This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 2 Forms Of Business Organisation – Quiz 33 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 33 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. This type of company has a maximum of fifty (50) shareholders A) Public Limited. B) Private Limited. C) Public Unlimited. D) Private Unlimited. Show Answer Correct Answer: B) Private Limited. 2. Name the partnership in which partners can close partnership by giving notice. A) Partnership at will. B) General Partnership. C) Limited Liability Partnership. D) Particular Partnership. Show Answer Correct Answer: A) Partnership at will. 3. What is the smallest amount of money a private company must have as share capital? A) Ten thousand rupees. B) Fifty thousand rupees. C) One lakh rupees. D) Five lakh rupees. Show Answer Correct Answer: C) One lakh rupees. 4. She not is a shareholder in a company holding 10, 000 shares of Rs.10 each on which he has already paid Rs.8 per share. What will be his liability in the event of losses or company's failure to pay debts? A) Rs. 22, 000. B) Rs.21, 000. C) Rs.20, 000. D) Rs.20, 200. Show Answer Correct Answer: C) Rs.20, 000. 5. Preliminary contracts are: A) Binding on the company. B) Binding on the company, if ratified after incorporation. C) Binding on the company, after incorporation. D) Not binding on the company. Show Answer Correct Answer: B) Binding on the company, if ratified after incorporation. 6. According to the Indian Partnership Act, 1932, the partners may get the firm registered with the ..... of the state in which the firm is situated. A) Registrar of partners. B) Registrar office. C) Registrar of company. D) Registrar of firms. Show Answer Correct Answer: D) Registrar of firms. 7. A producer that mines coal is a(n) A) Wholesaler. B) Extractor. C) Manufacturer. D) Retailer. Show Answer Correct Answer: B) Extractor. 8. Which of the following is an advantage of a Franchise? A) A nationwide network that had a respected product, a deep product line, excellent quality standards, nationwide advertising, and professional advice whenever needed. B) The ease of raising financial capital through stocks, bonds, and loans. C) The ease of management between two or more partners. D) The limited liability protection of a person's assets if the company fails. Show Answer Correct Answer: A) A nationwide network that had a respected product, a deep product line, excellent quality standards, nationwide advertising, and professional advice whenever needed. 9. What is a disadvantage of public enterprises if they do not make a profit? A) They become more efficient. B) They rely on taxpayer money. C) They earn more revenue. D) They shut down. Show Answer Correct Answer: B) They rely on taxpayer money. 10. Which of the following is not a clause of a memorandum of association? A) Capital clause. B) Object clause. C) Director clause. D) Name clause. Show Answer Correct Answer: C) Director clause. 11. To earn a profit, a person or organization needs management ..... to plan, organize, and control the activities of the business A) Skills. B) Information. C) Documents. D) None of the above. Show Answer Correct Answer: A) Skills. 12. No capital Investment is needed for ..... A) Business. B) Profession. C) Employment. D) All of these. Show Answer Correct Answer: C) Employment. 13. There is separation of ownership from management in this form of business A) Sole proprietorship. B) Partnership. C) Joint Hindu family. D) Joint stock company. Show Answer Correct Answer: D) Joint stock company. 14. A company inviting funds from general public must conceal any material information from potential investors. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 15. HUF is ..... successive generation can be members in the business. A) 1. B) 2. C) 3. D) 4. Show Answer Correct Answer: C) 3. 16. Multinational companies operate in A) Only one country. B) Only in foreign countries. C) Morethan one country. D) None of the above. Show Answer Correct Answer: C) Morethan one country. 17. In which type of Partnership, Registration of firm is compulsory? A) Unlimited Partnership. B) General Partnership. C) Limited Partnership. D) Particular Partnership. Show Answer Correct Answer: C) Limited Partnership. 18. Only the Karta has unlimited liability. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. 19. Which of the following is not a feature of the company? A) Oligarchic management. B) Perpetual succession. C) Artificial Person. D) Separate legal entity. Show Answer Correct Answer: A) Oligarchic management. 20. Which of the following is an advantage of a sole proprietorship? A) Ease of starting a business. B) (b) being your own boss. C) (c) pride of ownership. D) (d) all of the above. Show Answer Correct Answer: D) (d) all of the above. 21. What is the primary advantage of a Sole Proprietorship? A) Easy decision-making. B) Shared profits. C) Limited liability. D) Complex structure. Show Answer Correct Answer: A) Easy decision-making. 22. In which form of business organisation the confidence of the public is generally low? A) Joint Stock Company. B) Partnership. C) Cooperative Society. D) Sole Proprietorship. Show Answer Correct Answer: B) Partnership. 23. What is the minimum number of members required to form a cooperative society? A) 7. B) 10. C) 2. D) 50. Show Answer Correct Answer: B) 10. 24. Identify the liability of Minor in Joint Hindu Family Business. A) Limited. B) Unlimited. C) All the above. D) None of the above. Show Answer Correct Answer: A) Limited. 25. Which is NOT a feature of Co-operative societies A) Limited liability. B) Autocratic member control. C) Seperate legal status. D) Voluntary membership. Show Answer Correct Answer: B) Autocratic member control. ← 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