This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 2 Forms Of Business Organisation – Quiz 26 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 26 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The members of Hindu undivided family business are called . A) Karta. B) Coparcener. C) Parcener. D) Partner. Show Answer Correct Answer: B) Coparcener. 2. A sole proprietorship is easier and less costly than starting any other form of business. A) Ture. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) Ture. 3. The death, lunacy or insolvency of any member of the family does not affect the existence of a Joint Hindu Family Business. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 4. Identify the cooperative society established by the people of Dwarkapuri. A) Cooperative Credit Society. B) Marketing Cooperative Society. C) Producers' Cooperative Society. D) Consumers' Cooperative Society. Show Answer Correct Answer: D) Consumers' Cooperative Society. 5. What is a key characteristic of a partnership agreement? A) It states the business is owned by one person. B) It requires no legal documentation. C) It outlines how profits and responsibilities are shared. D) It allows for unlimited partners. Show Answer Correct Answer: C) It outlines how profits and responsibilities are shared. 6. Ownership of the asset is transferred to the hire purchaser on A) At the start of the hire purchase agreement. B) After the first payment is made. C) When the asset is fully paid off. D) The end of the hire purchase agreement. Show Answer Correct Answer: D) The end of the hire purchase agreement. 7. The decision making process is slow for all the following forms of business organisations EXCEPT: A) Companies. B) Partnerships. C) Co-operatives. D) Sole trader. Show Answer Correct Answer: D) Sole trader. 8. Whichof thefollowing is adrawbackfor anentrepreneursetting up a business as asole proprietorship? A) Profit is shared. B) Financialaccountsarekeptprivate. C) Limited liability. D) Unlimitedliability. Show Answer Correct Answer: D) Unlimitedliability. 9. It is optional for a partnership firm to get registered. A) True. B) False. C) Can't say. D) Partially true. Show Answer Correct Answer: A) True. 10. Which of the following is owned by a single person? A) Private Company. B) Public Company. C) Joint Hindu family. D) Sole Proprietorship. Show Answer Correct Answer: D) Sole Proprietorship. 11. It is not compulsory for Private Ltd. company to A) Maintain index of members. B) Issue prospectus. C) Conduct statutory meeting. D) All of the above. Show Answer Correct Answer: D) All of the above. 12. The directors take all decisions on behalf of the shareholders, keeping in mind their own benefit. Identify the demerit stated above. A) Delay in decision making. B) Numerous regulations. C) Lack of secrecy. D) Oligarchic management. Show Answer Correct Answer: D) Oligarchic management. 13. A proposed name of a company is considered undesirable if: A) It is identical with the name of an existing company. B) It resembles closely with the name of an existing company. C) It is an emblem of government of India, United Nations etc. D) In case of any of the above. Show Answer Correct Answer: D) In case of any of the above. 14. In a Joint Hindu Family Business, who is known as the Karta? A) The youngest member. B) The eldest member. C) The legal advisor. D) The financial manager. Show Answer Correct Answer: B) The eldest member. 15. What is a modern business characteristic that emphasizes the use of advanced technology? A) Traditional approach. B) Small-scale operations. C) Innovation and technology adoption. D) Manual labor-intensive. Show Answer Correct Answer: C) Innovation and technology adoption. 16. Which of the following is NOT a business organization? A) Sole Proprietorship. B) Corporation. C) Perfect Competition. D) Partnership. Show Answer Correct Answer: C) Perfect Competition. 17. What control do private enterprises have over wages and service costs? A) No control. B) Partial control. C) Complete control. D) Government control. Show Answer Correct Answer: C) Complete control. 18. Sole Proprietorship is most suitable for ..... A) Small scale concerns. B) Medium scale concerns. C) Large scale concerns. D) None of the above. Show Answer Correct Answer: A) Small scale concerns. 19. Which one is an example of consumer co-operative societies A) Thriveni Super Market. B) College Co-operative Stores. C) Neethi Medical Stores. D) All of these. Show Answer Correct Answer: D) All of these. 20. What is one reason why public corporations are established? A) To maximize profits for shareholders. B) To provide essential services to the public. C) To compete with private businesses. D) To operate without any regulations. Show Answer Correct Answer: B) To provide essential services to the public. 21. Assertion (A):A company can enter into contracts, file suits against others, and can own property.Reason(R):A company is a creation of law, it is called an artificial person. 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: A) Both A and R are true and R is the correct explanation of A. 22. What essential services are offered free or subsidized by public enterprises? A) Electricity and water. B) Schools and hospitals. C) Internet and phone services. D) Luxury goods. Show Answer Correct Answer: B) Schools and hospitals. 23. Who undertakes the management & control of the affairs of the company on behalf of its owners? A) Board of Directors. B) Departmental Heads. C) Managing Directors. D) Vice president. Show Answer Correct Answer: A) Board of Directors. 24. This type of partnership is less risky because this partner is only responsible for the contribution he/she has made to the partnership A) Sole proprietorship. B) General Partnership. C) Corporation. D) Limited partnership. Show Answer Correct Answer: D) Limited partnership. 25. Service offered by wholesale to manufacture as a? A) Help in marketing function. B) Provide financial assistance. C) Storage. D) All of the above. Show Answer Correct Answer: A) Help in marketing function. ← 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