This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 2 Forms Of Business Organisation – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 3 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The partner who allows the firm to use his name is called, A) Active. B) Sleeping. C) Nominal. D) Minor. Show Answer Correct Answer: C) Nominal. 2. 'One man show' form of business organisation is A) Joint Hindu family business. B) Sole proprietorship business. C) Organisation. D) None of the above. Show Answer Correct Answer: B) Sole proprietorship business. 3. One advantage of a Co-operative business is that members work for themselves and make shared decision. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 4. Which one is NOT a merit of co-operative societies A) Inequality in voting rights. B) Support from Government. C) Limited Liability. D) Stable existence. Show Answer Correct Answer: A) Inequality in voting rights. 5. The principle of corporate veil separates ..... A) The company with creditors. B) The company from people behind it. C) The creditors with shareholders. D) None of the above. Show Answer Correct Answer: B) The company from people behind it. 6. Groups of people form consumer cooperatives to A) Purchase goods and services more cheaply than they could as individuals. B) Reduce the amount of property taxes that each member must pay. C) Generate a profit for each member of the group. D) Increase their political power in their community. Show Answer Correct Answer: A) Purchase goods and services more cheaply than they could as individuals. 7. The head of Joint Hindu business is called A) Director. B) Chairman. C) Owner. D) Karta. Show Answer Correct Answer: D) Karta. 8. Hindu Succession Act was passed in ..... A) 1952. B) 1960. C) 1932. D) 1956. Show Answer Correct Answer: D) 1956. 9. One man one vote A) Sole proprietorship. B) Partnership. C) Joint Hindu Family Business. D) Cooperative Societies. Show Answer Correct Answer: D) Cooperative Societies. 10. Ramesh is presenting himself as a partner of ABC Associates through his conduct or behavior. Clients dealing with the firm accept him as a partner due to his self-acclaimed attitude of being a partner of the firm. Which type of partner Mr. Ramesh is referred to in the above case? A) Active partner. B) Sleeping partner. C) Secret partner. D) Partner by Estoppel. Show Answer Correct Answer: D) Partner by Estoppel. 11. The shareholders elect a Board of Directors to run a Private Limited Company A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 12. From the following which is a disadvantages of being a sole trader? A) Few legal regulations. B) Freedom to choose his own holidays. C) Does not have to share these profits. D) Unlimited liability. Show Answer Correct Answer: D) Unlimited liability. 13. Whichofthefollowingisanadvantageof operatingalargeestablishedbusiness as a limited company? 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. 14. Disadvantages of this type of business include:parent company is strict, you are limited in what you sell, and you must operate like every other franchise. A) Sole Proprietorship. B) Partnership. C) Corporation. D) Franchise. Show Answer Correct Answer: D) Franchise. 15. The skill of generating new ideas is termed as: A) Innovation. B) Invention. C) Creativity. D) Entrepreneurship. Show Answer Correct Answer: C) Creativity. 16. Minimum number of members to form a public company is ..... A) 10. B) 7. C) 2. D) 50. Show Answer Correct Answer: B) 7. 17. Which is NOT a demerit of HUF business A) Unlimited liability of Karta. B) Limited Resouces. C) Increased loyalty from all members. D) Dominance of Karta in decision making. Show Answer Correct Answer: C) Increased loyalty from all members. 18. Usually, partnerships have ..... A) 2 to 20 partners. B) 2 to 4 partners. C) Mora than 50 partners. D) Unlimited partners. Show Answer Correct Answer: A) 2 to 20 partners. 19. Which one NOT a content of Partnership Deed A) Nature and location of Busuness. B) Profit sharing ratio. C) Capital contribution of each partners. D) List of Personal Property of partners. Show Answer Correct Answer: D) List of Personal Property of partners. 20. Hindu Undivided Family Business is governed by ..... Act A) Partnership Act. B) Sole Proprietorship Act. C) Hindu Succession Act. D) Hindu Marriage Act. Show Answer Correct Answer: C) Hindu Succession Act. 21. What is a limitation of a Joint Hindu Family Business? A) Limited capital. B) Unlimited liability of Karta. C) Hasty decisions. D) All of the above. Show Answer Correct Answer: D) All of the above. 22. Rohit is setting up a coaching institute. Which of the following factors related to starting of business will be NOT considered by Rohit? A) Whether to set up a partnership or sole proprietorship. B) Pricing of the courses offered. C) Location of the institute. D) Layout of the classrooms & reception area. Show Answer Correct Answer: B) Pricing of the courses offered. 23. Online Registration portal for Partnership Firms in Kerala is called as ..... A) E DROPS. B) E GROOPS. C) E FIRMS. D) E POSTS. Show Answer Correct Answer: B) E GROOPS. 24. In which business enterprises person get full profit and he alone bears risk: A) Joint Hindu Family. B) Cooperative Society. C) Partnership. D) Sole Proprietor. Show Answer Correct Answer: D) Sole Proprietor. 25. Which form of organisation is suitable if direct control over operations & absolute decision making power is required in business? A) Joint Stock Co. B) Cooperative society. C) Sole proprietorship. D) HUF. Show Answer Correct Answer: C) Sole proprietorship. ← 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 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 10Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books