NEW
Font size
WorksheetsTypes of Borrowers Quiz
Total questions: 11
Worksheet time: 6mins
What is a business owned by an individual under a trade name or his own name in case of Professionals?
Proprietorship
Partnership firm
Limited Liability Partnership
OPC
What is the liability of a Partnership firm?
Unlimited
Limited
Perpetual
None
What is the key person in a Limited Liability Partnership?
Proprietor
Partners
Designated Partners
Shareholders
What is the maximum number of partners in a Limited Liability Partnership?
50
Unlimited
200
None
What is the definition of a Private Limited Company?
A company that has only ONE PERSON as its member/share holder
A legal entity where a GROUP of people come together to form a company
A company with unlimited liability
None of the above
What is the minimum number of shareholders required for a Public Limited Company?
1
2
7
None
What is the liability of a Trust?
Limited
Unlimited
Perpetual
None
What is the key person in a Society/Club/Association?
Karta
Author/Trustees
Chairman/President
None
What is the definition of HUF?
A joint family consisting of descendants of a Common ancestor
A legal entity where a GROUP of people come together
A company with limited liability
None
What is the liability of a HUF?
Limited
Unlimited
Perpetual
None
What is the key document for a Private Limited Company?
Memorandum Of Association
Partnership Deed
Trust Deed
Bye Laws
