Class 12 Entrepreneurship: CBSE Sample Question Paper (2022-23) - 2 | Sample Papers for Class 12 Commerce PDF Download

 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 50