BUSINESS ORGANIZATIONS

BUSINESS ORGANIZATIONS

10th - 12th Grade

20 Qs

quiz-placeholder

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BUSINESS ORGANIZATIONS

BUSINESS ORGANIZATIONS

Assessment

Quiz

Other

10th - 12th Grade

Medium

Created by

Adekola Afolabi

Used 5+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The kind of business in which the owner bears all the risks and takes all the profit is called

partnership

joint-stock company

private limited company

sole proprietorship

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business owned by two and not more than twenty persons (except in certain professions) is called

sole proprietorship

private limited company

partnership

public limited company

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a source of capital to a sole trader?

Bank loans

Funds from shares sold to members of the public

Loans from relatives

retained profit

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The two types of partnership are

fixed and rotational partnership

profitable and unprofitable partnership

ordinary and limited partnership

passive and active partnership

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A partner who contributes capital but takes no part in managing the partnership business is called

dominant partner

active partner

dormant partner

limited partner

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If there is no written partnership agreement between members in a partnership, the business will be governed by

partnership document

decree

Partnership Act 1890

oral agreement

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Nigerian Companies Act is called

Corporate Affairs Commission

Nigerian Act for Companies Regulation

National Act for Companies Regulation

Companies and Allied Matters Act

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