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Quarterly Exam - Model Question Paper II

12th Standard

    Reg.No. :
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Commerce

Time : 02:30:00 Hrs
Total Marks : 100

    Part A

    25 x 1 = 25
  1. The agreement of partnership

    (a)

    must be oral

    (b)

    must be in writing

    (c)

    must be writing in the stamp paper

    (d)

    can be either oral or in writing

  2. Membership by birth is main feature in

    (a)

    Sole trader

    (b)

    Joint hindu family buissness

    (c)

    Co-operative salary

    (d)

    Partnership

  3. The term objective means

    (a)

    a goal to be achieved

    (b)

    a target to be shot

    (c)

    to pay the dues

    (d)

    all the above

  4. According to only the male members in the family get the right of inheritance by birth.

    (a)

    Mitakshara law

    (b)

    Hindu law

    (c)

    Dayabhaga law

    (d)

    Indian law

  5. In partnership,the partners may share profits or losses

    (a)

    in capital proportion

    (b)

    in working proportion

    (c)

    in an agreed proportion

    (d)

    equally

  6. Sole proprietorship is suitable for

    (a)

     Large scale concerns

    (b)

    Medium scale concerns

    (c)

    Small scale concerns

  7. Decision making process in sole trading business is______________

    (a)

    Quick

    (b)

    Slow

    (c)

    Neither quick nor slow

  8. A sole trader

    (a)

     Cannot keep his business secrets

    (b)

    Can keep his business secrets

    (c)

    None of the above

  9. .......is the only form of organization where no legal formalities is required.

    (a)

    sole proprietorship

    (b)

    partnership

    (c)

    company

    (d)

    co-operatives

  10. Consumers are the........

    (a)

    servants

    (b)

    workers 

    (c)

    people 

    (d)

    kings 

  11. A partnership is formed by

    (a)

    Agreement

    (b)

     Relationship among persons

    (c)

     The direction of government

  12. The basis of partnership is

    (a)

    Utmost good faith

    (b)

    Money available for investment

    (c)

    Desire to work together

  13.  A partnership firm may be registered under______________

    (a)

    1949 Act

    (b)

    1956 Act

    (c)

    1932 Act

    (d)

    1942 Act

  14. The need for partnership form of organisation arose from the limitations of ........... .

    (a)

    Sole Proprietorship

    (b)

    Joint Hindhu Family

    (c)

    Company

    (d)

    Co-Operatives

  15. If there is no agreement regarding sharing of profit or loss, all the partners share ............. .

    (a)

    captial contribution

    (b)

    equally

    (c)

    managerial capacity

    (d)

    none of the above

  16.  Registration of a joint stock company is

    (a)

    compulsory

    (b)

     optional

    (c)

    compulsory for public limited companies and optional for private limited companies

    (d)

     optional for public limited companies and compulsory for private limited companies

  17. Shares can be forfeited for

    (a)

    non-payment of any debt due to the company

    (b)

    not attending three annual general meetings consecutively

    (c)

     non payment of call money

    (d)

    for violent activities at the annual general meetings

  18. The process by which the idea of forming a company takes a definite shape resulting in its incorporation is called.....

    (a)

    Formation 

    (b)

    Incorporation 

    (c)

    Dissolution

    (d)

    Promotion

  19. If a company adopts the principle of retirement by rotation, ................ of the directors must retire by rotation.

    (a)

    One-half

    (b)

    One-third

    (c)

    One-fourth

    (d)

    One-fifth

  20. Maximum remuneration payable to a manager cannot exceed..............of the annual net profit.

    (a)

    5%

    (b)

    10%

    (c)

    15%

    (d)

    12%

  21. ............... means the list of business to be transacted at the meeting.

    (a)

    Agenda

    (b)

    Quorum

    (c)

    Resolution

    (d)

    Proxy

  22. First directors are appointed by

    (a)

    members in statutory meeting

    (b)

    members in the first Annual General meeting

    (c)

    by being named in the Articles of Association

    (d)

    Registrar of Companies

  23. A person can hold directorship of not more than _________public limited companies

    (a)

    10

    (b)

    15

    (c)

    20

    (d)

    limitless

  24. The overall maximum managerial remuneration in a public limited company shall not exceed

    (a)

    11% of net profits

    (b)

    11% of paid up capital and free reserves

    (c)

    5% of net profits

    (d)

    5% of paid up capital and free reserves

  25. Which of the following must hold a statutory meeting ?

    (a)

    Statutory Companies

    (b)

    Private Limited Companies

    (c)

    Public Limited Companies

    (d)

    Chartered Companies

  26. Part B

    7 x 2 = 14
  27. What is sole trading business?

  28. How is sole trader rewarded in his business?

  29.  What is the relationship that exits among partners?

  30. Explain the basis of partnership business.

  31. What do the articles of association deal with?

  32. Define a 'Company Secretary'.

  33. What is “Minutes”?

  34. Part C

    7 x 3 = 21
  35. What is Delegation of Authority?

  36. Explain any two types of individualistic institutions

  37. Mention the suitability of sole proprietorship.

  38. What is limited partnership?

  39. What are the preferential rights given to preference shares?

  40. Write notes on 'Meetings of the Board of Directors'.

  41. What are the disqualifications of a director?

  42. Part D

    8 x 5 = 40
  43. Explain briefly the principles of organisation.(Any Five)

  44. What do you understand by multinational companies and explain its features

  45. Discuss the merits of sole trading form of business(any 10)

  46. Explain the basic features of partnership

  47. Explain the 'Express and Implied Authority' of a Partner.

  48. Explain the different type of shares.

  49. Bring out the distinction between a Private limited company and a public limited company(any 5)

  50. Write explanatory notes on
    a) Proxy b) Quorum c) Minutes

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