Tamil Nadu Board 11th Standard Commerce - Chapter 18: Book Back Answers and Solutions
This post covers the book back answers and solutions for Chapter 18 – Commerce from the Tamil Nadu State Board 11th Standard Commerce textbook. These detailed answers have been carefully prepared by our expert teachers at KalviTips.com.
We have explained each answer in a simple, easy-to-understand format, highlighting important points step by step under the relevant subtopics. Students are advised to read and memorize these subtopics thoroughly. Once you understand the main concepts, you’ll be able to connect other related points with real-life examples and confidently present them in your tests and exams.
By going through this material, you’ll gain a strong understanding of Commerce Chapter 18 along with the corresponding book back questions and answers (PDF format).
Question Types Covered:
- 1 Mark Questions: Choose the correct answer, Fill in the blanks, Identify the correct statement, Match the following
- 2 Mark Questions: Answer briefly
- 3, 4, and 5 Mark Questions: Answer in detail
All answers are presented in a clear and student-friendly manner, focusing on key points to help you score full marks.
All the best, Class 11 students! Prepare well and aim for top scores. Thank you!
Chapter 18: BUSINESS ETHICS AND CORPORATE GOVERNANCE
I. Choose the correct answer
1. Which of the following helps in maximizing sale of goods to society? a) Business success
b) laws and regulations
c) Ethics
d) Professional management
Answer key:
c) Ethics
2. Ethics is important for
a) Top management
b) Middle level managers
c) Non managerial employees
d) All of them
Answer key:
d) All of them
3. Which of the following does not ensure effective ethical practices in a business enterprise
a) Publication of a code
b) Involvement of employees
c) Establishment of compliance mechanisms
d) none of them
Answer key:
a) Publication of a code
4. The role of top management is to guide the entire organization towards
a) General behavior
b) Organization behavior
c) Ethically upright behavior
d) Individual behavior
Answer key:
c) Ethically upright behavior
5. The ethical conduct of employees leading to standard practices results in
a) good behavior
b) bad behaviour
c) ethical behaviour
d) correct decision making
Answer key:
d) correct decision making
II. Very Short answer questions
1. What is Ethics? - Ethics is derived from the Greek word ‘ethos’ which means a person’s fundamental orientation towards life.
- Ethical behaviour is the acts consistent with the moral standards or codes of conduct established by society.
2. Write any two key elements of Business Ethics.
Top Management Commitment:
- Top management has a very important role to guide the entire organization towards ethical behaviour.
- Generally organisations formulate their own ethical codes for the conduct of the enterprise.
3. Define Corporate governance.
“Corporate governance is about promoting fairness, transparency and accountability.”
-World Bank
III. Short answer questions
1. What do you mean by the concept of Business Ethics? - Ethical behaviour is the acts consistent with the moral standards or codes of conduct established by society.
- It may change over time and differ from culture to culture.
- These standards determine the conduct and behaviour of business people.
2. Why MNC’s in India? (any 3)
- India has a huge market
- It is one of the fastest growing economies in the world.
- Favorable policies of the government towards FDI.
- Financial liberalization of the country after 1991
IV. Long answer questions
1. Explain the different key elements of Business Ethics. - Top management has a very important role to guide the entire organization towards ethical behaviour.
- Generally organisations formulate their own ethical codes for the conduct of the enterprise.
- To make sure that actual decisions match with a firm’s ethical standards, suitable mechanism should be established.
- It is the employees at different levels who implement ethics policies to make ethical business a reality.
- The top management team and other employees should then discuss the results for further course of action
- Ensures stable growth of organizations.
- Aligns the interests of various stakeholders.
- Reduces the cost of capital for companies.
- Has a positive impact on the share price.
- Improves the image of the company.
- Ensures efficient allocation of resources
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