CBSE NET COMMERCE QUESTIONS WITH ANSWER

Unit-I Teaching Aptitude · Teaching: Concept, Objectives, Levels of teaching (Memory, Understanding and Reflective), Characteristics and basic requirements. · Learner’s characteristics: Characteristics of adolescent and adult learners (Academic, Social, Emotional and Cognitive), Individual differences. · Factors affecting teaching related to: Teacher, Learner, Support material, Instructional facilities, Learning environment and Institution. · Methods of teaching in Institutions of higher learning: Teacher centred vs. Learner centred methods; Off-line vs. On-line methods (Swayam, Swayamprabha, MOOCs etc.). · Teaching Support System: Traditional, Modern and ICT based. · Evaluation Systems: Elements and Types of evaluation, Evaluation in Choice Based Credit System in Higher education, Computer based testing, Innovations in evaluation systems. Unit-II Research Aptitude · Research: Meaning, Types, and Characte

OBJECTIVE OF INFORMATION TECHNOLOGIES ACT 1. It is objective of I.T. Act 2000 to give legal recognition to any transaction which is done by electronic way or use of internet. 2. To give legal recognition to digital signature for accepting any agreement via computer. 3. To provide facility of filling document online relating to school admission or registration in employment exchange. 4. According to I.T. Act 2000, any company can store their data in electronic storage. 5. To stop computer crime and protect privacy of internet users. 6. To give legal recognition for keeping books of accounts by bankers and other companies in electronic form. FEATURE OF IT ACT  1.Focusing on data privacy 2.Focusing on Information Security 3.Defining cyber café 4.Making digital signature technology neutral 5.Defining reasonable security practices to be followed by corporate 6.Redefining the role of intermediaries 7.Recognizing the role of Indian Computer Emergency Response Team 8.Incl

BACKGROUND Limited Liability Partnership (LLP) is a separate legal entity which has the benefits of “Limited Liability”. It is governed and registered under the Limited Liability Partnership Act, 2008 and the rules made thereunder. Small and Medium Enterprises (SMEs) can function as LLP. LLP is suitable for service sector especially for the professionals like Company Secretaries, Chartered Accountants, Lawyers, Cost Accountants, etc. SALIENT FEATURES OF LLP  1. Separate Legal Entity / Status;   2.Limited Liability;  3.Perpetual Succession;   4.Can sue and can be sued;   5.Minimum number of partners is two (individual or body corporate);  6.No upper limit for maximum number of partners   7.No requirement of minimum capital contribution  8.Easy and low cost to form  9.Easy dissolution or winding up  10.No need to maintain other statutory records excpet Books of Accounts  11.Less compliances as compared to any company IMPORTANT FACTS: All the Design

WHY COMPETITION ACT WAS INTRODUCED ? The Monopoly and Restrictive Trade Practice Act 1969 became obsolete in the present world of throat cutting competition. The MRTP Act prevent the expansion of the companies whose assets was 100 crore, because these companies need to take government permission to expand their business. So there was a desperate need to shift our focus from the monopoly to the competition. Hence a new law has been enacted and published in the gazette of India on 14 January, 2003 for bringing competition in the Indian market. OBJECTIVE OF COMPETITION ACT, 2002 1. To protect the interests of the consumers by providing them good products and services at reasonable prices. 2. To promote healthy competition in the Indian market. 3. To prevent the interests of the smaller companies or prevent the abuse of dominant position in the market. 4. To prevent those practices which have adverse impact on competition in the Indian markets. 5. To ensure freedom of trade i

                                                     CONTRACT OF INDEMNITY - A contract of indemnity is considered as contingent contract. It is  a contractual agreement between two parties whereby one party agrees to pay for potential losses or damages caused by another party. A typical example is an insurance contract, in which the insurer or the indemnitor agrees to compensate the other (the insured or the indemnitee) for any damages or losses in return for premiums paid by the insured to the insurer. With indemnity, the insurer indemnifies the policyholder—that is, promises to make whole the individual or business for any covered loss. Indemnity is somewhat similar to compensation. Its main purpose is to compensate the loss incurred and not make profits out of mishaps. In contract of indemnity there are two parties. Indemnifier and indemnity holder. In contract of indemnity there is only one agreement CONTRACT OF GUARANTEE- A contract of g

WHAT IS NEGOTIABLE INSTRUMENT - A negotiable instrument is a document, a written order, with the payer named on it – it guarantees the payment of a specified amount of money, either immediately (on demand) or at a future date. A negotiable instrument promises the payment without condition. The document may be used and interpreted in slightly different ways, depending on what country it is used in and what law is being applied, as well as its context. TYPES OF NEGOTIABLE INSTRUMENTS; Cheques, promissory notes and bills of exchange Promissory Note :   involves two parties, the payee (receives the note/money) and the maker of the note. The maker promises to pay a specific amount of money to the payee. Bill of Exchange : involves three parties: 1. The drawer of the bill – they draft the bill. 2. The drawee – the party who is called on to make the payment. 3. The payee – the party to whom payment is to be made. Cheque : – this is an example of a bill of exchange, where the p

SALE OF GOODS ACT, 1930 SALE -A ‘ Contract of Sale ‘ is a type of contract whereby one party (seller) either transfers the ownership of goods or agrees to transfer it for money to the other party (buyer). A contract of sale can be a sale or an agreement to sell. In a contract of sale, when there is an actual sale of goods, it is known as  Sale AGREEMENT TO SALE - whereas if there is an intention to sell the goods at a certain time in future or some conditions are satisfied, it is called an  Agreement to sell . DOCTRINE OF CAVEAT EMPTOR -Buyer in a contract of sale of specific goods will purchase them at his own risk with regard to the quality or fitness of the goods except in case of fraud or where a condition to that effect is laid down in the contract itself. RIGHT OF UNPAID SELLER - unpaid seller can exercise any of the following rights. 1.right of lien 2.right of stoppage in transit 3.right of resale RIGHT OF BUYER - A buyer can exercise

ESSENTIALS OF VALID CONTRACT 1. Proper offer and acceptance- A contractual obligation arise when there is proper offer from one party and its acceptance by other party. 2. lawful object- the object of contract should be lawful.  3. agreement not expressly declared void 4. Free consent- the consent of parties should be free. It should not be obtained out of force . 5. Intention to create legal relationship- there should be intention to create legal relationship . 6. Certainty of meaning- the contract should be certain. Its terms and condition should not be ambiguous. 7.Capacity of parties to enter into contract- The parties to contract should be capable of entering into contract. 8.Possibility of performance- The performance of contract should be possible . 9. Lawful consideration- The consideration of contract should be legal and certain. 10. Legal formation- the contract should create legal obligation . DISCHARGE OF CONTRACT Discharge of contra