**Important Questions for B.Com (Hons) 1st Semester**

1. **What is Accounting?**
- Define accounting and explain its role in business.
- Discuss the importance of accounting information for decision-making.
- Explain the basic principles and concepts of accounting.

2. **What are the Different Types of Business Organizations?**
- Differentiate between sole proprietorship, partnership, and corporation.
- Discuss the advantages and disadvantages of each type of business organization.
- Explain the legal and regulatory requirements for setting up different types of businesses.

3. **What is Financial Management?**
- Define financial management and its significance in a business.
- Discuss the objectives and functions of financial management.
- Explain the key financial decisions made by a financial manager.

4. **What is Microeconomics?**
- Define microeconomics and its scope in analyzing individual economic units.
- Discuss the concepts of demand and supply and their determinants.
- Explain the theory of consumer behavior and utility maximization.

5. **What is Business Mathematics and Statistics?**
- Discuss the importance of mathematics and statistics in business decision-making.
- Explain the concepts of sets, relations, and functions.
- Discuss various statistical measures and their applications in business.

6. **What is Business Law?**
- Define business law and its relevance to business operations.
- Discuss the Indian Contract Act and its key provisions.
- Explain the essentials of a valid contract and the different types of contracts.

7. **What is Business Communication?**
- Define business communication and its role in effective business operations.
- Discuss the different types and methods of communication in a business environment.
- Explain the principles of effective business writing and oral communication.

8. **What is Business Economics?**
- Define business economics and its application in business decision-making.
- Discuss the concepts of demand and supply elasticity.
- Explain the different market structures and their characteristics.

9. **What is Financial Accounting?**
- Define financial accounting and its role in recording and reporting financial information.
- Discuss the accounting principles and standards followed in financial accounting.
- Explain the preparation and interpretation of financial statements.

10. **What is Business Statistics?**
- Define business statistics and its significance in analyzing business data.
- Discuss the different methods of data collection and presentation.
- Explain the measures of central tendency and dispersion in business statistics.

Remember, these questions are just a starting point for your studies. It is important to refer to your course materials, textbooks, and other resources recommended by your university for a comprehensive understanding of the topics.