Question of 18
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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Start your 14-day free trial to unlock the full solution →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.
- 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.
- 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."
- 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.
- 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.
- 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.
- 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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