Forms of Business organisation

There is no separate law that governs this form of business

• Sole Proprietorship

• Joint Hindu Family

• Partnership

The Karta in Joint Hindu family business has

• Limited liability

• Unlimited liability

This type of company is not prohibited from inviting public to subscribe to its shares.

• One person company

• Private company

• Public company

Profits do not have to be shared.This statement refers to

• Partnership

• Sole proprietorship

• Company

The head of the Joint Hindu family is called

• Karta

• Propriter

• Director

The minimum number of members required to form a public company is

• 2

• 5

• 7

A nominal partner is the one who

• Contribute capital

• Shares profit and losses

• none of the above

The capital of a company is divided into numbers of parts.Each part is called

• interest

• share

• profit

Business does not enjoy perceptual succession

• partnership

• company

• cooperative society

Everyone knows that he/she is a partner in the business

• Active partner

• sleeping partner

• secret partner