Forms of Business organisations

The structure in which there is seperation of ownership and management is called

• Sole proprietorship

• Partnership

• Company

• All business organisations

Limitation of Sole Proprietorship business is

• Direct incentive

• Confidentiality of information

• Limited managerial ability

• Quick decision making

In the event of death of the existing Karta in HUF the next karta is

• Elder male member

• Eldest coparcener next to existing Karta

• Female member

• None of the above

'One man control is the best in the world if that man is big enough to manage everything' is

• Karta

• Sole Proprietor

• Sole Proprietorship business

• Joint Hindu Family business

Liability of members in HUF is

• Limited

• Unlimited

• Not specified

• None of the above

Members in HUF business are called

• Karta

• Male members

• Female members

• Coparceners

Which bill entitles women to have equal share in ancestral property of HUF?

• Hindu Succession Act, 1956

• Hindu Succession (Amendment) Bill, 2005

• Hindu Succession Act, 2006

• None of the above

In Sole Proprietorship business Control and ownership are separate for the owner

• True

• False

• Partially True

• None of the above

'One man show' form of business organisation is

• Joint Hindu family business

• Sole proprietorship business

• Organisation

• none of the above

Merit of Sole Proprietorship is

• Ease in formation and closure

• Unlimited liability

• No separate legal entity

• No perpetual succession