Business Organizations

Business Owned by a Single Individual

• Partnership

• Sole Proprietor

• Cooperative

• Limited Liability Company (LLC)

A sole proprietor has a limit in which of the following ability:

• managerial

• owner

• worker

• none of the above

Which of the following is an example of a sole proprietorship business firm?

• Multinational company

• School

• Retail grocery store

• NGO

Sole Proprietorship business has

• limited liability

• no liability

• 50% liability

• unlimited liability

A sole proprietor is free from regulation by?

• Indian contract act

• Government

• Private Indian

• Indian Law

The reason for the end of the sole proprietorship business can be?

• Insolvency

• Death

• Insanity

• All the above

To start a partnership business, what should be the minimum number of partners?

• 2

• 10

• 4

• 20

In partnership, partners liabilities are

• Limited

• Unlimited

• Limited to the capital invested

• Limited to the amount mentioned

Which is not a feature of a partnership business?

• Easy Formation

• Mutual Agency

• Limited Liability

• Two or more person

LLP is hybrid form of

• Sole Proprietorship and Joint stock company

• Joint Stock Company and Co-operative society

• Partnership and Sole Proprietorship

• Partnership and Joint stock company