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Worksheets11th-OC-Forms of Organization
Total questions: 21
Worksheet time: 11mins
Sole proprietorship business can be started by
at least seven persons
any one person
at least two persons
at least three persons
A sole proprietor has a limit in which of the following ability
Managerial
Owner
Worker
None of these
Sole Proprietorship is most suitable for
Medium scale concerns
Large Scale concerns
Small scale concerns
None of the above
The reason for the end of the sole proprietorship can be
Insolvency
Insanity
Death
All of the above
The members of a Co-operative Society have
Unlimited liability
Limited liability
Joint and Several liability
Joint liability
The principle followed in a co-operative society is
No vote
One man, one vote
Multiple votes
One share one vote
A company is formed by
Government
Directors
Promoters
Owners
The word limited should appear after the name of
Partnership
Registered company
Statutory company
None of these
The minimum members in public limited company are:
4
2
8
7
How many members have to sign a memorandum of association in case of a private company?
5
7
2
10
The official signature of a company is called:
Prospectus
Debentures
Shares
Common Seal
The company is managed by the group of persons known as:
Board of directors
Group of member
Team of shareholders
None of the above
The two forms of business ownership with unlimited liability are:
Sole trader
Public company
Partnership
Private company
Advantages of a sole trader are:
Limited liability
The owner makes all the decisions
The owner takes all the profit
Can raise substantial capital
Advantages of a partnership are:
The partners split the profit
Unlimited liability
Raise more capital than a sole trader
Share the workload
Which of the following best describes the term limited liability? If the business fails:
Personal possessions of the owner can be taken to pay any debts
The owner is personally liable for all the debts of the business
There is no limit on the amount the owner has to pay to settle debts
The owner only loses the amount invested in the business
The main disadvantage of a __________ is that each person is fully responsible for the acts of all other persons.
Proprietorship
Partnership
Corporation
Franchise
Liability of Karta in JHFB is
Limited
Less
Unlimited
The main motive of Co-operative Society is
to earn profit
to render service
to provide gifts
A Partner who is unknown to the third party
Active Partner
Nominal Partner
Secret Partner
