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Forms of Business Organisations Test - 1

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Forms of Business Organisations Test - 1
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Weekly Quiz Competition
  • Question 1
    1 / -0

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

    Solution

    Explanation:

    A minimum of 10 adult persons(18 years and above)  are required to form a cooperative society.

     

  • Question 2
    1 / -0

    In case of ___________ Registration is compulsory

    Solution

    Explanation:

    A Compay must be registered under Companies act, 1956.

     

  • Question 3
    1 / -0

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

    Solution

    Explanation:

    According to Sec (3) of Companies Act 2013 the maximum limit of members in Private Co. is 200

     

  • Question 4
    1 / -0

    Hindu Succession Act was passed in _____________

    Solution

    Explanation:

    Joint Hindu Family Business is governed by the provisions of the Hindu Law ( the Hinud Succession Act, 1956).

     

  • Question 5
    1 / -0

    The life of sole proprietorship business is ___________

    Solution

    Explanation:

    in the eyes of the law, owner and the business are considered one and the same.  so, sole proprietorship does not enjoy continuity of life. Illness, death or insolvency of the proprietor affects the business and can lead to its closure.

     

  • Question 6
    1 / -0

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

    Solution

    Explanation:

    Secret Partner contributes capital, takes part in theh management, shares its profits and losses and has unlimited liability towards the creditors.

     

  • Question 7
    1 / -0

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

    Solution

    Explanation:

    Housing cooperative societies help people with limited income to construct houses at reasonale costs.

     

  • Question 8
    1 / -0

    The Head of the joint Hindu family business is called

    Solution

    Explanation:

    the JHF business is managed and controlled by the eldest male member of family known as Karta.

     

  • Question 9
    1 / -0

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

    Solution

    Explanation:

    shares are  the smallest  part of share capital which can be transferred freely from one shareholder to anothher person (except in a private company).

     

  • Question 10
    1 / -0

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

    Solution

    Explanation:

    Since Sole proprietor is the sole owner who is responsible for all the business affairs. If the business is successful, he receives all the business profits as a direct reward for his risk bearing.

     

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