This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 2 Forms Of Business Organisation – Quiz 27 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 27 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Board of Directors will be elected by ..... A) Government. B) Employess of the company. C) Shareholders of the company. D) Creditors of the company. Show Answer Correct Answer: C) Shareholders of the company. 2. Which of the following statements about an organisation chart is not true? A) An organisation chart provides a summary of the structure of a business. B) An organisation chart can improve internal communications within a business. C) An organisation chart can improve employees' understanding of their role in a business. D) An organisation chart can indicate functional authority but not line authority within a business. Show Answer Correct Answer: D) An organisation chart can indicate functional authority but not line authority within a business. 3. The minimum number of members required to form a cooperative society is- A) Five. B) Ten. C) Twenty. D) Two. Show Answer Correct Answer: B) Ten. 4. Secracy in sole tradership is always profitable. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 5. What is a disadvantage of being a limited company? A) Shareholders have limited liability. B) Profits are often shared between more people. C) More capital be be raised by issuing shares. D) Control of the business cannot be lost to external parties. Show Answer Correct Answer: B) Profits are often shared between more people. 6. The banks offers Overdraft facility to A) Recurring Deposit Holder. B) Current Account Holder. C) Savings Bank Account Holder. D) None of these. Show Answer Correct Answer: B) Current Account Holder. 7. Who is the only owner of the sole proprietorship? A) Karta. B) Partner. C) Sole proprietor. D) Co parceners. Show Answer Correct Answer: C) Sole proprietor. 8. Issued capital of A tech ltd.was Rs. 5o crore, co.gets the subscribed capital of Rs.44 crore. Now company can allot share to shareholders. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 9. Which feature of partnership binds all the partners to the agreement signed by one partner? A) Mutual Agency. B) Decision Making and control. C) Risk bearing. D) None of the above. Show Answer Correct Answer: A) Mutual Agency. 10. From the following which is allowed to sell shares to public? A) Private Limited Company. B) Public Limited Company. C) Sole Trader. D) Partnership Firm. Show Answer Correct Answer: B) Public Limited Company. 11. Minimum nember of members for forming a private company is ..... A) 5. B) 2. C) 7. D) 25. Show Answer Correct Answer: B) 2. 12. Amount of capital issued to the shareholders. A) Called up capital. B) Paid up capital. C) Issued share capital. D) None of the above. Show Answer Correct Answer: C) Issued share capital. 13. Some owners have unlimited liability A) Sole trader. B) Partnership. C) Business. D) Organisation. Show Answer Correct Answer: B) Partnership. 14. 1 Minimum number of partner in partnership firm? A) 1. B) 2. C) 3. D) 4. Show Answer Correct Answer: B) 2. 15. The business is owned and operated by one (1) person A) Proprietorship. B) Sole Proprietorship. C) Sole Proprietorship. D) Soul Proprietorship. Show Answer Correct Answer: B) Sole Proprietorship. 16. What is the main responsibility of the board of directors in a Company? A) To manage the business. B) To sell shares. C) To pay taxes. D) To hire employees. Show Answer Correct Answer: A) To manage the business. 17. A business run by 2-20 people and has unlimited liability is known as a: A) Company. B) Sole trader. C) Partnership. D) None of the above. Show Answer Correct Answer: C) Partnership. 18. Who owns a private limited company? A) Shareholders. B) Directors. C) Company management. D) Stakeholders. Show Answer Correct Answer: A) Shareholders. 19. A business owned and managed by a single person are called as ..... A) Sole Proprietorship. B) Partnership. C) Hindu Undivided Family. D) Joint stock company. Show Answer Correct Answer: A) Sole Proprietorship. 20. The compliance of Limited Liability Partnership is A) High. B) Medium. C) Low. D) All of the above. Show Answer Correct Answer: C) Low. 21. Two Brothers Pizza would most likely show which type of ownership A) Partnership. B) Corporation. C) Stock and Bonds. D) Single Ownership. Show Answer Correct Answer: A) Partnership. 22. Which of the following is NOT a form of business organisation A) Co-operative Societies. B) Companies. C) Trusts. D) Partnerships. Show Answer Correct Answer: C) Trusts. 23. Which of the following is not the benefit of cooperative societies? A) Stability. B) Political interference. C) Democratic management. D) Tax advantage. Show Answer Correct Answer: B) Political interference. 24. OPC as a type of company means A) Oil Producing Company. B) One Person Company. C) Oxygen Producing Company. D) None of these. Show Answer Correct Answer: B) One Person Company. 25. In HUF members of the family are called as A) Share holders. B) Partners. C) Coparceners. D) Owners. Show Answer Correct Answer: C) Coparceners. ← 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