ISC Class 11 Commerce Syllabus 2023-24

COMMERCE (857)
Aims:
1. To develop an interest in the theory and 3. To provide a study of the more important
practice of business, trade and industry. aspects of the commercial world.
2. To familiarise candidates with theoretical 4. To provide knowledge of the activities of
foundations, organising, managing and commerce in the marketing of goods and
handling operations of a business firm. services.
CLASS XI
There will be two papers in the subject: (iii) Business objectives.
Paper I - Theory: 3 hours ……80 marks Business objectives: economic; social;
Paper II- Project Work ……20 marks human and national. Role of Profit in
business.
PAPER - I (THEORY) – 80 Marks
Part I (20 marks) will consist of compulsory short 2. Forms of Business Organisations
answer questions testing knowledge, application (i) Introduction to business organizations.
and skills relating to elementary/ fundamental Meaning, characteristics, types (private
aspects of the entire syllabus. sector, public sector, Public Private
Part II (60 marks) will consist of eight questions Partnership (PPPs) /Joint Sector).
out of which candidates will be required to answer Comparison between different types of
five questions, each carrying 12 marks. organizations.
(ii) Sole trader - objectives; formation; merits
1. Nature and Purpose of Business and demerits.
(i) Classification of human activities - Meaning and definition of sole trader;
economic and non-economic. characteristics and objectives of sole
Classification of human activities - trader; merits and demerits.
economic and non-economic. Types of (iii) Partnership
economic activities.
(a) Meaning, features; types of partners
Distinction between business, profession and partnership firms.
and employment. Meaning and definition of partnership;
(ii) Definition and concept of business; features of partnership firms; types of
classification of business activities. partners and partnerships.
Definition of business. Characteristics of (b) Registration of Partnership firms.
business. Classification of business Formation, meaning and contents of
activities: partnership deed; registration and
(a) Industry: types of industries on the consequences of non-registration.
basis of activity (primary and (c) Evaluation of partnership; merits and
secondary) and on the basis of size demerits.
(micro, small, medium and large). Self-explanatory.
Role of small businesses in India. (d) Comparison of sole proprietorship and
(b) Commerce: branches of Commerce. partnership.
Commerce - its nature and functions; Self-explanatory.
importance of Commerce. Branches of (iv) Corporate Organisations.
Commerce - trade and aids to trade. (a) Joint Stock Company: meaning,
Relationship between commerce, trade features, merits, demerits and
and industry. objectives.
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 (b) Stages of Formation of a Company. Co-operative organizations - meaning;
(c) Promotion, meaning, role and types of characteristics, advantages and disadvantages;
promoters. Types of cooperative organizations, distinction
between joint stock companies and cooperative
(d) Incorporation of a company -Meaning organizations.
and steps of incorporation (including
filing of documents), certificate of 3. Social Responsibility of Business and Business
incorporation. Ethics
(e) Memorandum of Association and
Concept and need for social responsibility.
Articles of Association (excluding
alterations) and distinction between the Responsibility towards owners, investors,
two documents. consumers, employees, government and
Meaning and contents of MOA and community; Responsibility of business towards
AOA. Distinction between the MOA protection of environment; Meaning and
and AOA. importance of Business ethics.
(f) Commencement of business. 4. Emerging Modes of Business
Steps, Certificate of Commencement. (i) E-business.
(g) Prospectus and statement in lieu of Scope and benefits, Resources required for
prospectus – meaning and contents successful e-business implementation,
only. online transactions, payment mechanisms,
(h) Types of companies- Classification of security and safety of business transactions.
companies on the basis of mode of (ii) Outsourcing.
incorporation, liability of members, Concept, need and scope of BPO and KPO.
public interest, ownership, control and
nationality. (iii) Smart Cards.
Public and private companies and their Meaning and utility.
comparative studies, privileges of 5. Stock Exchange
private companies.
(i) Meaning and importance.
(i) Global enterprises – Meaning,
characteristics, merits and demerits of (ii) Functions and services.
Global Enterprises. (iii) Major Stock Exchanges in India (BSE,
NSE, DSE, ASE) – types and locations.
(v) Public Sector Undertakings.
(iv) Types of operators – Brokers, Jobbers,
(a) Meaning; characteristics, objectives, Bulls and Bears.
role and forms of Public Sector
Undertakings (Departmental (v) Terms used in Stock Exchange - ex-
Undertakings, Public Corporations and dividend, cum dividend, spot delivery,
Government Companies). forward delivery.
Public Sector Undertakings – meaning; (vi) SEBI – functions and objectives.
characteristics, objectives, role Self-explanatory
and criticisms. Forms of Public
Sector Undertakings (Departmental 6. Trade
undertakings; Public Corporations and (i) Wholesalers.
Government companies – definitions, Meaning and services of wholesaler to
features, merits and demerits). retailer, customer and producer.
(b) Public Private Partnerships. (ii) (a) Retail trade – Meaning and
Meaning and features of PPPs. characteristics.
(vi) Co-operative organisations - meaning; Retail trade - meaning, characteristics
characteristics and types. of retail trade. Distinction between
wholesale and retail trade.

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 (b) Types of retail trade - Itinerant and 8. Insurance
small scale fixed shops: departmental (i) Insurance – Meaning, objectives and
store, chain store, mail order houses, purpose.
tele shopping, franchise, consumer
cooperative stores, hypermarkets and Meaning, objectives and purpose of
automatic vending machines. insurance; Concept of re-insurance and
double insurance.
Meaning, features, merits and demerits
to be covered. (ii) Risks in business - insurable and non-
insurable.
(c) Documents used in home trade.
Risks in business - insurable and non-
Documents and procedure used in insurable - meaning and examples of both.
home trade – inquiry; quotation; Characteristics of insurable risks.
catalogues; order; invoice; debit note;
credit note. (iii) Principles of insurance.
Price quotations - cash discount and Fundamental principles to be explained:
trade discount. utmost good faith; insurable interest;
indemnity; contribution; doctrine of
(iii) Role of Chambers of Commerce and subrogation; causa proxima. mitigation of
Industry and Trade Associations. loss.
Meaning and functions of Chambers of (iv) Types of insurance: life and non-life.
Commerce and trade associations.
Types of insurance – life, health, fire,
7. Foreign Trade marine, motor, social and fidelity insurance
(i) Meaning, difference between internal trade (Meaning and importance only).
and external trade.
Meaning and characteristics of PAPER II – PROJECT WORK – 20 Marks
international trade; problems of
international trade; advantages and Candidates will be expected to have completed two
disadvantages of international trade. projects from any topic covered in Theory.
(ii) Export trade – Meaning, objectives and Mark allocation for each Project [10 marks]:
procedure of export trade.
Overall format 1 mark
Self-explanatory. Content 4 marks
(iii) Import trade – Meaning objectives purpose Findings 2 marks
and procedure.
Viva-voce based on the Project 3 marks
Meaning and functions of import trade;
objectives, purpose and procedure.
A list of suggested Projects is given below:
(iv) Documents involved in international trade.
1. Select a daily use consumer product. Trace its
Documents involved in export trade, such origin right from the primary industry through
as: indent, letter of credit, shipping order,
the secondary and tertiary industries. Draw a
shipping bill, mate’s receipt, bill of lading,
flow chart to include all the business activities
certificate of origin, consular invoice,
documentary bill of exchange (DA/DP), all in its path from the producer to the consumer.
need to be explained. 2. Assume you are starting a partnership firm with
Documents involved in import trade, such your friend/friends. Develop a business plan
as: import license, indent, letter of credit, covering the following aspects:
documentary bill of exchange, bill of entry,
bill of sight, port trust dues receipt, Formation of this partnership firm – rules
application to import, advice note, bill of and steps that would be followed including
lading, all need to be explained. the partnership deed
(v) World Trade Organisation. Choice of types of partners involved and
WTO-meaning and objectives. your justification for the same.

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3. Select two infrastructure projects of public Comment on the changing role assumed by
sector undertakings that have been recently Corporates towards business ethics and social
commissioned. responsibility in the last two decades.
Analyze each project in terms of: 8. Identify any trade association and chamber of
commerce headquartered in your town/city.
Objectives
Study each in terms of:
Profitability
Its objectives.
Adherence to the time schedule for project
Services provided to members.
completion.
Help given to the business community.
Social utility
9. Contact an insurance agent and collect
Conclusion.
information about 5 different types of life
4. Identity two Public Private Partnership projects. insurance policies provided by different
companies. Include information as per details
Find out:
given below for every insurance plan and make
The equity participation of both the a comparative analysis.
partners.
Premium of insurance
Objectives of the partnership
Terms of inclusions and exclusions of each
Strengths both partners bring into the policy
venture.
Term of the policy
5. Select one consumer cooperative and one
Withdrawal of money from the insurance
housing cooperative.
scheme (surrender / foreclosure)
For each of the cooperatives:
Advantages/disadvantages of the plan
State the objectives.
10. Study the BPO and KPO industry in India.
The organizational structure. Collect newspaper/magazine articles on BPOs
Details of surplus distribution and the form and KPOs.
of government support. Prepare a report highlighting:
6. Study real time cases in which organizations Their contribution to the business
did not show responsibility towards investors/ community and the nation.
consumers/ employees/ government/
Their growth over the past 10 years in
community. Take at least two such cases. For
each case prepare a report based on the India.
following: Comment on the social cost of such
organisations.
A brief about of the case.
11. Visit a company that is involved in e-
Different issues involved in the case. business (which offers online services) or a
Who was at fault and why? consultancy, which helps in developing
websites for such companies.
What should the company have done to
stand by the business ethics? Study different aspects they keep in mind while
preparing business plans for e-
Do you agree with the company’s
business. Include information regarding the
viewpoint? Give reasons.
payment mechanisms, security and safety of
7. Document and analyze the Corporate Social business transactions. The risks involved in e-
Responsibility activities of a pharmaceutical business should also be covered. Also include
company and a five-star hotel. the steps they follow while implementing the
plan and starting the business.
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