Business Studies: Complete the Sentences

• Shares in a private company are not freely transferable, unlike in a public company.
• Globalisation, not privatization, helps create a global village.
• The Indian Partnership Act of 1932, not 1940, is currently applicable in India.
• Management is considered a social science, not a pure science.
• Tariff rates affect external trade, not internal trade, between countries.
• Khadi symbolized self-reliance in pre-independence India, not post-independence.
• NABARD is recognized as an apex institution for agricultural finance, not industrial finance.
• A Statutory Corporation is an artificial person, not a natural person, created by a special act.
• India is an example of a socialist economy, not a capitalist economy.
• The senior-most member of a Joint Hindu family business is called karta, not co-parcener.
• Industry represents the supply side of the market, while commerce does not.
• In a private company, the minimum number of directors is two.

Complete the Sentences

• Social environment is an important part of literacy.
• The English verb "manage" comes from the Indian word "managgiare".
• A Statutory Corporation has defined powers, functions, and duties.
• In a co-operative society, the rule for voting is one man, one vote.
• In a joint-stock company, the rule for voting is one share, one vote.
• To manage is to forecast, to plan, to organize, to command, to co-ordinate, and to control.
• Chain stores are retail stores owned by a single organization.
• Commerce includes the marketing of goods and services.
• Lower-level management works under [omitted].
• SSI (Small Scale Industry) is the second largest industry which creates large employment opportunities.
• A wholesaler provides financial support to retailers by way of credit facility.
• Profit is considered a reward for assuming business risk.

Find the Odd One

• Manufacturing is the odd one out: Banking, Insurance, Transport, Manufacturing.
• Finance Manager is the odd one out: Supervisor, Foremen, Finance Manager, Superintendent.
• General stores is the odd one out: General stores, Hawkers, Pedlars, Cheap Jacks.
• Shareholder is the odd one out: Active partner, Shareholder, Nominal partner, Secret partner.
• Malls is the odd one out: Specialty shops, Second hand goods shops, Malls, Authorised Dealers.
• Bharat Heavy Electricals Ltd. is the odd one out: Life Insurance Corporation, Reserve Bank of India, Bharat Heavy Electricals Limited, ONGC.
• Manufacturing Industry is the odd one out: Agriculture Industry, Extractive Industry, Genetic Industry, Manufacturing Industry.
• Tata Motors is the odd one out: Tata Motors, Hindustan Aeronautics Limited, Steel Authority of India Limited, Gas Authority of India Limited.
• Purchase Manager is the odd one out: Board of Directors, President, Chief Executive Officer (CEO), Purchase Manager.

Case Studies

• Mr. Pran, who manufactures tin in India, is the manufacturer.
• M/s. Frank Corporation in North America and Mr. Williams of the U.S.A. are importers, while Mr. Jack is the exporter.
• Jaysukh oil mills produce refined oil.
• Rupesh oil Depot is the wholesaler.
• Balaji Groceries is the retailer.
• Mrs. Prachi is the consumer.
• The court bans polythene bags because they cause environmental pollution.
• This relates to the legal and social dimensions of the business environment.
• The government promoting the jute industry through subsidies on raw materials.
• Mr. Raghunath's business is a Joint Hindu Family business, making him the Karta.
• Kiran and Naman are called co-parceners.
• Mr. Sawant and Mrs. Tambe are running a Partnership Firm, a voluntary association of two or more people with a common objective.
• The professions mentioned are Chartered Accountant and Architect.
• The type of organization formed when a central government passes a statute giving it autonomy while remaining answerable to the legislature is a Statutory organization.
• Key features of this organization include financial autonomy, separate legal status, and answerability to the legislature.
• The Reserve Bank of India is an example of this type of organization.
• Anchor company increased manufacturing light tubes.
• The dimension of the business environment is the technological environment.
• The importance of the business environment is analysis of strengths, weaknesses, opportunities and threats.
• Pranav works in a company, giving orders and receiving reports.
• There are two levels of Management i.e Middle level and Lower level of Management in the above mentioned company.
• Pranav works in the middle level management of the company.
• Pratap is an employee in the company. He works at the lower level. He completes the work assigned to him by Pravin.