Quiz on Forms of Business Organisation

What is the meaning of business organisation?

• The structure within which business activities are carried out

• A method of profit calculation

• A legal document for businesses

• A type of business model

Which of the following is a feature of Sole Proprietorship?

• Separate legal entity

• Limited capital

• Partnership agreement

• Unlimited liability

What is a limitation of a Partnership?

• Unlimited liability

• Easy to form

• Sharing of profits

• Chances of conflict

Who controls a Joint Hindu Family Business?

• The eldest male member (Karta)

• All family members equally

• The government

• A board of directors

Which act governs Cooperative Societies in India?

• Hindu Law

• Companies Act, 2013

• Indian Partnership Act, 1932

• Co-operative Societies Act, 1912

What is a merit of a Joint Stock Company?

• Single ownership

• No legal entity

• Unlimited liability

• Limited liability

Which of the following is NOT a type of Cooperative Society?

• Sole proprietorships

• Credit cooperatives

• Producer cooperatives

• Consumer cooperatives

What is a feature of a Joint Stock Company?

• No transferability of shares

• Single ownership

• Perpetual succession

• Unlimited liability

What is a limitation of a Cooperative Society?

• Service motive

• Voluntary membership

• Limited capital

• Democratic control

Which of the following is a factor influencing the choice of business organisation?

• Type of customers

• Cost and ease of formation

• Location of business

• Personal preferences