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WorksheetsClass-11-Commerce-Sole trader1
Total questions: 10
Worksheet time: 5mins
Which is the oldest form of Business organisation?
Sole proprietorship
Partnership
Co-operative society
Company
In which form the owner, establisher and manager is only one?
Joint enterprise
Government company
Co-OPerative society
Sole proprietor
A major disadvantage of sole proprietorship is
limited liability
Unlimited liability
Easy formation
Qiuck decision
A major disadvantage of sole proprietorship is
Limited liability
Unlimited liability
Easy Formation
Quick decision
From the following which one is Non – corporate form of business?
Joint stock company
Sole trading business
Government company
Co-operatives
When his business assets are not sufficient to pay off the business debts he has to pay from his personal property.
Limited liability
Unlimited liability
Asset
Liabilty
…………….. is known as individual entrepreneurship.
Partnership
Sole trader
Joint stock company
Co-operative
He receives all the profits and risks all of his property in the success or failure of the enterprise”- was said by
Wheeler
J.L.Hansen
H.Haney
O.R.Krishnasamy
The sole trader contributes the required ---------------------------
Insurance
Capital
Liability
Asset
--------- are to be observed in its formation, management or in its closure.
No legal formalities
Compulsory registration
Companies act2003
sole trader act
