This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 2 Forms Of Business Organisation – Quiz 13 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 13 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Name the form of business organisation which gets support from the Government. A) Joint Stock Company. B) Cooperative Society. C) Public Private Partnership. D) Public Company. Show Answer Correct Answer: B) Cooperative Society. 2. Find out the liability of Anita in a company, who is a shareholder, holding 3, 000 shares of 10 each. She has already paid 6 per share. A) 10, 000. B) 1, 20, 000. C) 18, 000. D) 12, 000. Show Answer Correct Answer: D) 12, 000. 3. Anyone can buy shares of a private limited company. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 4. Which company is NOT a public company among the following? A) Bajaj Holdings. B) Hindustan Unilever Ltd. C) Reliance Industries Limited. D) Infosys Technologies. Show Answer Correct Answer: D) Infosys Technologies. 5. These are run by individuals. A) Public sector companies. B) Private sector companies. C) All the above. D) None of the above. Show Answer Correct Answer: B) Private sector companies. 6. Transfer of ownership is easy in the case of ..... whereas it is difficult in the case of: A) Joint-stock company, partnership. B) Sole proprietorship, joint stock company. C) Sole proprietorship, partnership. D) Partnership, joint stock company. Show Answer Correct Answer: A) Joint-stock company, partnership. 7. Everyone knows that he/she is a partner in the business A) Active partner. B) Sleeping partner. C) Secret partner. D) None of the above. Show Answer Correct Answer: A) Active partner. 8. Which of the following statements best applies to a public limited company (plc)? A) It is owned by the government and is in the public sector. B) It is owned by shareholders who can sell their shares in the Stock Exchange. C) It is quick and easy to set up with few legal formalities. D) Its accounts can be kept private and it receives little coverage in the business press. Show Answer Correct Answer: B) It is owned by shareholders who can sell their shares in the Stock Exchange. 9. A company is a creation of law and exists independent of its members. A) Formation. B) Separate legal entity. C) Perpetual succession. D) Artificial person. Show Answer Correct Answer: B) Separate legal entity. 10. Number of partners in a partnership business are ..... A) Unlimited. B) 200 maximum. C) 2 to infinite. D) 2 to 20 partners. Show Answer Correct Answer: D) 2 to 20 partners. 11. Which act governs partnership firms in India? A) Companies Act, 2013. B) Sole Proprietorship Act, 1950. C) Indian Partnership Act, 1932. D) Cooperative Societies Act, 1965. Show Answer Correct Answer: C) Indian Partnership Act, 1932. 12. Abbreviation for Private Limited Companies is A) PLC LTD. B) PVT LTD. C) PVT. D) PLC. Show Answer Correct Answer: B) PVT LTD. 13. What is the main advantage of a sole proprietorship? A) No need to pay taxes. B) Limited liability for the owner. C) Full control over the business and receives all the profits. D) Shared control with other partners. Show Answer Correct Answer: C) Full control over the business and receives all the profits. 14. Profits do not have to be shared.This statement refers to ..... A) Partnership. B) HUF. C) Sole proprietorship. D) Conpany. Show Answer Correct Answer: C) Sole proprietorship. 15. A form of business organization that is authorized to act as a legal entity regardless of the number of owners. A) Company. B) Partnership. C) Sole proprietorship. D) Distributor. Show Answer Correct Answer: A) Company. 16. One of the limitations for an entrepreneur of setting up a new business as a franchise is: A) The profits of the franchised business will be lower than if it was not a franchise. B) A share of the costs will have to be paid to the franchisor. C) Some decisions will be taken by the franchisor not the franchisee. D) Consumers will be less likely to have heard of the franchisor than the entrepreneur. Show Answer Correct Answer: C) Some decisions will be taken by the franchisor not the franchisee. 17. What is the primary characteristic of the private sector? A) Operated by cooperatives. B) Operated by non-profit organizations. C) Operated by individuals. D) Operated by the government. Show Answer Correct Answer: C) Operated by individuals. 18. Odd one out:Active Partner, Shareholder, Nominal partner, Secret partner. A) Active Partner. B) Shareholder. C) Nominal Partner. D) Secret Partner. Show Answer Correct Answer: B) Shareholder. 19. Assertion (A):A company can enter into contracts and file suits against others.Reason(R):A company has perpetual succession. A) Both A and R are true and R is the correct explanation of A. B) Both A and R are true but R is not the correct explanation of A. C) A is true but R is false. D) A is false but R is true. Show Answer Correct Answer: B) Both A and R are true but R is not the correct explanation of A. 20. There are ..... basic forms of business organisations. A) 8. B) 4. C) 5. D) 3. Show Answer Correct Answer: C) 5. 21. Stages in the formation of a public company are in the following order:- A) Promotion, commencement. B) Incorporation, capital subscription, commencement of business, promotion. C) Promotion, incorporation, capital subscription, commencement of business. D) Capital subscription, promotion, incorporation, commencement of business. Show Answer Correct Answer: C) Promotion, incorporation, capital subscription, commencement of business. 22. Name the document that is called Charter of Company. A) Memorandum of Association. B) Consent of Proposed directors. C) Article of Association. D) Name approval Letter. Show Answer Correct Answer: A) Memorandum of Association. 23. This type of business is subject to many more laws and are more difficult to form. A) Proprietorship. B) Partnership. C) Joint Stock Company. D) None of the above. Show Answer Correct Answer: C) Joint Stock Company. 24. Which of the following statements are true? i. Total fixed costs do not vary with the changes in the volume of production up to a given range. ii. Fixed cost per unit do not vary with the changes in the volume of production A) I only. B) II only. C) Both are True. D) Both are false. Show Answer Correct Answer: A) I only. 25. What is multinational corporations? A) A company that is primarily based in more than one country. B) A company that is primarily based in one country. C) A company that is primarily based in some countries. D) None of the above. Show Answer Correct Answer: B) A company that is primarily based in one country. ← 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