MCQ

Partnership is the relation which subsists between persons who have agreed to combine their property,

labour or skill in some business and to share the profits there from between them.

• True

• False

• Partly true

• None of the above

It is optional for a partnership firm to get registered

• True

• False

• Partly true

• None of the above

Tick all the types of partners in India

• Active

• Dormant

• Still

• Sleeping

What is a Sole Proprietorship?

• Business owned by president

• Business owned by several companies

• Business owned by one person

• Business owned by a company

A Sole proprietor concern is free from regulation by

• Indian Contract Act

• Government

• Private Indian

• Indian Law

What is start up capital?

• Finance needed before starting trading.
• Finance paid after trading.
• Finance paid to banks.

Profit is important to businesses because:

• it improves businesses, cash balances
• it can be used to measure business size
• it is a measure of businesses, success
• businesses need to pay taxes to the government

This is the cash that is generated by the business when it operates successfully

• Retained profits

• Share capital

• Angel investor

• Owner savings

A short-term source of finance from a bank that usually is only used in an emergency/when needed

• Overdraft

• Loan

• Share capital

• Credit card

Which means the same as human resources

• Personnel

• Knowledge

• People

• skills

• people