Class – XII ENTREPRENEURSHIP LAST YEAR PAPER-01(2014-15)

Time: 3 Hours, Maximum Marks: 70

General Instructions:

1. All questions are compulsory.
2. Please check that this Question Paper contains 24 Questions.
3. Marks for each question are indicated against it.
4. Questions 1 to 5 are Very Short Answer type carrying 1 mark each.
5. Questions 6 to 10 are Short Answer-I Type questions carrying 2 marks each.
6. Questions 11 to 17 are Long Answer-I Type question carrying 3 marks each.
7. Questions 18 to 21 are Long Answer-II Type questions carrying 4 marks each.
8. Questions 22 to 24 are Essay Answer Type questions carrying 6 marks each.
9. Answer should be brief and to the point.
10. Please write down the serial number of the Question before attempting it.
11. Distinguish between 'Sales Tax' and 'Excise Duty'.
12. What is meant by 'Employment'?
13. Give the meaning of 'Legal Environment.'
14. 'It is the process of entrepreneurship which involves the translation of a useful idea into an application which has commercial value.' Identify the process.
15. Rahul wants to start an amusement park near Visakhapatnam. This will require an investment of 50 lakhs. Name the financial institution which Rahul should approach for financing this venture.
16. State any two points of importance of 'Goal Setting'.
17. Give the meaning of 'Routing' and 'Scheduling' as elements of operational plan.
18. Gaurav started a factory for manufacturing bags for the students of nursery and primary classes. He invested `2,00,000 of his own and obtained a loan of `10,00,000 from bank. He

1/5

made the instruction plan describing the details that were needed for the operation of machines by the workers. Identify and explain the format of 'business plan' described in the above para.

1. With its help the consumers are able to identify the products of a firm and are also able to differentiate them from those of the competitors. Identify the concept and state its components.
2. Name and define the form of business organization in which the liability of its members is limited. State one more feature of this form of business organization.
3. What is meant by "Problem Identification"? State its any four uses and also give an example.

1. After passing his 12th class with entrepreneurship as an elective subject 'Guru' started his

own business. He invested `2,00,000 as capital which was given to him by his father. He obtained a loan of `1,00,000 from his elder brother Ravi, who was working as an assistant manager in Bank of Baroda. In the first year he incurred a loss of 50,000 and had to pay to his suppliers their outstanding bills. This created a financial problem for him and he had to take a loan of `1,00,000 from the Bank of Baroda on the personal guarantee of his brother. He started doing hard work, lowered the prices and informed his customers about the qualities of goods sold by him. Because of this the sales increased four times and he earned a net profit of `75,000 in the second year.

1. Identify the form of business organization started by "Guru".
2. State any five features of such a form of business organisation.
3. State the advantages of 'Good Negotiations'.

1. 'For the smooth and orderly functioning of corporate sector in a free market economy,

stock exchanges are indispensable because of different roles played by them for different groups.' Explain the importance of stock exchange to investors in the light of this statement.

1. 'The Fancy Store' a readymade garments retail shop sold 8,000 shirts at Rs. 400 per shirt

during the year ended 31st March, 2014. Cost of placing an order and receiving goods is Rs.2,000 per order. Inventory holding cost is Rs. 500 per year. Calculate the ‘Economic Order 2/5