11th Commerce - Book Back Answers - Chapter 4 - English Medium Gudies

 

  

 


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    Tamil Nadu Board 11th Standard Commerce - Chapter 4: Book Back Answers and Solutions

        This post covers the book back answers and solutions for Chapter 4 – 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 4 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 4: SOLE PROPRIETORSHIP

    I. Choose the correct answer

    1. Which is the oldest form of Business organisation?
    a. Sole Proprietorship
    b. Partnership
    c. Co-operative Society    
    d. Company
    Answer Key:
    a. Sole Proprietorship

    2. In which form the owner, establisher and manager is only one?
    a. Joint Enterprise
    b. Government Company
    c. Co-operative Society
    d. Sole Proprietor
    Answer Key:
    d. Sole Proprietor

    3. A major disadvantage of sole proprietor-ship is ______
    a. Limited liability
    b. Unlimited liability
    c. Easy Formation
    d. Quick decision
    Answer Key:
    b. Unlimited liability

    4. From the following which one is Non corporate form of business?
    a. Joint stock company
    b. Sole trading business
    c. Government company
    d. Co-operatives
    Answer Key:
    b. Sole trading business

    II. Very Short answer questions

    1. Who is call a Sole Trader?  
    “Sole trader is a type of business unit where a person is solely responsible for providing the capital, for bearing the risk of the enterprise and for the management of business”                                    
                                                                                                                            - J.L.Hansened
    2. What are the Non-Corporate enterprises?
    • Sole Trading Concern
    • Partnership Firms
    • Joint Hindu Family Business
     
    3. What are the Corporate enterprises?
    Corporate enterprises:
    A)Government:
    • Public Undertaking
    • Public utilities
    B) Private:
    • Joint stock company
    C) Co-operative

    III. Short answer questions

    1. How is it possible to maintain secrecy in Sole Proprietorship?
    • Since he/she manages all the affairs of the business, the secrecy can be maintained easily.

    2. What is unlimited liability?
    • When his business assets are not sufficient to pay off the business debts he has to pay from his personal property.

    3. Give some examples of Sole trading business.
    • Fruit sellers         
    • Handicrafts             
    • Beauty parlor                 
    • Retail trade              
    • Tailoring shops

     

    IV. Long answer questions

    1. Explain the characteristics of Sole trading business. (any 5)
    i. Ownership by one man
    • This is owned by single person.
    • The sole trader contributes the required capital.
    ii. Freedom of work
    • Since the individual is himself as a owner,he need not consult anybody else.
    iii. Unlimited Liability
    • When his business assets are not sufficient to pay off the business debts he has to pay from his       personal property.
    iv. Absence of Government Regulation
    • A sole proprietor concern is free from Government regulations.
     v. Maintenance of Secrecy
    • Since he/she manages all the affairs of the business, the secrecy can be maintained easily.
    2. What are the advantages of Sole trading business. (any 5)
    i. Easy Formation
    •  No legal formalities are required to initiate a sole trading concern.
    ii. Small Capital
    • Small capital is an important as well as specific advantage of sole proprietorship.
    iii. Incentive to Work hard
    • There is a direct relationship between effort and reward.
    iv. Credit Standing
    •  Since his private properties are held liable for satisfying business debts, he can get   more financial  assistance from others.
     v. Flexibility
    • The sole trader can easily adjust himself to the changing requirements of his business
    3. What are the disadvantages of Sole trading business
    i. Limited Capital
    •  Since the capital is contributed by one individual only
    •  business operations have necessarily to be on a limited scale.
    ii. Limited Managerial Skill
    •  Single person’s intelligence and experience may not help him beyond a certain stage.
     iii. Unlimited Liability
    • The creditors have the right to recover their dues even from the personal property of the proprietor.
    • In case the business assets are not sufficient to pay their debts.
     iv. Lack of Specialisation
    • Since the business unit is small and the financial resources are limited,
    •  Experts in different fields cannot be employed to secure maximum advantages.
     v. Hasty Decisions
    •   Sole proprietor is more likely to take hasty decision as he need not consult anybody else



     


     

     

     

     






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