WorksheetsBusiness Studies
Total questions: 15
Worksheet time: 8mins
The karta in Joint Hindu family business has
(a) Limited liability
(b) Unlimited liability
(c) No liability for debts
(d) Joint liability
Profits do not have to be shared. This statement refers to
(a) Partnership
(b) Joint Hindu family business
(c) Sole proprietorship
(d) Company
The maximum number of partners allowed in the banking business are_________________
Twenty
Ten
No limit
Two
_________ is an objective of sole trader
Earning profit
Rendering service
Profit with service
All the above
Sole Trader has________ objective
Economic
Non economic
Both the above
None of the above
Sole trader has__________Capital
Limited
Unlimited
The life of sole trader business is
Stable
unstable
Hindu Succession act was passed in
1956
1948
1932
1980
The minimum number of partners in a firm is
2
7
10
20
Partnership agreement is
Compulsory
Voluntary
Necessary
All the above
Te liability of all partners is
Limited
Unlimited
Partial
Proportionate
Members, other than karta _______ right to enter into contract on behalf of the family business
have
do not have
Every member of joint Hindu family business ________ right to own separate property
has
has not
Registration of partnership is_______________
Voluntary
Compulsory
The loss of the sole trader is
shared
Not shared
