This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 2 Forms Of Business Organisation – Quiz 15 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 15 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. ..... acts as a signature of the company A) Common seal. B) Common sign. C) Common image. D) Artificial Signature. Show Answer Correct Answer: A) Common seal. 2. Limited Liability A) Limited Partnership. B) Joint Hindu Family Business. C) Sole Proprietorship. D) Cooperative Society. Show Answer Correct Answer: D) Cooperative Society. 3. A partner whose association with the firm is known to the general public A) Active partner. B) Sleeping partner. C) Nominal partner. D) Secret partner. Show Answer Correct Answer: D) Secret partner. 4. Providing seed capital for companies in transforming innovative business ideas A) Leasing. B) Venture Capital. C) Hire Purchase. D) None of these. Show Answer Correct Answer: B) Venture Capital. 5. A person is considered a partner ..... if, through his/her own initiative, conduct or behaviour, he/she gives an impression to others that he/she is a partner of the firm. A) Partner by holding out. B) Sleeping or dormant partner. C) Secret partner. D) Partner by estoppel. Show Answer Correct Answer: D) Partner by estoppel. 6. One of the characteristics of a business organization is limited liability for its owners. A) A. True. B) B. False. C) All the above. D) None of the above. Show Answer Correct Answer: A) A. True. 7. Business owned by shareholders is A) Partnership. B) Sole proprietorship. C) Corporation. D) Franchise. Show Answer Correct Answer: C) Corporation. 8. Abhishek and Nidhi want to start a shop to sell Rajasthani sweets. They did not know how to develop the agreement for this purpose. So, they approached a chartered accountant who advised them to prepare a document which may stipulate the terms and conditions of the agreement. On the basis of given information, name the document about which the chartered accountant advised Abhishek and Nidhi. A) MoA. B) AoA. C) Partnership deed. D) Prospectus. Show Answer Correct Answer: C) Partnership deed. 9. The liability of a partner by estoppel is limited A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 10. Profits donot have to be shared. This statement refers to A) Partnership business. B) Organisations. C) Sole Proprietorship business. D) All of the above. Show Answer Correct Answer: C) Sole Proprietorship business. 11. Name the cooperative society formed by the producers of Nand Nagri in order to solve their problem. A) Cooperative Credit Society. B) Marketing Cooperative Society. C) Producers' Cooperative Society. D) Consumers' Cooperative Society. Show Answer Correct Answer: B) Marketing Cooperative Society. 12. "Liability of members in company forms of organisation is ..... ". A) Unlimited liability. B) Limited liability. C) All the above. D) None of the above. Show Answer Correct Answer: B) Limited liability. 13. A disruptive innovation is a potent combination of: A) High technology and Low cost. B) Creative business model and High technology. C) Creative business model and low cost. D) High technology, Low cost and Creative business model. Show Answer Correct Answer: D) High technology, Low cost and Creative business model. 14. Sara's Hair Palace is a small, locally owned beauty salon in Sterling. This represents what type of business? A) Corporation. B) Partnership. C) Sole proprietorship. D) None of the above. Show Answer Correct Answer: C) Sole proprietorship. 15. The main reason why an entrepreneur will convert an LTD into a PLC is A) They don't want to remain in the private sector. B) They want to gain the benefits of limited liability. C) They want to keep the annual accounts secret. D) They want to raise additional capital to expand the business. Show Answer Correct Answer: D) They want to raise additional capital to expand the business. 16. Disadvantages of this business type include:needs a partnership agreement, partners might not get along, owners share profits, unlimited liability. A) Sole Proprietorship. B) Partnership. C) Corporation. D) Franchise. Show Answer Correct Answer: B) Partnership. 17. Partnership requires at least three people A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 18. ..... is responsible for organizing conferences and trade events. A) Finance. B) Marketing. C) All the above. D) None of the above. Show Answer Correct Answer: B) Marketing. 19. The most important document used in partnership business is ..... A) PARTNERSHIP DEED. B) NONE OF THE ABOVE. C) MEMORANDUM OF ASSOCIATION. D) None of the above. Show Answer Correct Answer: A) PARTNERSHIP DEED. 20. What is a merit of a Joint Stock Company? A) Single ownership. B) No legal entity. C) Unlimited liability. D) Limited liability. Show Answer Correct Answer: D) Limited liability. 21. Private Limited Companies are owned by A) Sole Traders. B) Partners. C) Shareholders. D) The Government. Show Answer Correct Answer: C) Shareholders. 22. The reward for the efforts of a sole trader is called wage. A) A) True. B) B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) B) False. 23. Example for tertiary sector is A) Education. B) Fishing. C) IT. D) Tourism. Show Answer Correct Answer: D) Tourism. 24. In the event of death of the existing Karta in HUF the next karta is A) Elder male member. B) Eldest coparcener next to existing Karta. C) Female member. D) None of the above. Show Answer Correct Answer: B) Eldest coparcener next to existing Karta. 25. A private company can start its operation after completing A) Promotion Stage. B) Registration Stage. C) Capital Subscription Stage. D) Any time on the will of company. Show Answer Correct Answer: B) Registration Stage. ← 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