SimonMash.com | Kerala Plus One & Plus Two Study Notes, Question Papers, Answer Keys, Resources

Micro Notes: Business Studies | Chapters 1-11 | +1 Commerce (English Only) 📘 Chapter 1: NATURE AND PURPOSE OF BUSINESS Important trading centres (ancient India) Pataliputra: commercial town – export of stones. Peshawar: exporting wool & import of horses. Taxila: city of financial and commercial banks. Indraprastha: commercial junction. Mathura: emporium of trade. Varanasi: centre of textile industry. Mithila: established trading colonies in China. Surat: emporium of western trade. Kanchi: pearls, glass and rare stones. Madura: overseas trade. Business, Profession, Employment – Comparison Basis Business Profession Employment Decision of entrepreneur Own decision Membership of professional body Appointment letter Nature of work Production or purchase and sale of goods/services Rendering expert service Job ...

Unit 1: Economic Environment for Business Main Topics Covered / പ്രധാന പാഠഭാഗങ്ങൾ Meaning of Economic Environment Economic System (Capitalism, Socialism, Mixed Economy) Economic Policy (Monetary Policy, Fiscal Policy) Importance of Economic Environment National Income - Basic Concepts Methods of Measuring National Income Problems in Measuring National Income Business Cycles (Stages) 1. Meaning / അർത്ഥം The economic environment means all the economic factors that affect business in a country. ഒരു രാജ്യത്തെ ബിസിനസ്സുകളെ ബാധിക്കുന്ന എല്ലാ സാമ്പത്തിക ഘടകങ്ങളും ചേർന്നതാണ് സാമ്പത്തിക പരിസ്ഥിതി. It includes the economic system, economic policies, and current economic conditions. Example 1: When the government changes tax rates, it affects how much profit a company makes. സർക്കാർ നികുതി നിരക്ക് മ...

📘 CHAPTER 9: FINANCIAL STATEMENTS - II (Adjustments & Final Accounts) 🔹 Multiple Choice Questions (1 Mark each) 1. Income Receivable is a) an asset   b) a liability   c) a profit   d) a loss (2018 Imp – 1 Mark) Answer: a) an asset (accrued income). 2. If the salary paid during an year is Rs.5,000 and outstanding salary at the end of the year is Rs.2,000, then, the amount of salary to be debited to profit and loss account is: a) 3,000   b) 5,000   c) 2,000   d) 7,000 (2020 Mar – 1 Mark) Answer: d) 7,000 (Salary for the year = paid + outstanding = 5,000 + 2,000). 3. Outstanding salary at the end of an accounting period is a) An asset   b) A liability   c) An expense   d) a revenue (2020 Imp – 1 Mark) Answer: b) A liability . 4. Prepaid insurance is a/an a)...

📘 CHAPTER 8: FINANCIAL STATEMENTS - I (All previous years' questions – with answers) 🔹 Multiple Choice Questions (1 Mark each) 1. While marshalling the balance sheet in the order of liquidity assets comes last is? a) Debtors   b) Cash   c) Furniture   d) Bank (2019 Imp – 1 Mark) Answer: c) Furniture (least liquid among given). 2. ______ is an example of direct expense. a) Salary   b) Wages   c) Rent   d) Office expense (2020 Mar – 1 Mark) Answer: b) Wages (direct expense related to production). 3. In the Balance sheet of a sole proprietorship concern the assets and liabilities are usually arranged in a) Permanence order   b) Liquidity order   c) Trial balance order   d) Convenience order (2020 Imp – 1 Mark) Answer: a) Permanence order (or reverse, but traditionally in India, assets ...