\n3. Example: Solar energy, Hydel energy, Wind energy, Biogas energy etc.<\/td>\n | \n 3. Example: Coal, Petroleum, Natural gas, etc.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n (c)<\/strong><\/p>\n\n\n\nApprenticeship<\/strong><\/td>\nInternship<\/strong><\/td>\n<\/tr>\n\nThis method is used in technical trades and crafts in which a long period is required to become proficient.<\/td>\n | This is a joint programme of training in which business houses collaborate with technical institutions.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n (d)<\/strong><\/p>\n\n\n\nDirect Cost<\/strong><\/td>\nIndirect Cost<\/strong><\/td>\n<\/tr>\n\nDirect cost are those costs which can be easily, directly and wholly related to a particular cost unit on cost centre.<\/td>\n | Indirect costs are those costs which cannot be identified easily, directly and wholly with a particular cost unit or cost centre.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n (e)<\/strong><\/p>\n\n\n\nCash Credit<\/strong><\/td>\nOverdraft<\/strong><\/td>\n<\/tr>\n\nCash Credit means an arrangement under which the bank advances cash loans to the borrower against some tangible security or personal guarantee.<\/td>\n | Overdraft means an arrangement under which the bank allows a current account holder to withdraw more than the balance to his credit upto the specified limit against some tangible security or personal guarantee.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Question 2:<\/strong> \n(a)<\/strong> What are convenience products? Give two examples.\u00a0[2]<\/strong> \n(b)<\/strong> What is understood by the Going Concern Concept of Accounting?\u00a0[2]<\/strong> \n(e)<\/strong> Mention any four causes of the Greenhouse Effect.\u00a0[2]<\/strong> \n(d)<\/strong> What are the advantages of\u2018Account Payee\u2019 crossing of a cheque?\u00a0[2]<\/strong> \n(e)<\/strong> What is a \u2018Recurring Deposit Account\u2019?\u00a0[2]<\/strong><\/p>\nAnswer:<\/strong> \n(a) Convenience Products:<\/strong> The products which customer purchases for personal convenience and are purchased frequently, immediately and with minimum efforts, are known as convenience products. For example, news-paper, cigarettes etc. \n(b)<\/strong> In going concern concept of accounting, it is assumed that the business will continue to exist for a long time in the future. A firm is said to be a going concern when there is neither the intention nor the necessity to wind up its affairs. This concept also implies that the existing liabilities will be paid at maturity. Unsold stock of goods are taken to the next year. \n(c)<\/strong> Four causes of greenhouse effect are: Carbon dioxide, Water vapour, Methane and Ozone. \n(d)<\/strong> Advantage of \u2018Account Payee\u2019crossing of a cheque is:<\/p>\n\n- To prevent fraudulent encashment.<\/li>\n
- Crossing provides a protection or safeguard against loss to the securing payment through a bank.<\/li>\n<\/ol>\n
(e)<\/strong> Recurring Deposit Account:<\/strong> In this account, the account holder is required to deposit a specific amount every month for a specified period of time. After the expiry of the specified period, the depositer gets back his total deposit amount with interest thereon. A pass book is issued to the depositer but no cheque book is issued.<\/p>\nQuestion 3:<\/strong> \n(a)<\/strong> Explain any two qualities of a good salesman. [2]<\/strong> \n(b)<\/strong> What are Open Market Operations of a Central Bank? [2]<\/strong> \n(c)<\/strong> Why are interviews an essential part of the selection procedure? [2]<\/strong> \n(d)<\/strong> What is \u2018Indirect Labour Cost\u2019? [2]<\/strong> \n(e)<\/strong> Mention any two features of a Balance Sheet. [2]<\/strong><\/p>\nAnswer:<\/strong> \n(a)<\/strong> Two qualities of a salesman:<\/strong><\/p>\n\n- Cheerful:<\/strong> Pleasing manners and a smiling face are necessary for a successful salesman. He should be polite and courteous.<\/li>\n
- Sensitive:<\/strong> A good salesman should be sensitive to the needs and expectations of customers. He is a good listener and has patience.<\/li>\n
- Knowledgeable:<\/strong> A good salesman should have adequate and up-to-date knowledge about his firm, product, market, competitors and customers.
\n(any two)<\/li>\n<\/ol>\n(b)<\/strong> Open Market Operations:<\/strong> The open market operations mean the sale and purchase of securities by the central bank in the open market. When the central bank wants to reduce the volume of credit, it sells securities in the market. Similarly, when the central bank wants to expand credit, it buys securities in the open market. This increases the money supply in the banking system. \n(c)<\/strong> Interviews are essential part of the selection procedure because employer can judge the candidate\u2019s suitability for a job by assessing his\/her facial expression, postures, gestures and speaking skills. Interviews are also beneficial !to the candidate as he\/she gets the opportunity to know about the job and the organisation. \n(d)<\/strong> Indirect labour cost is the wages paid to the labour which indirectly helps in the production process, which cannot be wholly and directly identified with a particular product. \nExample: Wages paid to storekeeper, foreman, timekeeper, inspectors. \n(e)<\/strong> Features of Balance Sheet:<\/strong><\/p>\n\n- A Balance Sheet is always prepared on a particular date.<\/li>\n
- It is prepared after the preparation of Income and Expenditure account.<\/li>\n
- It is not an account but a statement.<\/li>\n
- It shows the financial position on a specified date.<\/li>\n
- Assets are shown on the right hand side and liabilities are shown on the left hand side.<\/li>\n
- It contains personal and real accounts and the net result of nominal account. \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(any two)<\/li>\n<\/ol>\n
Question 4:<\/strong> \nJustify a reason either for or against each of the following:<\/strong> \n(a)<\/strong> On the job training includes practical and theoretical learning. [2]<\/strong> \n(b)<\/strong> A demand draft is preferable to a cheque. [2]<\/strong> \n(c)<\/strong> Central Bank is the \u2018lender of last resort\u2019. [2]<\/strong> \n(d)<\/strong> Training is related to improving skills for performing a job. [2]<\/strong> \n(e)<\/strong> In a competitive market, parity pricing is the appropriate strategy. [2]<\/strong><\/p>\nAnswer:<\/strong> \n (a)<\/strong> Against:<\/strong> Under on the job training, employees are assigned a specific job and they learn by performing the job in actual work condition. \n(b)<\/strong> For:<\/strong> A demand draft is preferable to a cheque because it is payable to the person named in it or to his order. It is always payable on demand and is, therefore known as \u2018demand draft\u2019. \n(c)<\/strong> For:<\/strong> The Central Bank acts as the bank for all commercial banks in the country. Commercial banks are required to keep a cash reserve with the Central Bank so as to control credit in the country. \nWhen a commercial bank needs funds it can obtain loans and rediscount to bills with the Central Bank. \n(d) For:<\/strong> Training increases adaptability of employees to new methods and new technology. It helps the employees to do the job more efficiently. \n(e) For:<\/strong> Parity-pricing involves charging according to what competitors are charging. Under this pricing strategy a business firm adjusts its own price policy to the general pricing structure in the industry.<\/p>\nSection – B (60 Marks)<\/strong><\/span> \n(Attempt any four<\/strong> questions from this section)<\/em><\/p>\nQuestion 5:<\/strong> \n(a)<\/strong> Explain \u2018Sales-Oriented Stage\u2019 and \u2018Marketing-Oriented Stage\u2019 of Marketing. [5]<\/strong> \n(b)<\/strong> Why is Service becoming more important than a Product? Give five reasons. [5]<\/strong> \n(c)<\/strong> Explain any five steps generally involved in the selection of employees. [5]<\/strong><\/p>\nAnswer:<\/strong> \n (a)<\/strong> Sales Oriented Stage:<\/strong> In this stage, the focus shifted from production to selling. \u2018How to Sell\u2019 became a problem and the new motto was \u2018get rid of what you have\u2019. Products cannot be sold without an effective sales force. It required emphasis on increasing the sales even at the cost of consumer satisfaction. Thus, the sales-oriented stage was characterised by hard selling. The sales concept paid little attention to whether the product was actually needed or not. \nMarketing-oriented Stage:<\/strong> A company philosophy focused on discovering and meeting the needs and desires of its customers through its product mix. Consumer awareness forced the producers to promote marketing. The aim of marketing should be to know and understand the customer so well that the product or service fits him or her and thus sells itself. In this stage the key questions became: \nWhat do customers want? \nHow can we develop it? \nHow can we keep our customers satisfied?<\/p>\n(b)<\/strong> Service is becoming more important than a Product because:<\/strong><\/p>\n\n- Economic Planning:<\/strong> Government of India launched five year plans in 1951 to achieve rapid growth of the country. Industrialisation requires industrial infrastructure (transport, communication, power, insurance, banking, finance etc.) and social infrastructure (education, medical facilities, community services etc.). Therefore, these services have expanded rapidly in the country.<\/li>\n
- Increasing Urbanisation:<\/strong> Urbanisation has been another cause of expansion of Service sector in India. There has been shifting of population from rural to urban areas. Urbanisation leads to rise in demand for infrastructure services such as communications, public utilities and distribution services.<\/li>\n
- Media:<\/strong> Television, internet and other media have led to spurt in tourism. Modem technology has made business more comfortable. Tourism in turn has promoted all types of services such as hotel, restaurants, travel agents, amusement parks, event management etc. Expanding world trade has also had a demonstration effect.<\/li>\n
- Rise in Per Capita Income:<\/strong> Growing per capita income has led to demand for new and better services. Interior decoration, garden care, beauty parlours, slimming centres, health clubs etc. are examples of these services. More leisure time creates demand for recreation and
\nentertainment services such as water parks, etc.<\/li>\n- Women Workforce:<\/strong> Higher percentage of women in workforce has created demand for baby sitting, household domestic help and such other personal services.<\/li>\n<\/ol>\n
(c)<\/strong> Various stages of the Selection Process of employees in an organisation are:<\/strong><\/p>\n\n- Preliminary Interview:<\/strong> This is the first step in the process of selection which is conducted to know the minimum qualification, experience and age of the candidates.<\/li>\n
- Application Form:<\/strong> After qualifying Preliminary interview the candidates are asked to fill in the prescribed application form to get the written details of the candidates.<\/li>\n
- Employment Test:<\/strong> This is conducted to check the required skills in the candidates.<\/li>\n
- Selection Interview:<\/strong> It is a method of checking the information obtained through application and employment test, through face to face communication with the candidates. It also helps the candidate to acquire knowledge about the job details and the company.<\/li>\n
- Checking References:<\/strong> It is the process of verifying the names given by the candidate, of the people who knows about him, his previous job and his character.<\/li>\n
- Medical Determination and Final Approval:<\/strong> A medical test is conducted to ensure the physical fitness of the candidate which leads to the final approval. The finally approved candidate are issued appointment letters. \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(any five)<\/li>\n<\/ol>\n
Question 6:<\/strong> \n(a)<\/strong> Explain the five consumer rights as per the Consumer Protection Act, 1986. [5]<\/strong> \n(b)<\/strong> Explain any two elements of Public Relations. [5]<\/strong> \n(c)<\/strong> \u2018All vacancies at various levels in an organisation cannot be filled through an internal sources of recruitment\u2019. \nExplain any five external sources of recruitment. [5]<\/strong><\/p>\nAnswer:<\/strong> \n(a)<\/strong> The Consumer Protection Act provides for the following rights of consumer:<\/p>\n\n- The right of safety:<\/strong> This is the right to be protected against the marketing of goods which are hazardous to life and property. There are various risks involved in the consumption and use of products, such as food, drugs, toys, electrical appliances, etc. For example, gas cylinder, if not sealed properly may cause injury or even death. The consumers have the right to get protection against such risks.<\/li>\n
- The right to choose:<\/strong> The consumer should be assured access to a variety of goods at competitive prices. This means the seller should not use aggressive selling techniques to sell the product to the consumer. There should be freedom to choose from alternative products. This requires free competition in the market. If enough varieties of products at competitive prices are available in the market, consumers have the opportunity to make a free choice.<\/li>\n
- The right to be informed:<\/strong> The consumer has the right to be informed about the quality, potency, purity, standard and price of the goods he intends to pin-chase.<\/li>\n
- The right to be heard:<\/strong> The consumer has a right to register his dissatisfaction and get his complaint heard at appropriate forums. This right includes the right to make protest. The above three rights are meaningless without the right to be heard. Therefore, grievances and claims of consumers must be heard and considered.<\/li>\n
- The right to seek redressal:<\/strong> It means the right to get claims and complaints settled against manufacturers or sellers due to unfair trade practices and exploitation by them. The consumer has been granted the right of redress if the performance, quality, etc., of a product is unsatisfactory. The product must be repaired, replaced of taken back by the seller. The right to seek redressal will reduce post-purchase doubts and grievances of consumers.<\/li>\n<\/ol>\n
(b) \u2018Empathy\u2019:<\/strong> Empathy means looking at things and events from the other\u2019s point of view. It requires that the communicator be in tune with the communicate. The former should understand the attitude of the latter. For, example, a good speaker should know the emotions and sentiments of his audience. Put yourself in the shoes of the listener before you speak. \nEmpathy involves seeing and feeling matters as others see and feel. It enables an executive to be sensitive with problems of his workers arid clients. A person with empathy can be receptive and appreciative of the ideas and opinions of others. Public relations managers and executives must acquire and master the art of empathy. This requires planned practice, experience and experimentation. Empathy is different from sympathy. \n\u2018Dialogue\u2019:<\/strong> Dialogue means a conversation between two persons with a purpose. If a person goes on talking without allowing other to participate in the discussion or talk, then it is a monologue. In a civilised society, dialogue is the only weapon of reasoning and understanding. Democracy and freedom cannot survive without discussion and debate. In a dialogue each person presents facts and views and considers the fact and views presented by others. It is a reasonable exchange of ideas and opinions. Dialogue reveals the true personality of a person. It helps to reduce prejudice and builds up mutual confidence. Effective dialogue requires impartial listening and understanding. \nA good way to start a dialogue is by asking questions and listening to the answers. Dialogue requires a topic about which the participants are informed and to which all can make a contribution by original thinking and discussion.<\/p>\n(c)<\/strong> External Sources of Recruitment: External sources of recruitment means recruitment of employees from the sources outside the organisation. External sources of recruitment are given below:<\/p>\n\n- Advertisements:<\/strong> Advertisements in newspapers and journals are the most widely used method of attracting candidates for all types of jobs. Advertisements bring in a large number of applications due to wide circulation of a national newspaper. This method is convenient and economical also.<\/li>\n
- Placement Agencies:<\/strong> Private employment agencies advertise the vacancies, receive applications, conduct interviews and short-list candidates on behalf of employers. These agencies have become a popular source for recruiting managerial and technical personnel.<\/li>\n
- Employment Exchanges:<\/strong> Employment exchanges run by the Government are another external source of recruitment. Anyone seeking employment can get himself registered with the employment exchange. Employers notify job vacancies to employment exchanges. The exchange supplies a list of candidates to fulfil required qualifications.<\/li>\n
| | | | | | | | | |