EMRS PGT Commerce – 2023 Question Pattern Analysis
| S. No | Subject | No. of MCQs | S. No | Subject | No. of MCQs |
| 1 | Financial Accounting | 26 | 2 | Corporate Accounting | 7 |
| 3 | Business Studies & International Business | 20 | 4 | Finance & Banking | 7 |
| 5 | Business Management | 10 | 6 | Experiential Activity-Based Pedagogy and Case Study-Based Questions | 5 |
| 7 | National Education Policy (NEP) 2020 | 5 | |||
| Total No. of Subject Specific Questions = 70; Experiential Activity-Based Pedagogy and Case Study-Based Questions = 5 and National Education Policy (NEP) 2020 | |||||
Financial Accounting
- Raju, Jagbir and Devender are the partners sharing profits in the ratio of 7:5:4. Devender retires on June 30, 2022. It was decided to value the goodwill on the basis of three year’s Purchase of the average profits of last five years, which are 59,200; 57,400; 57,800; 48,000 and 53,600.
Devender’s share of goodwill will be:
(a) Rs. 55,400
(b) Rs. 1,65,600
(c) Rs. 54,000
(d) Rs. 41,400 - X and Y are partners sharing profits and losses in the ratio of 3:2. X’s capital is Rs.60,000 and Y’s capital is Rs.30,000 before adjusting revaluation loss of Rs.14,000 and General Reserve of Rs.24,000. They admitted Z and agreed to give him 1/5 share of profits, Z will bring proportionate capital. Calculate his capital.
(a) Rs. 29,000
(b) Rs.22,500
(c) Rs.25,000
(d) Rs. 24,000 - A firm started its business on April 1, 2021. Accounting information provided by the firm for the year 2021-22 is as under:
Purchases: Rs.1,80,000
Carriage: Rs. 12,000
Closing Stock: Rs. 24,000
Sales: Rs. 2,40,000
Calculate the Gross profit for the year 2021-22:
(a) Rs.60,000
(b) Rs. 84,000
(c) Rs.76,000
(d) Rs.72,000 - Anil, Bijender and Charu are equal partners in a firm having capitals of Rs.60,000; Rs.40,000 and Rs.20,000 respectively on March 31, 2022. On the same day Bijender retires and took away an unrecorded computer for Rs.12,000. Calculate the balance amount shall be paid to Bijender on his retirement.
(a) Rs.40,000
(b) Rs.52,000
(c) Rs.56,000
(d) Rs. 32,000 - A, B and C are partners sharing profit and losses in the ratio of 3:2:1. B retires and acquires Rs.40,000 from A and Rs.24,000 from C’s his share of goodwill. New profit sharing ratio of A and C will be.
(a) 17:7
(b) 9:4
(c) 19:9
(d) 8:3 - Creditors are Rs.50,000 in the Balance Sheet of a partnership firm. Creditors worth Rs.10,000 agreed to accept an unrecorded asset of Rs. 8,000 in full settlement and remaining creditors agreed to accept 5% less amount. Calculate the amount will be paid to creditors at the time of dissolution of the firm ?
(a) Rs. 47,500
(b) Rs. 38,000
(c) Rs. 35,550
(d) Rs 57,000 - Which of the following account has a credit balance?
(a) Carriage Inward
(b) Carriage Outward
(c) Return Outward
(d) Return Inward - Which convention of Accounting implies that the Accounting practices should remain the same from year-to-year?
(a) Consistency
(c) Disclosure
(b) Conservatism
(d) Materiality - A business transaction affects:
(a) At least two Accounts
(b) Maximum three Accounts
(c) Maximum two Accounts
(d) At least three Accounts - Provision for Bad Debts’ is made due to the principle of:
(a) Full Disclosure
(b) Materiality
(c) Consistency
(d) Conservatism - Farzana started a business on April 1, 2021 with capital of Rs.90,000. During the year 2021-22, she withdraws Rs.28,000 for her personal use. Interest on capital and interest on drawings are Rs. 4,000 and Rs. 10,000 respectively. Profit for the year is Rs. 30,000. Her capital as on March 31, 2022 is:
(a) Rs.94,000
(b) Rs. 86,000
(c) Rs.1,38,000
(d) Rs. 1,34,000 - A and B share profits and losses in the ratio of 6:4. They admit C for 1/6th share in profit.
The new profit sharing ratio will be:
(a) 3:2:3
(b) 3:2:2
(c) 4:1:1
(d) 3:2:1 - In the absence of Partnership Deed, the rate of interest on capital will be:
(a) No interest
(b) 6%
(c) 7%
(d) 5% - Sale of Old Machinery’ is credited to Sales Account. Identify the type of error, if any.
(a) Error of Principle
(b) Error of Omission
(c) Error of Commission
(d) No error - Which method will show highest value of closing stock in inflationary conditions?
(a) Average Cost Method
(b) LIFO Method
(c) Weighted Average Cost Method
(d) FIFO Method - The debts written off as bad, if recovered subsequently, are:
(a) Debited to Bad Debts account
(b) Credited to Debtors Account
(c) Debited to Profit & Loss Account
(d) Credited to Bad Debts Recovered A/c - The amount payable to the retiring partner on account of ‘Adjustment of Goodwill’ is debited to the capital accounts of continuing partners in their:
(a) Profit Sharing Ratio
(b) Sacrificing Ratio
(c) Gaining Ratio
(d) Capital Ratio - Which of the following accounts will have a credit balance?
(a) Carriage Outward
(b) Bills Receivable
(c) Rent Outstanding
(d) Purchases - Additional capital, brought in by the proprietor, is an example of:
(a) Increase in Asset and Decrease in Liability
(b) Increase in one Asset and Decrease in another Asset
(c) Increase in Liability and Decrease in Asset
(d) Increase in Asset and Increase in Liability - Which of the following errors affect the Trial Balance?
(a) Errors of Partial omission
(b) Errors of Complete omission
(c) Compensating Errors
(d) Errors of Principle - Cost of Goods sold: Rs.1,61,400
Opening Stock: Rs.11,600
Closing Stock: Rs.12,000
The amount of purchase will be:
(a) Rs.1,49,800
(b) Rs. 1,49,400
(c) Rs.1,61,800
(d) Rs.1,61,000 - First of all, ‘Double Entry System of Accounting was introduced in
(a) England
(b) America
(c) Italy
(d) India - Which of the following is the ‘Accounting Equation?
(a) Capital Liabilities + Assets
(b) Capital Liabilities – Assets
(c) Liabilities Assets – Capital
(d) Assets Capital – Liabilities - Shekhar draws a bill on Vijay on June 15, 2022 for Rs.40,000 for 3 months. The bill is discounted with bank at a charge of Rs.200. Bill is dishonoured at maturity. In the books of Shekhar, for dishonour, the bank account will be credited by:
(a) Rs.40,000
(b) Rs.40,200
(c) Rs.39,600
(d) Rs.39,800 - Balance of Tournament Fund” as on March 31, 2021: Rs.2,40,000
(i) Donations received for Tournament during the year 2021-22: Rs.48,000
(ii) Expenditure incurred on Tournament during the year 2021-22: Rs.54,400
(iii) Interest received on Tournament Fund Investments during the year 2021-22: Rs.19,200
Calculate the amount of Tournament Fund which will be shown in the Balance sheet as at March 31, 2022
(a) Rs.2,32,000
(b) Rs.2,88,000
(c) Rs.2,52,800
(d) Rs.2,94,400 - Income and Expenditure Account is prepared by ‘Not-for-Profit organizations’ on:
(a) Accrual Basis
(b) Cash Basis
(c) Accrual Cum Cash Basis
(d) Receipt Basis
Corporate Accounting
- Tara Motors limited’ purchased Machinery from ‘Usha and company’ for Rs.4,00,000. The consideration was paid by issue of 8% Debentures of Rs.100 each at a discount of 20% the Debentures Account will be credited with:
(a) Rs.5,00,000
(b) Rs.4,80,000
(c) Rs.3,20,000
(d) Rs.5,20,000 - Discount on the re-issue of forfeited shares cannot exceed:
(a) 10% of the paid up Capital
(b) The amount received on forfeited shares
(c) 10% of the Capital to be re-issued
(d) The amount not received on forfeited shares - If 10% Debentures of Rs. 1,60,000 are issued to vendors in consideration of net assets of Rs.2,00,000; the balance of Rs.40,000 will be credited to:
(a) Reserve Capital
(b) Goodwill
(c) Capital Reserve
(d) General Reserve - That portion of the share capital which cannot be called up, except on the winding up of company, is known as:
(a) Called-up Capital
(c) Paid-up Capital
(c) Reserve Capital
(d) Capital Reserve - Securities Premium Reserve can be used for:
(a) The payment of Remuneration of Directors
(b) The payment of Commission to Managers
(c) The payment of Dividend
(d) The issue of Bonus shares - At the time of forfeiture of shares, the share capital account is debited with the:
(a) Market value of Shares
(b) Called-up value of Shares
(c) Paid-up value of Shares
(d) Face-value of Shares - Dividend is paid as a percentage of
(a) Called-up Capital
(b) Paid-up Capital
(c) Reserve Capital
(d) Registered Capital
Business Studies
- As per the Companies Act, 2013, maximum number of partners in a partnership firm is limited up to:
(a) 20
(b) 50
(c) 100
(d) 10 - The World Bank began its operation in:
(a) June 194
(b) June 1947
(c) June 194
(d) June 1945 - Which of the following is the oldest form of organizing public sector enterprises?
(a) Departmental Undertakings
(b) Departmental Stores
(c) Government Companies
(d) Co-operative Societies - The minimum amount that can be remitted through RTGS is
(a) Rs.2 Lakh
(b) Rs.5 Lakh
(c) Rs.10 Lakh
(d) Rs.1 Lakh - The ‘International Monetary Fund commenced operation in Washington on:
(a) March 1, 1948
(b) April 1, 1947
(c) April 1, 1948
(d) March 1, 1947 - Registration of which type of partnership is compulsory?
(a) Limited Liability Partnership
(b) General Partnership
(c) Partnership at will
(d) Unlimited Liability Partnership - Which of the following is not a limitation of sole proprietorship?
(a) Limited resources
(b) Unlimited Liability
(c) Uncertain Life of Business concern
(d) Direct Incentive - Which of the following is a limitation of co-operative society?
(a) Limited Liability
(b) Support from Government
(c) Government Control
(d) Equality in voting status - Which of the following is not a principle of Insurance?
(a) Insurable Interest
(b) Assist in capital formation
(c) Indemnity
(d) Utmost Good Faith - Which of the following is not a function of Insurance?
(a) Protection
(b) Risk – Sharing
(c) Providing Finance
(d) Providing certainty - Which of the following is a major argument against social responsibility of business?
(a) Long-term interest of the firm
(b) Burden on Consumers
(c) Avoidance of Government regulation
(d) Justification for existence and Growth - Which of the following is not a characteristic of Business?
(a) Profit Motive
(b) Existence of Risk
(c) Certainty of Return
(d) Dealings in goods and services on a regular basis - The interval between two annual general meetings of a company shall not exceed ———
(a) 15 Months
(b) 18 Months
(c) 20 Months
(d) 12 Months - A company secretary is appointed in a company by the
(a) Shareholders in Annual General Meeting
(b) Government
(c) Board of Directors
(d) Institute of Company Secretaries of India - In a Government company, the share capital held by the Government must not be less than of the total capital.
(a) 51%
(b) 75%
(c) 76%
(d) 50% - The agreement of Partnership
(a) Must be in Writing
(b) Can be either Oral or in Writing
(c) Must be in Writing on the Stamp paper
(d) Must be Oral - Which of the following documents defines the scope of a company’s activities?
(a) Statutory Declaration
(b) Articles of Association
(c) Prospectus
(d) Memorandum of Association - Directors of a public company are elected by:
(a) Government
(b) Shareholders
(c) Debenture holders
(d) Public - The minimum number of members in a public company must be:
(a) 5
(b) 7
(c) 10
(d) 2 - How many minimum number of meetings of ‘Board of Directors’ are required to be held by a public company during any financial year?
(a) 3
(b) 4
(c) 6
(d) 2
Business Management
- Decentralization:
(a) Decrease the Importance of Subordinates
(b) Increase the Importance Subordinates of
(c) Increase the Importance of Superiors
(d) Decrease the Importance of Superiors - Functional Foremanship’ is developed by:
(a) Henry Fayol
(b) F.W. Taylor
(c) Peter F. Druker
(d) Maslow - The principle of management which implies that there should be ‘One Head and One Plan’ for a group of activities is:
(a) Order
(b) Unity of Command
(c) Authority and Responsibility
(d) Unity of Direction - Which of the following Management functions are closely related?
(a) Planning and Controlling
(b) Planning and Staffing
(c) Planning and Organizing
(d) Staffing and Controlling - Status comes under which type of barriers of Communication?
(a) Organizational Barrier
(b) Semantic Barrier
(c) Psychological Barrier
(d) Personal Barrier - Which of the following pair is correctly matched?
(a) Promotion: Does not involve higher position, Status and responsibilities
(b) Autocratic Leadership: Enhance Motivation
(c) Job Enrichment: Mechanism to identify employees’ growth potentials
(d) Feedback Interview: Conducted at the time of employee leaving the organization - Span of control means:
(a) A manager can supervise only a limited number of subordinates
(b) An organization consists of various departments
(c) Authority of each employee is clearly defined
(d) Every subordinate has one superior - The ‘Need – Hierarchy Theory of Motivation is given by:
(a) F.W. Taylor
(b) Henry Fayol
(c) Herzberg
(d) Maslow - Grapevine is associated with:
(a) Vertical Communication
(b) Horizontal Communication
(c)Informal Communication
(d) Formal Communication - Which of the following is not a type of study in scientific Management 7
(a) Method Study
(b) Motion study
(c) Research Study
(d) Time study
Business Finance
- The First Stock Exchange was set up in Asia at:
(a) Mumbai
(b) Shanghai
(c) Beijing
(d) Tokyo - The maximum period for which a ‘Commercial paper can be issued is
(1) 6 Months
(b) 9 Months
(c) 12 Months
(d) 3 Months - Long term loan is browed @ 10% and tax rate is 30%. The cost of debt (after tax) is
(a) 7 %
(b) 10 %
(c) 20 %
(d) 3 % - Which source of Business Finance provides benefit in tax?
(a) Equity Shares
(b) Preference Shares
(c) Retained Earnings
(d) Debentures - The First Mutual Fund scheme in India was introduced by:
(a) Government of India
(b) Unit Trust of India
(c) Reserve Bank of India
(d) State Bank of India - A ‘long-term investment decision’ is also known as:
(a) Dividend Decision
(b) Financial Decision
(c) Cash Management Decision
(d) Capital Budgeting Decision - Some merits of a good source of finance are as follows:
(i) It is a convenient and continuous source of funds.
(ii) It needs to promote the sales of an organization.
(iii) It does not create any charge on the assets of the firm while providing funds.
Identify the source of finance:
(a) Trade Credits
(b) Factoring
(c) Lease financing
(d) Retained Earnings
Experiential Activity-Based Pedagogy and Case Study-Based Questions
- Which of the following test should be conducted to identify the strength and weakness of the students in an area of study?
(a) Achievement Test
(b) Diagnostic Test
(c) Aptitude Test
(d) Reasoning Test - What does the drive namely “Operation Blackboard as envisaged in the National Policy of Education, 1986 imply?
(a) To provide essential facilities to all educational institutions
(b) To provide essential facilities to Primary schools
(c) To provide Blackboards for Primary schools
(d) To provide Blackboards to secondary schools - Which agency is proposed to be set up to catalyze and expand research and innovation across the country as per the National Education Policy, 2020 20
(a) Higher Education Grant Council
(b) School Education Commission
(c) National Innovation Mission
(d) National Research Foundation - Eklavya Model Residential Schools (EMRSs) are meant for:
(a) ST students in remote areas
(b) SC students only
(c) SC and ST students only
(d) SC, ST and OBC only - Split-Half method is used for determining which of the following characteristic of a test?
(a) Validity
(b) Reliability
(c) Objectivity
(d) Usability
National Education Policy (NEP) 2020
- As per recommendation of National Education Policy 2020, how much percentage of GDP is to be invested in Education Sector of the country?
(a) 6
(b) 7
(c) 8
(d) 5 - Formative assessment is conducted to
(i) monitor student learning
(ii) provide ongoing feedback
(iii) improve teaching-learning process
(iv) know the position of a student in the group
Select the correct answer using the code given below:
(a) (i), (iii) and (iv)
(b) (ii), (iii) and (iv)
(c) (i), (ii) and (iv)
(d) (i), (ii) and (iii) - Which of the following is a digital storehouse, recommended by National Education Policy 2020, for digital storage of academic credits of students earned from various recognised higher educational institutions?
(a) Credit Storehouse
(b) Academic warehouse
(c) Digital Bank of credit
(d) Academic Bank of Credit - National Education Policy 2020 is based on how many pillars?
(a) 4
(b) 3
(c) 2
(d) 5 - The aim of National Education Policy 2020, is to increase the percentage in Gross Enrollment in higher Education by 2035 to:
(a) 40%
(b)50%
(c) 60%
(d) 30%
New Vacancy Rules 2025:
3.3.1 Mode of Examination
Tier-I of EMRS Staff Selection Exam (ESSE-2025) will be conducted in MCQ “OMR Based (Pen-Paper)” mode while Tier–II will be combination of descriptive questions and MCQ “OMR Based (Pen-Paper)” mode. After Tier–II, there will be interview for the post of Principal and skill test for the post of Junior Secretariat Assistant.
EMRS Eklavya Model Residential School PGT Commerce Syllabus
Accountancy
Introduction to Accounting
- Accounting- concept, meaning, as a source of information objectives, advantages and limitations, types of accounting information; users of accounting information and their needs. Qualitative Characteristics of Accounting Information. Role of Accounting in Business.
- Basic Accounting Terms- Business Transaction, entity, Capital, Drawings. Liabilities (Non Current and Current). Assets (Non Current, Current); Fixed assets (Tangible and Intangible), Expenditure (Capital and Revenue), Expense, Revenue, Income, Profit, Gain, Loss, Purchase, Sales, Goods, Stock, Debtor, Creditor, Voucher, Discount (Trade discount and Cash Discount)
Theory Base of Accounting
- Fundamental accounting assumptions: GAAP: Concept
- Business Entity, Money Measurement, Going Concern, Accounting Period, Cost Concept, Dual Aspect, Revenue Recognition, Matching, Full Disclosure, Consistency, Conservatism,
Materiality and Objectivity System of Accounting. Basis of Accounting: cash basis and accrual basis - Accounting Standards: Applicability in IndAS
- Goods and Services Tax (GST): Characteristics and Advantages.
Recording of Business Transactions
- Voucher and Transactions: Source documents and Vouchers, Preparation of Vouchers, Accounting Equation Approach: Meaning and Analysis, Rules of Debit and Credit.
- Recording of Transactions: Books of Original Entry- Journal
- Special Purpose books
- Cash Book: Simple, cash book with bank column and petty cashbook
- Purchases book
- Sales book
- Purchases return book
- Sales return book
- Journal Proper
- Ledger: Format, Posting from journal and subsidiary books, Balancing of accounts
- Bank Reconciliation Statement:
➢ Need and preparation, Bank Reconciliation, Statement with Adjusted Cash Book - Depreciation, Provisions and Reserves
➢ Depreciation: Meaning, Features, Need, Causes, factors
➢ Other similar terms: Depletion and Amortisation
➢ Methods of Depreciation: i. Straight Line Method (SLM) ii. Written Down Value Method (WDV) - Difference between SLM and WDV;
- Advantages of SLM and WDV Accounting treatment of depreciation
i. Charging to asset account
ii. Creating provision for depreciation/accumulated depreciation account
iii. Treatment for disposal of asset - Provisions and Reserves: Difference
- Types of Reserves: i. Revenue reserve ii. Capital reserve iii. General reserve iv. Specific reserve v. Secret Reserve
- Difference between capital and revenue reserve
Trial balance and Rectification of Errors
- Trial balance: objectives and meaning & preparation
- Errors: types-errors of omission, commission, principles, and compensating; their effect on Trial Balance. Detection and rectification of errors; preparation of suspense account.
Financial Accounting – II
- Financial Statements Meaning, objectives, and importance; Revenue and Capital Receipts; Revenue and Capital Expenditure;
- Deferred Revenue expenditure.
- Trading and Profit and Loss Account: Gross Profit, Operating profit and Net profit. Preparation.
- Balance Sheet: need, grouping and marshalling of assets and liabilities. Preparation.
- Adjustments in preparation of financial statements with respect to closing stock, outstanding expenses, prepaid expenses, accrued income, income received in advance, depreciation, bad debts, provision for doubtful debts, provision for discount on debtors, Abnormal loss, Goods taken for personal use/staff welfare, interest on capital and managers commission.
- Preparation of Trading and Profit and Loss account and Balance Sheet of a sole proprietorship with adjustments.
Accounting for Partnership Firms
- Partnership: features, Partnership Deed. Provisions of the Indian Partnership Act 1932 in the absence of partnership deed.
- Fixed v/s fluctuating capital accounts. Preparation of Profit and Loss Appropriation account- division of profit among partners, guarantee of profits.
- Past adjustments (relating to interest on capital, interest on drawing, salary and profit sharing ratio). Goodwill: meaning, nature, need, factors affecting and methods of valuation – average profit, super profit and capitalization.
Accounting for Partnership firms – Reconstitution and Dissolution.
- Change in the Profit Sharing Ratio among the existing partners – sacrificing ratio, gaining ratio, accounting for revaluation of assets and reassessment of liabilities and treatment of reserves, accumulated profits and losses. Preparation of revaluation account and balance sheet.
- Admission of a partner – effect of admission of a partner on change in the profit sharing ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and reassessment of liabilities, treatment of reserves, accumulated profits and losses, adjustment of capital accounts and preparation of capital, current account and balance sheet.
Retirement and death of a partner
- Effect of retirement / death of a partner on change in profit sharing ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and reassessment of liabilities, adjustment of accumulated profits, losses and reserves, adjustment of capital accounts and preparation of capital, current account and balance sheet. Preparation of loan account of the retiring partner.
- Calculation of deceased partner’s share of profit till the date of death. Preparation of deceased partner’s capital account and his executor’s account.
Dissolution of a partnership firm:
- Meaning of dissolution of partnership and partnership firm, types of dissolution of a firm. Settlement of accounts – preparation of realization account, and other related accounts: capital accounts of partners and cash/bank a/c (excluding piecemeal distribution, sale to a company and insolvency of partner(s)).
Accounting for Share Capital•
- Features and types of companies• Share and share capital: nature and types.
- Accounting for share capital: issue and allotment of equity and preferences shares. Public subscription of shares – over subscription and under subscription of shares; issue at par and at premium, calls in advance and arrears (excluding interest), issue of shares for consideration other than cash.
- Concept of Private Placement and Employee. Stock Option Plan (ESOP), Sweat Equity.
- Accounting treatment of forfeiture and reissue of shares. Disclosure of share capital in the Balance Sheet of a company.
Accounting for Debentures
- Debentures: Meaning, types, Issue of debentures at par, at a premium and at a discount. Issue of debentures for consideration other than cash; Issue of debentures with terms of redemption; debentures as collateral security-concept, interest on debentures. Writing off discount / loss on issue of debentures.
Financial statements of a Company:
- Meaning, Nature, Uses and importance of financial Statement.
- Statement of Profit and Loss and Balance Sheet in prescribed form with major headings and sub headings (as per Schedule III to the Companies Act, 2013)
- Financial Statement Analysis: Meaning, Significance Objectives, importance and limitations.
- Tools for Financial Statement Analysis: Cash flow analysis, ratio analysis.
- Accounting Ratios: Meaning, Objectives, Advantages, classification and computation.
- Liquidity Ratios: Current ratio and Quick ratio.
- Solvency Ratios: Debt to Equity Ratio, Total Asset to Debt Ratio, Proprietary Ratio and Interest Coverage Ratio. Debt to Capital Employed Ratio.
- Activity Ratios: Inventory Turnover Ratio, Trade Receivables Turnover Ratio, Trade Payables Turnover Ratio, Fixed Asset Turnover Ratio, Net Asset Turnover Ratio and Working Capital Turnover Ratio.
- Profitability Ratios: Gross Profit Ratio, Operating Ratio, Operating Profit Ratio, Net Profit Ratio and Return on Investment.
Cash Flow Statement
- Meaning, objectives Benefits, Cash and Cash Equivalents, Classification of Activities and preparation
B. Business Studies
Foundation of Business
- Meaning and features
Evolution and Fundamentals of Business
History of Trade and Commerce in India: Indigenous Banking System, Rise of Intermediaries, Transport, Trading Communities: Merchant Corporations, Major Trade Centres, Major Imports and Exports, Position of Indian Sub-Continent in the World Economy. Business–meaning and Characteristics, Business- profession and employment-Concept, Objectives of business Classification of business activities – Industry and Commerce, Industry-types: primary, secondary, tertiary Meaning and subgroups, Commerce-trade: (types-internal, external; wholesale and retail) and auxiliaries to trade; (banking, insurance, transportation, warehousing, communication, and advertising) – meaning, Business risk-Concept
Forms of Business organizations
Sole Proprietorship-Concept, merits and limitations, Partnership-Concept, types, merits and limitation of partnership, registration of a partnership firm, partnership deed. Types of partners. Hindu Undivided Family Business: Concept. Cooperative Societies-Concept, merits, and limitations. Company – Concept, merits and limitations; Types: Private, Public and One Person Company – Concept. Formation of company – stages, important documents to be used in formation of a company. Choice of form of business organization
Public, Private and Global Enterprises
Public sector and private sector enterprises – Concept. Forms of public sector enterprises: Departmental Undertakings, Statutory. Corporations and Government Company. Global Enterprises – Feature. Public private partnership – concept
Business Services
Business services – meaning and types. Banking: Types of bank accounts – savings, current, recurring, fixed deposit and multiple option deposit account. Banking services with particular reference to Bank Draft, Bank Overdraft, Cash credit. E-Banking meaning, Types of digital payments. Insurance – Principles. Types – life, health, fire and marine insurance – concept. Postal Service-Mail, Registered Post, parcel, Speed Post, Courier-meaning
Emerging Modes of Business
E-business: concept, scope and benefits
Social Responsibility of Business and Business Ethics
Concept of social responsibility. Case of social responsibility. Responsibility towards owners, investors, consumers, employees, government and community. Role of business in environment protection. Business Ethics – Concept and Elements.
Finance and Trade-Sources of Business Finance
Concept of business finance. Owners’ funds- equity shares, preferences share, retained earnings. Borrowed funds: debentures and bonds, loan from financial institution and commercial banks, public deposits, trade credit, Inter Corporate Deposits (ICD).
Small Business and Enterprises
Entrepreneurship Development (ED): Concept, Characteristics and Need. Process of Entrepreneurship Development: Start-up India Scheme, ways to fund start-up. Intellectual Property Rights and Entrepreneurship. Small scale enterprise as defined by MSMED Act 2006 (Micro, Small and Medium Enterprise Development Act). Role of small business in India with special reference to rural areas. Government schemes and agencies for small scale industries: National Small Industries Corporation (NSIC) and District Industrial Centre (DIC) with special reference to rural, backward areas.
Internal Trade
Internal trade – meaning and types services rendered by a wholesaler and a retailer. Types of retail-trade-Itinerant and small scale fixed shops retailers. Large scale retailers-Departmental stores, chain stores – concept. GST (Goods and Services Tax): Concept and key-features.
International trade:
Concept and benefits. Export trade – Meaning and procedure. Import Trade – Meaning and procedure. Documents involved in International Trade; indent, letter of credit, shipping order, shipping bills, mate’s receipt (DA/DP). World Trade Organization (WTO) meaning and objectives.
Nature and Significance of Management
Management – concept, objectives, and importance. Management as Science, Art and Profession. Levels of Management. Management functions-planning, organizing, staffing, directing and controlling. Coordination- concept and importance.
Principles of Management
Principles of Management- concept and significance. Fayol’s principles of management. Taylor’s Scientific management- principles and techniques.
Business Environment
Business Environment- concept and importance Dimensions of Business Environment- Economic, Social, Technological, Political and Legal. Demonetization – concept and features.
Planning
Concept, importance and limitation. Planning process. Single use and standing plans. Objectives, Strategy, Policy, Procedure, method Rule, budget and Programme.
Organising
Concept and importance. Organising Process. Structure of organisation- functional and divisional concept. Formal and informal organisation- concept. Delegation: concept, elements and importance. Decentralization: concept and importance.
Staffing
Concept and importance of staffing. Staffing as a part of Human Resource Management concept. Staffing process. Recruitment process. Selection – process. Training and Development – Concept and importance, Methods of training – on the job and off the job – vestibule training, apprenticeship training and internship training.
Directing
Concept and importance. Elements of Directing. Motivation – concept, Maslow’s hierarchy of needs, Financial and non-financial incentives. Leadership – concept, styles – authoritative, democratic and laissez faire. Communication – concept, formal and informal communication; barriers to effective communication, how to overcome the barriers.
Controlling
Controlling – Concept and importance. Relationship between planning and controlling. Steps in process of control.
Financial Management
Concept, role and objectives of Financial Management. Financial decisions: investment, financing and dividend- Meaning and factors affecting. Financial Planning – concept and importance. Capital Structure – concept and factors affecting capital structure. Fixed and Working Capital – Concept and factors affecting their requirements.
Financial Markets
Financial Markets: Concept. Money Market: Concept. Capital market and its types (primary and secondary). Stock Exchange – Functions and trading procedure. Securities and Exchange Board of India (SEBI) – objectives and functions
Marketing
Marketing – Concept, functions and philosophies. Marketing Mix – Concept and elements. Product – branding, labelling and packaging – Concept. Price – Concept, Factors determining price. Physical Distribution – concept, components and channels of distribution. Promotion – Concept and elements; Advertising, Personal Selling, Sales Promotion and Public Relations
Consumer Protection
Concept and importance of consumer protection. The Consumer Protection Act, 2019: Meaning of consumer. Rights and responsibilities of consumers Who can file a complaint? Redressal machinery Remedies available. Consumer awareness – Role of consumer organizations and Non- Governmental Organizations (NGOs)
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Syllabus: Link