This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 2 Forms Of Business Organisation – Quiz 29 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 29 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. ..... is a type of business unit where a person is solely responsible for providing the capital. A) Sole proprietorship. B) Joint hindu family business. C) Partnership. D) Cooperative societies. Show Answer Correct Answer: A) Sole proprietorship. 2. The written agreement between partners are called as ..... A) Partnership Document. B) Partnership Articles. C) Partnership Charter. D) Partnership Deed. Show Answer Correct Answer: D) Partnership Deed. 3. A minor shares both profit and losses of partnership firm A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 4. Partnership Act was passed in the year ..... A) 2013. B) 1956. C) 1932. D) 1986. Show Answer Correct Answer: C) 1932. 5. McDonald's and Burger King are examples of ..... A) Sole Proprietorships. B) Partnerships. C) Corporations. D) Franchises. Show Answer Correct Answer: D) Franchises. 6. I inform the creditors and outsider what the company is permitted to do. Who am I? A) Domicile Clause. B) Capital Clause. C) Objects Clause. D) Liability Clause. Show Answer Correct Answer: C) Objects Clause. 7. One of the reasons for a business buying a franchise is because: A) It is always much cheaper than setting up a new business venture. B) There is complete control over important decisions. C) The business can use its own name in advertisements. D) The risks of failure are lower as it is buying a well known business idea. Show Answer Correct Answer: D) The risks of failure are lower as it is buying a well known business idea. 8. Which of the following laws governs partnership form of business organisation A) Indian Partnership Act, 1930. B) Indian partnership Act 1932. C) Indian Partnership Act, 1950. D) Indian Patnership Act, 1952. Show Answer Correct Answer: B) Indian partnership Act 1932. 9. Which is NOT a demerit of Sole Preprietorship A) Limited life of business. B) Unlimited liability. C) Unlimited resources. D) Limited managerial ability. Show Answer Correct Answer: C) Unlimited resources. 10. Statement in lieu of prospectus can be filed by a public company going for a public issue. A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: A) False. 11. The life span of sole proprietorship is ..... A) Stable. B) Unstable. C) Permenant. D) All of the above. Show Answer Correct Answer: B) Unstable. 12. District Industries Centres was set up in A) March 1978. B) May 1978. C) April 1978. D) May 1987. Show Answer Correct Answer: B) May 1978. 13. Large financial resources A) Cooperative Societies. B) Joint Stock Company. C) Partnership. D) Joint Hindu Family Business. Show Answer Correct Answer: B) Joint Stock Company. 14. The minimum number of partners allowed in banking business ..... A) 20. B) 10. C) No limit. D) 2. Show Answer Correct Answer: D) 2. 15. Which of the following forms is the most suitable if separation of ownership with that of management is to be ensured? A) Partnership. B) Cooperative Society. C) Hindu Undivided Family business. D) Joint Stock Company. Show Answer Correct Answer: D) Joint Stock Company. 16. Minors can also become members of this form of business A) Sole proprietor ship. B) Partnership. C) Joint Hindu family. D) Cooperative societies. Show Answer Correct Answer: C) Joint Hindu family. 17. Which statement can be associated with the characteristics of a private company? A) It allows transfer of shares. B) It restricts transfer of shares. C) It sells shares to investors. D) It issues shares to the public. Show Answer Correct Answer: B) It restricts transfer of shares. 18. Whih is NOT correct in respect of sleeping partner A) Contributes Capital. B) Actively participates in the management of firm. C) Unlimited Liability. D) Shares Profits or Losses. Show Answer Correct Answer: B) Actively participates in the management of firm. 19. The structure in which there is sepration of ownership and management is called ..... A) Joint Stock Company. B) Sole proprietorship. C) Both A and B. D) NOne of the above. Show Answer Correct Answer: A) Joint Stock Company. 20. Legislations governing the ownership and use of creative mind. A) Copyright, trademark, and patent laws. B) Trade secrets and non-disclosure agreements. C) Employment contracts and labor laws. D) Consumer protection and safety regulations. Show Answer Correct Answer: A) Copyright, trademark, and patent laws. 21. The co-operative society is compulsory required to be registered under the cooperative societies act A) 1956. B) 1952. C) 1912. D) 1932. Show Answer Correct Answer: C) 1912. 22. What percentage of the profits in sole proprietorship is the owner designated to? A) 75%. B) 100%. C) 54%. D) 0%. Show Answer Correct Answer: B) 100%. 23. In a ..... partnership, at least one of the partners in the business must have unlimited liability. A) A limited. B) An unlimited. C) A private. D) None of the above. Show Answer Correct Answer: A) A limited. 24. Partnership agreement must be oral. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 25. Which form of business organisation is discussed in the above case? A) Joint stock company. B) Cooperative organisation. C) Partnership. D) Sole proprietorship. Show Answer Correct Answer: B) Cooperative organisation. ← 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