This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 2 Forms Of Business Organisation – Quiz 25 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 25 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Advantages include limited liability for owners, unlimited life, and ease of transfer of ownership. A) Sole Propriotorship. B) Partnership. C) Corporation. D) None of the above. Show Answer Correct Answer: C) Corporation. 2. Registration of ..... compulsory. A) Partnership. B) Sole Proprietorship. C) Joint Stock Company. D) All of the above. Show Answer Correct Answer: C) Joint Stock Company. 3. Profits do not have to be shared. This statement refers to: A) Partnership. B) JHF. C) Sole Proprietorship. D) Company. Show Answer Correct Answer: C) Sole Proprietorship. 4. There is lack of business continuity in sole proprietorship business organisation. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 5. What is the primary difference between industry and commerce? A) Industry involves manufacturing, while commerce involves buying and selling of goods and services. B) Industry is a government sector, while commerce is a private sector. C) Industry is limited to physical products, while commerce deals with intangible services. D) Industry focuses on imports, while commerce focuses on exports. Show Answer Correct Answer: A) Industry involves manufacturing, while commerce involves buying and selling of goods and services. 6. Who holds Public Sector Undertakings (PSUs) accountable for their performance? A) Local authorities. B) Parliament. C) Private investors. D) International organizations. Show Answer Correct Answer: B) Parliament. 7. A partner who do not take part in the routine activities of business. A) Dormant. B) Secret. C) Partner by estoppel. D) Nominal partner. Show Answer Correct Answer: A) Dormant. 8. This type of organization is a legal entity separate from its owners. A) Sole proprietorship. B) Partnership. C) Corporation. D) Franchise. Show Answer Correct Answer: C) Corporation. 9. Minimum number of members-2 A) Sole Proprietorship. B) Public Company. C) Private Company. D) Cooperative Society. Show Answer Correct Answer: C) Private Company. 10. The simplest form of business from the point of view of establishment A) Sole Proprietorship. B) Partnership. C) JSC. D) JHFB. Show Answer Correct Answer: A) Sole Proprietorship. 11. Physicians, web designers, and furniture movers are examples of A) Intermediaries. B) Nonprofit corporations. C) Manufacturers or secondary sector. D) Services or Tertiary sector businesses. Show Answer Correct Answer: D) Services or Tertiary sector businesses. 12. Whichof thefollowing best describesthe term limited liability?If the business fails: A) Personalpossessionsoftheownercanbetakentopayanydebts. B) Theownerispersonallyliableforallthedebtsofthebusiness. C) Thereisnolimitontheamounttheownerhastopaytosettledebts. D) Theowner only loses the amountinvestedinthebusiness. Show Answer Correct Answer: D) Theowner only loses the amountinvestedinthebusiness. 13. What type of partnership exists at the will of the partners? A) Limited partnership. B) Particular partnership. C) General partnership. D) Partnership at will. Show Answer Correct Answer: D) Partnership at will. 14. Membership in Joint Hindu Family Business occurs by which of the following modes? A) Agreement. B) Marriage. C) Birth. D) None of these. Show Answer Correct Answer: C) Birth. 15. Which of the following is an advantage of operating as a sole trader? A) Limited Liability protection. B) Shared decision-making with partners. C) Ease of formation and low startup costs. D) Access to diverse skills and expertise. Show Answer Correct Answer: C) Ease of formation and low startup costs. 16. The profit is not shared with any in case of ..... A) Partnership. B) COPS. C) Joint Stock Company. D) Sole Proprietorship. Show Answer Correct Answer: D) Sole Proprietorship. 17. Which certificate is called the birth certificate of the company? A) Certificate of Registration. B) Certificate of Incorporation. C) All the above. D) None of the above. Show Answer Correct Answer: B) Certificate of Incorporation. 18. Traffic Signal is ..... Language. A) Audio. B) Video. C) Sign. D) None. Show Answer Correct Answer: C) Sign. 19. HUF is governed by A) Hindu law of succession. B) Muslim law of succession. C) All the above. D) None of the above. Show Answer Correct Answer: A) Hindu law of succession. 20. Which of the following is a limitation of a cooperative society A) A co-operative society is managed in a democratic way. B) Members have limited liability. C) Co-operative societies can't extend beyond a certain limit, they are likely to fail if they try to expand like big joint stock companies. D) Co-operative societies have open membership. Show Answer Correct Answer: C) Co-operative societies can't extend beyond a certain limit, they are likely to fail if they try to expand like big joint stock companies. 21. Separate Legal Entity A) Sole Proprietorship. B) Partnership. C) Joint Hindu Family Business. D) Cooperative Society. Show Answer Correct Answer: D) Cooperative Society. 22. What is an organisation which has removed the internal barriers which separate hierarchy levels andfunctions and also between the organisation and its suppliers, customers and competitors known as? A) Modular organisation. B) Hollow organisation. C) Jobless structure. D) Boundaryless organisation. Show Answer Correct Answer: D) Boundaryless organisation. 23. Nike, Fashion Valet, and Google are examples of A) Partnership. B) Sole proprietorship. C) Company. D) Self business. Show Answer Correct Answer: C) Company. 24. OPC stands for: A) One Person Company. B) One Partner Company. C) One Part Company. D) One Person Cooperation. Show Answer Correct Answer: A) One Person Company. 25. Identify the type of cooperative society which aims in procuring inputs for conversion to output. A) Consumers Cooperative Society. B) Marketing Cooperative Society. C) Operations Cooperative Society. D) Producers Cooperative Society. Show Answer Correct Answer: D) Producers Cooperative Society. ← 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