CBSE Class 11 Entrepreneurship Business Finance And Arithmetic Worksheet

BUSINESS FINANCE AND ARITHMETIC

I Answer each of these questions in about fifteen words (1 Mark)

1 Define Cash Register.

2 “There are many sources of fund that brings in money into the business”. Identify the concept.

3 Define the term break- even.

4 “When you sell your product but the buyer does not pay your money immediately”. Identify the term,

II Answer each of these questions in about fifty words (2/3 Marks)

1 Mention the items of cash outflow of the business.

2 Differentiate between Fixed and Working capital .

3 Differentiate between cash flow statement and cash flow projection.

4 “Profit is not to be considered as inflow” .Comment.

5 Differentiate between Direct and Indirect tax.

III Answer each of these questions in about one hundred and fifty words (4 Marks)

1 From the following information prepare a cash register:

a) Ms. Keerti commenced business with ₹ 5,00,000
b) Bought furniture worth ₹2,00,000 and pad freight of ₹ 5,600
c) Sold to us by Mr. Martin for cash:

• 5 coloured TV @ ₹10,000 each
• 5 LED @₹18,000 each

d) Sold to M/s Nehal for cash : 2 Colour TV @₹20,000 each
e) Returned 1 LED TV to Mr. Martin as it was defective and received payment
f) Received commission of ₹ 3000
g) Paid 3 months rent ₹ 30,000
h) Paid salary to mohan ₹2000
i) Sold to Neerja for cash

• 3 colour TV for ₹20,000
• 3 LED of ₹18,000 each for ₹ 25,000

j) Paid electricity bill of ₹ 800
k) Depreciation charged on furniture @ 5% p.a
l) Paid income tax of ₹ 3000 and sales tax of ₹ 2000

2 Define Unit of Sale, Unit Cost and Unit Price with examples.

3 Akshata has started selling readymade curtains form her own house. She purchases 100 curtains from a wholesale dealer for ₹300 per curtain and selling for ₹400 per curtain .She spent ₹400 for advertisement (pamphlets and advertising poster). She could only sell 80 curtains. Form the given information, prepare an Income Statement and find the net profit before tax/income.

4 Describe the sources of Direct and Indirect Tax.

IV Answer each of these questions in about two hundred and fifty words: (6 Marks)

1 Define Startup cost and Mention the items of startup cost.
2 The following information relates to Ramu who is running a Panipuri centre “Dum Kim Panipuri” selling different flavors.
His Fixed cost is ₹ 10,000
Variable cost is ₹ 5 per unit
Sales price is ₹10 per unit

Find :
a) Minimum number of units that must be sold for the company to break-even
b) Show break-even in terms of rupees
c) Calculate BEP in units and in rupees if:

i. Fixed cost decreases by 10%
ii. Fixed cost increases by 10 %
iii. Variable cost increases 10%
iv. Selling cost increases by 10% and fixed cost increases by ₹2000

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