Olete.in – MCQs, Mock Tests & Government Job Prep | Business Studies Business Studies-[Class 11-MCQS ]-Chapter 2 Forms of Business Organisation

At least 10 adults, no maximum limit in case of ______

1. Company
2. Cooperative Society
3. Joint Hindu Family
4. Partnership

✅ Correct Answer: 2

What is the limit of members in case of a Private Company?

1. 2
2. 7
3. 10
4. 50

✅ Correct Answer: 4

The life of sole proprietorship business is ______

1. Unstable
2. Stable
3. Very short life
4. Long life

✅ Correct Answer: 1

Provision of residential accommodation to the members at reasonable rates is the objective of

1. Consumers cooperative
2. Credit cooperative
3. Housing cooperative
4. Producers cooperative

✅ Correct Answer: 3

The capital of a company is divided into number of parts each one of which are called

1. Share
2. Dividend
3. Profit
4. Interest

✅ Correct Answer: 1

The maximum number of partners allowed in the banking business are

1. Two
2. Twenty
3. No limit
4. Ten

✅ Correct Answer: 4

In a cooperative society the principle followed is

1. One share one vote
2. One man one vote
3. No vote
4. Multiple votes

✅ Correct Answer: 1

The structure in which there is separation of ownership and management as per law is called

1. Company
2. All business organisations
3. Partnership
4. Sole proprietorship

✅ Correct Answer: 1

Co-operatives play an important role in:

1. aerospace
2. agriculture
3. manufacturing
4. all of the above

✅ Correct Answer: 2

Which of the following is a characteristic of a co-operative?

1. profits are not subject to income tax
2. one vote per share
3. dividends are paid on a per share basis
4. all of the above

✅ Correct Answer: 1

A__________ provides for the greatest degree of continuity:

1. general partnership
2. joint venture
3. corporation
4. sole proprietorship

✅ Correct Answer: 3

Which of the following is probably the most important reason for incorporating?

1. limited liability of shareholders
2. more money for investment
3. increased flexibility
4. shared management

✅ Correct Answer: 1

A_____________partner is an owner who has unlimited liability and is active in managing the firm:

1. senior partner
2. general partner
3. silent partner
4. limited partner

✅ Correct Answer: 2

A ___________ is a business with two or more owners:

1. corporation
2. conglomerate
3. partnership
4. public corporation

✅ Correct Answer: 3

Which of the following is an advantage of a sole proprietorship?

1. ease of starting a business
2. being your own boss
3. pride of ownership
4. all of the above

✅ Correct Answer: 4

The form of business organization that has the largest sales volume is the:

1. partnership
2. corporation
3. cooperative
4. multinational

✅ Correct Answer: 2

In case of ___________ Registration is compulsory

1. Sole Proprietorship
2. Partnership
3. None of these
4. Company

✅ Correct Answer: 4

Hindu Succession Act was passed in _________

1. 1952
2. 1960
3. 1932
4. 1956

✅ Correct Answer: 4

A partner whose association with the firm is unknown to the general public is called

1. Active partner
2. Sleeping partner
3. Nominal partner
4. Secret partner

✅ Correct Answer: 4

The Head of the joint Hindu family business is called

1. Manager
2. Proprietor
3. Karta
4. Director

✅ Correct Answer: 3

Profits do not have to be shared. This statement refers to

1. Company
2. Sole proprietorship
3. Joint Hindu family business
4. Partnership

✅ Correct Answer: 2

The board of directors of a joint stock company is elected by

1. General public
2. Government bodies
3. Shareholders
4. Employees

✅ Correct Answer: 3

The karta in Joint Hindu family business has

1. No liability for debts
2. Unlimited liability
3. Joint liability
4. Limited liability

✅ Correct Answer: 2

The most effective form of business organization for raising capital is the:

1. joint venture
2. partnership
3. corporation
4. proprietorship

✅ Correct Answer: 3

The major advantage of a franchise is:

1. training and management assistance
2. personal ownership
3. nationally recognized name
4. all of the above

✅ Correct Answer: 4

Which of the following is an example of a non profit organization?

1. Royal Bank
2. YMCA
3. BCE
4. Air Canada

✅ Correct Answer: 2