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Forms of Business Organisations Test - 14

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Forms of Business Organisations Test - 14
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Weekly Quiz Competition
  • Question 1
    1 / -0
    A Joint Stock Company collects __________ capital.
    Solution
    The joint stock company collects huge capital from public by dividing its capital in a small unit called shares and inviting subscription from general public on these shares. Holding these shares ensures dividend to the shareholders and provides them voting powers in the decision making process of the business.
  • Question 2
    1 / -0
    A Joint Stock Company is managed by __________.
    Solution
    A joint stock company is managed by the board of directors who are elected by the shareholders. All the shareholders are entitled to vote in the decision making process. Board of directors have powers in the management of the business.
  • Question 3
    1 / -0
    A Joint Stock Company is _______ person.
    Solution
    A joint stock company has an independent status i.e. it has a separate legal entity from its members. It has an independent existence in the eyes of law and can also purchase and sell property in its own name.
  • Question 4
    1 / -0
    A Joint Stock Company has independant________. 
    Solution
    A joint stock company has an independent status i.e. it is a separate legal entity from its members. It has an independent existence in the eyes of law and can also purchase and sell property in its own name.
  • Question 5
    1 / -0
     Joint Stock Company enjoys _______status.
    Solution
    A joint stock company has an independent status i.e. it has a separate legal entity from its members. It has an independent existence in the eyes of law and can also purchase and sell property in its own name.
  • Question 6
    1 / -0
    The liability of shareholders in a Joint Stock Company is __________.
    Solution
    The liability of the members in a joint stock company is limited while company itself has unlimited liability since it has its existence in the eyes of law and is considered as an artificial person and members are not required to pay debts from their personal assets.
  • Question 7
    1 / -0
    Membership in Joint Hindu Family business is by ________only.
    Solution
    Yes, it is true that membership in Joint Hindu Family business takes place only by birth. Outsider cannot become the member in the firm and also high managerial positions are always headed by the family members or with the persons having blood relations.
  • Question 8
    1 / -0
    Sole trading concern is owned and managed by________person/persons.
    Solution
    A sole trading business is the oldest and simplest form of business organisation as in this kind of business, there is no chaos in the management as a person is single handedly working for the business and also he is the single receiver of profit earned.
  • Question 9
    1 / -0
    A ___________ is the oldest and simplest form of business organisation.
    Solution
    A sole trading business is the oldest and simplest form of business organisation as in this kind of business, there is no chaos in the management as a person is single handedly working for the business and also he/she is the single receiver of profit earned.
  • Question 10
    1 / -0
    Lions club is the example of ________ . 
    Solution
    Lions club is formed to raise money for charitable purposes and for worthy cause. It comes under Non profit association as club does not focus on earning profit rather its main motto is  "to serve".
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