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![Balbharati solutions for Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board chapter 4 - Business Services - Shaalaa.com](/images/organisation-of-commerce-and-management-ocm-english-12-standard-hsc-maharashtra-state-board_6:e9ca439ec07f4f209607fc4b20334236.jpg "Balbharati solutions for Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board chapter 4 - Business Services")
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Solutions for Chapter 4: Business Services
Below listed, you can find solutions for Chapter 4 of Maharashtra State Board Balbharati for Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board.
Balbharati solutions for Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board 4 Business Services EXERCISE [Pages 89 - 93]
Select the correct option and rewrite the sentence.
Door to door service is provided by _________ transport.
Railway
Road
Air
______ creates time utility.
Warehouse
Transport
Government
Communication
______ warehouses provide facilities for perishable commodities.
Bonded
Cold storage
Government
_____________ policy covers all types of risks of a vessel while it is anchored at the port for a particular period of time.
Port risk
Voyage
Floating
The principle of ______ is not applicable to life insurance.
insurable interest
utmost good faith
indemnity
Match the pairs.
| Group ‘A’ | Group ‘B’ |
|
A) Air Transport |
1) Time utility |
|
B) Warehousing |
2) Intangible in nature |
|
C) Money remittance |
3) Fast mode of transport |
|
D) Pipeline Transport |
4) April 2019 |
|
E) Business Service |
5) Western Union Money Transfer |
|
6) Fixed deposit account |
|
|
7) Petroleum and gas |
|
|
8) Tangible |
|
|
9) Place utility |
|
|
10) Savings account |
Give one word/phrase/term for the following sentence.
These warehouses are owned, managed and controlled by central and state governments or public authorities.
Give one word/phrase/term for the following sentence.
An art of exchanging ideas, facts, information, etc . from one person or entity to another.
Give one word/phrase/term for the following sentence.
A rail system in which the track consists of a single rail or a beam.
Give one word/phrase/term for the following sentence.
A transport system used to carry petroleum and gases.
Give one word/phrase/term for the following sentence.
A ministry that looks after the development of surface transport throughout the country.
State whether following statements are true or false.
Business services are important for the growth of business.
True
False
Current Account is opened by salaried persons.
True
False
NEFT stands for National Electric Fund Transfer.
True
False
Air transport is the cheapest mode of transport.
True
False
The Internet is the global system of interconnected computer networks that use the Internet protocol suite to link devices worldwide.
True
False
Find the odd one.
Primary credit co-operative society
state co-operative bank
district co-operative bank
ex-change bank
Find the odd one.
NABARD
RBI
SIDBI
EXIM
Find the odd one.
Direct mail
Logistics post
Business post
Parcel
Find the odd one.
Endowment policy
Whole life policy
Money back policy
Blanket policy
Complete the sentence.
The term bank comes from the French word ______.
_________ warehouses provide facilities for perishable commodities
In ________ policy, several ships belonging to one owner are insured under the same policy.
_________ banking refers to the use of banking services with the help of mobile phones.
Select the correct option and complete the following table.
(RTGS, SIDBI, apex financial institution in banking industry of country, recurring deposit, long term loans)
| Group A | Group B |
| 1 _________ | fund transfer on real-time and gross basis |
| 2. loans to meet long term capital requirements | ________ |
| 3 ____________ | Account operated by salaried and businessmen both. |
| 4. Central bank | _____________ |
| 5 _____________ | Principal financial institution for MSMEs |
Answer in one sentence.
What is debit card?
Answer in one sentence.
What is 'subject matter' in insurance?
Answer in one sentence.
What is a government warehouse?
Answer in one sentence.
What is air transport?
Answer in one sentence.
What is communication?
Correct the underlined word and rewrite the following sentence.
Overdraft facility is available for savings bank account holders.
Correct the underlined word and rewrite the following sentence.
Services are tangible in nature.
Correct the underlined word and rewrite the following sentence.
Insurance helps to maximize the risks in the business.
Correct the underlined word and rewrite the following sentence.
The foreign bank is the apex financial institution in the banking industry in the country.
Correct the underlined word and rewrite the following sentence.
RTGS stands for Reasonable Time Gross Settlement.
Arrange in proper order.
Claim, Accident, Taking the policy, Compensation
Arrange in proper order.
E-mail, Inland letter, Courier
Explain the following term/concept.
Transport
Explain the following term/concept.
Communication
Explain the following term/concept.
Banking
Explain the following term/concept.
Insurance
Explain the following term/concept.
Warehousing
Study the following case/situation and express your opinion.
| Ms. Harshali has started a new business two years ago. Her customers are located in different parts of the country and hence they are directly depositing bill amounts in her business account. At the same time, she used to pay various payments from this account only. |
- Identify the Type of account maintained by Ms. Harshali.
- Suggest anyone modern way of money transfer to Ms. Harshali.
- What kind of facility does she get on her bank account?
Study the following case/situation and express your opinion.
| Mr Jagan is a salaried person. He wants to take policy for his two children which assures them protection as well as completes their financial needs once they become major by age. |
- Suggest him a policy which can satisfy the requirements of his children.
- Who are beneficiaries of policy?
- In the above case which principle is involved?
Study the following case/situation and express your opinion.
Mr Sharan is a successful manufacturer. He is having production units at various locations. He is having multiple production units, he has a large stock of raw material and finished goods. He is worried about safeguarding goods from any unwanted financial loss. He also requires transferring raw material and finished goods from one unit to another but does not have any facility for that. He also requires funds for expansion.
i) Name the service which will help him to safeguard goods from any damage?.
ii) Which service will help him to remove the difficulty of the place?
iii) From which service sector will he get financial support?
Mr. Amit is a businessman. He has his own factories in Pune and Nashik. He lives in Pune with his wife and 2 daughters aged 5 and 8 years.
- Can Mr. Amit take a life insurance policy for his wife and 2 children?
- Can Mr. Amit take a marine insurance policy for his factories?
- Which type of insurance should Mr. Amit take for protecting his factories from loss due to fire?
Distinguish between.
Duty Paid Warehouse and Bonded Warehouse
Distinguish between.
Central Bank and Commercial Bank
Distinguish between.
Road Transport and Air Transport
Distinguish between Life Insurance and Marine Insurance.
Distinguish between.
Savings Account and Current Account
Distinguish between the following:
Life insurance and Fire insurance
Distinguish between.
Road Transport and Rail Transport
Distinguish between:
Rail Transport and Air Transport
Distinguish between:
Current Account and Fixed Deposit Account
Answer in brief.
State four types of deposits.
State four modes of transport.
State four life insurance policies?
State any four features of business services?
State money remittance services of the postal department.
Justify the following statement.
Air transport is the fastest mode of transport.
Justify the following statement.
Communication is essential for the growth of the business.
Justify the following statement.
Principle of subrogation is applicable to all contracts of indemnity.
Justify the following statement.
Warehousing is important.
Justify the following statement.
Cash can be withdrawn from ATM at any time.
Attempt the following.
State money remittance services of the postal department.
Explain marine insurance policies.
Explain types of warehouses?
Explain the utility function of banks?
Explain the modes of traditional communication?
Explain the disadvantages of air transport.
Describe the role of transport?
What are the functions of warehouses?
Explain the principles of insurance.
Answer the following.
What is insurance?
Define Bank.
Explain different types of banks.
What is a warehouse?
Write a short note on the following.
Functions of a Warehouse.
Explain in detail different business services.
What is Services?
Explain in detail various types of communication.
Answer in one sentence.
What is communication?
Explain the disadvantages of road transport?
What is road transport?
Explain the advantages of road transport?
Solutions for 4: Business Services
Balbharati solutions for Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board chapter 4 - Business Services
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Concepts covered in Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board chapter 4 Business Services are Services, Business Services, Banking, Functions of Commercial Banks, E-banking Service, Insurance, Transport, Warehousing, Communication.
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