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question_answer1) "Earning of profits is the main objective of a business and other objectives are there to aid it only." Do you agree? Justify your answer.
question_answer2) "Risk is the element which makes the business different from other economic activities." Do you agree? Justify your answer.
question_answer3) Court has banned use of plastic bags. Puja is engaged in business of selling fruits 'and vegetables. She has to now buy paper bags which are costlier than plastic bags. It will help a business in attainment of some objectives and will hamper some other objectives. Identify these.
question_answer4) Rajiv is running a cloth shop. Some of the clothes get out of fashion and cannot be sold. Some of these get damaged in store. He gets them repaired from a mahila ashram and donates to an orphanage home. Which objectives are getting fulfilled here?
question_answer5) A lady sells newspapers to a lumberman. She claims to her husband that she has started with a business. Husband claims that it is not business because she is not doing it regularly but she clams that she sells newspapers every month. Is it a business? Clarify.
question_answer6) Kayco limited is manufacturing detergents. They decided to launch a new range of herbal products. As they are in a hurry, they have tested products on animals only. The necessary information is missing on the package. The management also plans to launch a new factory in a tribal area where the required products are easily available and labour men and women and children are available for work at low wages. (i) Which values do you find missing in the above para? (ii) Will the decision to install a new unit in a tribal area help society?
question_answer7) Anju is working in an organization which is engaged in making garments. There is no class conflict between the management and workers. The working conditions are very good. The company is earning huge profits. As a policy matter, management is sharing the gains with the employees. Company is also planning to open five new branches. Identify the objectives that are getting fulfilled here.
question_answer8) Mr. X is working in a company. He believes that he generates a revenue of more than 5 lakh per month for the company however, company pays him a salary of only 50,000. He decides to start his own business believing that he will enjoy the entre cake himself. Is he right in his approach?
question_answer9) A business man started a new venture. He took a loan from bank from the same. He required raw material from China and imported the same. He got the raw material insured so as to protect it against marine risks. When raw material reached India, he stored it in a public warehouse. He arranged for sending goods to his factory in Delhi using railways. He wrote an e mail to his manager in Delhi to collect goods. Quoting lines identify the auxiliaries to trade being used in above case.
question_answer10) Meena is running a boutique. She is facing many risks. Her tailor may leave job suddenly which may affect is timely completion of orders. She is also worried about theft or fire in boutique. There are also changes in fashion which may be used as an opportunity or can act as a threat. Government policies can also change like compulsion of GST or maintaining complete accounting records etc. Identify the types of business risks from above para. Give reference to the lines referring those risks.
question_answer11) Mr. Sanjay is a chartered accountant. He is engaged in his own practice. He is working with the sole objective of maximizing his earnings. He is least bothered about his professional code of conduct. He believes that he is a business man and first and foremost priority of a business is to generate profits everything else is secondary. Is he right in his approach? Justify. Identify two values missing in Sanjay.
question_answer12) Sona and Mona are two friends. Both of them have completed their MBA and are planning to start their own business. Sona believes that ultimate aim of a business is to earn profits. It is profits which provide financial base to a business. Mona agrees that profits are important for business but she claims that business cannot ignore other objectives. (a) Identify two other objectives Mona is referring to. (b) Do you think profits play an important role in business? Give three points to justify your perspective. (c) Which of the two objectives are more important?
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