This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 2 Forms Of Business Organisation – Quiz 12 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 12 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. When two companies work together to create or run a new company. A) A joint venture. B) A franchise. C) A partnership. D) None of the above. Show Answer Correct Answer: A) A joint venture. 2. Registration of LLP will be done by ..... A) Registrar of Companies. B) Registrar og Industries. C) Registrar of Firm. D) Registrar of Co-operative Societies. Show Answer Correct Answer: A) Registrar of Companies. 3. The life of sole proprietorship business is ..... A) Unstable. B) Stable. C) Very short life. D) Long life. Show Answer Correct Answer: A) Unstable. 4. The persons who have an equal ownership right over the property of the ancestors are known as A) Karta. B) Coparceners. C) Members. D) Shareholders. Show Answer Correct Answer: B) Coparceners. 5. What is a key limitation of a sole proprietorship? A) Full control. B) Limited capital. C) Unlimited liability. D) Easy to start. Show Answer Correct Answer: C) Unlimited liability. 6. The Head of the joint Hindu family business is called A) Manager. B) Proprietor. C) Karta. D) Director. Show Answer Correct Answer: C) Karta. 7. Name the types of company which require to maintain the index of its members. A) One person company. B) Joint stock company. C) Public Company. D) Private Company. Show Answer Correct Answer: C) Public Company. 8. SIDBI stands for A) Small Investment Development Bank of India. B) Small Industries Development Bureau of India. C) State Industries Development Bank of India. D) Small Industries Development Bank of India. Show Answer Correct Answer: D) Small Industries Development Bank of India. 9. Unincorporated business means A) Dose not have a separate legal identity from the owner. B) Not allowed to share profits. C) Having Limited Liability. D) None of the above. Show Answer Correct Answer: A) Dose not have a separate legal identity from the owner. 10. What are the disadvantages of a partnership? A) Unlimited liability, lack of control, difficulty in decision-making. B) Shared liability, potential conflicts, limited growth potential. C) All the above. D) None of the above. Show Answer Correct Answer: B) Shared liability, potential conflicts, limited growth potential. 11. The capital of a company is divided into numbers of parts.Each part is called A) Interest. B) Share. C) Profit. D) None of the above. Show Answer Correct Answer: B) Share. 12. Which of the following is a feature of Sole Proprietorship? A) Separate legal entity. B) Limited capital. C) Partnership agreement. D) Unlimited liability. Show Answer Correct Answer: D) Unlimited liability. 13. Name the type of company that allow its members to transfer its shares A) One person company. B) Private Company. C) Public Company. D) None of the above. Show Answer Correct Answer: C) Public Company. 14. What is the minimum number of members required for a joint hindu family business? A) One. B) Two. C) Three. D) Five. Show Answer Correct Answer: B) Two. 15. A prospectus is issued by: A) A private company. B) A public company seekling investments by public. C) A public enterprise. D) A public company seeking investments by friends or family. Show Answer Correct Answer: B) A public company seekling investments by public. 16. Which option is not a business activity? A) Production of goods. B) Transportation. C) Exchange of goods. D) Work in a factor for wages. Show Answer Correct Answer: A) Production of goods. 17. What is a limitation of a Cooperative Society? A) Service motive. B) Voluntary membership. C) Limited capital. D) Democratic control. Show Answer Correct Answer: C) Limited capital. 18. Which one is CORRECT in repect of consequence of Non Registration of Firms A) Unregistered firm cannot file a suit against third parties. B) Unregistered firm cannot file a suit against the partners. C) Partners in an unregistered firm cannot file a suit against the firm. D) All of them are correct. Show Answer Correct Answer: D) All of them are correct. 19. What are the advantages of a partnership? A) Shared decision-making, shared workload, shared resources, and shared risks and liabilities. B) Reduced conflicts, increased innovation, and improved customer service. C) Higher profits, increased market reach, and improved decision-making. D) Limited liability, reduced financial burden, and increased flexibility. Show Answer Correct Answer: A) Shared decision-making, shared workload, shared resources, and shared risks and liabilities. 20. Who among the following can only be beneficiary of business and does not has unlimited liability? A) Secret Partner. B) Minor Partner. C) Active Partner. D) Sleeping Partner. Show Answer Correct Answer: B) Minor Partner. 21. Which of the following is a factor influencing the choice of business organisation? A) Type of customers. B) Cost and ease of formation. C) Location of business. D) Personal preferences. Show Answer Correct Answer: B) Cost and ease of formation. 22. The collective forum of all shareholders are called ..... A) Board of Directors. B) General Body. C) Association. D) None of the above. Show Answer Correct Answer: B) General Body. 23. In a cooperative society the principle followed is ..... A) One share one vote. B) One man one vote. C) No vote. D) Multiple votes. Show Answer Correct Answer: B) One man one vote. 24. Which of the following businesses is likely to have the most amount of capital A) Partnership. B) Public limited Company. C) Sole trader. D) None of the above. Show Answer Correct Answer: B) Public limited Company. 25. Why do you need a business plan? A) To explain your idea. B) The ability to get financing. C) It's a road map that sets objectives and goals for the business. D) To help reduce the risk of business failure. E) All of the above. Show Answer Correct Answer: E) All of the above. ← PreviousNext →Related QuizzesClass 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 1Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 2Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 3Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 4Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 5Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 6Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 7Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 8Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 9Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books