Forms of Business Organisations Test

Result

Forms of Business Organisations Test - 37

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Weekly Quiz Competition

Question 1
1 / -0

Everything is an advantages of joint ventures except __________________.

A
The costs of a new project can be split between the companies involved

B
Manufacturing costs will be divided between the firms in the venture

C
Joint ventures between firms in different countries can create new market opportunities

D
Management of the joint venture will lead to disagreements
Question 2
1 / -0

One of the hardships of a sole proprietorship is that _________________.

A
Capital is limited to owner's savings and bank loans

B
It has to complete too many registration fomalities

C
As they are government owned there is no profit motive

D
More tax is charged on them

Solution

Option A is the correct answer.
One of the hardships of sole proprietorship is that the capital that it can contribute is very limited .Public funds cannot be raised in sole proprietorship.
Question 3
1 / -0

Which form of business organisation has a separate legal entity?

A
Hindu Undivided Family (HUF)

B
Co-operative society

C
Partnership firm

D
Sole proprietorship
Question 4
1 / -0

A, B, C & D are partners A retires, B dies, the status of partnership _____________.

A
Remains unchanged

B
Comes to an end

C
Reconstituted

D
All of the above

Solution

Option B is the correct answer.
Question 5
1 / -0

The most suitable definition of a sole trader form of business organization is ____________________.

A
The business who manufacture only one product.

B
The business is owned by one person.

C
The firm has a single buyer.

D
There is a single seller is the industry.

Solution

Briefly sole proprietorship is the business where there is a single owner and he will be entitled to all the profits and losses of the business.
Question 6
1 / -0

At the time when a new partner enters, Good will _________________________.

A
belongs to all partners, new and old

B
belongs only to the new partner who is going to be admitted.

C
belongs only to the old partner who have credited it

D
none of the above
Question 7
1 / -0

Food co-operation of India is _______________.

A
A joint stock company

B
Company managed by department

C
Company established by special act of parliament or state assembly

D
None of the above

Solution

Food co-operation of India is a joint stock company.
Question 8
1 / -0

For the formation of the contract of sale of goods, there should be ________________.

A
two parties

B
one party

C
more than 2 parties

D
both A & B
Question 9
1 / -0

It is NOT UNCOMMON in partnership firm _______.

A
co-owner can ask for the division of property

B
co-owner can transfer his rights without the consult of others.

C
co-owner has no. lien on property of business

D
all the above

Solution

D is the correct answer.
Question 10
1 / -0

A partner of a trading or non trading firm signs a Negotiable instrument liability incurs in _____________.

A
The name of the firm

B
In the name of partner

C
Both a & b

D
None of the above

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Forms of Business Organisations Test - 37

Result

Forms of Business Organisations Test - 37

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SHARING IS CARING

Question 1

The costs of a new project can be split between the companies involved

Manufacturing costs will be divided between the firms in the venture

Joint ventures between firms in different countries can create new market opportunities

Management of the joint venture will lead to disagreements

Question 2

Capital is limited to owner's savings and bank loans

It has to complete too many registration fomalities

As they are government owned there is no profit motive

More tax is charged on them

Solution

Question 3

Hindu Undivided Family (HUF)

Co-operative society

Partnership firm

Sole proprietorship

Question 4

Remains unchanged

Comes to an end

Reconstituted

All of the above

Solution

Question 5

The business who manufacture only one product.

The business is owned by one person.

The firm has a single buyer.

There is a single seller is the industry.

Solution

Question 6

belongs to all partners, new and old

belongs only to the new partner who is going to be admitted.

belongs only to the old partner who have credited it

none of the above

Question 7

A joint stock company

Company managed by department

Company established by special act of parliament or state assembly

None of the above

Solution

Question 8

two parties

one party

more than 2 parties

both A & B

Question 9

co-owner can ask for the division of property

co-owner can transfer his rights without the consult of others.

co-owner has no. lien on property of business

all the above

Solution

Question 10

The name of the firm

In the name of partner

Both a & b

None of the above

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