WorksheetsTypes of business Organisation
Total questions: 7
Worksheet time: 6mins
Members of Joint Hindu Family are known as:
Partners
Coparceners
Karta
Members
Which of the following is not an advantage of Partnership
Easy to form
Balanced decisions
Unlimited liability
Sharing of losses
LLP act was framed in the year (a) .
Oldest member of the Joint Hindu Undivided family is known as (a)
(a) is the business organisation in which a single person owns, manages and controls all the activities of the business.
Maximum number of partners in case of banking business is (a)
Hema running a business in sole-proprietorship. Due to loss in business she decided to wind up her business. On the day of winding up the assets are worth Rs. 5 lakhs and liabilities (all creditors) are worth Rs. 10 lakhs. Hema has her personal property of Rs. 600000. How much do you think the creditors will get at the time of winding up of business?
Rs. 5 lakhs
Rs. 7 lakhs
Rs. 10 lakhs
