ICSE Business Studies Sample Paper with Solutions - 2025 | ICSE Commerce Class 12 Sample Papers PDF Download

 Page 1


 
---------------------------------------------------------------------------------------------------------------- 
ISC SPECIMEN QUESTION PAPER 2025 
1 
  
 
BUSINESS STUDIES 
 
Maximum Marks: 80 
Time Allotted: Three Hours 
Reading Time: Additional Fifteen Minutes 
 
Instructions to Candidates 
? You are allowed additional fifteen minutes for only reading the question 
paper. 
? You must NOT start writing during reading time. 
? This question paper has 6 printed pages.   
? It is divided into three sections and has 13 questions in all. 
? All questions are compulsory. Answer all questions. 
? Section A has sixteen subparts which are very short answer questions.               
Each question carries 1 mark. 
? While attempting Multiple Choice Questions in Section A, you are 
required to write only ONE option as the answer. 
? Section B has eight questions which are short answer questions.                            
Each question carries 4 marks. 
? Section C has four questions which are long answer questions.                             
Each question carries 8 marks. 
? Internal choices have been provided in two questions in Section B and in          
one question in Section C. 
? The intended marks for questions are given in brackets [ ]. 
 
Instruction to Supervising Examiner 
? Kindly read aloud the Instructions given above to all the candidates present 
in the examination hall. 
 
 
 
Page 2


 
---------------------------------------------------------------------------------------------------------------- 
ISC SPECIMEN QUESTION PAPER 2025 
1 
  
 
BUSINESS STUDIES 
 
Maximum Marks: 80 
Time Allotted: Three Hours 
Reading Time: Additional Fifteen Minutes 
 
Instructions to Candidates 
? You are allowed additional fifteen minutes for only reading the question 
paper. 
? You must NOT start writing during reading time. 
? This question paper has 6 printed pages.   
? It is divided into three sections and has 13 questions in all. 
? All questions are compulsory. Answer all questions. 
? Section A has sixteen subparts which are very short answer questions.               
Each question carries 1 mark. 
? While attempting Multiple Choice Questions in Section A, you are 
required to write only ONE option as the answer. 
? Section B has eight questions which are short answer questions.                            
Each question carries 4 marks. 
? Section C has four questions which are long answer questions.                             
Each question carries 8 marks. 
? Internal choices have been provided in two questions in Section B and in          
one question in Section C. 
? The intended marks for questions are given in brackets [ ]. 
 
Instruction to Supervising Examiner 
? Kindly read aloud the Instructions given above to all the candidates present 
in the examination hall. 
 
 
 
 
---------------------------------------------------------------------------------------------------------------- 
ISC SPECIMEN QUESTION PAPER 2025 
2 
SECTION A – 16 MARKS 
Question 1  
(i) In order to adapt to changing work dynamics and provide flexibility to its 
employees, ABC Consulting Pvt. Ltd. decided to allocate a project to a group 
comprising employees in geographically dispersed settings. 
Identify the emerging trend in Human Resources used by the ABC Consulting 
Pvt. Ltd.                                                                                                 (Understanding) 
[1] 
(ii) Which characteristic of Human Resource Management deals with providing 
competent employees to an organisation, both now and in the future?     
(Recall)                                                                                     
[1] 
(iii) Observe the relation between the first two words and then fill in the fourth 
word.                                                                                                    (Analysis)   
[2] 
 (a) Recruitment: Positive :: Selection: ___________.                             
 (b) Verbal communication : Oral communication :: Non verbal 
communication: ___________. 
 
(iv) As per Maslow’s classification of Human Needs, safety needs consist of 
physical safety and ______________ safety.                                        (Recall) 
[1] 
(v) The Partnership Act limits the maximum number of partners in a non-banking 
partnership firm to _________________.                                            (Recall) 
[1] 
(vi) On the basis of _____________, Communication may be classified as 
internal and external.                                                              (Understanding) 
[1] 
(vii) ________________ method of Performance Appraisal eliminates the 
subjective bias on the part of raters.                                       (Understanding) 
[1] 
(viii) 
Casual leave is a type of leave granted to an employee that can be availed in 
an unexpected situation or an unforeseen event. 
Select the MOST APPROPRIATE instance for casual leave.                                                                           
(Application) 
[1] 
 (a) Mr. Aggarwal avails one week leave to take care of his wife who is in 
her last week of pregnancy. 
 
 (b) Ms. Khan takes one day leave to take her mother to the hospital as she 
had slipped and injured herself. 
 
 (c) Mr. D’Mello takes three days leave for his knee replacement surgery.  
 (d) Ms. Prabhjot takes four days leave to visit her parents in the village.  
(ix) Mr. Rathi, CEO of a firm, frequently travels for work related to business. 
However, he ensures that he is present in office every Monday to monitor 
business operations. On his arrival, his personal assistant, Mr. Varma has to 
submit a report on the working of the previous week.   
Which one of the following reports does Mr. Varma submit?        
(Understanding) 
[1] 
 (a) Routine Report  
 (b) Special Report  
Page 3


 
---------------------------------------------------------------------------------------------------------------- 
ISC SPECIMEN QUESTION PAPER 2025 
1 
  
 
BUSINESS STUDIES 
 
Maximum Marks: 80 
Time Allotted: Three Hours 
Reading Time: Additional Fifteen Minutes 
 
Instructions to Candidates 
? You are allowed additional fifteen minutes for only reading the question 
paper. 
? You must NOT start writing during reading time. 
? This question paper has 6 printed pages.   
? It is divided into three sections and has 13 questions in all. 
? All questions are compulsory. Answer all questions. 
? Section A has sixteen subparts which are very short answer questions.               
Each question carries 1 mark. 
? While attempting Multiple Choice Questions in Section A, you are 
required to write only ONE option as the answer. 
? Section B has eight questions which are short answer questions.                            
Each question carries 4 marks. 
? Section C has four questions which are long answer questions.                             
Each question carries 8 marks. 
? Internal choices have been provided in two questions in Section B and in          
one question in Section C. 
? The intended marks for questions are given in brackets [ ]. 
 
Instruction to Supervising Examiner 
? Kindly read aloud the Instructions given above to all the candidates present 
in the examination hall. 
 
 
 
 
---------------------------------------------------------------------------------------------------------------- 
ISC SPECIMEN QUESTION PAPER 2025 
2 
SECTION A – 16 MARKS 
Question 1  
(i) In order to adapt to changing work dynamics and provide flexibility to its 
employees, ABC Consulting Pvt. Ltd. decided to allocate a project to a group 
comprising employees in geographically dispersed settings. 
Identify the emerging trend in Human Resources used by the ABC Consulting 
Pvt. Ltd.                                                                                                 (Understanding) 
[1] 
(ii) Which characteristic of Human Resource Management deals with providing 
competent employees to an organisation, both now and in the future?     
(Recall)                                                                                     
[1] 
(iii) Observe the relation between the first two words and then fill in the fourth 
word.                                                                                                    (Analysis)   
[2] 
 (a) Recruitment: Positive :: Selection: ___________.                             
 (b) Verbal communication : Oral communication :: Non verbal 
communication: ___________. 
 
(iv) As per Maslow’s classification of Human Needs, safety needs consist of 
physical safety and ______________ safety.                                        (Recall) 
[1] 
(v) The Partnership Act limits the maximum number of partners in a non-banking 
partnership firm to _________________.                                            (Recall) 
[1] 
(vi) On the basis of _____________, Communication may be classified as 
internal and external.                                                              (Understanding) 
[1] 
(vii) ________________ method of Performance Appraisal eliminates the 
subjective bias on the part of raters.                                       (Understanding) 
[1] 
(viii) 
Casual leave is a type of leave granted to an employee that can be availed in 
an unexpected situation or an unforeseen event. 
Select the MOST APPROPRIATE instance for casual leave.                                                                           
(Application) 
[1] 
 (a) Mr. Aggarwal avails one week leave to take care of his wife who is in 
her last week of pregnancy. 
 
 (b) Ms. Khan takes one day leave to take her mother to the hospital as she 
had slipped and injured herself. 
 
 (c) Mr. D’Mello takes three days leave for his knee replacement surgery.  
 (d) Ms. Prabhjot takes four days leave to visit her parents in the village.  
(ix) Mr. Rathi, CEO of a firm, frequently travels for work related to business. 
However, he ensures that he is present in office every Monday to monitor 
business operations. On his arrival, his personal assistant, Mr. Varma has to 
submit a report on the working of the previous week.   
Which one of the following reports does Mr. Varma submit?        
(Understanding) 
[1] 
 (a) Routine Report  
 (b) Special Report  
 
---------------------------------------------------------------------------------------------------------------- 
ISC SPECIMEN QUESTION PAPER 2025 
3 
 (c) Statutory Report  
 (d) Public Report  
(x) Staff dismissal involves permanent separation of an employee from the 
payroll. It is a drastic step and should therefore be resorted to with great care. 
Which one of the following situations indicates staff dismissal? 
(Application)  
[1] 
 (a)  When an employee has reached the age of superannuation.     
 (b)  When an employee fails to work according to the job requirements.  
 (c) When there is an acute shortage of raw material to continue work in the 
factory. 
 
 (d) When the employer relieves certain employees to reduce the cost of 
production.  
 
(xi) Read the two statements given below and choose the correct option. 
Statement I: In order to ensure effective learning, a teacher must minimise the 
barriers to communication. 
Statement II: Communication is incomplete without feedback.        
(Analysis) 
[1] 
 (a) Statement I is true but Statement II is false.  
 (b) Statement I is false but Statement II is true.  
 
(c) Both Statement I and Statement II are true, and Statement II is the correct 
explanation for Statement I. 
 
 
(d) Both Statement I and Statement II are true. But Statement II is not the 
correct explanation for Statement I. 
 
(xii) State whether the following are True or False:  
 (a) SEBI regulates the prices of the securities listed in the market. 
(Understanding)  
[1] 
 (b) 
A public deposit is a deposit made by public in the nationalised banks.                                                                          
(Understanding) 
[1] 
 (c) Human Resource Management is significant to an enterprise since it 
provides psychological satisfaction to people.              (Understanding) 
[1] 
 (d) Venture Capital is one of the primary sources of finance for Start-ups. 
(Recall) 
[1] 
SECTION B – 32 MARKS 
Question 2 [4] 
(i) Briefly explain any two limitations of e-Recruitment as a source of Staff 
Recruitment.                                                                              (Understanding) 
 
OR  
(ii) Briefly explain any two barriers to Communication.             (Understanding)  
 
Page 4


 
---------------------------------------------------------------------------------------------------------------- 
ISC SPECIMEN QUESTION PAPER 2025 
1 
  
 
BUSINESS STUDIES 
 
Maximum Marks: 80 
Time Allotted: Three Hours 
Reading Time: Additional Fifteen Minutes 
 
Instructions to Candidates 
? You are allowed additional fifteen minutes for only reading the question 
paper. 
? You must NOT start writing during reading time. 
? This question paper has 6 printed pages.   
? It is divided into three sections and has 13 questions in all. 
? All questions are compulsory. Answer all questions. 
? Section A has sixteen subparts which are very short answer questions.               
Each question carries 1 mark. 
? While attempting Multiple Choice Questions in Section A, you are 
required to write only ONE option as the answer. 
? Section B has eight questions which are short answer questions.                            
Each question carries 4 marks. 
? Section C has four questions which are long answer questions.                             
Each question carries 8 marks. 
? Internal choices have been provided in two questions in Section B and in          
one question in Section C. 
? The intended marks for questions are given in brackets [ ]. 
 
Instruction to Supervising Examiner 
? Kindly read aloud the Instructions given above to all the candidates present 
in the examination hall. 
 
 
 
 
---------------------------------------------------------------------------------------------------------------- 
ISC SPECIMEN QUESTION PAPER 2025 
2 
SECTION A – 16 MARKS 
Question 1  
(i) In order to adapt to changing work dynamics and provide flexibility to its 
employees, ABC Consulting Pvt. Ltd. decided to allocate a project to a group 
comprising employees in geographically dispersed settings. 
Identify the emerging trend in Human Resources used by the ABC Consulting 
Pvt. Ltd.                                                                                                 (Understanding) 
[1] 
(ii) Which characteristic of Human Resource Management deals with providing 
competent employees to an organisation, both now and in the future?     
(Recall)                                                                                     
[1] 
(iii) Observe the relation between the first two words and then fill in the fourth 
word.                                                                                                    (Analysis)   
[2] 
 (a) Recruitment: Positive :: Selection: ___________.                             
 (b) Verbal communication : Oral communication :: Non verbal 
communication: ___________. 
 
(iv) As per Maslow’s classification of Human Needs, safety needs consist of 
physical safety and ______________ safety.                                        (Recall) 
[1] 
(v) The Partnership Act limits the maximum number of partners in a non-banking 
partnership firm to _________________.                                            (Recall) 
[1] 
(vi) On the basis of _____________, Communication may be classified as 
internal and external.                                                              (Understanding) 
[1] 
(vii) ________________ method of Performance Appraisal eliminates the 
subjective bias on the part of raters.                                       (Understanding) 
[1] 
(viii) 
Casual leave is a type of leave granted to an employee that can be availed in 
an unexpected situation or an unforeseen event. 
Select the MOST APPROPRIATE instance for casual leave.                                                                           
(Application) 
[1] 
 (a) Mr. Aggarwal avails one week leave to take care of his wife who is in 
her last week of pregnancy. 
 
 (b) Ms. Khan takes one day leave to take her mother to the hospital as she 
had slipped and injured herself. 
 
 (c) Mr. D’Mello takes three days leave for his knee replacement surgery.  
 (d) Ms. Prabhjot takes four days leave to visit her parents in the village.  
(ix) Mr. Rathi, CEO of a firm, frequently travels for work related to business. 
However, he ensures that he is present in office every Monday to monitor 
business operations. On his arrival, his personal assistant, Mr. Varma has to 
submit a report on the working of the previous week.   
Which one of the following reports does Mr. Varma submit?        
(Understanding) 
[1] 
 (a) Routine Report  
 (b) Special Report  
 
---------------------------------------------------------------------------------------------------------------- 
ISC SPECIMEN QUESTION PAPER 2025 
3 
 (c) Statutory Report  
 (d) Public Report  
(x) Staff dismissal involves permanent separation of an employee from the 
payroll. It is a drastic step and should therefore be resorted to with great care. 
Which one of the following situations indicates staff dismissal? 
(Application)  
[1] 
 (a)  When an employee has reached the age of superannuation.     
 (b)  When an employee fails to work according to the job requirements.  
 (c) When there is an acute shortage of raw material to continue work in the 
factory. 
 
 (d) When the employer relieves certain employees to reduce the cost of 
production.  
 
(xi) Read the two statements given below and choose the correct option. 
Statement I: In order to ensure effective learning, a teacher must minimise the 
barriers to communication. 
Statement II: Communication is incomplete without feedback.        
(Analysis) 
[1] 
 (a) Statement I is true but Statement II is false.  
 (b) Statement I is false but Statement II is true.  
 
(c) Both Statement I and Statement II are true, and Statement II is the correct 
explanation for Statement I. 
 
 
(d) Both Statement I and Statement II are true. But Statement II is not the 
correct explanation for Statement I. 
 
(xii) State whether the following are True or False:  
 (a) SEBI regulates the prices of the securities listed in the market. 
(Understanding)  
[1] 
 (b) 
A public deposit is a deposit made by public in the nationalised banks.                                                                          
(Understanding) 
[1] 
 (c) Human Resource Management is significant to an enterprise since it 
provides psychological satisfaction to people.              (Understanding) 
[1] 
 (d) Venture Capital is one of the primary sources of finance for Start-ups. 
(Recall) 
[1] 
SECTION B – 32 MARKS 
Question 2 [4] 
(i) Briefly explain any two limitations of e-Recruitment as a source of Staff 
Recruitment.                                                                              (Understanding) 
 
OR  
(ii) Briefly explain any two barriers to Communication.             (Understanding)  
 
 
---------------------------------------------------------------------------------------------------------------- 
ISC SPECIMEN QUESTION PAPER 2025 
4 
Question 3  
With reference to staff selection, explain the significance of the following. 
(Understanding) 
 
(i) Application Blank [2] 
(ii) Placement [2] 
 
 
Question 4 [4] 
State any four requirements of a sound promotion policy.                             (Recall)  
 
 
Question 5 [4] 
(i) Distinguish between Authoritative and Democratic styles of Leadership on 
the following basis:                                                                            (Analysis) 
 
 (a) Effect on motivation and morale  
 (b) Development of subordinates  
 (c) Speed of work  
 (d) Resistance to change  
OR  
(ii) Distinguish between Piece rate system and Time rate system of remuneration 
on the following basis:                                                                      (Analysis)                                   
 
 (a) Quality of work  
 (b) Wastage of resources  
 (c) Attitude of Trade Unions  
 (d) Weightage to efficiency  
 
 
Question 6  
What is meant by the following terms with reference to the sources of finance?                                                                                                        
(Understanding)   
 
(i) Peer to peer Funding [2] 
(ii) Factoring [2] 
 
 
Question 7  
Briefly outline the role of Job Analysis in the following processes.              
(Understanding) 
 
(i) Recruitment and Selection [2] 
(ii) Training and Development [2] 
Page 5


 
---------------------------------------------------------------------------------------------------------------- 
ISC SPECIMEN QUESTION PAPER 2025 
1 
  
 
BUSINESS STUDIES 
 
Maximum Marks: 80 
Time Allotted: Three Hours 
Reading Time: Additional Fifteen Minutes 
 
Instructions to Candidates 
? You are allowed additional fifteen minutes for only reading the question 
paper. 
? You must NOT start writing during reading time. 
? This question paper has 6 printed pages.   
? It is divided into three sections and has 13 questions in all. 
? All questions are compulsory. Answer all questions. 
? Section A has sixteen subparts which are very short answer questions.               
Each question carries 1 mark. 
? While attempting Multiple Choice Questions in Section A, you are 
required to write only ONE option as the answer. 
? Section B has eight questions which are short answer questions.                            
Each question carries 4 marks. 
? Section C has four questions which are long answer questions.                             
Each question carries 8 marks. 
? Internal choices have been provided in two questions in Section B and in          
one question in Section C. 
? The intended marks for questions are given in brackets [ ]. 
 
Instruction to Supervising Examiner 
? Kindly read aloud the Instructions given above to all the candidates present 
in the examination hall. 
 
 
 
 
---------------------------------------------------------------------------------------------------------------- 
ISC SPECIMEN QUESTION PAPER 2025 
2 
SECTION A – 16 MARKS 
Question 1  
(i) In order to adapt to changing work dynamics and provide flexibility to its 
employees, ABC Consulting Pvt. Ltd. decided to allocate a project to a group 
comprising employees in geographically dispersed settings. 
Identify the emerging trend in Human Resources used by the ABC Consulting 
Pvt. Ltd.                                                                                                 (Understanding) 
[1] 
(ii) Which characteristic of Human Resource Management deals with providing 
competent employees to an organisation, both now and in the future?     
(Recall)                                                                                     
[1] 
(iii) Observe the relation between the first two words and then fill in the fourth 
word.                                                                                                    (Analysis)   
[2] 
 (a) Recruitment: Positive :: Selection: ___________.                             
 (b) Verbal communication : Oral communication :: Non verbal 
communication: ___________. 
 
(iv) As per Maslow’s classification of Human Needs, safety needs consist of 
physical safety and ______________ safety.                                        (Recall) 
[1] 
(v) The Partnership Act limits the maximum number of partners in a non-banking 
partnership firm to _________________.                                            (Recall) 
[1] 
(vi) On the basis of _____________, Communication may be classified as 
internal and external.                                                              (Understanding) 
[1] 
(vii) ________________ method of Performance Appraisal eliminates the 
subjective bias on the part of raters.                                       (Understanding) 
[1] 
(viii) 
Casual leave is a type of leave granted to an employee that can be availed in 
an unexpected situation or an unforeseen event. 
Select the MOST APPROPRIATE instance for casual leave.                                                                           
(Application) 
[1] 
 (a) Mr. Aggarwal avails one week leave to take care of his wife who is in 
her last week of pregnancy. 
 
 (b) Ms. Khan takes one day leave to take her mother to the hospital as she 
had slipped and injured herself. 
 
 (c) Mr. D’Mello takes three days leave for his knee replacement surgery.  
 (d) Ms. Prabhjot takes four days leave to visit her parents in the village.  
(ix) Mr. Rathi, CEO of a firm, frequently travels for work related to business. 
However, he ensures that he is present in office every Monday to monitor 
business operations. On his arrival, his personal assistant, Mr. Varma has to 
submit a report on the working of the previous week.   
Which one of the following reports does Mr. Varma submit?        
(Understanding) 
[1] 
 (a) Routine Report  
 (b) Special Report  
 
---------------------------------------------------------------------------------------------------------------- 
ISC SPECIMEN QUESTION PAPER 2025 
3 
 (c) Statutory Report  
 (d) Public Report  
(x) Staff dismissal involves permanent separation of an employee from the 
payroll. It is a drastic step and should therefore be resorted to with great care. 
Which one of the following situations indicates staff dismissal? 
(Application)  
[1] 
 (a)  When an employee has reached the age of superannuation.     
 (b)  When an employee fails to work according to the job requirements.  
 (c) When there is an acute shortage of raw material to continue work in the 
factory. 
 
 (d) When the employer relieves certain employees to reduce the cost of 
production.  
 
(xi) Read the two statements given below and choose the correct option. 
Statement I: In order to ensure effective learning, a teacher must minimise the 
barriers to communication. 
Statement II: Communication is incomplete without feedback.        
(Analysis) 
[1] 
 (a) Statement I is true but Statement II is false.  
 (b) Statement I is false but Statement II is true.  
 
(c) Both Statement I and Statement II are true, and Statement II is the correct 
explanation for Statement I. 
 
 
(d) Both Statement I and Statement II are true. But Statement II is not the 
correct explanation for Statement I. 
 
(xii) State whether the following are True or False:  
 (a) SEBI regulates the prices of the securities listed in the market. 
(Understanding)  
[1] 
 (b) 
A public deposit is a deposit made by public in the nationalised banks.                                                                          
(Understanding) 
[1] 
 (c) Human Resource Management is significant to an enterprise since it 
provides psychological satisfaction to people.              (Understanding) 
[1] 
 (d) Venture Capital is one of the primary sources of finance for Start-ups. 
(Recall) 
[1] 
SECTION B – 32 MARKS 
Question 2 [4] 
(i) Briefly explain any two limitations of e-Recruitment as a source of Staff 
Recruitment.                                                                              (Understanding) 
 
OR  
(ii) Briefly explain any two barriers to Communication.             (Understanding)  
 
 
---------------------------------------------------------------------------------------------------------------- 
ISC SPECIMEN QUESTION PAPER 2025 
4 
Question 3  
With reference to staff selection, explain the significance of the following. 
(Understanding) 
 
(i) Application Blank [2] 
(ii) Placement [2] 
 
 
Question 4 [4] 
State any four requirements of a sound promotion policy.                             (Recall)  
 
 
Question 5 [4] 
(i) Distinguish between Authoritative and Democratic styles of Leadership on 
the following basis:                                                                            (Analysis) 
 
 (a) Effect on motivation and morale  
 (b) Development of subordinates  
 (c) Speed of work  
 (d) Resistance to change  
OR  
(ii) Distinguish between Piece rate system and Time rate system of remuneration 
on the following basis:                                                                      (Analysis)                                   
 
 (a) Quality of work  
 (b) Wastage of resources  
 (c) Attitude of Trade Unions  
 (d) Weightage to efficiency  
 
 
Question 6  
What is meant by the following terms with reference to the sources of finance?                                                                                                        
(Understanding)   
 
(i) Peer to peer Funding [2] 
(ii) Factoring [2] 
 
 
Question 7  
Briefly outline the role of Job Analysis in the following processes.              
(Understanding) 
 
(i) Recruitment and Selection [2] 
(ii) Training and Development [2] 
 
---------------------------------------------------------------------------------------------------------------- 
ISC SPECIMEN QUESTION PAPER 2025 
5 
Question 8  
 
 
 
 
 
 
 
 
 
 
(i) Identify elements a, b, c and d in the communication process.       
(Understanding) 
[2] 
(ii) Evaluate the significance of element ‘e’ in the communication process.                                                                                                     
(Analysis) 
[2] 
 
 
Question 9 [4] 
ABC Ltd., a well-known IT firm has opened a new branch in Ahmednagar. In order 
to maintain their standards, the Company is committed to hiring the best brains in 
the field.  
As the HR Manager of ABC Ltd., suggest any two strategies that the firm can use to 
attract suitable candidates. Justify your suggestion.                                         (Evaluate)   
 
SECTION C – 32 MARKS 
Question 10 [8] 
(i) Name and explain any two types of training.                        (Understanding)  
(ii) Draw a specimen of a payslip.                                                                     (Recall)    
 
 
Question 11  
(i) Briefly explain the following:                                                            (Understanding)  
 (a) Outsourcing                                                                  [2] 
 (b) e-business                                                                      [2] 
 (c) Globalisation                                                                [2] 
 (d) Communication                                                           [2] 
 OR  
Elements of Communication Process