ISBM DMS BUSINESS ADMINISTRATION EXAM ANSWER SHEET PROVIDED WHATSAPP +91 9924764558

ISBM DMS BUSINESS ADMINISTRATION EXAM ANSWER SHEET PROVIDED WHATSAPP +91 9924764558

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 Business Administration
Answer the following question.
Q1. Give advantages of soletradership (10
marks)

ANSWER

A soletradership is a business owned one person, who has full control of the business and how it is run. They also own all the assets of the business and any profit that it makes. In the same vein, they are also responsible for all the debts and liabilities the business accrues. A sole trader is expected to register as self employed with HM Revenue & Customs and will be required to submit an annual self assessment, but generally speaking their accounting requirements are less onerous than those of a limited company....................................

Q2. Discuss forecast as planning premises (10
marks)

ANSWER

Planning is made for the future. Future is uncertain the management makes certain assumptions about the future. The assumptions are not to be based on hunch or guess work. It should be developed through scientific forecasting of future events.

The assumptions derived from forecasting and used in planning are called as planning premises. According to Koontz O’Donnell.

“Planning premises are the anticipated environment in which plans are expected to operate. They include assumptions or forecasts of the future and known conditions that will affect the course of plans such as prevailing policies and existing company plans that controls the basic nature of supporting plans.”................

Q3. Discuss pricing of the product (10
marks)

ANSWER

Price goes by various names-freight, fare, license fee, tuition fee, professional charge, rent, interest, etc. But price in an enterprise/business system is seldom so simple. By definition, price is the money that customers must pay for a product or service. In other words, price is an offer to sell for a certain amount of currency...................

Q4. State and explain managerial responsibility (10
marks)
Q5. Discuss written and unwritten policies (10
marks)
Q6. Give the benefits of admitting a partner (10
marks)
Q7. Explain origin of business policies (10
marks)
Q8. Give departments of commercial office (10
marks)

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