This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 2 Forms Of Business Organisation – Quiz 6 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 6 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Registration of General Partnership Firm will be done by ..... A) Registrar of Companies. B) Registrar og Industries. C) Registrar of Firm. D) Registrar of Co-operative Societies. Show Answer Correct Answer: C) Registrar of Firm. 2. Is it mandatory for a sole proprietor to obtain license? A) Yes. B) No. C) Depends on the situation. D) None of the above. Show Answer Correct Answer: B) No. 3. The liability of all the co-parceners except the ..... is limited to their share in the business, and consequently their risk is well-defined and precise. A) Karta. B) Partners. C) Members. D) Eldest Co-parcener. Show Answer Correct Answer: A) Karta. 4. Angel funds A) Angel funds require a full repayment of the investment within a year. B) Angel funds provide financial support to startups in exchange for equity. C) Angel funds are only available to established companies. D) Angel funds are government grants for small businesses. Show Answer Correct Answer: B) Angel funds provide financial support to startups in exchange for equity. 5. Mention the maximum number of partners in partnership and under which Act it is mention. A) 100, Indian Partnership Act 1945. B) 50, Indian Partnership Act, 1932. C) 50, Companies Act 2013. D) 100, Companies Act 2015. Show Answer Correct Answer: C) 50, Companies Act 2013. 6. What must a Partnership have to reduce misunderstandings? A) A government license. B) A verbal agreement. C) A written agreement. D) No agreement needed. Show Answer Correct Answer: C) A written agreement. 7. Which of the following statements about most public limited companies is true? A) They are owned and controlled by the workers. B) They are owned by the directors but controlled by the shareholders. C) The are owned by shareholders but controlled by directors. D) They are owned and controlled by the government. Show Answer Correct Answer: C) The are owned by shareholders but controlled by directors. 8. Which is a form of business organisation found only in India A) Sole Proprietorship. B) Partnership. C) Hindu Undivided Family. D) Joint stock company. Show Answer Correct Answer: C) Hindu Undivided Family. 9. The karta in joint hindu family business has A) Limited liability. B) Unlimited liability. C) No liability. D) Joint liability. Show Answer Correct Answer: D) Joint liability. 10. Whose liability in a HUF is unlimited A) Co parceners. B) Karta and co parceners. C) Nobody. D) Karta. Show Answer Correct Answer: D) Karta. 11. A shop selling kid's wear is an example of ..... ? A) Street traders. B) Street shops. C) Specialty stores. D) Single line stores. Show Answer Correct Answer: A) Street traders. 12. Advantages of this type of business include:selling stock to raise money, limited liability. A) Sole Proprietorship. B) Partnership. C) Limited company. D) Franchise. Show Answer Correct Answer: C) Limited company. 13. Find out the liability of Kavita in a company. Who is a shareholder, holding 3, 000 shares of Rs. 10 each. She has already paid Rs. 6 per share. A) Rs 10, 000. B) Rs. 1, 20, 000. C) Rs 18, 000. D) Rs. 12000. Show Answer Correct Answer: D) Rs. 12000. 14. Disadvantages of this type of business include:company is taxed on profits, regulated by the government, and hard to start. A) Sole Proprietorship. B) Partnership. C) Corporation. D) Franchise. Show Answer Correct Answer: C) Corporation. 15. The main disadvantage of a ..... is that each person is fully responsible for the acts of all other persons. A) Proprietorship. B) Partnership. C) Corporation. D) Franchise. Show Answer Correct Answer: B) Partnership. 16. What is the primary motive of a Cooperative Society? A) Competition. B) Service. C) Expansion. D) Profit. Show Answer Correct Answer: B) Service. 17. Which one is NOT a feature of company A) Perpetual succession. B) Limited liability. C) Body corporate. D) Natural Person. Show Answer Correct Answer: D) Natural Person. 18. The head of the Joint Hindu family is called A) Karta. B) Propriter. C) Director. D) None of the above. Show Answer Correct Answer: A) Karta. 19. Break-even point is the point at which A) Total revenue equals total costs. B) Total revenue is maximized. C) Total costs are minimized. D) Total revenue exceeds total costs. Show Answer Correct Answer: A) Total revenue equals total costs. 20. What is a feature of a Joint Stock Company? A) No transferability of shares. B) Single ownership. C) Perpetual succession. D) Unlimited liability. Show Answer Correct Answer: C) Perpetual succession. 21. Which of the following are the forms of non-corporate organisations A) Joint Hindu Family. B) Co-operative Society. C) Limited Liability Partnership. D) None of the above. Show Answer Correct Answer: A) Joint Hindu Family. 22. These partners take actual part in carrying out business of the firm on behalf of other partners. A) Active partners. B) Sleeping or dormant partners. C) Secret partners. D) Nominal partners. Show Answer Correct Answer: A) Active partners. 23. What are the merits of a Joint Stock Company? A) Limited Liability. B) Liquidity. C) Tax Benefits. D) All of the above. Show Answer Correct Answer: D) All of the above. 24. ..... is head of JHFB. A) KARTA. B) Member. C) Manager. D) None of these. Show Answer Correct Answer: A) KARTA. 25. Which is TRUE in respect of Active Partner A) Contributes Capital. B) Actively participates in the management of firm. C) Unlimited Liability. D) All of the above. Show Answer Correct Answer: D) All of the above. ← 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 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