This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 2 Forms Of Business Organisation – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 4 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Advantages of this business type are that the owner is their own boss and gets to keep all the profits. A) Partnership. B) Sole Proprietorship. C) Franchise. D) Private limited company. Show Answer Correct Answer: B) Sole Proprietorship. 2. Which of the following is not a common characteristics between different types of organisations. A) Collective Goals. B) Controlled Performance. C) Social Arrangement. D) Profit Maximisation. Show Answer Correct Answer: D) Profit Maximisation. 3. Identify the type of cooperative society highlighted in the given statement. "It is formed by those who want to procure residential accomodation at lower costs '' A) Marketing cooperative society. B) Credit cooperative society. C) Cooperative housing society. D) Consumers cooperative society. Show Answer Correct Answer: C) Cooperative housing society. 4. A concept which states that the transactions of the business must be distinguished and differentiated from the transactions of the owners is called ..... A) Business entity concept. B) Business permit concept. C) Business tax concept. D) Business financial report concept. Show Answer Correct Answer: A) Business entity concept. 5. No paperwork (charter or agreement) is required to start which type of business? A) Partnership. B) Franchise. C) Sole Proprietorship. D) Corporation. Show Answer Correct Answer: C) Sole Proprietorship. 6. Which of the following is NOT a type of partner? A) Active partner. B) Sleeping partner. C) Secret partner. D) Independent partner. Show Answer Correct Answer: D) Independent partner. 7. Partners who are only responsible up to the extent of their investment A) Limited partnership. B) Trading partnership. C) Non-trading partnership. D) Special partnership. Show Answer Correct Answer: A) Limited partnership. 8. This type of business is owned by many people called shareholders. A) Sole Proprietorship. B) Partnership. C) Joint Stock Company. D) Franchise. Show Answer Correct Answer: C) Joint Stock Company. 9. Capital clause specifies- A) Authorised capital. B) Subscribed capital. C) Paid up capital. D) Issued capital. Show Answer Correct Answer: A) Authorised capital. 10. Carrying out staff training is done by ..... A) Human Resources. B) Marketing. C) All the above. D) None of the above. Show Answer Correct Answer: A) Human Resources. 11. ..... are payments made to shareholders from the profits (after tax) ofa company. A) Interests. B) Dividends. C) Salaries. D) Bonuses. Show Answer Correct Answer: B) Dividends. 12. Which is FALSE in repect of Partnership A) Joint and Several Liability. B) Each partner is an agent and principal for each others. C) Decision making through mutual consent anf joint effort. D) Continuity of Partnership will be there. Show Answer Correct Answer: D) Continuity of Partnership will be there. 13. The cooperative society lays emphasis on ..... motive. A) PROFIT MOTIVE. B) SERVICE MOTIVE. C) All the above. D) None of the above. Show Answer Correct Answer: B) SERVICE MOTIVE. 14. What impact does the expansion of industrial and trading activities by MNCs (Multinational Companies) have on host countries? A) Decreased standard of living. B) Limited employment opportunities. C) Creation of employment opportunities. D) Reduced foreign exchange reserves. Show Answer Correct Answer: C) Creation of employment opportunities. 15. What is the liability of a sleeping partner? A) Limited liability. B) Unlimited liability. C) Shared liability. D) No liability. Show Answer Correct Answer: A) Limited liability. 16. The existence of a society is not affected by the death, insanity, insolvency etc. True or False A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: B) True. 17. Which one of these statements about sole traders is false? A sole trader ..... A) Still have to pay tax on profits earned. B) Can only have one employee. C) Is relatively cheap and easy to set up. D) Has unlimited liability. Show Answer Correct Answer: B) Can only have one employee. 18. What responsibility does the government hold in a Public Private Partnership (PPP)? A) No responsibility. B) Responsibility for profits. C) Responsibility for costs and quality. D) Responsibility for private sector decisions. Show Answer Correct Answer: C) Responsibility for costs and quality. 19. Partnership is the relation which subsists between persons who have agreed to combine their property, labour or skill in some business and to share the profits therefrom between them. A) True. B) False. C) Partially True. D) None of these. Show Answer Correct Answer: A) True. 20. What is a disadvantage of a partnership? A) Ease of formation. B) Limited liability. C) Owners share responsibilities. D) Possibility of personality conflict. Show Answer Correct Answer: D) Possibility of personality conflict. 21. In partnership firm, the liability of every partner is limited, joint & several. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 22. What is the partnership written agreement known as? A) Partnership contract. B) Agreement. C) Partnership deed. D) Partnership Act. Show Answer Correct Answer: C) Partnership deed. 23. Debenture holders are the company's A) Borrowers. B) Creditors. C) Debtors. D) Owners. Show Answer Correct Answer: B) Creditors. 24. Economic activities may be classified into business, ..... and employment A) Profession. B) Occupation. C) Vocation. D) Work. Show Answer Correct Answer: A) Profession. 25. A corporation can continue to exist after the death of its owners A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. ← 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 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