FORMS OF BUSINESS ORGANISATION

Sole Proprietors have ....................... liability

• Limited

• Unlimited

• Joint and Limited

• Joint and Unlimited

It is not possible to maintain secrecy and confidentiality under sole proprietorship

• The statement is true

• The statement is false

• Depends on the nature of the Business

• Depends on the size of business

The minimum and maximum number of partners in a partnership firm are:

• 2 and 100 respectively

• 2 and 50 respectively

• 10 and 100 respectively

• 10 and 50 respectively

Which of the following laws governs partnership form of business organisation

• Indian Partnership Act,1930

• Indian partnership Act 1932

• Indian Partnership Act,1950

• Indian Patnership Act,1952

Is it compulsory for a partnership firm to get registered?

• yes

• no

• depends on the nature of the business

• depends on the size of the business

Madhu, Himanshu and Mayank are doing business in partnership. As per the terms, the liability of Madhu and Mayank is limited while the liability of Himanshu is unlimited. What type of partnership is being followed by them?

What is the minimum number of members required for a joint hindu family business?

• one

• two

• three

• five

Membership in Joint Hindu Family Business occurs by which of the following modes?

• Agreement

• Marriage

• birth

• None of these

After the death of Karta, the joint hindu family business comes to an end

• the statement is true

• the statement is false

• Depends on the nature of the business

• Depends on the mutual decision of the members

Which of the following law governed Joint Hindu Family business?

• Hindu Succession Act,1956

• Hindu Succession Act,1954

• Hindu Succession Act,1950

• Hindu Succession Act,1952