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Page 1 1 SAMPLE QUESTION PAPER (2021-2022) TERM 1 ENTREPRENEURSHIP (066) Time: 90 minutes Max Marks: 35 General Instructions: 1. The Question Paper contains three sections. 2. Section A has 24 questions. Attempt any 20 questions. 3. Section B has 24 questions. Attempt any 20 questions. 4. Section C has 12 questions. Attempt any 10 questions. 5. All questions carry equal marks. 6. There is NO negative marking. SECTION A 1 "One-man control is best in the world if that man is big enough to manage everything." This statement holds true for ____________ form of business organization. a. Private company b. Sole proprietor c. Partnership d. Public company 2 Partnership form of organisation was developed due to the inherent limitations of sole proprietorship. One of them is limited capital, identify the other two? a. Limited managerial ability, limited continuity b. Limited continuity, unlimited liability c. Limited managerial ability, unlimited liability d. Lack of secrecy, limited continuity 3 _______________ section of the business plan generally begins with the "mission statement" by the entrepreneur describing the size, scope and nature of the enterprise. a. Description of business Venture b. Introductory profile c. Industry profile d. Entrepreneur’s biodata 4 A Company is called an artificial person because ____. a. it does not have the shape of a natural person. b. it cannot be sued in the court of law. c. it is invisible and intangible. d. it exists in the eyes of law. Page 2 1 SAMPLE QUESTION PAPER (2021-2022) TERM 1 ENTREPRENEURSHIP (066) Time: 90 minutes Max Marks: 35 General Instructions: 1. The Question Paper contains three sections. 2. Section A has 24 questions. Attempt any 20 questions. 3. Section B has 24 questions. Attempt any 20 questions. 4. Section C has 12 questions. Attempt any 10 questions. 5. All questions carry equal marks. 6. There is NO negative marking. SECTION A 1 "One-man control is best in the world if that man is big enough to manage everything." This statement holds true for ____________ form of business organization. a. Private company b. Sole proprietor c. Partnership d. Public company 2 Partnership form of organisation was developed due to the inherent limitations of sole proprietorship. One of them is limited capital, identify the other two? a. Limited managerial ability, limited continuity b. Limited continuity, unlimited liability c. Limited managerial ability, unlimited liability d. Lack of secrecy, limited continuity 3 _______________ section of the business plan generally begins with the "mission statement" by the entrepreneur describing the size, scope and nature of the enterprise. a. Description of business Venture b. Introductory profile c. Industry profile d. Entrepreneur’s biodata 4 A Company is called an artificial person because ____. a. it does not have the shape of a natural person. b. it cannot be sued in the court of law. c. it is invisible and intangible. d. it exists in the eyes of law. 2 5 Which of the following factors does the macro-environment not include? a. Political and regulatory factors. b. Customer needs in a given market. c. Social and demographic factors. d. Technological changes 6 Which of the following formats of business plan is not targeted towards the external stakeholder? a. Elevator pitch b. A pitch deck with oral narrative c. A written presentation for external stakeholders d. An internal operational plan 7 What is the minimum number of members required to start a public company? a. 2 b. 5 c. 7 d. 50 8 A company generally affixes a ………….in most of it’s documents a. Common signature b. Common Seal c. Common affixture d. Common annexure 9 An idea should eventually lead to success of the venture of an entrepreneur. Which among the following ideas will an entrepreneur have to select? a. Basic idea b. Any random idea c. Idea developed before environmental scanning d. Idea developed after environmental scanning 10 (i) Each partner is liable for acts performed by other partners (ii) Each partner can bind other partners and the firm by his acts done in the ordinary course of business. Which feature of partnership is highlighted by these two statements? a. Implied authority b. Utmost good faith c. Mutual Agency d. Agreement Page 3 1 SAMPLE QUESTION PAPER (2021-2022) TERM 1 ENTREPRENEURSHIP (066) Time: 90 minutes Max Marks: 35 General Instructions: 1. The Question Paper contains three sections. 2. Section A has 24 questions. Attempt any 20 questions. 3. Section B has 24 questions. Attempt any 20 questions. 4. Section C has 12 questions. Attempt any 10 questions. 5. All questions carry equal marks. 6. There is NO negative marking. SECTION A 1 "One-man control is best in the world if that man is big enough to manage everything." This statement holds true for ____________ form of business organization. a. Private company b. Sole proprietor c. Partnership d. Public company 2 Partnership form of organisation was developed due to the inherent limitations of sole proprietorship. One of them is limited capital, identify the other two? a. Limited managerial ability, limited continuity b. Limited continuity, unlimited liability c. Limited managerial ability, unlimited liability d. Lack of secrecy, limited continuity 3 _______________ section of the business plan generally begins with the "mission statement" by the entrepreneur describing the size, scope and nature of the enterprise. a. Description of business Venture b. Introductory profile c. Industry profile d. Entrepreneur’s biodata 4 A Company is called an artificial person because ____. a. it does not have the shape of a natural person. b. it cannot be sued in the court of law. c. it is invisible and intangible. d. it exists in the eyes of law. 2 5 Which of the following factors does the macro-environment not include? a. Political and regulatory factors. b. Customer needs in a given market. c. Social and demographic factors. d. Technological changes 6 Which of the following formats of business plan is not targeted towards the external stakeholder? a. Elevator pitch b. A pitch deck with oral narrative c. A written presentation for external stakeholders d. An internal operational plan 7 What is the minimum number of members required to start a public company? a. 2 b. 5 c. 7 d. 50 8 A company generally affixes a ………….in most of it’s documents a. Common signature b. Common Seal c. Common affixture d. Common annexure 9 An idea should eventually lead to success of the venture of an entrepreneur. Which among the following ideas will an entrepreneur have to select? a. Basic idea b. Any random idea c. Idea developed before environmental scanning d. Idea developed after environmental scanning 10 (i) Each partner is liable for acts performed by other partners (ii) Each partner can bind other partners and the firm by his acts done in the ordinary course of business. Which feature of partnership is highlighted by these two statements? a. Implied authority b. Utmost good faith c. Mutual Agency d. Agreement 3 11 Nelson started an AC repair shop in his area after doing a diploma course. What idea field is it? a. Market driven b. Trading related c. Service related d. Creative efforts 12 Karan has learnt the art of zardozi work from his grandfather and father. He opened a designer boutique exclusively for bridal wear all by himself. He introduced new designs in his work which is highly appreciated by everyone. What form of business organisation is operated by him? a. Sole proprietorship b. Partnership c. Private company d. Public company 13 Identify the third element in the innovation process from the given options. a. Resource organisation b. Commercial application c. Implementation d. Analytical planning 14 As per law, a business and owner are one and same in case of sole proprietorship. What characteristic does this imply? a. No separate legal entity b. Separate legal entity c. Legal entity d. Legal equity 15 What is the minimum paid up capital required to start a private ltd. Company? a. Rs.1,00,000 b. Rs.10,00,000 c. Rs.5,00,000 d. Rs.50,00,000 16 Which is the first stage in the process of innovation? a. Idea germination b. Creativity c. Preparation d. Incubation 17 What is the basic test of a successful entrepreneur? a. Identification of business opportunity Page 4 1 SAMPLE QUESTION PAPER (2021-2022) TERM 1 ENTREPRENEURSHIP (066) Time: 90 minutes Max Marks: 35 General Instructions: 1. The Question Paper contains three sections. 2. Section A has 24 questions. Attempt any 20 questions. 3. Section B has 24 questions. Attempt any 20 questions. 4. Section C has 12 questions. Attempt any 10 questions. 5. All questions carry equal marks. 6. There is NO negative marking. SECTION A 1 "One-man control is best in the world if that man is big enough to manage everything." This statement holds true for ____________ form of business organization. a. Private company b. Sole proprietor c. Partnership d. Public company 2 Partnership form of organisation was developed due to the inherent limitations of sole proprietorship. One of them is limited capital, identify the other two? a. Limited managerial ability, limited continuity b. Limited continuity, unlimited liability c. Limited managerial ability, unlimited liability d. Lack of secrecy, limited continuity 3 _______________ section of the business plan generally begins with the "mission statement" by the entrepreneur describing the size, scope and nature of the enterprise. a. Description of business Venture b. Introductory profile c. Industry profile d. Entrepreneur’s biodata 4 A Company is called an artificial person because ____. a. it does not have the shape of a natural person. b. it cannot be sued in the court of law. c. it is invisible and intangible. d. it exists in the eyes of law. 2 5 Which of the following factors does the macro-environment not include? a. Political and regulatory factors. b. Customer needs in a given market. c. Social and demographic factors. d. Technological changes 6 Which of the following formats of business plan is not targeted towards the external stakeholder? a. Elevator pitch b. A pitch deck with oral narrative c. A written presentation for external stakeholders d. An internal operational plan 7 What is the minimum number of members required to start a public company? a. 2 b. 5 c. 7 d. 50 8 A company generally affixes a ………….in most of it’s documents a. Common signature b. Common Seal c. Common affixture d. Common annexure 9 An idea should eventually lead to success of the venture of an entrepreneur. Which among the following ideas will an entrepreneur have to select? a. Basic idea b. Any random idea c. Idea developed before environmental scanning d. Idea developed after environmental scanning 10 (i) Each partner is liable for acts performed by other partners (ii) Each partner can bind other partners and the firm by his acts done in the ordinary course of business. Which feature of partnership is highlighted by these two statements? a. Implied authority b. Utmost good faith c. Mutual Agency d. Agreement 3 11 Nelson started an AC repair shop in his area after doing a diploma course. What idea field is it? a. Market driven b. Trading related c. Service related d. Creative efforts 12 Karan has learnt the art of zardozi work from his grandfather and father. He opened a designer boutique exclusively for bridal wear all by himself. He introduced new designs in his work which is highly appreciated by everyone. What form of business organisation is operated by him? a. Sole proprietorship b. Partnership c. Private company d. Public company 13 Identify the third element in the innovation process from the given options. a. Resource organisation b. Commercial application c. Implementation d. Analytical planning 14 As per law, a business and owner are one and same in case of sole proprietorship. What characteristic does this imply? a. No separate legal entity b. Separate legal entity c. Legal entity d. Legal equity 15 What is the minimum paid up capital required to start a private ltd. Company? a. Rs.1,00,000 b. Rs.10,00,000 c. Rs.5,00,000 d. Rs.50,00,000 16 Which is the first stage in the process of innovation? a. Idea germination b. Creativity c. Preparation d. Incubation 17 What is the basic test of a successful entrepreneur? a. Identification of business opportunity 4 b. Identification of a problem c. Identification of target market d. Identification of ways to earn profit 18 ………………. component of a financial plan helps to ascertain the highest possible returns on investment. a. Proforma investment decision b. Proforma income statement c. Proforma cash flow d. Proforma balance sheet 19 Identify the third stage in Opportunity Project Interface. a. Scanning of environment b. Spotting of opportunity c. Starting a project d. Identification of product/service 20 Which form of business organisation can commence business immediately after incorporation? a. Public company b. Private company c. Partnership d. Sole proprietorship 21 What can serve as a basis for formulation of strategies and policies? a. Identifying needs b. Identifying problems c. Identifying strengths and weakness d. Identifying threats and opportunities 22 Sara had established a homemade papad business in Pune. Papads made by her were very popular in her locality but being the sole owner and manager of business, she could neither introduce many flavours because of limited financial resources. Which of the following characteristic of her business, does this situation imply? a. Individual management and control b. Easy formation and closure c. Limited area of operation d. Unlimited liability 23 Which of the following feature applies ONLY to a public company? a. Can Start business after incorporation b. Has a restriction up to 200 members c. Can invite public to subscribe for its shares d. Directors are not required to obtain qualification shares. Page 5 1 SAMPLE QUESTION PAPER (2021-2022) TERM 1 ENTREPRENEURSHIP (066) Time: 90 minutes Max Marks: 35 General Instructions: 1. The Question Paper contains three sections. 2. Section A has 24 questions. Attempt any 20 questions. 3. Section B has 24 questions. Attempt any 20 questions. 4. Section C has 12 questions. Attempt any 10 questions. 5. All questions carry equal marks. 6. There is NO negative marking. SECTION A 1 "One-man control is best in the world if that man is big enough to manage everything." This statement holds true for ____________ form of business organization. a. Private company b. Sole proprietor c. Partnership d. Public company 2 Partnership form of organisation was developed due to the inherent limitations of sole proprietorship. One of them is limited capital, identify the other two? a. Limited managerial ability, limited continuity b. Limited continuity, unlimited liability c. Limited managerial ability, unlimited liability d. Lack of secrecy, limited continuity 3 _______________ section of the business plan generally begins with the "mission statement" by the entrepreneur describing the size, scope and nature of the enterprise. a. Description of business Venture b. Introductory profile c. Industry profile d. Entrepreneur’s biodata 4 A Company is called an artificial person because ____. a. it does not have the shape of a natural person. b. it cannot be sued in the court of law. c. it is invisible and intangible. d. it exists in the eyes of law. 2 5 Which of the following factors does the macro-environment not include? a. Political and regulatory factors. b. Customer needs in a given market. c. Social and demographic factors. d. Technological changes 6 Which of the following formats of business plan is not targeted towards the external stakeholder? a. Elevator pitch b. A pitch deck with oral narrative c. A written presentation for external stakeholders d. An internal operational plan 7 What is the minimum number of members required to start a public company? a. 2 b. 5 c. 7 d. 50 8 A company generally affixes a ………….in most of it’s documents a. Common signature b. Common Seal c. Common affixture d. Common annexure 9 An idea should eventually lead to success of the venture of an entrepreneur. Which among the following ideas will an entrepreneur have to select? a. Basic idea b. Any random idea c. Idea developed before environmental scanning d. Idea developed after environmental scanning 10 (i) Each partner is liable for acts performed by other partners (ii) Each partner can bind other partners and the firm by his acts done in the ordinary course of business. Which feature of partnership is highlighted by these two statements? a. Implied authority b. Utmost good faith c. Mutual Agency d. Agreement 3 11 Nelson started an AC repair shop in his area after doing a diploma course. What idea field is it? a. Market driven b. Trading related c. Service related d. Creative efforts 12 Karan has learnt the art of zardozi work from his grandfather and father. He opened a designer boutique exclusively for bridal wear all by himself. He introduced new designs in his work which is highly appreciated by everyone. What form of business organisation is operated by him? a. Sole proprietorship b. Partnership c. Private company d. Public company 13 Identify the third element in the innovation process from the given options. a. Resource organisation b. Commercial application c. Implementation d. Analytical planning 14 As per law, a business and owner are one and same in case of sole proprietorship. What characteristic does this imply? a. No separate legal entity b. Separate legal entity c. Legal entity d. Legal equity 15 What is the minimum paid up capital required to start a private ltd. Company? a. Rs.1,00,000 b. Rs.10,00,000 c. Rs.5,00,000 d. Rs.50,00,000 16 Which is the first stage in the process of innovation? a. Idea germination b. Creativity c. Preparation d. Incubation 17 What is the basic test of a successful entrepreneur? a. Identification of business opportunity 4 b. Identification of a problem c. Identification of target market d. Identification of ways to earn profit 18 ………………. component of a financial plan helps to ascertain the highest possible returns on investment. a. Proforma investment decision b. Proforma income statement c. Proforma cash flow d. Proforma balance sheet 19 Identify the third stage in Opportunity Project Interface. a. Scanning of environment b. Spotting of opportunity c. Starting a project d. Identification of product/service 20 Which form of business organisation can commence business immediately after incorporation? a. Public company b. Private company c. Partnership d. Sole proprietorship 21 What can serve as a basis for formulation of strategies and policies? a. Identifying needs b. Identifying problems c. Identifying strengths and weakness d. Identifying threats and opportunities 22 Sara had established a homemade papad business in Pune. Papads made by her were very popular in her locality but being the sole owner and manager of business, she could neither introduce many flavours because of limited financial resources. Which of the following characteristic of her business, does this situation imply? a. Individual management and control b. Easy formation and closure c. Limited area of operation d. Unlimited liability 23 Which of the following feature applies ONLY to a public company? a. Can Start business after incorporation b. Has a restriction up to 200 members c. Can invite public to subscribe for its shares d. Directors are not required to obtain qualification shares. 5 24 Which statement is NOT correct about the company form of business organisation? a. Company form of business organisation can be incorporated with a minimum of two members. b. Company has an access to huge capital resources c. Company is a legal person d. Company has a separate legal entity. SECTION B 25 Which of the following examples is not a part of the social environmental factor? a. At the time of Holi, a large number of manufacturing firms get involved in making colours which are used in the celebration of this colourful festival. b. A particular channel refrains from showing the advertisement of a particular product as it is banned by the government. c. The sale of sarees increases in the months of the year when a large number of marriages take place in India. The saree manufacturing companies make special plans of sale for these months. d. a & c only 26 Arvind started his manufacturing unit in Jammu and Kashmir. scarf, both woollen and silk. His business was not picking up in the markets as desired. He found out the reason his scarves were not selling was due to their colour. What could be the best source of this information? a. Manufacturers. b. Retailer. c. Competitors. d. Government bureau. 27 Ramesh starts his day by reading all newspapers and has a keen interest towards all business news and articles. He connects the articles with the observations he has made over the years which he knows will eventually lead to business-boosting insights. Identify the way of trend spotting at this level. a. Read Trend b. Think trend c. Watch trend d. Talk trend 28 Moon Pharma Ltd. manufactures face masks and face shield, amidst the COVID 19 pandemic. The total fixed cost of entire operations is Rs. 1,40,000. Face mask (Per pcs) Face shield (per pcs) Selling price per 30 50Read More
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FAQs on Class 12 Enterpreneurship Official Sample Question Paper (2021-22- Term I) - Entrepreneurship Class 12 - Commerce
| 1. What is the importance of entrepreneurship in the field of commerce? |  |
Ans. Entrepreneurship plays a crucial role in the field of commerce as it promotes economic growth, innovation, and job creation. Entrepreneurs identify opportunities, take risks, and create new businesses, which leads to the development of industries and contributes to the overall growth of the economy.
| 2. What are the key skills required to become a successful entrepreneur? | |
Ans. To become a successful entrepreneur, one needs to possess various key skills such as creativity, leadership, problem-solving, risk-taking, communication, and networking. These skills enable entrepreneurs to identify business opportunities, manage challenges, make effective decisions, and build strong relationships with stakeholders.
| 3. How does entrepreneurship contribute to wealth creation? | |
Ans. Entrepreneurship contributes to wealth creation by creating new businesses and job opportunities. When entrepreneurs start and grow their businesses, they generate income not only for themselves but also for their employees and other stakeholders. Moreover, successful entrepreneurs often invest their profits back into the economy, leading to further economic growth and wealth creation.
| 4. What are the challenges faced by entrepreneurs in the current business environment? | |
Ans. Entrepreneurs face various challenges in the current business environment. Some of these challenges include fierce competition, financial constraints, market volatility, changing consumer preferences, regulatory compliance, and technological advancements. Overcoming these challenges requires entrepreneurs to be adaptable, innovative, and resilient.
| 5. How can entrepreneurship be encouraged and supported in the society? | |
Ans. Entrepreneurship can be encouraged and supported in society through various means. This includes providing access to finance and mentorship programs for aspiring entrepreneurs, creating a supportive regulatory environment, promoting entrepreneurship education in schools and universities, fostering collaboration between entrepreneurs and established businesses, and recognizing and celebrating entrepreneurial success. Such initiatives help create a conducive ecosystem for entrepreneurship to thrive and contribute to economic development.
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