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
Corporate enterprises:
A)Government:
- Public Undertaking
- Public utilities
- Joint stock company
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.
- Since the individual is himself as a owner,he need not consult anybody else.
- When his business assets are not sufficient to pay off the business debts he has to pay from his personal property.
- A sole proprietor concern is free from Government regulations.
- Since he/she manages all the affairs of the business, the secrecy can be maintained easily.
i. Easy Formation
- No legal formalities are required to initiate a sole trading concern.
- Small capital is an important as well as specific advantage of sole proprietorship.
- There is a direct relationship between effort and reward.
- Since his private properties are held liable for satisfying business debts, he can get more financial assistance from others.
- The sole trader can easily adjust himself to the changing requirements of his business
i. Limited Capital
- Since the capital is contributed by one individual only
- business operations have necessarily to be on a limited scale.
- Single person’s intelligence and experience may not help him beyond a certain stage.
- 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.
- Since the business unit is small and the financial resources are limited,
- Experts in different fields cannot be employed to secure maximum advantages.
- Sole proprietor is more likely to take hasty decision as he need not consult anybody else
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