{"id":19823,"date":"2022-06-16T10:41:22","date_gmt":"2022-06-16T05:11:22","guid":{"rendered":"https:\/\/scholarsclasses.com\/blog\/?p=19823"},"modified":"2025-12-26T13:23:33","modified_gmt":"2025-12-26T07:53:33","slug":"12th-ocm-chapter-6-exercise","status":"publish","type":"post","link":"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/","title":{"rendered":"12th OCM Chapter 6 Exercise (Social Responsibilities of Business) Maharashtra Board &#8211; Free Resource"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e0a6ed9502a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e0a6ed9502a\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#12th_OCM_Chapter_6_Exercise\" >12th OCM Chapter 6 Exercise<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Chapter_6_%E2%80%93_Social_Responsibilities_of_Business\" >Chapter 6 &#8211; Social Responsibilities of Business<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Q1_A_Select_the_correct_option_and_rewrite_the_sentences\" >Q.1 (A) Select the correct option and rewrite the sentences.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Q1_B_Match_the_pairs\" >Q.1 (B) Match the pairs.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Q1_C_Give_one_wordphraseterm_for_the_following_statements\" >Q.1 (C) Give one word\/phrase\/term for the following statements.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Q1_D_State_whether_the_following_statements_are_true_or_false\" >Q.1 (D) State whether the following statements are true or false.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Q1_E_Find_the_odd_one_out\" >Q.1 (E) Find the odd one out.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Q1_F_Complete_the_sentences\" >Q.1 (F) Complete the sentences.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Q1_G_Select_the_correct_option\" >Q.1 (G) Select the correct option.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Q1_H_Answer_in_one_sentence\" >Q.1 (H) Answer in one sentence.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Q1I_Correct_the_underlined_word_and_rewrite_the_following_sentences\" >Q.1(I) Correct the underlined word and rewrite the following sentences.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Q2_Explain_the_following_termsconcepts\" >Q.2 Explain the following terms\/concepts.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Q3_Study_the_following_casesituation_and_express_your_opinion\" >Q.3 Study the following case\/situation and express your opinion.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Q4_Answer_in_brief\" >Q.4 Answer in brief.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Q5_Justify_the_following_statements\" >Q.5 Justify the following statements.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Q6_Attempt_the_following\" >Q.6 Attempt the following.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Q7_Answer_the_following\" >Q.7 Answer the following.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#12th_Commerce_OCM_Textbook_Solutions\" >12th Commerce OCM Textbook Solutions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Check_out_other_posts_related_to_12th_Commerce\" >Check out other posts related to 12th Commerce<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-6-exercise\/#Online_lectures_of_Class_12_Commerce\" >Online lectures of Class 12 Commerce<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"12th_OCM_Chapter_6_Exercise\"><\/span>12th OCM Chapter 6 Exercise<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"576\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/06\/12th-OCM-Chapter-6-Exercise-1024x576.webp\" alt=\"12th OCM Chapter 6 Exercise\" class=\"wp-image-20018 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/06\/12th-OCM-Chapter-6-Exercise-1024x576.webp 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/06\/12th-OCM-Chapter-6-Exercise-300x169.webp 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/06\/12th-OCM-Chapter-6-Exercise-768x432.webp 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/06\/12th-OCM-Chapter-6-Exercise-1536x864.webp 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/06\/12th-OCM-Chapter-6-Exercise.webp 1920w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/576;\" \/><figcaption class=\"wp-element-caption\">12th OCM Chapter 6 Exercise<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center has-black-color has-vivid-green-cyan-background-color has-text-color has-background has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Chapter_6_%E2%80%93_Social_Responsibilities_of_Business\"><\/span><strong>Chapter 6 &#8211; <strong><strong>Social Responsibilities of Business<\/strong><\/strong><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q1_A_Select_the_correct_option_and_rewrite_the_sentences\"><\/span>Q.1 (A) Select the correct option and rewrite the sentences.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1. Business is a _____ activity<\/strong><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) Socio-economic <br><\/mark><\/strong>b) Service <br>c) Charitable<\/p>\n\n\n\n<p><strong>2. Business organizations should try to make _____ utilization of natural resources.<\/strong><br>a) Minimum <br>b) Maximum <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) Optimum<\/mark><\/strong><\/p>\n\n\n\n<p><strong>3. For economic growth and national security _____ stability is required.<br><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) Political <br><\/mark><\/strong>b) Social <br>c) Economic<\/p>\n\n\n\n<p><strong>4. Making timely payment of proper taxes is the responsibility of the organization towards&nbsp;_____.<br><\/strong>a) Shareholders <br>b) Customers <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) Government<\/mark><\/strong><\/p>\n\n\n\n<p><strong>5. Businessmen are _____ of the society.<\/strong><br>a) Representatives <br>b) leaders <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) Trustees<\/mark><\/strong><\/p>\n\n\n\n<p><strong>6. Business should provide periodic information to _____.<\/strong><br>a) Customers <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) Owners <br><\/mark><\/strong>c) Employees<\/p>\n\n\n\n<p><strong>7. Business should offer adequate opportunities of promotion to their _____.<\/strong><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) Employees <br><\/mark><\/strong>b) Customers <br>c) Investors<\/p>\n\n\n\n<p><strong>8. The term &#8216;Ethics&#8217; is derived from the _____ word &#8216;Ethos&#8217; which means character.<\/strong><br>a) Latin <br>b) French <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) Greek<\/mark><\/strong><\/p>\n\n\n\n<p><strong>9. Business ethics refers to the _____ system of principles.<\/strong><br>a) Economic <br>b) Social <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) Moral<\/mark><\/strong><\/p>\n\n\n\n<p><strong>10. Business organizations should protect health and provide safety measures to _____.<br><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) employees <br><\/mark><\/strong>b) owners <br>c) Investors<\/p>\n\n\n\n<p><strong>11. At least _____ % of the average net profit should be spent on C.S.R.<\/strong><br>a) 5% <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) 2% <br><\/mark><\/strong>c) 3%.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q1_B_Match_the_pairs\"><\/span>Q.1 (B) Match the pairs.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Group A<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Group B<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">a) Employees<\/td><td class=\"has-text-align-center\" data-align=\"center\">1) Good quality product<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">b) Responsibility to Investors<\/td><td class=\"has-text-align-center\" data-align=\"center\">2) To maintain solvency and prestige<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">c) Responsibility toward government<\/td><td class=\"has-text-align-center\" data-align=\"center\">3) To serve society<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">d) Economic objective<\/td><td class=\"has-text-align-center\" data-align=\"center\">4) Voluntary<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">e) Business ethics<\/td><td class=\"has-text-align-center\" data-align=\"center\">5) Job security<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\">6) Compulsory<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\">7) Respecting rules and regulations<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\">8) To earn profit<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\">9) Branch of Social Science<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\">10) Protection and environment<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Answers.   <br>a. 5) Job security<br>b. 2) To maintain solvency and prestige<br>c. 7) Respecting rules and regulations<br>d. 8) To earn profit<br>e. 9) Branch of Social Science<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q1_C_Give_one_wordphraseterm_for_the_following_statements\"><\/span>Q.1 (C) Give one word\/phrase\/term for the following statements.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) Name the philosophy related to social responsibility propounded by Mahatma Gandhi.<br>Answer:<\/strong> Trusteeship<\/p>\n\n\n\n<p><strong>2) Duties, obligations of business directed towards the welfare of society.<br>Answer:<\/strong> Social Responsibility<\/p>\n\n\n\n<p><strong>3) Getting good quality products is the basic right of this group of society.<br>Answer:<\/strong> Consumers<\/p>\n\n\n\n<p><strong>4) Providing fair returns on investment is the responsibility of organization towards this group.<br>Answer:<\/strong> Investors<\/p>\n\n\n\n<p><strong>5) Rules of standard dealing with morality in a business environment.<br>Answer:<\/strong> Business Ethics<\/p>\n\n\n\n<p><strong>6) An activity motivated by profit.<br>Answer:<\/strong> Business<\/p>\n\n\n\n<p><strong>7) Earning foreign exchange is the responsibility of the organization towards this group.<br>Answer:<\/strong> Government<\/p>\n\n\n\n<p><strong>8) Employment generation is the responsibility of the organization towards this group.<br>Answer:<\/strong> Society<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solution of other subjects<\/a><br><a href=\"https:\/\/scholarsclasses.com\/blog\/ocm-12th-commerce-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/ocm-12th-commerce-solutions\/\">Solution of all Chapters of OCM<br><\/a> <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-1st-chapter-notes\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-1st-chapter-notes\/\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-2nd-chapter-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-2nd-chapter-exercise\/\">2<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-3-exercise-solutions\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-3-exercise-solutions\/\">3<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-4-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-4-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">4<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-5-exercise-2-2\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-5-exercise-2-2\/\">5<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-7-exercise-2-2\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-7-exercise-2-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">7<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-8-exercise-2\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-8-exercise-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">8<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q1_D_State_whether_the_following_statements_are_true_or_false\"><\/span>Q.1 (D) State whether the following statements are true or false.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1) Businessmen are trustees of society. <strong>(True)<\/strong><\/p>\n\n\n\n<p>2) Business ethics is a code of conduct. <strong>(True)<\/strong><\/p>\n\n\n\n<p>3) Commercial organizations are expected to uplift the weaker section of society. <strong>(True)<\/strong><\/p>\n\n\n\n<p>4) It is the responsibility of commercial organizations to maintain industrial peace. <strong>(True)<\/strong><\/p>\n\n\n\n<p>5) Owners should not get complete and accurate information about their financial position. <strong>(False)<\/strong><\/p>\n\n\n\n<p>6) Media does not play important role in public life. <strong>(False)<\/strong><\/p>\n\n\n\n<p>7) Social responsibility is broader than legal responsibility of business. <strong>(True)<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q1_E_Find_the_odd_one_out\"><\/span>Q.1 (E) Find the odd one out.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1) Job security, health and safety measures, good working condition, <strong>reasonable profit.<\/strong><br>2) Good quality products, fair prices, honest advertising, <strong>prevent congestion in cities<\/strong>.<br>3) Timely payment of taxes, earning foreign exchange, <strong>creating goodwill<\/strong>, political stability.<br>4) Protection of environment, <strong>maintain transparency<\/strong>, employment generation, development of&nbsp;backward region.<br>5) Proper conduct of meeting, careful use of capital, <strong>fair prices of products<\/strong>, maintain solvency&nbsp;and prestige.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q1_F_Complete_the_sentences\"><\/span>Q.1 (F) Complete the sentences.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1) Business organizations can maximize profitability by <strong><span style=\"text-decoration: underline;\">minimizing<\/span><\/strong> wastage.<\/p>\n\n\n\n<p>2) Social responsibility is broader than <strong><span style=\"text-decoration: underline;\">legal<\/span><\/strong> responsibility.<\/p>\n\n\n\n<p>3) The concept of trusteeship was propounded by <strong><span style=\"text-decoration: underline;\">Mahatma Gandhi<\/span><\/strong>.<\/p>\n\n\n\n<p>4) Business should earn a <strong><span style=\"text-decoration: underline;\">reasonable<\/span><\/strong> profit.<\/p>\n\n\n\n<p>5) <strong><span style=\"text-decoration: underline;\">Remuneration<\/span><\/strong> should be fixed according to the nature and importance of work.<\/p>\n\n\n\n<p>6) The word &#8216;Ethics&#8217; is derived from the Greek word &#8216; <strong><span style=\"text-decoration: underline;\">Ethos<\/span><\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q1_G_Select_the_correct_option\"><\/span>Q.1 (G) Select the correct option.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Group A&nbsp;<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Group B<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">1) After-sales service<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><span style=\"text-decoration: underline;\">Responsibilities towards consumers<\/span><\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2) Timely payment of proper taxes<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><span style=\"text-decoration: underline;\">Responsibilities towards government<\/span><\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">3) <strong><span style=\"text-decoration: underline;\">Responsibilities toward society<\/span><\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">Protest Anti-Social activities<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">4) <strong><span style=\"text-decoration: underline;\">Responsibilities toward shareholders<\/span><\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">Fair practices on stock Exchange<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q1_H_Answer_in_one_sentence\"><\/span>Q.1 (H) Answer in one sentence.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">1) Who can raise voice against business malpractices?<\/mark><\/strong><br><strong>Answer:<\/strong> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-contrast-color\">Media can raise voice against business malpractices<\/mark>.<\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">2) What should be done by management to keep workers updated?<\/mark><\/strong><br><strong>Answer:<\/strong> &#8216;Introduction Training&#8217;, &#8216;Refresher Training&#8217; is&nbsp;conducted to keep employees updated on the latest development.<\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">3) What type of advertising should be avoided?<\/mark><\/strong><br><strong>Answer:<\/strong> False, misleading, and vulgar advertisements should be avoided.<\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">4) What organization should do to improve quality of goods and to reduce the cost of production?<br><\/mark>Answer:<\/strong> Research and development should be conducted to improve quality of goods and to reduce cost of production.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q1I_Correct_the_underlined_word_and_rewrite_the_following_sentences\"><\/span>Q.1(I) Correct the underlined word and rewrite the following sentences.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1) Social responsibility is <strong><span style=\"text-decoration: underline;\">narrower<\/span><\/strong> term than legal responsibility of business.<br><strong>Answer:<\/strong> broader<\/p>\n\n\n\n<p>2) All sorts of <strong><span style=\"text-decoration: underline;\">fair<\/span><\/strong> practices related to stock exchange should be avoided.<br><strong>Answer:<\/strong> unfair<\/p>\n\n\n\n<p>3) Management and union should <strong><span style=\"text-decoration: underline;\">agree<\/span><\/strong> strikes and lockouts to protect the interest of both parties.<br><strong>Answer:<\/strong> ban<\/p>\n\n\n\n<p>4) MRP (Maximum Retail Price) <strong><span style=\"text-decoration: underline;\">should not<\/span><\/strong> be printed on every packet.<br><strong>Answer:<\/strong> Should<\/p>\n\n\n\n<p>5) <strong><span style=\"text-decoration: underline;\">Dishonest<\/span><\/strong> advertising can be appreciated by customers in the long run.<br><strong>Answer:<\/strong> Honest<\/p>\n\n\n\n<p>6) Financial help <strong><span style=\"text-decoration: underline;\">should be<\/span><\/strong> provided by business organizations for anti-social activities.<br><strong>Answer:<\/strong> Should not be<\/p>\n\n\n\n<p>7) Business ethics is a <span style=\"font-weight: 600;\"><u>compulsory<\/u><\/span> term.<br><strong>Answer:<\/strong> Voluntary<\/p>\n\n\n\n<p>8) Business ethics is <strong><span style=\"text-decoration: underline;\">not a relative<\/span><\/strong> term.<br><strong>Answer:<\/strong> relative<\/p>\n\n\n\n<p>9) <strong><span style=\"text-decoration: underline;\">Social<\/span><\/strong> values are based on perceptions of right or wrong.<br><strong>Answer:<\/strong> Moral<\/p>\n\n\n\n<p>10) <strong><span style=\"text-decoration: underline;\">Moral<\/span><\/strong> values provide general guidelines for social conduct.<br><strong>Answer:<\/strong> Social<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q2_Explain_the_following_termsconcepts\"><\/span>Q.2 Explain the following terms\/concepts.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">1) Social responsibility<\/mark><\/strong><br><strong>Answer:<\/strong> Social responsibility of business refers to its obligation to take those decisions and perform&nbsp;those actions which are desirable in terms of the objectives and values of our society. So, all the activities of business should be performed in such a manner that they will not harm any part of society&nbsp;rather they will protect and contribute to the interest of society.<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>2) Concept of Trusteeship<\/strong><\/mark><br><strong>Answer: <\/strong>Trusteeship is a socioeconomic philosophy that was propounded by Mahatma Gandhi. It&nbsp;provides a means by which the wealthy people would be the trustees of trusts that looked after&nbsp;the welfare of the people in general. Businessmen are considered to be trustees of society.<\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">3) Business ethics<\/mark><\/strong><br><strong>Answer:<\/strong> The word &#8216;Ethics&#8217; is derived from the Greek word &#8216;Ethos&#8217; which means character.&nbsp;Ethics means the set of rules and principles that the organization should follow while business ethics refers to a code of conduct that businesses are expected to follow while doing business. Through ethics, a standard is set for the organization to regulate their behavior. This helps them in&nbsp;distinguishing between the wrong and the right path of the business.&nbsp;<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>4) Moral Values<\/strong><\/mark><br><strong>Answer:<\/strong> Moral values are based on perceptions of right and wrong whereas social values may also&nbsp;include ideas about things being socially acceptable. Social values are often based on tradition, ego,&nbsp;honesty, integrity, fairness, hard work, cooperation, forgiveness, never hurt anyone, etc.<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>5) Social values<\/strong><\/mark><br><strong>Answer:<\/strong> Social values form an important part of the culture of society. They provide general&nbsp;guidelines for social conduct. Values such as fundamental rights, patriotism, respect for human&nbsp;dignity, rationality, sacrifice, equality, democracy, etc. influence our behavior in many ways.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solution of other subjects<\/a><br><a href=\"https:\/\/scholarsclasses.com\/blog\/ocm-12th-commerce-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/ocm-12th-commerce-solutions\/\">Solution of all Chapters of OCM<br><\/a> <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-1st-chapter-notes\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-1st-chapter-notes\/\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-2nd-chapter-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-2nd-chapter-exercise\/\">2<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-3-exercise-solutions\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-3-exercise-solutions\/\">3<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-4-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-4-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">4<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-5-exercise-2-2\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-5-exercise-2-2\/\">5<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-7-exercise-2-2\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-7-exercise-2-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">7<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-8-exercise-2\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-8-exercise-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">8<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q3_Study_the_following_casesituation_and_express_your_opinion\"><\/span>Q.3 Study the following case\/situation and express your opinion.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">1) Yashwant Co. Ltd. is providing facilities for their female staff like a daycare center for kids&nbsp;and work from home facility. Even management takes their suggestions while taking the decisions&nbsp;though they are members of a trade union<\/mark><\/p>\n\n\n\n<p>i) By doing this they are following social responsibilities towards which interest groups?<br>ii) What values are they presenting?<br>iii) What kind of responsibilities employer follows in the above case?<\/p>\n\n\n\n<p><strong>Solution:<\/strong><br>i) By doing this they are following social responsibilities towards employees.<br>ii) They are representing social values.<br>iii) Yashwant Co.Ltd follows social responsibility towards employees.<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">2) An organization manufacturing paints has been enjoying a prominent market position since&nbsp;many years. It has been dumping its untreated poisonous waste on the river bank, which has&nbsp;created many health problems for the nearby villages.<\/mark><\/p>\n\n\n\n<p>i) Which responsibility is neglected by manufacturing organizations?<br>ii) What kind of pollution they are doing?<br>iii) State any one precautionary measure they need to take.<\/p>\n\n\n\n<p><strong>Solution:<\/strong><br>1) Responsibility toward the protection of the environment is neglected by the paint manufacturing organization.<br>2) They are creating water pollution by dumping its untreated poisonous waste on the riverbank.<br>3) Proper waste management techniques should be used by which waste should be reduced or reused.<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">3) A vehicle manufacturing company has adopted the following practices.&nbsp;<br>A) Only those components will be used by the company which is environment friendly.<br>B) There will be a discharge of harmful wastes only after their proper treatment.<br>C) Pollution level of every vehicle will be maintained as per international standards.<\/mark><\/p>\n\n\n\n<p>i) By doing this, the business organization follows social responsibility toward which interest&nbsp;group?<br>ii) What kind of pollution do they want to avoid?<br>iii) What kind of message do they want to convey?<\/p>\n\n\n\n<p><strong>Solution:<\/strong><br>i) By doing this, business organization follows social responsibility toward society for the protection of the environment.<br>ii) They want to avoid air pollution.<br>iii) They want to convey the message that businesses should make an effort to protect the environment.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q4_Answer_in_brief\"><\/span>Q.4 Answer in brief.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">1) Give any four types of social responsibilities towards consumers.<\/mark><\/strong><\/p>\n\n\n\n<p><strong>Answer:<strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><br><\/mark><\/strong>Following are the social&nbsp;responsibilities towards consumers:<\/strong><\/p>\n\n\n\n<p><strong>1) Good Quality Products<\/strong><\/p>\n\n\n\n<p>The organization should produce quality goods. Every organization should have its quality&nbsp;control department so inferior and substandard products can be rejected. International Standard Organization (ISO), is the latest trend toward quality control. This ensures customers&nbsp;about quality products.<\/p>\n\n\n\n<p><strong>2) Fair Prices<\/strong><\/p>\n\n\n\n<p>Consumers should not be cheated by charging high prices. It is not possible to fool the&nbsp;customer at all the time. Fair prices convert a one-time consumer into a permanent consumer.&nbsp;Maximum Retail Price (M.R.P.) inclusive of all taxes should be printed on every packet. Retailers should not charge any extra amount.<\/p>\n\n\n\n<p><strong>3) Customer&#8217;s Safety<\/strong><\/p>\n\n\n\n<p>The business must ensure that the product supplied will not adversely affect the life and health&nbsp;of the customers. Unsafe products should not be marketed. Consumers should be warned of any&nbsp;unsafe goods.<\/p>\n\n\n\n<p><strong>4) Honest Advertising<\/strong><\/p>\n\n\n\n<p>Consumers want to know the facts, features, advantages, side-effects, etc. of the products.&nbsp;The advertisement conveys this information. So the organization must be sure that the advertisement is not misleading. False, misleading, and vulgar advertisements should be&nbsp;avoided. Consumers will appreciate only honest advertisements in the long run.<\/p>\n\n\n\n<p><strong>5) After Sales Service<\/strong><\/p>\n\n\n\n<p>The organization is expected to provide after-sales service for maintenance of goods during the&nbsp;period of warranty. Efficient and effective after-sale service helps to establish a good relation&nbsp;between the consumers and the organization.<\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">2) What is business ethics? What are features of business ethics?<\/mark><\/strong><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <br><strong>Business Ethics:<br><\/strong>The word &#8216;Ethics&#8217; is derived from the Greek word &#8216;Ethos&#8217; which means character.&nbsp;Ethics means the set of rules and principles that the organization should follow while business ethics refers to a code of conduct that businesses are expected to follow while doing business.&nbsp;<\/p>\n\n\n\n<p>Through ethics, a standard is set for the organization to regulate their behavior. This helps them in&nbsp;distinguishing between the wrong and the right path of the business.&nbsp;<\/p>\n\n\n\n<p><strong>Features of Business Ethics:<\/strong><\/p>\n\n\n\n<p><strong>1) Code of conduct<\/strong><\/p>\n\n\n\n<p>Business ethics is a code of conduct. It tells what to do and what not to for the welfare of society. All businessmen must follow this code of conduct.<\/p>\n\n\n\n<p><strong>2) Based on moral and social values<\/strong><\/p>\n\n\n\n<p>It contains moral and social principles (rules) for doing business. This includes self-control,&nbsp;consumer protection, and welfare, service to society, fair treatment to social groups, not to exploit others, etc.<\/p>\n\n\n\n<p><strong>3) Gives protection to social groups<\/strong><\/p>\n\n\n\n<p>Business ethics give protection to different social groups such as consumers, employees, small&nbsp;businessmen, government, shareholders, creditors, etc.<\/p>\n\n\n\n<p><strong>4) Provides a basic framework<\/strong><\/p>\n\n\n\n<p>It gives the social, cultural, economic, legal, and other limits of business. Business must be&nbsp;conducted within these limits.<\/p>\n\n\n\n<p><strong>5) Voluntary<\/strong><\/p>\n\n\n\n<p>The businessmen must accept business ethics on their own. Business ethics must be like self-discipline. It must not be enforced by law.<\/p>\n\n\n\n<p><strong>6) Requires education and guidance<\/strong><\/p>\n\n\n\n<p>Businessmen must be given proper education and guidance before introducing business ethics.&nbsp;The businessman must be motivated to implement business ethics.<\/p>\n\n\n\n<p><strong>7) Relative term<\/strong><\/p>\n\n\n\n<p>Business ethics change from business to business. It also changes from one country to another.&nbsp;What is considered as good in one country may be banned in another country.<\/p>\n\n\n\n<p><strong>8) New concept<\/strong><\/p>\n\n\n\n<p>Business ethics is a newer concept. It is strictly followed only in developed countries and not&nbsp;in poor and developing countries.<\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">3) State responsibilities of business towards government.<\/mark><\/strong><\/p>\n\n\n\n<p> <strong style=\"color: initial;\">Answer:<\/strong><br><strong>Following are the responsibilities of the organization towards&nbsp;government.<\/strong><\/p>\n\n\n\n<p><strong>1) Timely Payment of Taxes<\/strong><\/p>\n\n\n\n<p>The government imposes various types of taxes like sales tax, income tax, wealth tax, etc. Business units should pay these taxes from time to time. It would be difficult for the government to&nbsp;undertake development projects without the availability of funds.<\/p>\n\n\n\n<p><strong>2) Observing rules and regulations<\/strong><\/p>\n\n\n\n<p>The rules framed by the government for business should be fully complied with. The business&nbsp;should follow the laws regarding obtaining a license for a specified business, the operation of&nbsp;the business, price determination and production, etc. They should conduct business in a lawful&nbsp;manner.<\/p>\n\n\n\n<p><strong>3) Earning Foreign Exchange<\/strong><\/p>\n\n\n\n<p>The government also expects from business organizations that it will earn foreign exchange by&nbsp;exporting goods. The government requires this foreign exchange for importing various goods.&nbsp;valuable and important products.<\/p>\n\n\n\n<p><strong>4) Economic Development<\/strong><\/p>\n\n\n\n<p>The government sets the targets for balanced and rapid economic development of the country.&nbsp;The business organization should provide necessary cooperation to the government.<\/p>\n\n\n\n<p><strong>5) Implementing Socio-Economic Policies<\/strong><\/p>\n\n\n\n<p>The government expects cooperation and help from the business sector in implementing socio-economic programmes and policies.<\/p>\n\n\n\n<p><strong>6) Suggestions to the Government<\/strong><\/p>\n\n\n\n<p>The business organization can provide suggestions to the government before framing important policies such as Industrial Policy, Import Export Policy, Licensing Policy etc. Such suggestions are helpful for framing organization-friendly policies.<\/p>\n\n\n\n<p><strong>7) No favours<\/strong><\/p>\n\n\n\n<p>The commercial organization should not take any favour from the government officials by&nbsp;bribing or influencing them.<\/p>\n\n\n\n<p><strong>8) Contributing to Government Treasury<\/strong><\/p>\n\n\n\n<p>The Commercial organization must contribute the funds to government during the emergencies&nbsp;and natural calamities like floods, earthquakes, etc.<\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">4) State any four CSR activities.<\/mark><\/strong><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <br>CSR activities are briefly described below:<\/p>\n\n\n\n<p>i) Eradicating hunger, poverty &amp; malnutrition, promoting preventive health care &amp; sanitation &amp;&nbsp;making available safe drinking water.<\/p>\n\n\n\n<p>ii) Promoting education, including special education &amp; employment enhancing vocation skills,&nbsp;especially among children, women, elderly &amp; the differently abled &amp; livelihood enhancement&nbsp;projects.<\/p>\n\n\n\n<p>iii) Reducing child mortality and improving maternal health by providing good hospital facilities&nbsp;and low-cost medicines.<\/p>\n\n\n\n<p>iv) Ensuring environmental sustainability, ecological balance, protection of flora &amp; fauna, animal&nbsp;welfare, agroforestry, conservation of natural resources &amp; maintaining the quality of soil, air &amp;&nbsp;water.<\/p>\n\n\n\n<p>v) Employment enhancing vocational skills.<\/p>\n\n\n\n<p>vi) Measures for the benefit of armed forces veterans, war widows &amp; their dependents.<\/p>\n\n\n\n<p>vii) Training to promote rural sports, and nationally recognized sports.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solution of other subjects<\/a><br><a href=\"https:\/\/scholarsclasses.com\/blog\/ocm-12th-commerce-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/ocm-12th-commerce-solutions\/\">Solution of all Chapters of OCM<br><\/a> <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-1st-chapter-notes\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-1st-chapter-notes\/\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-2nd-chapter-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-2nd-chapter-exercise\/\">2<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-3-exercise-solutions\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-3-exercise-solutions\/\">3<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-4-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-4-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">4<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-5-exercise-2-2\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-5-exercise-2-2\/\">5<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-7-exercise-2-2\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-7-exercise-2-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">7<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-8-exercise-2\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-8-exercise-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">8<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q5_Justify_the_following_statements\"><\/span>Q.5 Justify the following statements.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>1) Role of media has major influence on business organisations.<\/strong><\/mark><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <br>a) Media refers to the various means used by advertisers to inform the public about products or services. The mass media include the press, social media, radio, and television. Active media plays a crucial role in the life of people. Through the internet, the reach of social media to common people has become very easy.<br>b) Media has the efficiency to disburse any information, wrong policy, or unfair trade practice adopted by any business organization at a very fast pace to the public at large that too at every corner of the world. The media is very vibrant and active.<\/p>\n\n\n\n<p>c) Media connects the people and creates an influence on the masses. It can make propaganda (or raise voice) against business malpractices and exploitation of consumers. It can do publicity through the repetition of messages by different means.<br>d) Newspapers, radio, television, the internet, social media, etc. can easily give publicity to unfair practices of business organizations. So, the media makes business organizations understand social values and exerts major influence.<\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">2) Business should allow workers participation in management.<\/mark><\/strong><\/p>\n\n\n\n<p><strong>Answer: <\/strong><br>a) Workers are the real architects of success in any business unit. Investments in human resources (capital) give rich rewards in the long run.<br>b) The success and failure of the business organizations to a greater extent depend on the support and participation of employees. Therefore, business organizations should encourage workers to participate in management through various schemes like giving suggestions and saving costs. quality circles, profit sharing co-ownership, etc.<\/p>\n\n\n\n<p>c) When workers are allowed to participate in the management, it will raise their morale. This in turn will give the workers a sense of belongingness. They will take an active part in the completion of the work assigned to them.<br>d) Workers&#8217; participation in management enables the organization to win the confidence of employees. It creates and maintains a good, healthy, and improved relationship between labor and management which is necessary for the success of any organization.<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>3) Expectations of society towards business are changing.<\/strong><\/mark><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <br>a) Today the world is changing and expanding very fast. Social demands have changed gradually over the years. The business has to respond to them positively.<\/p>\n\n\n\n<p>b) Now people all over the globe are well aware of their rights. The overall knowledge level has also increased. In order to fulfill the growing needs of the people, the business firm must operate as per the expectations of society. Business units must give society what it actually wants.<\/p>\n\n\n\n<p>c) Consumer satisfaction is the ultimate purpose of business activities. A business organization must give priority to consumer satisfaction over profit motive. Its survival, progress, and reputation depend upon consumer satisfaction. It must win the confidence of its customers by giving them useful services.<\/p>\n\n\n\n<p>d) Business organizations are expected to action broad public interest and serve the objectives of mankind and society at large along with the objectives of earning profit. It must provide quality products to society at reasonable prices and above all contribute to social welfare.<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>4) Business organizations should avoid environmental pollution and ecological imbalance.<\/strong><\/mark><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <br>1) The functioning of business units and industrialization creates air, water, and sound pollution. The carbon particles, dust, harmful gases, chemicals, etc. create air pollution<\/p>\n\n\n\n<p>2) Harmful chemicals, untreated sewage, industrial waste, fertilizers, pesticides, refuse, e-waste, etc. when get mixed with water, creates water pollution. Airplanes, motor vehicles, construction machines, and industrial equipment create sound pollution.<\/p>\n\n\n\n<p>3) Business organizations are expected to take all possible measures to prevent air, water, and sound pollution and to maintain the ecological balance. For the well-being of society, every organization should assist the concerned organizations engaged in pollution control programs such as the plantation of trees, preservation of wildlife, and natural resources.<\/p>\n\n\n\n<p>4) Protecting the environment and maintaining the ecological balance in the following manner:<br>(i) Business organizations save costs and money by minimizing waste.<br>(ii) Business organizations that follow green practices (plantation of more and more trees) get support from customers.<br>(iii) Business organizations that take precautions to protect the environment create awareness among employees.<br>(iv) Protection of the environment process cut carbon emissions and create conditions for green growth which is beneficial to society.<br>(v) Business organizations showing awareness of environmental protection get support and encouragement from the government. Thus, business organizations should avoid environmental pollution and ecological imbalance.<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>5) All sorts of unfair practices related to stock exchange should be avoided.<\/strong><\/mark><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <br>a) The persons who provide finance for the short term as well as for the long term to the company are called owners or investors. They invest their money and accept the risk factors. Management is expected to provide full and factual information about the financial performance of the company to the owners and investors.<\/p>\n\n\n\n<p>b) The Securities and Exchange Board of India (SEBI) plays a pivotal role in regulating and maintaining the interests of investors in the securities market. Law prohibits any sort of activity that is manipulative or unfair in the securities market. Thus, business organizations must avoid unfair practices related to stock exchange like insider trading providing wrong and secret information about buying\/selling or dealing with securities, etc. Any breach in the above-mentioned practices may be considered unlawful and be made accountable by SEBI.<\/p>\n\n\n\n<p>c) Therefore, a business organization should consider responsibilities toward the owners and should avoid all sorts of unfair practices related to the stock exchange.<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>6) Business ethics contains moral and social values for doing business.<\/strong><\/mark><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <br>a) Business Ethics refers to the code of conduct that a business organization is expected to follow while doing business. According to &#8220;Wheeler&#8217;, &#8220;Business ethics is an art or science of maintaining a harmonious relationship with society, its various groups, and institutions as well as recognizing the moral responsibility for right or wrong conduct of business.&#8217; &#8220;<\/p>\n\n\n\n<p>b) Moral values are based on perceptions of right and wrong. They provide the general guidelines for distinguishing between wrong and right path of business, between good and bad, fair and unfair, just and unjust, legal and illegal, proper and improper in respect to human actions. Ethics contain moral values for doing business, Honesty, transparency, fairness, integrity, etc. are moral values that create goodwill and give an economic gain in the long run.<\/p>\n\n\n\n<p>c) Social values form an important part of the culture of society. They provide general guidelines for social conduct. Values such as fundamental rights, patriotism, respect for human dignity, rationality, sacrifice, equality, democracy, etc. influence our behavior in many ways. These social values made the business socially acceptable. As business is a part of society, it can be successful in the long run by adopting social values.<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>7) Business ethics can be considered as a tool for social development.<\/strong><\/mark><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <br>a) Business ethics is a code of conduct that evolved for regulating the activities of business towards society and others.<\/p>\n\n\n\n<p>b) It calls for the importance of fair treatment to be given to the consumers, workers, suppliers, shareholders, competitors, government, and the community at large. Business ethics promote the principles of honesty, sincerity, fairness, justice in business dealings.<\/p>\n\n\n\n<p>c) It protects the interests of all the constituents of society. It creates a healthy and competitive business atmosphere. It induces businessmen to introduce social security and welfare measures.<\/p>\n\n\n\n<p>d) The businessmen promote activities enhancing the cultural values of the society. Thus, business ethics, if practiced by businessmen in the right spirit, can be considered as a tool for social development.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q6_Attempt_the_following\"><\/span>Q.6 Attempt the following.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">1) What is social responsibility of commercial organizations towards consumers?<\/mark><\/strong><\/p>\n\n\n\n<p><strong>Answer:<\/strong><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-contrast-color\">Following are the social&nbsp;responsibility of commercial organizations<\/mark> toward<mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-contrast-color\"> consumers:<\/mark><\/strong><\/p>\n\n\n\n<p><strong>1) Good Quality Products<\/strong><\/p>\n\n\n\n<p>The organization should produce quality goods. Every organization should have its quality&nbsp;control department so inferior and substandard products can be rejected. International Standard Organization (ISO), is the latest trend toward quality control. This ensures customers&nbsp;about quality products.<\/p>\n\n\n\n<p><strong>2) Fair Prices<\/strong><\/p>\n\n\n\n<p>Consumers should not be cheated by charging high prices. Fair prices convert a one-time consumer into a permanent consumer.&nbsp;Maximum Retail Price (M.R.P.) inclusive of all taxes should be printed on every packet. Retailer should not charge any extra amount.<\/p>\n\n\n\n<p><strong>3) Customer&#8217;s Safety<\/strong><\/p>\n\n\n\n<p>The business must ensure that the product supplied will not adversely affect the life and health&nbsp;of the customers. Unsafe products should not be marketed. Consumers should be warned of any&nbsp;unsafe goods.<\/p>\n\n\n\n<p><strong>4) Honest Advertising<\/strong><\/p>\n\n\n\n<p>Consumers want to know the facts, features, advantages, side-effects, etc. of the products. So the organization must be sure that the advertisement is not misleading. A false, misleading, and vulgar advertisement should be&nbsp;avoided. Consumers will appreciate only honest advertisements in the long run.<\/p>\n\n\n\n<p><strong>5) After Sales Service<\/strong><\/p>\n\n\n\n<p>The organization is expected to provide after-sales service for maintenance of goods during the&nbsp;period of warranty. Efficient and effective after-sale service helps to establish a good relation&nbsp;between the consumers and the organization.<\/p>\n\n\n\n<p><strong>6) Research and Development<\/strong><\/p>\n\n\n\n<p>Organizations should conduct research and development to improve the quality of goods and&nbsp;to reduce the cost of production. This will minimize the final prices charged to consumers. It must&nbsp;provide quality standards such as BIS or AGMARK on respective products.<\/p>\n\n\n\n<p><strong>7) Regular Supply<\/strong><\/p>\n\n\n\n<p>Consumers should be supplied with the goods regularly as and when required by them. The&nbsp;commercial organization should not create an artificial shortage of goods by hoarding and black&nbsp;marketing.<\/p>\n\n\n\n<p><strong>8) Attend Complaints<\/strong><\/p>\n\n\n\n<p>The consumer complaints must be attended immediately. A quick and effective grievances redressal system should be implemented. Suggestions of customers should be welcomed.<\/p>\n\n\n\n<p><strong>9) Training<\/strong><\/p>\n\n\n\n<p>The business organization should arrange training for their consumers either free or by charging reasonable fees.<\/p>\n\n\n\n<p><strong>10) Avoid Customer Exploitation<\/strong><\/p>\n\n\n\n<p>Businesses should avoid unfair trade practices which lead to the exploitation of consumers. Also,&nbsp;they should avoid monopolistic competition in the interest of consumers.<\/p>\n\n\n\n<p><strong>Note: Write any 6-7 points for 5 marks question.<\/strong><\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">2) State different types of responsibilities towards society.<\/mark><\/strong><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <br><strong><mark style=\"background-color: rgba(0, 0, 0, 0);\" class=\"has-inline-color has-black-color\"><span style=\"font-weight: 600;\">A business organization has certain responsibilities towards <\/span><\/mark>society at <mark style=\"background-color: rgba(0, 0, 0, 0);\" class=\"has-inline-color has-black-color\"><span style=\"font-weight: 600;\">large they are as under:<\/span><\/mark><\/strong><\/p>\n\n\n\n<p><strong>1) Protection of the environment<\/strong><\/p>\n\n\n\n<p>Pollution is the major problem of present times. Air pollution and water pollution are due to&nbsp;industries, chemical plants, cement plants, etc. The business organization should take all possible&nbsp;measures to minimize pollution.<\/p>\n\n\n\n<p><strong>2) Better and Maximum Use of Resources<\/strong><\/p>\n\n\n\n<p>The business organization should make proper and optimum use of scarce resources. The resources like fuel, water, land, etc. must be used efficiently.<\/p>\n\n\n\n<p><strong>3) Reservation for Weaker Section<\/strong><\/p>\n\n\n\n<p>The organization is expected to reserve certain positions in their establishment for economically weaker sections of the society to lift up the economically weaker section of the society.&nbsp;These people expect financial and other help from the business unit; which will be provided from&nbsp;time to time.<\/p>\n\n\n\n<p><strong>4) Development of Backward Regions<\/strong><\/p>\n\n\n\n<p>Society requires that the business organization should be started in backward areas. This&nbsp;will create employment opportunities and increase purchasing power among rural people.&nbsp;Thereby, helping backward regions to develop.<\/p>\n\n\n\n<p><strong>5) Protest against Anti-Social Activities<\/strong><\/p>\n\n\n\n<p>Business organizations should not participate in anti-social activities. It will adversely affect&nbsp;society. No financial help should be provided for that. Smuggling, association with underworld people, and bribing government people should be avoided.<\/p>\n\n\n\n<p><strong>6) Financial Assistance:<\/strong><\/p>\n\n\n\n<p>Society expects donations and financial assistance for various social causes such as the eradication of poverty, illiteracy, etc. They expect business organizations to provide financial assistance to various awareness programs such as in anti-drug campaigns, antinoise pollution&nbsp;campaigns, etc.<\/p>\n\n\n\n<p><strong>7) Prevent Congestion<\/strong><\/p>\n\n\n\n<p>The business should avoid congestion of industries in cities by spreading industries in different&nbsp;places or locations. Industries should be preferably located in industrial zones only. It will&nbsp;avoid adverse effect on residential areas.<\/p>\n\n\n\n<p><strong>8) Employment Generation<\/strong><\/p>\n\n\n\n<p>Businesses should provide large employment opportunities for all sections of society. It can&nbsp;be done through expansion and diversification programmes. Such effort will help to solve the&nbsp;problem of unemployment, and poverty in society.<\/p>\n\n\n\n<p><strong>Note: Write any 6-7 points for 5 marks question.<\/strong><\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">3) Describe the responsibilities of the commercial organizations towards investors.<\/mark><\/strong><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <br>Investors provide finance to the company. They are creditors of the business. Businesses should&nbsp;fulfill the following responsibilities towards the investors.&nbsp;<\/p>\n\n\n\n<p><strong>1) Proper Conduct of Meetings<\/strong><\/p>\n\n\n\n<p>The company should call meetings of investors and provide information about the business. Proper&nbsp;notices of meetings should be sent to them. In a period of crisis, investors should be taken into&nbsp;confidence. Factors responsible for failure should be known to the investor.<\/p>\n\n\n\n<p><strong>2) Return on Investment<\/strong><\/p>\n\n\n\n<p>Investors invest their money in business and accept risk factors. They should get fair returns on&nbsp;investment regularly in the form of interest. The following points should be considered<br>a. Fair returns on investment <br>b. Safety of investment. <br>c. Steady appreciation of business.<\/p>\n\n\n\n<p><strong>3) Handling Grievances<\/strong><\/p>\n\n\n\n<p>A company should handle investors&#8217; grievances if any. There should be an effective methodology&nbsp;for this. All queries regarding any other issue must be answered in a satisfactory way.<\/p>\n\n\n\n<p><strong>4) Maintain Transparency<\/strong><\/p>\n\n\n\n<p>Investors provide long-term capital as well as working capital to run the business efficiently. So it&nbsp;should maintain a high degree of transparency in its operation.<\/p>\n\n\n\n<p><strong>5) Proper Disclosure of Information<\/strong><\/p>\n\n\n\n<p>Management should present full and factual information to investors. They should get regular&nbsp;reports, circulars, and statements of profit. The financial performance of the company must be&nbsp;provided correctly so that prospective investors can take right decisions to invest in future. All&nbsp;this will ensure them that their investment is safe.<\/p>\n\n\n\n<p><strong>6) Maintain Solvency and Prestige<\/strong><\/p>\n\n\n\n<p>Businesses should maintain a sound financial position, solvency, prestige, and goodwill to satisfy investors. Businesses should take continuous efforts for research, innovation, and expansion&nbsp;programme.<\/p>\n\n\n\n<p class=\"has-contrast-color has-text-color\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">4) Describe the features of business ethics.<\/mark><\/strong><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <br><strong>Refer to question number 4 (2).<\/strong><\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">5) What is corporate social responsibility?<\/mark><\/strong><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <br><strong>Meaning:<\/strong> Corporate Social Responsibility (CSR) is a self-regulating business model, that aims to contribute to&nbsp;societal goals or support volunteering or ethically-oriented practices. It makes a company socially responsible and accountable.<\/p>\n\n\n\n<p>This accountability is towards itself, its stakeholders, public in general,&nbsp;etc. By practicing social responsibility, companies can be conscious about the economic, social, and environmental aspects of society.<\/p>\n\n\n\n<p>According to UNIDO (United Nations Industrial Development Organization), &#8220;Corporate&nbsp;Social Responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders&#8221;.<\/p>\n\n\n\n<p><strong>Applicability of CSR:<\/strong><\/p>\n\n\n\n<p>1)&nbsp;The companies having a Net worth of 500 Cr. or more or a Turnover of 1000 Cr. or more; or Net&nbsp;Profit of 5 Cr. or more during any financial year shall be required to constitute a Corporate&nbsp;Social Responsibility Committee of the Board with effect from 1st April 2014.<\/p>\n\n\n\n<p>2)&nbsp;The Board&#8217;s report shall disclose the compositions of the CSR Committee.<\/p>\n\n\n\n<p>3)&nbsp;All companies shall spend, in every financial year, at least 2% of the average net profits of&nbsp;the company made during the three immediately preceding financial years, in pursuance of its&nbsp;Corporate Social Responsibility Policy.<\/p>\n\n\n\n<p>4)&nbsp;The companies shall be required to incorporate in its Board&#8217;s report an annual report on CSR.<\/p>\n\n\n\n<p><strong>CSR activities are briefly described below:<\/strong><\/p>\n\n\n\n<p>i) Eradicating hunger, poverty &amp; malnutrition, promoting preventive health care &amp; sanitation &amp;&nbsp;making available safe drinking water.<\/p>\n\n\n\n<p>ii) Promoting education, including special education &amp; employment enhancing vocation skills,&nbsp;especially among children, women, elderly &amp; the differently abled &amp; livelihood enhancement&nbsp;projects.<\/p>\n\n\n\n<p>iii) Reducing child mortality and improving maternal health by providing good hospital facilities&nbsp;and low-cost medicines.<\/p>\n\n\n\n<p>iv) Ensuring environmental sustainability, ecological balance, protection of flora &amp; fauna, animal&nbsp;welfare, agroforestry, conservation of natural resources &amp; maintaining the quality of soil, air &amp;&nbsp;water.<\/p>\n\n\n\n<p>v) Employment enhancing vocational skills.<\/p>\n\n\n\n<p>vi) Measures for the benefit of armed forces veterans, war widows &amp; their dependents.<\/p>\n\n\n\n<p>vii) Training to promote rural sports, and nationally recognized sports.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solution of other subjects<\/a><br><a href=\"https:\/\/scholarsclasses.com\/blog\/ocm-12th-commerce-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/ocm-12th-commerce-solutions\/\">Solution of all Chapters of OCM<br><\/a> <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-1st-chapter-notes\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-1st-chapter-notes\/\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-2nd-chapter-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-2nd-chapter-exercise\/\">2<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-3-exercise-solutions\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-3-exercise-solutions\/\">3<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-4-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-4-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">4<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-5-exercise-2-2\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-5-exercise-2-2\/\">5<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-7-exercise-2-2\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-7-exercise-2-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">7<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-8-exercise-2\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-8-exercise-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">8<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q7_Answer_the_following\"><\/span>Q.7 Answer the following.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">1) Explain the responsibilities of business towards employees.<\/mark><\/strong><\/p>\n\n\n\n<p><strong>Answer:<strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><br><\/mark><\/strong><\/strong>Employees are human resources to the organization. They must be treated with dignity and respect. The management and employees should develop mutual understanding and trust. The government&nbsp;has passed various labour laws to safeguard the interest of employees.<\/p>\n\n\n\n<p><strong>The business<\/strong> has the following responsibility toward<strong> employees<\/strong><\/p>\n\n\n\n<p><strong>1) Job security<\/strong><\/p>\n\n\n\n<p>Security of job provides mental peace and employees can work with full dedication and&nbsp;concentration. Commitment with the work will raise their morale and loyalty towards the&nbsp;organization.<\/p>\n\n\n\n<p><strong>2) Fair Remuneration<\/strong><\/p>\n\n\n\n<p>The business should pay attractive salaries to all their employees. Other incentives like bonuses,&nbsp;overtime allowance, etc. should be given to them. Remuneration should be fixed according to&nbsp;the nature of work. Suitable wage plans providing increments and revision of wages are also&nbsp;essential.<\/p>\n\n\n\n<p><strong>3) Health and Safety Measures<\/strong><\/p>\n\n\n\n<p>Businesses should protect the health and hygiene of employees. Canteen facilities, medical facilities,&nbsp;and proper sanitation must be provided to the workers. Proper maintenance of machines and premises&nbsp;must be done to prevent accidents and to control pollution. Safety equipment like hand gloves, safety&nbsp;shoes, helmets, goggles, masks, etc. should be provided to concerned employees.<\/p>\n\n\n\n<p><strong>4) Good Working Condition<\/strong><\/p>\n\n\n\n<p>The employees should be provided with good working conditions such as adequate lighting,&nbsp;ventilation, drinking water, etc. Necessary steps should be taken to avoid air, water, and sound&nbsp;pollution. There should be proper working hours with lunch breaks and rest pauses etc.<\/p>\n\n\n\n<p><strong>5) Recognition of Trade Unions<\/strong><\/p>\n\n\n\n<p>It is the responsibility of the business organizations to maintain industrial peace. The employer must&nbsp;recognize the workers&#8217; right to join a trade union. An employer should not restrict employees from&nbsp;forming a trade union. &#8216;Divide and Rule&#8217; policy should not be followed. Management should sort&nbsp;out various problems of workers by holding talks or negotiations with such unions. <\/p>\n\n\n\n<p><strong>6) Education and Training<\/strong><\/p>\n\n\n\n<p>The organization should make every possible attempt to educate employees. Guidance and methods of training depend on the nature of the job. &#8216;Introduction Training&#8217;, and &#8216;Refresher Training&#8217; is&nbsp;conducted to keep employees updated on the latest development. Training makes employees&nbsp;confident and also it increases their efficiency. <\/p>\n\n\n\n<p><strong>7) Workers&#8217; Participation in Management<\/strong><\/p>\n\n\n\n<p>The workers must be encouraged to take part in management by forming a workers committee.&nbsp;Suggestion schemes, and profit sharing can be encouraged by management. It will raise their morale and give them a sense of belonging.<\/p>\n\n\n\n<p><strong>8) Promotion and Career Opportunities<\/strong><\/p>\n\n\n\n<p>Businesses should offer adequate opportunities of promotion to their talented employees. They&nbsp;should give proper information about the qualifications, skills, and experience required to obtain&nbsp;a promotion. It will increase awareness among employees and they will also be motivated to&nbsp;take efforts.<\/p>\n\n\n\n<p><strong>9) Proper Grievance Procedure<\/strong><\/p>\n\n\n\n<p>There should be a proper grievance procedure to handle employees&#8217; complaints. All queries&nbsp;should be sorted quickly. The employees must feel satisfied. Investigations and necessary&nbsp;actions should be taken to settle their grievances.<\/p>\n\n\n\n<p><strong>10) Miscellaneous<\/strong><\/p>\n\n\n\n<p>a. Fair treatment to all employees.<br>b. To recognize, appreciate and encourage the special skills of employees.<br>c. To introduce a code of conduct.<br>d. To provide opportunities for meaningful work and to recognize goals.<br>e. To protect the religious, social, and political rights of employees.<br>f. Allowing the formation of informal groups.<\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">2) Define the concept of social responsibility and what is the need for social responsibility.<\/mark><\/strong><\/p>\n\n\n\n<p><strong>Answer:<strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><br><\/mark><\/strong><\/strong>The social responsibility of a business refers to its obligation to take those decisions and perform&nbsp;those actions which are desirable in terms of the objectives and values of our society. So, all the activities of the business should be performed in such a manner that they will not harm any part of society&nbsp;rather they will protect and contribute to the interest of society.<\/p>\n\n\n\n<p><strong>Keith Davis &#8211;<\/strong>&nbsp;&#8216;Social responsibility of business refers to the obligations of business man&#8217;s decisions&nbsp;and actions beyond the firm&#8217;s direct economic and technical interest.&#8217;<\/p>\n\n\n\n<p><strong><strong>Need for Social responsibility<\/strong><\/strong><\/p>\n\n\n\n<p><strong>1) Concept of Trusteeship<\/strong><\/p>\n\n\n\n<p>Trusteeship is a socioeconomic philosophy that was propounded by Mahatma Gandhi. It&nbsp;provides a means by which the wealthy people would be the trustees of trusts that looked after&nbsp;the welfare of the people in general. Businessmen are considered to be trustees of the society.<\/p>\n\n\n\n<p><strong>2) Changing expectations of society<\/strong><\/p>\n\n\n\n<p>Society&#8217;s expectations from business firms have undergone a drastic change over the years. In&nbsp;the early days, businesses were viewed only as a provider of goods and services. But today society expects businesses to be responsible citizens and contribute towards social&nbsp;welfare.<\/p>\n\n\n\n<p><strong>3) Reputation<\/strong><\/p>\n\n\n\n<p>Businesses spend a huge amount of resources on brand building and strengthening their image.&nbsp;A socially responsible company enjoys a good reputation in society. It results in increased&nbsp;sales, profitability, the attraction of talent, and sustained growth.<\/p>\n\n\n\n<p><strong>4) Protection of the Environment<\/strong><\/p>\n\n\n\n<p>The business organization should make proper use of the country&#8217;s natural resources. They should&nbsp;avoid environmental degradation such as contamination of water resources, depletion of the&nbsp;ozone layer, etc. which have been caused by businesses. These have resulted in poor health of&nbsp;the community and placed a question mark on the survival of the human species.<\/p>\n\n\n\n<p><strong>5) Optimum Utilisation of Resources<\/strong><\/p>\n\n\n\n<p>Modern businesses have huge amount of resources at their disposal. With such large resources,&nbsp;businesses are in a better position to protect society&#8217;s interests. Wastage of resources should be&nbsp;avoided.<\/p>\n\n\n\n<p><strong>6) Pressure of trade Union<\/strong><\/p>\n\n\n\n<p>Nowadays, workers have become conscious of their rights. Trade unions are growing fast and&nbsp;play important role in a business environment. Workers expect management to provide fair&nbsp;wages, bonuses, etc. to avoid conflicts between trade unions and management. To avoid conflicts, businesses should understand the responsibility and act accordingly.<\/p>\n\n\n\n<p><strong>7) Growth of Consumer Movement<\/strong><\/p>\n\n\n\n<p>The development of education and mass media and increasing competition in the market have&nbsp;made the consumers conscious of their rights and powers in determining market forces. So,&nbsp;business enterprises have to follow consumer-oriented policies.<\/p>\n\n\n\n<p><strong>8) Government Control<\/strong><\/p>\n\n\n\n<p>From the point of view of a business, government regulations are undesirable because they&nbsp;limit freedom. The government has enacted various laws. This has put moral as well as the legal&nbsp;pressure on businesses.<\/p>\n\n\n\n<p><strong>9) Long-term self interest<\/strong><\/p>\n\n\n\n<p>A firm and its image stand to gain maximum profits in the long run when it has its highest&nbsp;goal as &#8216;service to society when an increasing number of members, of society- including workers,&nbsp;consumers, shareholders, and government officials, feel that business enterprise is not serving&nbsp;their interest, they will tend to withdraw their cooperation to the enterprise concerned so in&nbsp;their own self-interest, a firm fulfills its social responsibility.<\/p>\n\n\n\n<p><strong>10) Complexities of Social Problems<\/strong><\/p>\n\n\n\n<p>Some of the social problems have been created by business firms themselves such as pollution,&nbsp;unsafe workplaces, discrimination, etc. It is the moral obligation of businesses to solve such&nbsp;social problems.<\/p>\n\n\n\n<p><strong>11) Globalisation<\/strong><\/p>\n\n\n\n<p>The entire globe is the marketplace nowadays. lt provides more opportunities and challenges&nbsp;to business. International trade barriers have reduced and resulted in the global distribution of&nbsp;goods and services. Countries that have adopted good practices are influencing the world.<\/p>\n\n\n\n<p><strong>12) Role of Media<\/strong><\/p>\n\n\n\n<p>Media plays important role in public life. Due to the internet, it is easier to reach a common man.&nbsp;The media is very vibrant and active. It can influence the masses in society. The media can raise voices against&nbsp;business malpractices and the exploitation of consumers. Businesses should not ignore&nbsp;social values.<\/p>\n\n\n\n<p><strong>Note: Write 8 to 10 points with an explanation when the question is asked for 8 marks.<\/strong><\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">3) Explain the responsibilities of a business unit towards society at a large.<\/mark><\/strong><\/p>\n\n\n\n<p><strong>Answer:<strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><br><\/mark><\/strong>Responsibilities towards Community \/Society\/ Public at large:<\/strong><br>A business organization has certain responsibilities towards society at large they are as under:<\/p>\n\n\n\n<p><strong>1) Protection of the environment<\/strong><\/p>\n\n\n\n<p>Pollution is the major problem of present times. Air pollution and water pollution are due to&nbsp;industries, chemical plants, cement plants, etc. The business organization should take all possible&nbsp;measures to minimize pollution.<\/p>\n\n\n\n<p><strong>2) Better and Maximum Use of Resources<\/strong><\/p>\n\n\n\n<p>The business organization should make proper and optimum use of scarce resources. The resources like fuel, water, land, etc. must be used efficiently.<\/p>\n\n\n\n<p><strong>3) Reservation for Weaker Section<\/strong><\/p>\n\n\n\n<p>The organization is expected to reserve certain positions in their establishment for economically weaker sections of the society to lift up the economically weaker section of the society.&nbsp;These people expect financial and other help from the business unit; which will be provided from&nbsp;time to time.<\/p>\n\n\n\n<p><strong>4) Development of Backward Regions<\/strong><\/p>\n\n\n\n<p>Society requires that the business organization should be started in backward areas. This&nbsp;will create employment opportunities and increase purchasing power among rural people.&nbsp;Thereby, helping backward regions to develop.<\/p>\n\n\n\n<p><strong>5) Protest against Anti-Social Activities<\/strong><\/p>\n\n\n\n<p>The business organization should not participate in anti-social activities. It will adversely affect&nbsp;society. No financial help should be provided for that. Smuggling, association with underworld people, and bribing government people should be avoided.<\/p>\n\n\n\n<p><strong>6) Financial Assistance<\/strong><\/p>\n\n\n\n<p>Society expects donations and financial assistance for various social causes such as eradication of poverty, illiteracy, etc. They expect the business organizations to provide financial assistance to various awareness programs such as anti-drug campaigns, anti-noise pollution&nbsp;campaigns, etc.<\/p>\n\n\n\n<p><strong>7) Prevent Congestion<\/strong><\/p>\n\n\n\n<p>The business should avoid congestion of industries in cities by spreading industries in different places or locations. Industries should be preferably located in industrial zones only. It will&nbsp;avoid adverse effects on residential areas.<\/p>\n\n\n\n<p><strong>8) Employment Generation<\/strong><\/p>\n\n\n\n<p>Businesses should provide large employment opportunities for all sections of society. It can&nbsp;be done through expansion and diversification programmes. Such effort will help to solve the&nbsp;problem of unemployment, and poverty in society.<\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">4) What are the responsibilities of business towards investors and government?<\/mark><\/strong><\/p>\n\n\n\n<p><strong>Answer:<strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><br><\/mark><\/strong>Responsibilities of business Towards Investors<\/strong><br>Investors provide finance to the company. They are creditors of the business. Businesses should&nbsp;fulfill the following responsibilities towards the investors.&nbsp;<\/p>\n\n\n\n<p><strong>1) Proper Conduct of Meetings<\/strong><\/p>\n\n\n\n<p>The company should call meetings of investors and provide information about the business. Proper&nbsp;notices of meetings should be sent to them. In a period of crisis, investors should be taken into&nbsp;confidence. Factors responsible for failure should be known to the investor.<\/p>\n\n\n\n<p><strong>2) Return on Investment<\/strong><\/p>\n\n\n\n<p>Investors invest their money in business and accept risk factors. They should get fair returns on&nbsp;investment regularly in the form of interest. The following points should be considered<br>a. Fair returns on investment <br>b. Safety of investment. <br>c. Steady appreciation of business.<\/p>\n\n\n\n<p><strong>3) Handling Grievances<\/strong><\/p>\n\n\n\n<p>A company should handle investors&#8217; grievances if any. There should be an effective methodology&nbsp;for this. All queries regarding any other issue must be answered in a satisfactory way.<\/p>\n\n\n\n<p><strong>4) Maintain Transparency<\/strong><\/p>\n\n\n\n<p>Investors provide long-term capital as well as working capital to run the business efficiently. So it&nbsp;should maintain a high degree of transparency in its operation.<\/p>\n\n\n\n<p><strong>5) Proper Disclosure of Information<\/strong><\/p>\n\n\n\n<p>Management should present full and factual information to investors. They should get regular&nbsp;reports, circulars, and statements of profit. The financial performance of the company must be&nbsp;provided correctly so that prospective investors can take the right decisions to invest in the future. All&nbsp;this will ensure them that their investment is safe.<\/p>\n\n\n\n<p><strong>6) Maintain Solvency and Prestige<\/strong><\/p>\n\n\n\n<p>Businesses should maintain a sound financial position, solvency, prestige, and goodwill to satisfy investors. Businesses should take continuous efforts for research, innovation, and expansion&nbsp;programmes.<\/p>\n\n\n\n<p><strong>Responsibilities Towards Government:<\/strong><br>The government regulates and controls business with the objectives of systematic economic&nbsp;development of the country and safeguarding the interests of the common man. The government provides&nbsp;incentives and subsidies to businesses. Following are the responsibilities of the organization towards&nbsp;the government.<\/p>\n\n\n\n<p><strong>1) Timely Payment of Taxes<\/strong><\/p>\n\n\n\n<p>The government imposes various types of taxes like sales tax, income tax, wealth tax, etc. Business units should pay these taxes from time to time. It would be difficult for the government to&nbsp;undertake development projects without the availability of funds.<\/p>\n\n\n\n<p><strong>2) Observing rules and regulations<\/strong><\/p>\n\n\n\n<p>The rules framed by the government for business should be fully complied with. The business&nbsp;should follow the laws regarding obtaining a license for a specified business, the operation of&nbsp;the business, price determination and production, etc. They should conduct business in a lawful&nbsp;manner.<\/p>\n\n\n\n<p><strong>3) Earning Foreign Exchange<\/strong><\/p>\n\n\n\n<p>The government also expects from business organizations that it will earn foreign exchange by&nbsp;exporting goods. The government requires this foreign exchange for importing various goods.&nbsp;valuable and important products.<\/p>\n\n\n\n<p><strong>4) Economic Development<\/strong><\/p>\n\n\n\n<p>The government sets the targets for the balanced and rapid economic development of the country.&nbsp;The business organization should provide necessary cooperation to the government.<\/p>\n\n\n\n<p><strong>5) Implementing Socio-Economic Policies<\/strong><\/p>\n\n\n\n<p>The government expects cooperation and help from the business sector in implementing socio-economic programmes and policies.<\/p>\n\n\n\n<p><strong>6) Suggestions to the Government<\/strong><\/p>\n\n\n\n<p>The business organization can provide suggestions to the government before framing important policies such as Industrial Policy, Import Export Policy, Licensing Policy etc. Such suggestions are helpful for framing organization-friendly policies.<\/p>\n\n\n\n<p><strong>7) No favours<\/strong><\/p>\n\n\n\n<p>The commercial organization should not take any favour from the government officials by&nbsp;bribing or influencing them.<\/p>\n\n\n\n<p><strong>8) Contributing to Government Treasury<\/strong><\/p>\n\n\n\n<p>The commercial organisation must contribute funds to the government during emergencies and natural disasters, such as floods and earthquakes.<\/p>\n\n\n\n<p><strong>Note: Write 5-5 points from each section with an explanation when the question is asked for 8 marks.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"12th_Commerce_OCM_Textbook_Solutions\"><\/span>12th Commerce OCM Textbook Solutions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Chapter Name<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-1st-chapter-notes\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-1st-chapter-notes\/\">1) Principles of Management<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-2nd-chapter-exercise\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-2nd-chapter-exercise\/\">2) Functions of Management<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-3-exercise-solutions\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-3-exercise-solutions\/\">3) Entrepreneurship Development<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-4-exercise\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-4-exercise\/\">4) Business Services<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-5-exercise-2-2\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-5-exercise-2-2\/\">5) Emerging Modes of Business<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-7-exercise-2-2\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-7-exercise-2-2\/\">7) Consumer Protection<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-8-exercise-2\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-ocm-chapter-8-exercise-2\/\">8) Marketing<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"Check_out_other_posts_related_to_12th_Commerce\"><\/span>Check out other posts related to 12th Commerce<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.youtube.com\/@Scholarszilla\" data-type=\"link\" data-id=\"https:\/\/www.youtube.com\/@Scholarszilla\" target=\"_blank\" rel=\"noopener\">12th Commerce Video Lectures<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/ebalbharti-12th-books-pdf\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/ebalbharti-12th-books-pdf\/\"> Free PDF of 12th Commerce Textbooks <\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/hsc-it-online-exam\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/hsc-it-online-exam\/\">12th Commerce IT MCQ Preparation (Online Test)<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/new-paper-pattern-of-12th-commerce\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/new-paper-pattern-of-12th-commerce\/\"> Free PDF of 12th Commerce Textbooks <\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/sample-question-paper-for-12th-commerce\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/sample-question-paper-for-12th-commerce\/\">Sample Paper of 12th Commerce for Practice PDF<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-navneet-practice-papers-pdf\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-navneet-practice-papers-pdf\/\">PDF of Solved Sample papers of 12th Commerce to improve Paper Presentation<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/hsc-previous-year-question-paper\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/hsc-previous-year-question-paper\/\">Old Question Papers of 12th Commerce with solution (All Subjects)<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-contrast-color has-text-color\"><span class=\"ez-toc-section\" id=\"Online_lectures_of_Class_12_Commerce\"><\/span>Online lectures of Class 12 Commerce<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\ud83d\udd17 Share our videos and channel with your friends, and help us grow this channel.<br>Learn the Chapters of Accounts from our playlist.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/rb.gy\/c9pmbq\" data-type=\"link\" data-id=\"https:\/\/rb.gy\/c9pmbq\" target=\"_blank\" rel=\"noopener\">Issue of Shares<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/rb.gy\/3f7zhl\" data-type=\"link\" data-id=\"https:\/\/rb.gy\/3f7zhl\" target=\"_blank\" rel=\"noopener\">Bills of Exchange<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/rb.gy\/v5flhj\" target=\"_blank\" rel=\"noopener\">Dissolution of Partnership Firm<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/rb.gy\/jpjgd8\" data-type=\"link\" data-id=\"https:\/\/rb.gy\/jpjgd8\" target=\"_blank\" rel=\"noopener\">NPO<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/rb.gy\/nhy2xy\" data-type=\"link\" data-id=\"https:\/\/rb.gy\/nhy2xy\" target=\"_blank\" rel=\"noopener\">Analysis of Financial Statement<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/rb.gy\/nhy2xy\" data-type=\"link\" data-id=\"https:\/\/rb.gy\/nhy2xy\" target=\"_blank\" rel=\"noopener\">Admission of Partner<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/playlist?list=PLGiOLU46prNe6tQIJakepd3uGvatQyBUe\" data-type=\"link\" data-id=\"https:\/\/www.youtube.com\/playlist?list=PLGiOLU46prNe6tQIJakepd3uGvatQyBUe\" target=\"_blank\" rel=\"noopener\">Information Technology Lectures.<\/a><\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/scholarsclasses.com\/blog\/hsc-question-paper-2021\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/hsc-question-paper-2021\/\">12th Commerce March 2021 Question Papers<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/scholarsclasses.com\/blog\/hsc-question-paper-july-2022\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/hsc-question-paper-july-2022\/\">12th Commerce July 2022 Question Papers<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/scholarsclasses.com\/blog\/hsc-question-paper-2022\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/hsc-question-paper-2022\/\">12th Commerce March 2022 Question Papers<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/scholarsclasses.com\/blog\/hsc-question-paper-2023\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/hsc-question-paper-2023\/\">12th Commerce March 2023 Question Papers<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/scholarsclasses.com\/blog\/hsc-question-paper-july-2023\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/hsc-question-paper-july-2023\/\">12th Commerce July 2023 Question Papers<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/scholarsclasses.com\/blog\/hsc-commerce-question-paper-2024\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/hsc-commerce-question-paper-2024\/\">12th Commerce Feb 2024 Question Papers<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/scholarsclasses.com\/blog\/hsc-commerce-question-paper-2025\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/hsc-commerce-question-paper-2025\/\">12th Commerce Feb 2025 Question Papers<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":20018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[5102],"class_list":["post-19823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hsc-maharashtra-board","tag-12th-ocm-chapter-6-exercise"],"_links":{"self":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/19823","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/comments?post=19823"}],"version-history":[{"count":22,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/19823\/revisions"}],"predecessor-version":[{"id":41668,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/19823\/revisions\/41668"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media\/20018"}],"wp:attachment":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media?parent=19823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/categories?post=19823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/tags?post=19823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}