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Q.(i) Controlling can not be exercised without ___________.

(ii) A rule lays down a course of ___________.
(iii) Delegation grants ___________ to subordinates.
(iv) Net working capital = ___________.
(v) Dividend refers to the amount of profit distributed among ___________.
(vi) A consumer has rights and not responsibilities. (True/False)
(vii) Which quality certification mark is used to ensure safety of electric goods?
(a) AGMARK
(b) Hall mark
(c) ISI
(d) FPO
(viii) What can serve as a proof for purchase of goods for filing a complaint in consumer forum?
Jammu Kashmir JkboseJKBOSE Class 12 Annual Regular Examination (Commerce) 2025Subjective· 8mImportance★★★★★
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Eight short objective-type items: controlling needs a standard; a rule is a rigid course of action; delegation grants authority; Net Working Capital = Current Assets − Current Liabilities; dividend goes to shareholders; "consumer has rights and not responsibilities" is False; the ISI mark certifies safety of electric goods; a cash memo/bill is the proof of purchase needed for a consumer complaint.

  1. Controlling cannot be exercised without a standard. Controlling is the process of comparing actual performance against a predetermined standard (a target, budget, or plan) and correcting deviations. Without a standard already set during planning, there is nothing to compare actual performance against, so controlling becomes meaningless.
  2. A rule lays down a course of action. A rule is the simplest type of standing plan. It states exactly what is to be done or not done in a given situation, permitting no deviation or discretion — e.g., "No smoking in the factory premises."
  3. Delegation grants authority to subordinates. Delegation is the downward transfer of authority from a superior to a subordinate so the subordinate can perform an assigned task. Note that while authority can be delegated, the superior's ultimate responsibility and accountability for the outcome cannot be delegated away.
  4. Net working capital. Net Working Capital = Current Assets − Current Liabilities. It measures the short-term liquidity available to a firm after meeting its short-term obligations.
  5. Dividend. Dividend is that portion of a company's after-tax profit that the Board of Directors decides to distribute among the company's shareholders, in proportion to their shareholding, instead of retaining it in the business.
  6. True/False — "A consumer has rights and not responsibilities." This statement is False. Under the Consumer Protection Act, a consumer has both rights (e.g., right to safety, information, choice, redressal) and responsibilities (e.g., to be aware, to read labels carefully, to ask for a bill, to avoid buying from unauthorised dealers, to use genuine trademarks/ISI/Agmark-certified goods). …

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