This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 2 Forms Of Business Organisation – Quiz 32 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 32 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. ..... have to put up resources-money or credit-to start a business A) Owners. B) Customers. C) Employees. D) None of the above. Show Answer Correct Answer: A) Owners. 2. Identify the society formed by the financially poor people of Nand Nagri. A) Cooperative Credit Society. B) Marketing Cooperative Society. C) Producers' Cooperative Society. D) Consumers' Cooperative Society. Show Answer Correct Answer: A) Cooperative Credit Society. 3. Who issues the certificate of Incorporation? A) Auditor. B) Registrar. C) Director. D) Shareholder. Show Answer Correct Answer: B) Registrar. 4. Which type of business organisation is the most popular and suitable for Small business. A) Joint Hindu Family. B) Sole Proprietorship. C) Partnership. D) Cooperative society. Show Answer Correct Answer: B) Sole Proprietorship. 5. What is the capital contribution in a Partnership based on? A) Random selection. B) Equal shares. C) Government rules. D) Agreed ratio. Show Answer Correct Answer: D) Agreed ratio. 6. Y plc is a growing organisation which has recently diversified into a number of significant new productmarkets. It has also recently acquired another company in one of its overseas markets.What would be the most appropriate form of organisation for Y plc? A) Geographical departmentation. B) Divisionalisation. C) Functional Departmentation. D) None of the above. Show Answer Correct Answer: B) Divisionalisation. 7. Which business depends on just one person for the skills and talents to run the business? A) Sole Proprietorship. B) Partnership. C) Corporation. D) Franchise. Show Answer Correct Answer: A) Sole Proprietorship. 8. Which of the following item is considered as retained earnings? A) Equity Capital. B) Debenture Capital. C) Self Financing. D) Borrowed Capital. Show Answer Correct Answer: C) Self Financing. 9. What is an advantage of being a sole trader? A) The owner has unlimited liability. B) Cannot employ more people thus saving on salaries. C) Comparatively low tax rates. D) The owner keeps 100% of the profits. Show Answer Correct Answer: D) The owner keeps 100% of the profits. 10. At least 10 members are required to form ..... A) Patnership. B) Cooperative Society. C) Joint stiock company. D) All of the above. Show Answer Correct Answer: B) Cooperative Society. 11. A particular partnership firm can most likely be dissolved with A) Will of the partners. B) Fulfillment of the firm's purpose. C) Application of the firm's creditors. D) Decision of the Court. Show Answer Correct Answer: B) Fulfillment of the firm's purpose. 12. Private Limited Companies have A) Limited Liability. B) Unlimited Liability. C) All the above. D) None of the above. Show Answer Correct Answer: A) Limited Liability. 13. Karta in Joint Hindu Family business has A) Unlimited liability. B) Joint liability. C) Limited liability. D) None of the above. Show Answer Correct Answer: A) Unlimited liability. 14. If the owners of a partnership take out a loan they are personally responsible for the loan. A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: A) Yes. 15. Registration of partnership firm is ..... in Maharashtra. A) Voluntary. B) Compulsory. C) Easy. D) Lengthy. Show Answer Correct Answer: B) Compulsory. 16. A ..... must name a board of directors that will make the major policy and financial decisions for the business. A) Limited liability company. B) Proprietorship. C) Corporation. D) Limited liability partnership. Show Answer Correct Answer: C) Corporation. 17. Identify the form of organisation in which minors can also be members. A) Partnership. B) Joint Hindu Undivided Business. C) Cooperative Society. D) Public Company. Show Answer Correct Answer: B) Joint Hindu Undivided Business. 18. X, Y and Z are partners in a firm. All three of them handle different departments as they have expertise in those areas. They all equally share their duties and control the business operations which help in smooth working of the firm. Which feature of partnership is highlighted here? A) Membership. B) Continuity. C) Decision making and Control. D) Mutual Agency. Show Answer Correct Answer: C) Decision making and Control. 19. A company which comes in to existence by a special act of the parliament or legislature is called A) A.Chartered companies. B) C.Registered companies. C) D.Statutory companies. D) None of the above. Show Answer Correct Answer: C) D.Statutory companies. 20. LLP stands for ..... A) Limited Labour Partnership. B) Liked Liability Partneership. C) Linked Liability Partnership. D) Limited Liability Partnership. Show Answer Correct Answer: D) Limited Liability Partnership. 21. A proprietor directly gets the benefits of his efforts as he is the sole recipient of all the profits. Identify the merit. A) Sole earner. B) Profit recipient. C) Direct Incentive. D) Profit making. Show Answer Correct Answer: C) Direct Incentive. 22. In which of the following classification of trade? A) Internal Trade. B) Wholesale Trade. C) Retail Trade. D) Exports. Show Answer Correct Answer: A) Internal Trade. 23. They have a separate legal identity from their owners. A) Incorporated businesses. B) Unincorporated businesses. C) All the above. D) None of the above. Show Answer Correct Answer: A) Incorporated businesses. 24. Public limited companies are usually large, well-known businesses, set up by at least two ..... A) Franchisees. B) Shareholders. C) Members. D) None of the above. Show Answer Correct Answer: B) Shareholders. 25. What are the different types of partnerships? A) Business partnerships. B) Strategic partnerships. C) General partnerships, limited partnerships, limited liability partnerships, and joint ventures. D) Corporate partnerships. Show Answer Correct Answer: C) General partnerships, limited partnerships, limited liability partnerships, and joint ventures. ← 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