MCQ Business Studies for class 11 Unit 2 Forms of Business Organizations

MCQ Commerce HS 1st year Business Studies Unit 2 :Forms of Business Organizations

Quiz

 

1. The structure in which there is separation of ownership and management is called?
   1.   Sole proprietorship
   2.   Partnership
   3.   Company
   4.   All business organizations
2. The Karta in Joint Hindu family business has:
   1.   Limited liability
   2.   Unlimited liability
   3.   No liability for debts
   4.   Joint liability
3. In a cooperative society the principle followed is:
   1.   One share one vote
   2.   One man one vote
   3.   No vote
   4.   Multiple votes
4. The board of directors of a joint stock company is elected by:
   1.   General public
   2.   Government bodies
   3.   Shareholders
   4.   Employees
5. The maximum number of partners allowed in the banking business are:
   1.   Twenty
   2.   Ten
   3.   No limit
   4.   Two
6. Profits do not have to be shared. This statement refers to:
   1.   Partnership
   2.   Joint Hindu family business
   3.   Sole proprietorship
   4.   Company
7. The capital of a company is divided into number of parts each one of which are called:
   1.   Dividend
   2.   Profit
   3.   Interest
   4.   Share
8. The Head of the Joint Hindu family Business is called:
   1.   Proprietor
   2.   Director
   3.   Karta
   4.   Manager
9. Provision of residential accommodation to the members at reasonable rates is the objective of:
   1.   Producer’s cooperative
   2.   Consumer’s objective
   3.   Housing cooperative
   4.   Credit cooperative
10. A partner whose association with the firm is unknown to the general public is called:
    1.   Active partner
    2.   Sleeping partner
    3.   Nominal partner
    4.   Secret partner
11. Name the form of business organization found only in India:
    1.   Sole Proprietorship
    2.   Partnership
    3.   Joint Hindu Family
    4.   Cooperatives
12. Choose the type of business in which sole proprietorship is very suitable:
    1.   CA Firm
    2.   Beauty Parlour
    3.   A shopping mall
    4.   All of these
13. Name the person who manages a Joint Hindu Family Business:
    1.   Manager
    2.   Minor
    3.   Members
    4.   Karta
14. Name the law which governs Joint Hindu Family Business:
    1.   Partnership Act
    2.   Hindu Law
    3.   Companies Act, 1956
    4.   Contract Act
15. Which document is called charter of a company?
    1.   Memorandum of Association
    2.   Articles of Association
    3.   Prospectus
    4.   All of the above
16. What is the minimum number of persons required to form a co-operative society?
    1.   2
    2.   7
    3.   10
    4.   20
17. Which of the following has unlimited liability in business?
    1.   Sole Proprietor
    2.   Karta
    3.   Partners
    4.   All of the above
18. Name the type of company which must have a minimum paid up capital of 5 lacks,
    1.   Public Company
    2.   Private Company
    3.   Government Company
    4.   All of the above
19. Which of the following has a separate legal entity?
    1.   Joint Stock Company
    2.   Co-operative Society
    3.   Both of the above
    4.   None of the above
20. Minor can be full-fledged member of:
    1.   Co-operative Society
    2.   Joint Stock Company
    3.   Joint Hindu Family
    4.   Partnership