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Class-11-Commerce-Sole trader1

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

Which is the oldest form of Business organisation?

a)

Sole proprietorship

b)

Partnership

c)

Co-operative society

d)

Company

2.

In which form the owner, establisher and manager is only one?

a)

Joint enterprise

b)

Government company

c)

Co-OPerative society

d)

Sole proprietor

3.

A major disadvantage of sole proprietorship is

a)

limited liability

b)

Unlimited liability

c)

Easy formation

d)

Qiuck decision

4.

A major disadvantage of sole proprietorship is

a)

Limited liability

b)

Unlimited liability

c)

Easy Formation

d)

Quick decision

5.

From the following which one is Non – corporate form of business?

a)

Joint stock company

b)

Sole trading business

c)

Government company

d)

Co-operatives

6.

When his business assets are not sufficient to pay off the business debts he has to pay from his personal property.

a)

Limited liability

b)

Unlimited liability

c)

Asset

d)

Liabilty

7.

…………….. is known as individual entrepreneurship.

a)

Partnership

b)

Sole trader

c)

Joint stock company

d)

Co-operative

8.

He receives all the profits and risks all of his property in the success or failure of the enterprise”- was said by

a)

Wheeler

b)

J.L.Hansen

c)

H.Haney

d)

O.R.Krishnasamy

9.

The sole trader contributes the required ---------------------------

a)

Insurance

b)

Capital

c)

Liability

d)

Asset

10.

--------- are to be observed in its formation, management or in its closure.

a)

No legal formalities

b)

Compulsory registration

c)

Companies act2003

d)

sole trader act