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

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

• Insolvency

• Death

• Insanity

• All the above

A sole proprietor is free from regulation by?

• Indian contract act

• Government

• Private Indian

• Indian Law

Sole proprietorship business can be started by

• at least seven persons

• any one person

• at least two persons

• at least three persons

Sole Proprietorship is most suitable for

• Medium scale concerns

• Large scale concerns

• Small scale concerns

• None of the above

What is the minimum number of owners for a partnership business?

• One

• Two

• Three

• Four

Which of the following partners stand to lose everything if the business fails?

• General

• Unlimited

• Sleeping

• Limited