NIOS Solved Papers: Business Studies (215) - April' 2012

Time : 3 Hours ] [ Maximum Marks : 100
1. Which of the following is an example of manufacturing industry?      1
(A) Transport services (B) Mining (C) Textile (D) Erection of dam
ans.:- (D) Erection of dam
2. When a person wants to buy goods in bulk, the best mode of purchase for him will be:1
(A) Purchase by inspection
(B) Purchase by sample
(C) Purchase by description
(D) Purchase from the nearest shop
Ans.:- (B) Purchase by sample
 3. Overdraft facility is allowed to account holders of:    1
(A) Savings Bank Account (B) Current Deposit Account
(C) Fixed Deposit Account (D) Recurring Deposit Account
Ans.:- (B) Current Deposit Account
4.  A letter written by a trader to know about the quality, quantity, price etc. of the goods he/she wants to buy is called:                1
(A) Enquiry letter (B) Order letter (C) Complain letter (D) Recovery letter
Ans.:- (A) Enquiry letter
5. Which of the following bank provides financial assistance to business to meet long term capital requirement? 1
(A) Central Bank (B) Commercial Banks
(C) Development Banks (D) EXIM Banks
Ans.:- (C) Development Banks
6. A trader has taken a fire insurance policy of Rs. 5,00,000 on goods lying in his godown. Out of these goods of the value of Rs. 3,00,000 have been destroyed by fire. He can claim an amount of loss to the value of:      1
(A) Rs. 2,00,000 (B) Rs. 3,00,000 (C) Rs. 5,00,000 (D) Rs. 8,00,000
Ans.:- (B) Rs. 3,00,000
7. One of your friends who lives in a village, has agriculture land. After passing senior secondary he wants to do something on his own for earning handsome money which area should he choose?      1
(A) Run a grocery store (B) Practice as a lawyer (C) Do dairy farming (D) Do hand spinning and weaving
Ans.:- (C) Do dairy farming
8. Under which Right a consumer can select the best quality item?         1
(A) Right to consumer education
(B) Right to safety
(C) Right to choose
(D) Right to be heard
Ans.:- (A) Right to consumer education
9. Which form of business organisation can be formed with a minimum no. of ten members having liability limited?   1
(A) Partnership (B) Private Ltd. Co.
(C) Public Ltd. Co. (D) Co-operative Society
Ans.:- (D) Co-operative Society
10. One of your friends purchased a car but found many defects in it. The dealer is neither replacing it nor taking it back and return the money. Explain to him the judicial system set up under the Consumer Protection Act, 1986 so that your friend can seek legal remedy.3
Ans.:- The judicial system set up under the Consumer Protection Act, 1986, consists of consumer court at the district level, state level and national level. The district forum has the jurisdiction to deal with all complaints where the value of the goods or services or the compensation claimed does not exceed Rs. 20 lacks. The State Commissions are empowered to deal with cases where the value or amount involved exceed Rs. 20 lacks but not exceed Rs. One crore. The commissions also deal with appeals against the orders of the District Forum. The National commission has the juistisdiction to take up all claims and grievances exceeding the value of Rs. One crore. It has also applellate jurisdiction, that is, power to deal with appeals against orders passed by State Commissions. An aggrieved party can appleal to the Supreme Court against the orders of the National Commission.

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