This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 2 Forms Of Business Organisation – Quiz 16 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 16 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The public sector is owned and controlled by the Government? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 2. Tell the name of the cooperative society established by the producers of the industrial area located in the proximity of Dwarkapuri. A) Cooperative Credit Society. B) Marketing Cooperative Society. C) Producers' Cooperative Society. D) Consumers' Cooperative Society. Show Answer Correct Answer: C) Producers' Cooperative Society. 3. Which of the following is a drawback of sole trader businesses in terms of growth potential? A) Full control over business operations and decision-making. B) Ability to easily adapt to market changes and customer preferences. C) Limited access to external financing and investment opportunities. D) Flexibility in managing work-life balance and personal commitments. Show Answer Correct Answer: C) Limited access to external financing and investment opportunities. 4. Name the document which is not required by public company, if they are following Table F of Company Act A) Article of Association. B) Memorandum of Association. C) Name approval Letter. D) Consent of Proposed directors. Show Answer Correct Answer: A) Article of Association. 5. A ..... is a business based upon the use of the brand names, promotional logos and trading methods of an existing successful business. A) Sole Trade. B) Partnership. C) Franchise. D) Joint venture. Show Answer Correct Answer: C) Franchise. 6. Which of the following is a merit of a Partnership? A) Limited capital. B) More capital. C) Unlimited liability. D) Complex formation. Show Answer Correct Answer: B) More capital. 7. Which of the following statements are true?(i) With a shared service centre services are likely to be less tailored(ii) The IT function is commonly provided using shared service approach(iii) A shared service centre is not part of the organisation A) Statement (i) and (iii) only. B) Statements (i) and (ii) only. C) Statements (ii) and (iii) only. D) None of the above. Show Answer Correct Answer: B) Statements (i) and (ii) only. 8. Forms of business organisations A) Hindu undivided family. B) Partnership firm. C) Sole proprietor. D) None of the above. E) A, B, C. Show Answer Correct Answer: E) A, B, C. 9. Nike, IBM, and Google are examples of what type of business? A) Partnership. B) Corporation. C) Sole Proprietorship. D) None of the Choices. Show Answer Correct Answer: B) Corporation. 10. In a Sole Proprietorship, who has the control? A) The employees. B) The government. C) The owner. D) The customers. Show Answer Correct Answer: C) The owner. 11. Which is NOT a Merit of Partnership A) Ease of formation anf closure. B) Sharing of risks. C) Decision making through mutual consent anf joint effort. D) Possibility of conflicts between partners. Show Answer Correct Answer: D) Possibility of conflicts between partners. 12. Which one can attract investment from "sleeping partners" ? A) Sole trader. B) Partnership. C) All the above. D) None of the above. Show Answer Correct Answer: B) Partnership. 13. Which is TRUE in respect of number of members in partnership A) Minimum 7, Maximum 50. B) Minimum 2, Maximum 50. C) Minimum 7, Maximum 200. D) Minimum 2, Maximum 200. Show Answer Correct Answer: B) Minimum 2, Maximum 50. 14. A partnership in which all partners assume full personal liability for debts of the firm A) Limited partnership. B) Trading partnership. C) Non-trading partnership. D) General partnership. Show Answer Correct Answer: D) General partnership. 15. Which of the following is a key component of the marketing and sales strategy? A) Break even analysis. B) Pricing strategy. C) Income statements. D) Product life cycle. Show Answer Correct Answer: B) Pricing strategy. 16. A ..... provides for the greatest degree of continuity: A) General partnership. B) Joint venture. C) Corporation. D) Sole proprietorship. Show Answer Correct Answer: C) Corporation. 17. What is the primary purpose of a partnership deed? A) To limit liability. B) To increase capital. C) To register the firm. D) To outline the roles of partners. Show Answer Correct Answer: D) To outline the roles of partners. 18. In case of ..... Registration is compulsory A) None of these. B) Sole Proprietorship. C) Partnership. D) Company. Show Answer Correct Answer: D) Company. 19. Whichofthefollowingisanadvantageof operatingalargeestablishedbusinessasacorporation? A) Sharescan be sold to the public to raise additionalfinance. B) Financialaccountsare published. C) Sharescan only be sold to invitedinvestorstoraise finance. D) Owners have unlimited liability. Show Answer Correct Answer: A) Sharescan be sold to the public to raise additionalfinance. 20. In which form of business organisation, the focus is on elimination of middlemen, this helps in reducing costs. A) Partnership. B) Joint Hindu Family Business. C) Sole Proprietorship. D) Cooperative Society. Show Answer Correct Answer: D) Cooperative Society. 21. The owners of a corporation are called A) Directors. B) Shareholders. C) Partners. D) Founders. Show Answer Correct Answer: B) Shareholders. 22. ..... are voluntary business organisations that are owned, controlled and operated by their members. A) Partnerships. B) Cooperatives. C) Franchises. D) None of the above. Show Answer Correct Answer: B) Cooperatives. 23. Identify the type of cooperative society which seek financial help to its members. A) Bankers Cooperative Society. B) Financial Cooperative Society. C) Credit Cooperative Society. D) Financing Cooperative Society. Show Answer Correct Answer: C) Credit Cooperative Society. 24. ..... society's aim is to gain the benefits of large scale farming and increase the productivity. A) Consumer's cooperative. B) Producer's cooperative. C) Marketing cooperative. D) Farmer's cooperative. Show Answer Correct Answer: D) Farmer's cooperative. 25. Which of the following statements are true? I. A Patent is an illegal right.II. A patent holder can take legal action if anyone violates the patent. A) I is true; II is false. B) Both I and II are true. C) Neither I nor II is true. D) II is true; I is false. Show Answer Correct Answer: D) II is true; I is false. ← 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