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WorksheetsForms of Business Organisation
Total questions: 60
Worksheet time: 30mins
A type of business organisation where a person individual responsible for capital, bearing risk & management is called (a)
Forms of Business which is suitable for small business is (a) .
- Sole proprietors have (a) liability
Sole proprietorship is a form of business organisation which is outlined, managed and controlled by an (a) .
A person running a retail shop, beauty parlous, saloons in a locality is known as (a) form of business
The head of the family, in Hindu Undivided family is called ---------------.
(a)
The liability of all member, except the karta in Hindu Undivided family is (a) .
After the death of Karta, as the next (a) member takes up the position of Karta
The regulatory body, which is set up for the protection of investors is ---------------------
(a)
The most important document used in partnership business is (a) .
Registration of a partnership business is (a)
In a general partnership liability of partners is (a)
The liability of members of a cooperative society is (a) to the extent of their capital contribution.
The membership of a cooperative society is (a) .
The cooperative society lays emphasis on (a) motive.
.In a Joint Stock Company the board of directors are elected by the (a) .
Joint stock Company enjoys (a) , as members may come and go, but the co. continues to exist.
The company acts through its Board of Directors and enters into an agreement through a(n) (a) .
The liability of a company is limited to the extent of the amount (a) on the shares held by them.
The formation of a company is a time consuming, (a) and a complicated process.
The maximum number of shareholders in any Private company is (a)
Minimum (a) (number of )members can start private company.
MOA is also known as ----------- document of the company
(a)
Object clause defines the -----------for which the co.is formed.
(a)
Articles of association are the rules regarding ------- management of a co.
(a)
Sole proprietor bears profit and loss individually.
true
false
There is a separate law that governs sole proprietorship.
true
false
There is lack of business continuity in sole proprietorship business organisation.
true
false
In sole proprietorship business operations are confidential and secret.
true
false
The HUF business come to an end after the death of the Karta.
True
False
Before commencing business, it is necessary to receive minimum subscription in Public Company.
True
False
Appointment of underwriters is necessary in the capital subscription stage.
True
False
A company inviting funds from general public must conceal any material information from potential investors.
True
False
A nominal partner is one who allows the use his/her name by a firm, but does not contribute capital.
True
False
Marketing cooperative society is established to help small producers in selling their products.
True
False
.A Private company can raised funds after issuing prospectus.
True
False
There is no limit on maximum member in a public company
True
False
Issued capital of A tech ltd.was Rs. 5o crore, co.gets the subscribed capital of Rs.44 crore. Now company can allot share to shareholders.
True
False.
In which type of business organisation the owner does not share his/her profit.
a) Partnership
b) Cooperative society
c) Sole proprietorship
d) Joint Hindu family
Which type of business organisation is the most popular and suitable for Small business.
a) Joint Hindu Family
b) Sole Proprietorship
c) Partnership
d) Cooperative society
Which type of business organisation is easy to form and there is no separate low for
a) Sole Proprietorship
b) Cooperative society
c) Joint Hindu Family
d) Partnership
Which is not a limitation of Sole proprietorship.
a) Limited resources
b) Limited life of business
c) Easy formation
d) limited managerial ability
The Act which governs the formation of a partnership business is Indian Partnership Act.
(a). 1932
(b). 1956
(c). 1949
(d). 1912
On the basis of duration partnership is divided into.
(a). 4
(b). 2
(c). 5
(d). 6
The minimum number of members required to form a cooperative society is-
a) Five
b) Ten
c) Twenty
d) Two
The cooperative society is required to be registered under the Cooperative Society Act______
a) 2013
b) 1932
c) 1956
d) 1912
Name the business organisation which has a legal status independent of its members.
a) HUF
b) Sole proprietorship
c) Joint Stock Company
d) Cooperative Societies
Who undertakes the management & control of the affairs of the company on behalf of its owners?
a) Board of Directors
b) Departmental Heads
c) Managing Directors
d) Vice president
Find out the liability of Kavita in a company. Who is a shareholder, holding 3,000 shares of Rs. 10 each. She has already paid Rs. 6 per share.
a) Rs 10,000
b) Rs. 1,20,000
c) Rs 18,000
d) Rs. 12000
Which form of organisation is suitable if direct control over operations & absolute decision making power is required in business?
a) Joint Stock Co.
b) cooperative society
c) Sole proprietorship
d) HUF
Capital clause specifies—
a) authorised capital
b)subscribed capital
c)paid up capital
d)issued capital
Which document is subsidiary of the MOA
a) prospectus
b) articles of association
c) consent of directors
d) table A
Identify the type of form of business organisation
(a)
Name the type of partner.
(a)
Identify the type of cooperative societies
(a)
Identify the type of form of business organisation
(a)
At which stage of formation of a company this certificate is prepared.Name the stage
(a)
Name the feature of partnership.
(a)
The profit distributed among the shareholders is known as:
a) incentives
b) bonus
c) interest
d) Dividend
The directors take all decisions on behalf of the shareholders, keeping in mind their own benefit. Identify the demerit stated above.
a) Delay in decision making
b) numerous regulations
c) Lack of secrecy
d) oligarchic management
