WorksheetsChoice of forms of Business Organization
Total questions: 11
Worksheet time: 5mins
True or False:
The ownership and management is in two different hand in case of Joint stock company.
True
False
Liability of Karta is Limited
True
False
____ is characteristic of cooperative society
One man one vote
One vote per share
Profit is subject to income tax
All of the above
The members of Hindu undivided family business are called .
Karta
coparcener
parcener
Partner
A nominal partner is one who allows the use his/her name by a firm, but does not contribute capital.
True
False
3) Name the basic document prepared for partnership firm.
Partnership contract
Partnership deed
Prospectus
Notary
In a general partnership liability of partners is (a)
Name the cooperative society that provides loan to its members at easy terms and reasonable interest
Marketing Cooperative societies
Consumers Cooperative Societies
Credit Cooperative societies
Credit Cooperative societies
The capital of a company is divided into number of parts each one of which is called
Dividend
Profit
Interest
Share
A business with one owner is known as a:
Company
Sole trader
Partnership
Advantages of a sole trader are:
Limited liability
The owner makes all the decisions
The owner takes all the profit
Can raise substantial capital
