BUSINESS ORGANIZATION

The most Popular form of business organization is

• Sole- Proprietorship

• Company

• Partnership

• Joint Hindu Family Business

The form of business organization which is specify found in India is

• Sole-proproetorship

• NGO

• Cooperative Society

• Joint Hindu Family Business

Cooperative Societies are compulsorily registered under which of the following Act:

• The Companies Act, 2013

• The Cooperative Societies Act, 1922

• The Indian Contract Act, 1872

• The Cooperative Societies Act, 1912

Which of the following forms of business organisation has limited liability to his members

• Partnership

• Company

• Sole proprietorship

• Joint Hindu Family business

Minimum number of members required to form a public company is:

• 12

• 1

• 7

• No Limit

Which of the following is a demerit of a partnership firm:

• Unfair distribution of profits

• Unlimited liability

• Limited managerial ability

• Dominance of one partner

Which type of organization is not bound to show its accounts to anyone:

• Company

• Partnership

• Sole proprietorship

• Cooperative society

A, B and C together made a donation of Rs.60,000 to an organization called Smart Healthcare Club. Can this contribution be called as partnership:

• Yes

• No

• Yes, if the amount contributed by A,B and C is equal
  

• None of these

Which of the following is not an advantage of a partnership firm:

• Secrecy

• Ease of Formation and Closure

• Limited liability of members

• More funds

Partner who does not take part in the day to day activities of the business is a ________ partner:

• Active

• Dormant

• Secret

• None of these