B.Com 6th SEM July/Aug 2024-2025 Solved Assignments Sample

admin
SESSION july-august 2024
PROGRAM BACHELOR of COMMERCE (B.COM)
SEMESTER VI
course CODE & NAME DCM3201 & Entrepreneurship Development
CREDITS 04
nUMBER OF ASSIGNMENTS & Marks 02

30 Marks each

 

Set – 1st

Questions

 

  1. (i) Explain the role of agencies in assisting entrepreneurship.

Ans: Agencies play a crucial role in fostering entrepreneurship by providing resources, support, and infrastructure to help individuals and businesses succeed. Here’s how agencies assist entrepreneurship:

  1. Access to Funding and Financial Support
  • Grants and Loans: Agencies often offer grants, low-interest loans, or subsidies to help entrepreneurs secure the capital needed to start or expand their businesses.
  • Investment Networks: They connect entrepreneurs with venture capitalists, angel investors, and

 

Its Half solved only

Buy Complete from our online store

https://smuassignment.in/online-store/

MUJ Fully solved assignment available for session July-Aug 2024.

Lowest price guarantee with quality.

Charges INR 198 only per assignment. For more information you can get via mail or Whats app also

Mail id is aapkieducation@gmail.com

Our website www.smuassignment.in

After mail, we will reply you instant or maximum

1 hour.

Otherwise you can also contact on our

whatsapp no 8791490301.

 

 

(ii) Describe the various barriers to entrepreneurship in economic development.

Ans: Barriers to entrepreneurship in economic development are obstacles that hinder individuals or businesses from starting or growing entrepreneurial ventures. These barriers can arise from economic, social, political, or infrastructural factors. Here’s an overview of the most common barriers:

  1. Economic Barriers
  • Lack of Access to

 

 

  1. (i) Elaborate any five creativity development techniques.

Ans: Creativity development techniques are structured approaches to enhance problem-solving, idea generation, and innovative thinking.

Here are five effective techniques:

  1. Brainstorming
  • What it is: A group-based idea-generation technique where participants freely propose ideas without fear of

 

 

(ii) Explain the documentation and procedures of setting up a business.

Ans: Setting up a business involves several steps and documentation processes to ensure legal compliance and operational readiness.

Here’s a comprehensive guide:-

  1. Choosing a Business Idea and

 

 

  1. (i) Explain the qualities of a mentor.

Ans: A mentor plays a vital role in guiding, advising, and inspiring mentees to achieve personal or professional growth. Effective mentors possess a combination of interpersonal, professional, and emotional qualities.

Here are the key qualities of a mentor:

 

(ii) Describe the different ways of generating business ideas.

Ans:

 

 

Set – 2nd

Questions

 

  1. Explain the components of a business plan.

Ans: A business plan is a detailed document outlining the goals, strategies, and operational framework of a business. It serves as a roadmap for the business and is often used to secure funding or guide growth.

Here are the main

 

  1. (i) Discuss the meaning and importance of venture capitalists.

Ans: Meaning of Venture Capitalists

Venture capitalists (VCs) are investors or investment firms that provide funding to start-ups and small businesses with high growth potential in exchange for equity ownership. They typically invest in early-stage companies that may not have access to traditional financing options, such as bank loans, due to their risk profile. VCs play a critical role in fuelling innovation and entrepreneurship by offering not only financial support but also mentorship, industry connections, and strategic

 

 

(ii) Define partnership and explain its types.

Ans: Definition of Partnership

A partnership is a formal agreement between two or more individuals or entities to manage and operate a business together and share its profits, losses, and responsibilities. It is a popular business structure because it combines the resources, skills, and expertise of the partners to achieve mutual goals. Partnerships are governed by a partnership agreement and relevant legal frameworks

 

  1. (i) Explain market segmentation and its types.

Ans: Market segmentation is the process of dividing a broad target market into smaller, more manageable subgroups, or segments, of consumers who have similar needs, preferences, or characteristics. This enables businesses to tailor their marketing strategies, products, and services to better meet the specific needs of each segment.

Types of Market Segmentation

Market segmentation can be

 

 

(ii) Discuss the concept and assumptions of lean entrepreneurship.

Ans: Lean Entrepreneurship is a methodology that applies lean principles (originally from lean manufacturing) to start-ups and new ventures, aiming to maximize product success and minimize waste. It focuses on creating businesses that are efficient, adaptable, and responsive to customer needs through continuous experimentation, rapid iteration, and validated learning.

Core Concept of Lean

SESSION july-august 2024
PROGRAM BACHELOR of COMMERCE (B.COM)
SEMESTER VI
course CODE & NAME DCM3202 & PRINCIPLES AND PRACTICE OF AUDITING
CREDITS 04
  2. Set – 1st
  3. Questions
  5. Analyze the role of auditing in providing assurance to the various stakeholders.
  6. Ans: Auditing plays a pivotal role in providing assurance to various stakeholders by evaluating and verifying the accuracy, fairness, and compliance of financial and operational information.
  7. Here’s an analysis
  8. Its Half solved only
  9. Buy Complete from our online store
  11. https://smuassignment.in/online-store/
  13. MUJ Fully solved assignment available forsession July-Aug 2024.
  15. Lowest price guarantee with quality.
  16. ChargesINR 198 only per assignment. For more information you can get via mail or Whats app also
  17. Mail id is aapkieducation@gmail.com
  19. Our website smuassignment.in
  20. After mail, we will reply you instant or maximum
  21. 1 hour.
  22. Otherwise you canalso contact on our
  23. whatsapp no 8791490301.
  27. Elucidate the concept of internal check. Also explain how it is different from internal audit.

29.  Ans: Concept of Internal Check

  1. An internal check refers to a system within an organization where tasks and responsibilities are distributed among employees in such a way that the work of one employee automatically checks the work of another. This system minimizes errors, fraud, and inefficiencies by promoting
  3. Elaborate on the various types of audits conducted in large public sector listed companies in India.
  4. Ans: In large public sector listed companies in India, several types of audits are conducted to ensure compliance with statutory requirements, maintain transparency, and uphold accountability.
  5. Here is an elaboration on the
  7. Set – 2nd
  8. Questions
  10. Discuss the qualifications and disqualifications of an auditor of a Public limited company.
  11. Ans: The qualifications and disqualifications of an auditor of a public limited company in India are primarily governed by the Companies Act, 2013.
  12. Below is a detailed discussion:-
  13. Qualifications of an Auditor
  14. To be eligible for
  17. Analyze the chief points to keep in mind while undertaking the Audit of an educational institution.
  18. Ans: Auditing an educational institution, whether a school, college, or university, requires careful consideration of specific aspects unique to such organizations.
  19. Below is
  20. Analyze the challenges associated with the audit of local bodies.
  21. Ans: Auditing local bodies such as municipalities, panchayats, and urban local governance organizations involves unique challenges. These institutions manage public resources and implement government policies at the grassroots level, making the audit process complex.
  22. Below is an analysis of
SESSION july-august 2024
PROGRAM BACHELOR of COMMERCE (B.COM)
SEMESTER VI
course CODE & NAME DCM3203 & Business environment
CREDITS 04
nUMBER OF ASSIGNMENTS & Marks 02

30 Marks each

Set – 1st

Questions

 

  1. (i) Explain the SWOT analysis and steps involved in the application.

Ans: SWOT analysis is a strategic planning tool used to identify and evaluate the Strengths, Weaknesses, Opportunities, and Threats of an organization, project, or individual. It helps in understanding the internal and external factors that can affect success and decision-making.

The SWOT Components:

  1. Strengths (S): Internal factors that give an advantage over others, such as a strong brand, skilled workforce, or efficient processes.
  2. Weaknesses (W): Internal

 

 

Its Half solved only

Buy Complete from our online store

https://smuassignment.in/online-store/

MUJ Fully solved assignment available for session July-Aug 2024.

Lowest price guarantee with quality.

Charges INR 198 only per assignment. For more information you can get via mail or Whats app also

Mail id is aapkieducation@gmail.com

Our website www.smuassignment.in

After mail, we will reply you instant or maximum

1 hour.

Otherwise you can also contact on our

whatsapp no 8791490301.

 

  1. Write a short note on the given topics:

 

(i) Changing profile of the Indian economy

Ans: The profile of the Indian economy has undergone significant changes over the past few decades, driven by economic reforms, globalization, technological advancements, and demographic shifts. Here’s an overview of the key changes shaping the current profile of the Indian economy:

  1. Structural Transformation
  • Shift from Agriculture to Services: The Indian economy has transitioned from being primarily agrarian to becoming service-oriented.

 

(ii) Influence of culture on communication and decision-making.

Ans: Culture plays a significant role in shaping how individuals communicate and make decisions. It influences perceptions, values, attitudes, and behaviours, which in turn affect interpersonal interactions and the decision-making process in personal, social, and professional settings.

  1. Influence on

 

 

  1. (i) Describe the characteristics of a mixed economy.

Ans: A mixed economy is an economic system that combines elements of both capitalism and socialism, incorporating features of free markets and government intervention. This hybrid model allows for a balance between private enterprise and public control, aiming to harness the advantages of both systems

 

(ii) Explain the role of foreign direct investment.

Ans: Foreign Direct Investment (FDI) plays a crucial role in the economic development and growth of a country. It involves investment by a company or individual from one country into business interests in another country, typically by acquiring a substantial stake in a foreign company, establishing new operations, or expanding existing business activities. FDI brings in long-term capital, technology,

 

Set – 2nd

Questions

 

  1. (i) Discuss the different laws impacting the business in India.

Ans: In India, businesses operate under a comprehensive legal framework that encompasses various laws and regulations. These laws aim to regulate business operations, protect stakeholders, ensure fair practices, and maintain the country’s economic stability.

Here’s an overview of the

 

(ii) “An ideal economy is based on three principles”. Elaborate the statement.

Ans:

The statement “An ideal economy is based on three principles” typically refers to the foundational elements that create a balanced, sustainable, and inclusive economic system. While different theories might highlight varying principles, three commonly accepted principles that constitute

 

  1. (i) Describe the crisis of June 1991.

Ans: The crisis of June 1991 was a significant economic turning point for India, marking the beginning of major economic reforms in the country.

Here are the key aspects of this crisis:

Background

  • Balance of

 

 

(ii) Discuss the benefits of privatization.

Ans: Privatization refers to the transfer of ownership, management, and control of public sector enterprises to private entities. It involves shifting government-owned businesses, assets, or services to the private sector with the aim of enhancing efficiency, productivity, and overall economic

 

 

  1. (i) Explain the concept of globalization and its benefits.

Ans: Globalization refers to the process of increasing interconnectedness and interdependence among countries, cultures, and economies. It encompasses the flow of goods, services, capital, information, technology, and people across borders. Globalization has been driven by

(ii) Write a short note on the structure of WTO.

Ans: The World Trade Organization (WTO) is an international organization that regulates and facilitates international trade between nations. Established on January 1, 1995, it succeeded the General Agreement on Tariffs and Trade (GATT) and has a unique structure designed to promote

 

SESSION july-august 2024
PROGRAM BACHELOR of COMMERCE (B.COM)
SEMESTER VI
course CODE & NAME DCM3204 & Direct Taxes
CREDITS 04
nUMBER OF ASSIGNMENTS & Marks 02

30 Marks each

 

 

Set – 1st

Questions

 

  1. A. Explain the concept of Income under the Income Tax Act,1961.

Ans: Concept of Income under the Income Tax Act, 1961

The concept of income under the Income Tax Act, 1961 is defined broadly to include various sources of earnings that are subject to taxation.

As per Section 2(24) of the Income Tax Act, income includes:

  1. Salaries – The remuneration received by an individual from an employer in return for the services rendered is taxable under the head “Income from Salary.”
  2. Income from House

 

Its Half solved only

Buy Complete from our online store

https://smuassignment.in/online-store/

MUJ Fully solved assignment available for session July-Aug 2024.

Lowest price guarantee with quality.

Charges INR 198 only per assignment. For more information you can get via mail or Whats app also

Mail id is aapkieducation@gmail.com

Our website www.smuassignment.in

After mail, we will reply you instant or maximum

1 hour.

Otherwise you can also contact on our

whatsapp no 8791490301.

 

 

  1. Differentiate between Direct Taxes and Indirect Taxes.

Ans: Differentiation between Direct Taxes and Indirect Taxes

Aspect Direct Taxes Indirect Taxes
Definition Direct taxes are levied directly on the income or wealth of individuals or organizations. Indirect taxes are levied on goods and services, which are passed on to the consumer.
Who Bears the Burden? The burden of direct taxes is borne by the person on whom it is imposed. The burden of indirect taxes is passed on to the end consumer.

 

 

  1. A. The following are the incomes of Mr. Krishna for the previous year 2023-24:
  2. Income from agriculture in Pakistan Rs.30,000
  3. Salary received in India but the services were rendered in Iraq (Computed) Rs.12,000
  4. Dividend from a Domestic Company (Gross) Rs.2,000
  5. Income from a business in Sri Lanka but controlled from India and remitted to India Rs.14,000

Compute Mr. Krishna’s Gross Total Income for the Assessment Year 2024-25, if he is (i) Ordinarily resident  

(ii) Not-ordinarily resident 

(iii) Non-resident   

Ans: To compute Mr. Krishna’s Gross Total Income for the Assessment Year 2024-25, we need to apply the provisions of the Income Tax Act, 1961, concerning the residential status of Mr. Krishna.

We will compute the income under three different scenarios:-

  1. Ordinarily

 

 

  1. After serving for 33 years and 9 months at Bharat Chemicals Ltd., Mr. R, who is covered under payment of the Gratuity Act, retires from services on 30th November 2023.

The employer pays him a gratuity of Rs.9,00,000.

His monthly basic salary at the time of retirement was Rs.30,000 p.m., D.A. Rs.9,000 p.m., and HRA Rs.4,500 p.m.

You are required to compute the amount of gratuity exempt under section 10(10)(ii) of the Income Tax Act.

Ans:

To compute the exempt gratuity under Section 10(10)(ii) of the Income Tax Act, 1961, we need to follow the specific provisions for gratuity paid to employees who are covered under the Payment of Gratuity Act.

Section 10(10)(ii) – Exemption on Gratuity

Under Section 10(10)(ii),

 

  1. Mr. A is the owner of a house property in Delhi.
  • Its Municipal Value is Rs.75,000, Fair Rent is Rs.1,00,000 and Standard Rent is Rs.90,000.
  • It has been let out for Rs.90,000 p.a.
  • The municipal tax payable by the owner comes to Rs.10,000 but the landlord has taken an agreement from the tenant stating that the tenant would pay the tax directly to the municipality.
  • The landlord, however, bears the expenses on the tenant’s amenities under an agreement:
  • Water charges Rs.1,000, lift maintenance Rs.1,000, lighting of stairs Rs.800
  • The gardener’s salary is Rs.1,200.
  • The landlord claims the following deductions:
  • Repairs Rs.30,000, land revenue Rs.1,000, collection charges Rs.2,000, and legal expenses incurred in connection with the purchase of land on which the house is built Rs.24,000.

Compute the taxable income from house property for the assessment year 2024-25.

Ans:

To compute the taxable income from house property for Mr. A for the Assessment Year 2024-25, we will follow the steps under the provisions of the Income Tax Act, 1961 for determining the income from house property.

Step 1: Gross Annual Value (GAV)

The Gross Annual

 

 

 

 

Set – 2nd

Questions

  1. Mr. S, a resident of India submits the following particulars of his income for the assessment year 2024-25:
  2. Income from house let out (Computed) Rs.9,500
  3. Profit from radio business Rs.19,600
  4. Income of interest from a firm Rs.1,800
  5. Speculation income Rs.1,900
  6. Short-term capital gains Rs.3,200
  7. Long-term capital gains Rs1,400

The following items have been brought forward from the preceding assessment year 2023-24:

  1. i) loss from radio business 4,600
  2. ii) Unabsorbed depreciation 1,000

iii) Speculation loss                                                                                Rs.3,200

  1. iv) Short-term capital loss for the year 2019-20 4,100
  2. v) Long-term capital loss for the year 2020-21 3,950
  3. vi) Brought forward loss from House property 3,000

vii)Current year’s depreciation amounted                                                Rs.500.

You are required to compute his total income and deal with the carry–forward of losses.

Ans: To compute the total income of Mr. S for the Assessment Year 2024-25 and deal with the carry-forward of losses, we need to first calculate his Gross Total Income (GTI) by summing up all the sources of income and then adjust for the carry-forward losses.

Step 1: Calculation of Gross Total Income (GTI)

The income from the following sources is given:

  1. Income from House Property (Computed): ₹9,500
  2. Profit from Radio Business: ₹19,600
  3. Interest Income from Firm: ₹1,800
  4. Speculation Income: ₹1,

 

 

  1. A. The particulars of the income of Mrs. A (age 62 years) for the previous year ended 31st March 2024 are as under:
  2. Taxable income from the house property Rs.27,000
  3. Profits and gains of business Rs.9,80,000
  4. Capital gains in respect of short-term capital assets Rs.5,000
  5. Capital loss in respect of Long-term capital assets being buildings Rs.20,000

Compute the tax liability for the assessment year 2024-25.

Ans: To compute the tax liability of Mrs A (age 62 years) for the Assessment Year 2024-25, we will follow the steps below:

Step 1: Determine Gross Total Income (GTI)

Mrs. A’s income consists of the following:

  1. Taxable Income from House Property: ₹27,000
  2. Profits and Gains of Business: ₹9,80,000
  3. Capital Gains (Short-term): ₹5,000
  4. Capital Loss (Long-term): ₹20,000

Now, we calculate the Gross Total Income (GTI):

Gross Total Income=27,000+9,80,000+5,000−20,000\text{Gross Total Income} = 27,000 + 9,80,000 + 5,000 – 20,000Gross Total Income=27,000+9,80,000+5,000−20,000 Gross Total Income=9,92,000\text{Gross Total Income} = 9,92,000Gross Total Income=9,92,000

Step 2: Set Off and Carry

 

  1. Differentiate between Self–Assessment and Best Judgement Assessment.

Ans:

Key Differences between Self-Assessment and Best Judgement Assessment

Aspect Self-Assessment Best Judgement Assessment
Responsibility The taxpayer calculates and declares their income and tax. The assessing officer calculates and estimates the income and tax.

 

 

 

  1. Explain the following deductions under section 80 in Income Tax Act,1961:
  2. 80C

2.80CCD         

3.80D            

4.80E        

  1. 80G

Ans: The Income Tax Act, 1961 provides several deductions under Section 80 to encourage savings, investments, and to provide relief for certain expenditures. These deductions reduce the taxable income of an individual or Hindu Undivided Family (HUF), leading to a reduction in the amount of tax payable.

Below are the explanations for the specified deductions:-

  1. Section 80C – Deduction for Investments in Specified Financial Instruments

Section 80C offers deductions for investments in specified financial instruments, which promote long-term savings. The