NIOS Free Solved Assignments (2020 - 2021) | BUSINESS STUDIES 215 | ENGLISH MEDIUM TMA SECONDARY

Business Studies (215)

SECONDARY COURSE

Tutor Marked Assignment (TMA)

NIOS FREE SOLVED ASSIGNMENTS

Max. Marks: 20

Note:

(i) All questions are compulsory. The marks allotted for each question are given beside the questions.

(ii) A Write your name enrollment numbers, AI name subject on the top of the first page of the answer sheet.

1. Answer any one out of the following questions in about 40-60 words:

(a) Discuss the role of India in preventing environmental pollution. (See Lesson 1)

Ans: To preserve the society it is important to protect the environment. And, therefore, every business in any country must take measures to protect the environment rather than damaging it. India, as a global leader plays a significant role of prevention of environmental pollution. PM Modi himself raises his concern over global warming in many international meet. Government of India framed various rules and regulation to control environmental pollution. Every business must follow the regulations laid down by government to control environmental pollution. Government of India also started various awareness programmes for both the employees as well as the general public to aware about the causes and consequences of environmental pollution so that they voluntarily try to protect rather than damage the environment. For example, business can undertake public awareness programmes. Now-a-days, we find that some business houses have taken the responsibility to develop and maintain parks and gardens in cities and towns, which shows that they care for the environment.

(b) As a businessman, state the different types of activities you would undertake in your day to day running of your business. (See Lesson 2)

Ans: All the activities conducted by businessman are known as economic activities. Economic activities are those that are concerned with production, exchange and distribution of goods and rendering of services to earn money.

Business activities are further classified into three categories. Classification of Business Activities:

a)      Industry

b)      Commerce

c)       Trade

a)      Industry: It includes production or processing of goods and services. It is concerned with changing the form of the products. It gives form utility to the products.                           

b)      Commerce: It includes all those activities which are concerned with removing all the hindrances in the movement of goods from the manufacturer to the consumers. It includes trade and auxiliaries to trade.

c)       Trade: Trade means exchange of goods and services between sellers and buyers with profit motive.

 2. Answer any one out of the following questions in about 40 to 60 words.

(a) Sole proprietorship business is easy to form and wind up. Can a sole proprietorship form of business organisation exist forever? (See Lesson 3)

Ans: A sole proprietorship form of business is very easy to form. With a very small amount of capital one can start the business. Legal formalities are minimum just like formation; it is also very easy to wind up the business. It is the owners, sole discretion to form or wind up the business at any time. But, the existence of sole proprietorship depends on the owner. The business may come to an end as and when the sole proprietor so decides or in the event of his death.

(b) The movement of goods and persons is very important in business. In light of the statement discuss the importance of transport in business. (See Lesson 5)

Ans: Transport removes the distance barrier. Because of it, now-a-days goods produced at one place are readily available at distant places and people move freely throughout the world. Without transport, we as well as business units cannot move a single step. Followings are the points of importance of transport.

1.       Makes raw materials available to manufacturers or producers: Transport makes it possible to carry raw materials from places where they are available to places where they are to be processed and assembled into semi-finished or finished goods.

2.       Makes goods available to customers: Transport makes movement of finished goods possible from one place to another with great ease and speed. Thus, consumers spread in different locations of the country have the advantage of consuming goods produced at distant places.

3.       Enhances standard of living: Transport gives consumers the choice to make use of different qualities of goods of different prices. So it raises the standard of living of the people.

4.       Facilitates large-scale production at low costs: We know, large scale production is not always possible at the place of our choice since it needs huge infrastructure particularly land which is not easily available everywhere. But, transport makes large scale production possible by making all required materials and manpower available at the place finally selected for manufacturing

5.       Helps during emergencies and natural calamities: In times of national crisis, due to war or internal disturbance, transport helps in quick movement of troops and the supplies needed in the operation.

3. Answer any one out of the following questions in about 40 to 60 words.

(a) "E-mail is the fastest method of transmitting written messages". Explain. (See Lesson 7)

Ans: E-mail also termed as electronic mail is a short process of communicating written messages on computer through electronic media i.e. Internet. It is the fastest mode of communication of message online. Even large message to a wide group can be sent easily only on a click of mouse. The immediate presence of recipient of message is not necessary. Emails are stored permanently in mail box and can be view in future period of time. It is also very cheap as compared to other mode of transmitting written messages.

(b) Warehousing is one of the important auxiliaries to trade. Explain this statement. (See Lesson 6)

Ans: Warehousing: Warehousing means retaining the goods for future use. It implies holding or preservation of goods from time of their production or purchase until their consumption or sale. The warehousing service plays an important role in supply and distribution of goods after their manufacture.

Need and importance of warehousing in modern business:

a)      To store excess production in anticipation of demand 

b)      To store goods those are produced seasonally 

c)       To store goods those have seasonal demand

d)      Stability in prices

e)      Storage of raw materials 

f)       Basis of Trade 

g)      Processing, curing and packaging of goods.

 4. Answer any one of the following questions in about 100-150 words.

(a) On the basis of ownership companies can be of four types. Discuss the characteristics of these different types of companies. (See Lesson-4)

Ans: On the basis of ownership companies can be of four different types - Private Limited Company, Public Limited Company and Government Company and Multinational Company.

1. Private company: According to Sec 2(68) of the Companies Act, 2013, A private company means a company which has the following features:

a) Who by its Articles restricts the right to transfer its shares, if any.

b) Except in case of one person company, limits the number of its members to 200 not including its employee-members.

c) Prohibits any invitation to the public to subscribe for any shares or debentures of the company.

2. Public company: A public company means a company which is not a private company. It has following features:

(a) Its shares can be transferred freely.

(b) Whose members have limited liability.

(c) The number of shareholders can be up to the number of issued and subscribed shares or even more but the minimum number should not be less than seven.

3. Government Company: According to The Indian Companies Act, 2013, a government company is a company in which not less than 51% of the paid up capital is held by the central or state government or both.

Features of a government company

1)      It is created by the Indian Companies Act, 2013.

2)      It is having a separate legal identity.

3)      Its employees are appointed according to the rules contained in the Memorandum and Articles of Association of the company.

4)      It is exempted from the accounting and audit rules and procedures.

4. Multinational Company: Global Enterprises/Multinational Companies: A global enterprise is one which owns and manages business in two or more countries. E.g.: Unilever Ltd, Coca cola, LG, Samsung, Hyundai Motors, Proctor and Gamble, etc.

Features of multinational company

1)      A global enterprise has huge capital resources.

2)      It operates through a network of subsidiaries, branches and affiliates in host countries

3)      It uses advanced technology to provide world class products and services.

(b) State the characteristics of Public Provident Fund Account. (See Lesson-8)

Ans: Public Provident Fund (PPF): This is a scheme under Public Provident Fund Act 1968. In this scheme even self-employed persons can make a contribution. Features of this scheme are listed:

a)      The minimum contribution is Rs.500 per annum and the maximum contribution is Rs.1, 00,000 per annum.

b)      The contribution made along with interest earned is repayable after 15 years, unless extended.

c)       Individuals can open this account in their own name or in the name of their minor child.

d)      In this account at least one deposit is required in every year.

e)      The deposit amount gets rebate under income tax and the interest income is fully tax-free.

5. Answer any one of the following questions in about 100-150 words.

(a) Explain the recent developments in the field of banking and the latest facilities offered to its customers. (See Lesson 9)

Ans: Recent Developments in the field of banking and the latest facilities offered to it’s by banks are listed below:

1.       Centralized Banking Solution (CBS) = CBS, an inter-branch networking and data-sharing platform helps the customers to operate their account from any city in India having CBS networked branches, changing the status of customer from ‘Customer of the Branch’ to ‘Customer of the Bank’.

2.       Online Tax Payment = Banks provide the facility of online payment of service tax, excise duty, DGFT, Custom duty and all charges under MCA 21 through internet banking.

3.       Corporate Internet Banking = Online funds transfer, trade finance management, fund management, global access with unmatched benefits through banks’ corporate internet banking.

4.       Online Shopping = This service facilitates the customers to book hotels, buy gifts, send flowers, buy books and lot of activities by making payments online.

5.       Retail Internet Banking = Internet Banking assists the customers to have an online assess to bank account anytime and anywhere.

6.       Foreign Exchange = Banks have several branches authorized for handling foreign exchange business and these branches.

7.       E-Money India = Internet banking helps the customer in sending money to their loved ones in India through PNB’s e-Money India service.

8.       Online Railway Reservation = Say goodbye to long queues. Banks offer the customers online booking and information through IRCTC payment gateway. Just click and travel comfortably.

9.       Depository Service = Banks Depository service provides the facility of having shares and securities in Demat form and executes transactions of sales and purchase hassle free electronically to the customers through internet banking.

10.   Electronic Clearing Service and Electronic Funds Transfer (EFT) = Internet banking assists the customers in electronic clearing service for quick movement of funds in a paperless mode and EFT to ensure an expeditious transfer of funds by using electronic media.

(b) A warehouse is said to be an ideal warehouse if it possesses certain characteristics'. Explain. (See Lesson 6)

Ans: A warehouse is said be an ideal warehouse if it possesses certain characteristics, which are given below:

1)      Warehouse should be located at a convenient place near highways, railway stations, airports and seaports where goods can be loaded and unloaded easily.

2)      Mechanical appliances should be there for loading and unloading the goods. This reduces the wastages in handling and also minimizes handling costs.

3)      Adequate space should be available inside the building to keep the goods in proper order.

4)      Warehouses meant for preservation of perishable items like fruits, vegetables, ‘eggs and butter etc. should have cold storage facilities.

5)      Proper arrangements should be there to protect the goods from sunlight, rain, wind, dust, moisture, pests etc.

6)      Sufficient parking space should be there inside the premises to facilitate easy and quick loading and unloading of goods.

7)      Round the clock security arrangements should be there to avoid theft of goods. viii. The building should be fitted with latest fire-fighting equipments to avoid loss of goods due to fire.

6. Prepare any one project out of the following projects given below.

(a) Visit a nearby bank, else call on toll free number and enquire the procedure to open a savings bank account. Make a report. (See Lesson-9)

Ans: As a student, I want to open a bank account so that I can save my pocket for future. For this purpose I have visited State Bank of India branch which is very near to my house. I have passed through the following processes while opening my bank account:

1. Selection of type of account: The first step is to select the type of account to be opened. An account may have several types such as current, saving fixed account. An account can be opened jointly or singly.

2. Selection of bank and branch: The prospective accountholder should now select the bank.

3. Obtaining the account opening form: An account opening form is obtained from the bank. It should be read carefully and filled in with utmost care.

4. Obtaining the reference: One or two reference is obtained by the prospective account holder. The people who give references sign the form and give their account no. and name and address.

5. Submission of the form: Now the form should be submitted along with the required documents. These documents vary from account to account.

6. Giving specimen signature: Now, the account holder signs on a card called specimen signature card. These signatures are matched with the cheques of the account holder.

7. Making initial deposit: The applicant is allotted an account and asked to make initial deposit in his account through a deposit slip.

8. Account is opened: As soon as the initial deposit is made, the account is opened.

(b) Visit a cooperative society in your locality. Make a report on the activities undertaken, challenges faced and number of members in the society. (See Lesson-5)

Ans: In my locality, a very reputed consumer co-operative society is doing its activities. There are total 17 members in that society and they mainly provides general use goods to its members at a much discounted prices as compared to market. Though the society is very reputed and doing its activities smoothly, it is facing too many problems some of them are listed below:

1.       Lack of Motive: The members do not work with full zeal and devotion as there is no profit motive.

2.       Limited Capital: The amount of capital that a cooperative society can raise from its member is very limited because the membership is generally confined to a particular section of the society.

3.       Problems in Management: The management of a cooperative may not be particularly competent, because a cooperative generally offers only low scales of remuneration to the staff employed.

4.       Lack of Commitment: The success of a cooperative depends on the loyalty of its members, something that is neither assured nor can be enforced.

5.       Lack of Co-operation: The co-operative societies are established with the objective of mutual co-operation. But it is generally seen that there is a lot of friction between the members because of personality differences, ego clash, etc. The selfish attitude of members may sometimes being an end to the society.