
BUSINESS ORGANIZATIONS

Quiz
•
Other
•
10th - 12th Grade
•
Medium
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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