Std 11th Organisation of Commerce and Management

(English Medium) Text Book Corrections

Page No. Old Content New Content
Page No 1 line no - 1.6.3 Auxiliaries To
14 Trade
Page No 3 These goods may be These goods are
1.3.1 Features of consumer goods or capital consumer goods or
Business - 6) goods. capital goods.
Page No 4 In business the returns are In business the returns
1.3.1 Features of never predictable or are never guaranteed.
Business - 8) guaranteed.
Page No 4 Profession can be practiced
Profession can be
1.3.2 Profession - 4) independently or practiced independently
professionals can work under
or professionals can
someone. accept the job in any
organisation.
Page No 4 Independent practicing Independent practicing
1.3.2 Profession - 4) professional requires huge professional requires
capital for setting his capital for setting his
practice practice as per their
profession. So it differs
from profession to
profession.
Page No 5 Employer is the person who Employer is the person
1.3.3 Employment offers the work and the who offers the job and
rd
Top 3 line person who accepts the work the person who accepts
is called employee. the job is called
employee.
Page No 5 The job can be skilled or Skilled or unskilled
1.3.3 Employment unskilled labour is required as
Features – 2) per the nature of job.

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 Page No. Old Content New Content
Page No 5 Wages or Salaries is given Wages or Salaries are
1.3.3 Employment as a financial return to given as a financial
Features – 3) employee after completion of return to employee
work. Wages are decided in after completion of
advance before appointment. work. Wages and
Wages are paid daily or Salaries are decided in
weekly. Salary is paid advance before
monthly. appointment. Wages
are paid on daily
weekly or monthly
basis. Salaries are paid
on monthly basis.
Page No 5 No capital is required for Capital is not invested
1.3.3 Employment employment because by employee. It is
Features – 4) employer provide everything invested by employer.
to the employee for
completing the job.
Page No 10 B] 1.6.3 Auxiliaries To
1.6.2 B] Trade
Page No 12 Industrial activities are Industrial production is
Distinguish - meaningless without always for distribution
1) Industry & commerce. purpose to earn profit.
Commerce
6) Interdependence
Page No 12 Commercial activities Commercial activities
Distinguish - cannot be started in the cannot be started
1) Industry & absence of industry. without production of
Commerce goods and services.
6) Interdependence
Page No 89
Q. No. 1 a) 2. a) Carpenter a) Karta
Page No 91 Admission of new individual Membership by birth
Q. 1) F) 3) into existing business has into existing business is
given birth to ……. possible in …….
Page No 92 What do you mean What do you mean
Q. 1 -H) 2) 5) 6) 8) (Delete )
9) 11) Give meaning of
(Add this)

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 Page No. Old Content New Content
Page No 93 Mr. Jumbo & chartered Mr. Sawant, chartered
Q. 3 - 2) accountant by profession and accountant by
Mrs. Timbo an Architect by profession and Mr.
profession running a firm Tambe an Architect by
namely ‘Buildsheet’ in profession running a
Nagpur. firm namely ‘S. T.
Firms’ in Nagpur.
Page No 135 1953 1957
Q. 1 - F) Answer
Page No 143 3. Judiciary : Judiciary is Judiciary : Judiciary is
7.3.3 - 3. Judiciary ……… on the other hand. the third important
institution in political
system. It determines
the method of working
of government and
settles the relationship
between government
and citizens.
Page No 146 IMPACT OF NEW IMPACT OF NEW
7.5 ECONOMIC POLICY ON ECONOMIC POLICY
BUSINESS ON BUSINESS
ENVIRONMENT
Page No 167 1) State the definition of 1) State the definition
Q. 7) – 1) & 2) Management. and the features of
2) State the features of Management.
Management.
Page No 167 3) 2)
Q. 7) – 3) to 7) 4) 3)
5) 4)
6) 5)
7) 6)

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 Organisation of Commerce and Management
Std XI
English Medium
Following printing/typing mistakes to be corrected in Answer
Keys
Corrections
Page Lesson Sub-
Question Old Matter Correct
No. No. question
(wrong) Matter
170 4 1 (F) 3- Partnership 3. Joint Hindu
Firm Family
Business
(G)
1- Partnership 1. Private
Firm company
5- Private 5. Partnership
Company Firm
170 5 1 (E) 2. Bharat Heavy 2. Reserve
Electricals Limited Bank of India
171 6 1 (E) 8. 1953 8. 1957
(F) 3. 1953 3. 1957

7 1 (B) (2) A-7, B-9 A-6, B-8

7 1 (F) (4) Socialist Capitalist