in less developed areas and backward areas. According to Prof. Nurskey, “An entrepreneur paves the way for economic development.”

Answer 25:
A fire insurance is a contract to indemnify the insured for destruction of or damage to property caused by fire. The insurer undertakes to pay the amount of the insured’s loss, subject to the maximum amount stated in the policy. Fire Insurance policy is usually issued for one year. Perils covered under Fire Insurance other than loss by fire, include lightening, explosion, implosion, aircraft damage, riot, strike, malicious terrorism, storm, cyclone, tempest etc.

In modern days, Fire Insurance is gaining increasing importance. The risks of loss due to fire/accidents are increasing in factories, godowns, shops and residential areas.

Answer 26:
Customer is the king of the market. Customer’s satisfaction is the key to business success. The government protects the interests of customers, so any negligence in this regard can prove to be fatal to the business. Under these circumstances, the management has to fulfill some responsibilities towards them, which are as follows

1. To study about their needs, wants, tastes, likings etc.
2. To supply right quality and quantity of goods and services to consumers at reasonable prices.
3. To offer products of uniform standard.
4. To ensure fair distribution of products.

Answer 27:
1. Statement of sales (Section 25) – The information of the sales of goods/services made during a month is presented in this return. This is to be given within 10 days of end of the month. It includes invoice-wise details of outward supplies, sales at zero rate, interstate sales, purchase return, export to other countries, debit note, credit note etc. This information will be matched with the return presented by the buyer under Section 26, and in case of any discrepancy/ mismatch, chance to rectify the mistake will be given to the tax payer.

2. Statement of Purchase (Section 26)- It will contain all the details of purchases of goods and services on GST paid by the tax assess. The due date for filing GSTR-2 is 15th of the next month. The details filed under this return are matched with the return filed under section 25 by the seller, and any mismatch will impact input tax credit eligibility.

Answer 28:

1. Entrepreneurial Role- By this role, a manager identifies various opportunities, threats, strengths and weaknesses of organization and accordingly implements changes and corrective measures.
2. The Disturbance Handler Role- A manager takes decisions in response to unforeseen and non-routine problems and takes corrective actions needed to resolve important but unexpected disturbances, like strikes etc. He pays immediate attention to such problems and finds suitable remedies.
3. The Resource Allocation Role- A manager makes work plan or program of time management, and allocates resources like finance, raw materials etc. He fixes resource priorities for different departments.
4. The Negotiation Role- A manager, under this role, negotiates and settles the deal with other individuals or groups in order to benefit the organization. Top level management usually negotiates with trade unions, representatives etc.

OR
1. Planning- Planning means deciding in advance what is to be done in future. It is the process of seeking answers to some of the pre decided questions, like what is to be done, why it is to be done and how the work will be done? In the words of Nyles, “Planning is a sensitive process of developing and selecting the best working plans to achieve objectives.”

2. Organizing-Organizing is the process of developing a structure of relationships between human and physical factors and activities in an organization. It is related to identifying the work activities and division of work.

3. Direction- Through direction, a manager instructs, guides, motivates, leads and supervises the employees working in an organization. Through directing, he influences their behaviour and inspires them to work in a desired way, so that they may willingly extend their cooperation and contribution on achieving the goals.

4. Controlling- Controlling is the process of establishing the standard of performance and then comparing it to the actual ones, finding out deviations between actual and set performance, if any, and then taking corrective steps to remove significant variations. For that, managers have to lay down that what all activities and how much production is required to gain success, how and where it can be measured and who is authorized to take the corrective steps.

5. Co-ordination- Co-ordination is the art of harmonizing and unifying individual and group efforts for better actions and achievement of group goal. Co-ordination in the work of management is a creative and an enduring task. Because without proper coordination, the physical and human resources can never becomes productive. According to Messy, “Coordination is the result of proper implementation of other managerial tasks.”

6. Decision making- It is the process of selecting the best alternative out of available alternatives identified for doing a work. The managers have to take many decisions every day in favour of the organization. Therefore, Herbert Simon states that, “Management and decision making are synonymous to each other.”

Answer 29:

1. Information about New ProductsAdvertisement is very helpful in launching a new product and making it popular in the market. Advertisement persuades the consumers to buy the new product by identifying their needs.
2. Looking for New Customers. The main task of advertisement is to prepare the store for sale before the commodity arrives in the market and to identify the potential customers in the market and motivate them to buy the product. Therefore, advertisement persuades the customers to try the product and helps them in taking decision.
3. Correct knowledge for consumer products. There are different companies of similar products present in the market, by which customers get confused that which product is of their actual use and which is not. And other information like incentives, premium, quantity, gift coupons, discounts, etc. are offered through advertisement only.
4. Information about Price change – A producer can change his price for the customers; so that the buyers become comfortable and can easily buy the goods with changed prices.

OR
Importance of marketing for nation

1. Optimum use of Natural and Capital Resources- Marketing management creates form, time, place, possession and knowledge utility, therefore marketing helps in optimum utilization and distribution of all the natural and capital resources for the economic development of a country.
2. Balance in demand and supply-There is a reasonable balance between demand and supply by marketing management. And as a result of this, there is a reduction in economic slowdown, unemployment, poverty etc.
3. Helpful in procuring foreign exchange – Marketing helps the firms to enter into foreign markets with proper market research. Along with this, by improving cost and varieties, increasing the identity of the object in the market by exports, it also helps in procuring foreign exchange.
4. Increase in government revenueMarketing acts as a catalyst for various economic activities like production, distribution, exchange etc. It increases the level of production, sales, savings etc. Thus, through direct and indirect taxes, government revenue also increases.

Answer 30:
Any unlawful detaining of property, threat to shoot, murder etc. is called coercion. Coercion is committing or threatening to commit any act forbidden by the Indian Penal Code or the unlawful detaining or threatening to detain any property, to the prejudice of any person, what so ever, with the intention of forcing any person to enter in an agreement.
Legal Rules As To Coercion Are

1. Any unlawful detaining of property, threat to shoot, murder etc. is called coercion.
2. Coercion is committing or threatening to commit any act forbidden by the Indian Penal Code or the unlawful detaining or threatening to detain any property, to the prejudice of any person, What so ever, with the intention of forcing any person to enter in an agreement.
3. The purpose of coercion is to threaten or force a person to do something.
4. Coercion can be directed against the other contracting party or his relatives and friends.
5. It is immaterial whether the IPC is in force or not in the place where coercion is committed.
6. Threat of strike by the employees is not considered as coercion.

OR
Six legal provisions related with void agreement in contract Act:
Any agreement not enforceable by the law is called as void agreement. Such agreements do not create any legal obligation between the parties and are void. The Contract Act specifically declares certain agreements to be void, which are as follows

1. Every person is liable to enter into a contract, who is mature according to the respective states, be of a healthy mind, by the rule of any law which it is subjected to, has not been disqualified for the contract, meaning, unqualified parties to contract (minor, lunatics, persons disqualified by law).
2. Any agreement with a bilateral mistake is void. When both the parties to an agreement are under a mistake as to matter of fact essential to agreement, the agreement is void.
3. Agreements which have unlawful consideration and objects are void. An agreement is considered unlawful if it is forbidden by law.
4. Agreement in restraint of marriage of any major person is void. General or partial, all types of restraints are included in this.
5. Agreement in restraint of trade is void. Every agreement by which anyone is restrained from exercising a lawful profession, or trade or business of any kind, is to that extent void.
6. Agreement in restraint of legal proceedings is void. An agreement purporting to oust the jurisdiction of the courts is illegal and void on grounds of public policy.

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