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Forms of Business Organisations Test - 12

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Forms of Business Organisations Test - 12
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Weekly Quiz Competition
  • Question 1
    1 / -0
    The appropriate sequence of the formation for a company are in the following order:
    Solution
    The whole process of company formation is divided into four stages and that are to be completed simultaneously in the following order i.e. Promotion, Incorporation, Capital Subscription and then commencement of business.
  • Question 2
    1 / -0
    The maximum number of partners allowed in the banking business are ______________.
    Solution
    The maximum number of members that can exist in partnership is 10 in case of a firm carrying on banking business and 20 in case of any other business.
  • Question 3
    1 / -0
    The transfer by a company of one or more of its business divisions to another newly set up company is called _____________.
    Solution
    Demerged is the right answer.
  • Question 4
    1 / -0
    Which of the following is the most democratic form of organisation?
    Solution
    Line organisation is the most democratic form of organisation as the authority flows from top to bottom in concern and also the line of command is carried out from top to bottom. It is the most oldest and simplest form of administrative organisation.
  • Question 5
    1 / -0
    Another name for MATRIX organisation is _____________.
    Solution
    Option C is the correct answer.
  • Question 6
    1 / -0
    If a network of interpersonal relationship that arise when people associate with each other is an informal organization, then find out which of the following is not an informal organization?
    Solution
    Option b is the correct answer.
  • Question 7
    1 / -0
    The Structure in which there is separation of ownership and management is called ______________.
    Solution
    Company is the form of business organisation in which there is a separation of ownership and management. Company has a separate legal entity from its members. Management professionals of the firm are not considered as the owners of the firm.
  • Question 8
    1 / -0
    A partner whose association with the firm is unknown to the general public is called _____________.
    Solution
    Secret partner is the partner of the firm whose association is unknown to the general public but he takes part in the decision making and management of the business firm.
  • Question 9
    1 / -0
    A company comes into existence only after its ____________.
    Solution
    Registered or Incorporated Companies
    These companies are formed/incorporated under the companies act passed by the government. These companies come into existence only after these are registered under the act and the certificate of incorporation is passed by the Registrar of companies.


  • Question 10
    1 / -0
    Balu, Lalu and Kalu are partners in a firm. They admit Malu as a minor partner to the benefit of partnership. Within 6 months of his attaining majority, he fails to give a public notice of his intention that he has become a fullfledged partner. On the other hand all other partners refuse to take him as a partner. In this case, which of the following statement is correct ?
    Solution
    A Minor can be admitted into the partnership with the consent of all the existing for the benefits of a partnership. On attaining majority, the minor must decide within 6 months whether he would like to become a partner in the firm and give public notice of his decision if he remains silent and fails to give public notice, it will be implied that he has elected to be a partner in the firm.
    Hence option (B) is the correct answer.
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