Forms of Business Organisations Test

Result

Forms of Business Organisations Test - 38

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Weekly Quiz Competition

Question 1
1 / -0

All of the following are claimed advantages of joint venture 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 never lead to disagreements

Solution

Option D is the correct answer.
Question 2
1 / -0

An idea of operating as a partnership would include ________________.

A
greater power than a sole trader for decision making

B
being able to raise capital through share issues

C
access to larger amount of initial capital

D
limited liability for all partners

Solution

Option C is the correct answer.
Question 3
1 / -0

An ordinary partnership business can not have ___________________.

A
more than $$50$$ partners.

B
not more than $$20$$ partners.

C
any number of partners.

D
any number than $$2$$partners.

Solution

Option B is the correct answer.
Question 4
1 / -0

Karta in HUF is _______ of his family.

A
owner

B
representative

C
oldest member

D
none of the above

Solution

Karta in HUF is oldest of the family.
Question 5
1 / -0

Increase in the number of working women and the rise in number of family households are examples of _______________.

A
the geographic shifts in population.

B
the changing family.

C
the changing age structure of the population.

D
a better-educated and more white-collar population

Solution

Option B is the correct answer.
Question 6
1 / -0

The term company is defined under which sec of the Act?

A
Sec 3(1)

B
Sec 4 (2)

C
Sec 5 (4)

D
Sec 1(3)

Solution

As per the section 3(1) of the companies act:
(1) In this Act, unless the context otherwise requires, the expressions" company"," existing company"," private company" and" public company" shall, subject to the provisions of sub- section (2), have the meanings specified below:-
(i) " company" means a company formed and registered under this Act or an existing company as defined in clause (ii);
(ii) " existing company" means a company formed and register- ed under any of the previous companies laws.

Now these provisions are dealt by the Companies Act, 2013.
Question 7
1 / -0

New incoming partner pays his share of goodwill in cash, and profit sharing ratio of old partner is changed, Goodwill be distributed among old partners ____________.

A
as their old profit ratio

B
according to new ratio

C
according to sacrifice ratio

D
none of these
Question 8
1 / -0

Mr. Varun is a rich man with ample amount of working capital. He wants to go for a business of chain of $$5$$ star holds. What kind of business organization you will suggest him_________________.

A
company

B
partnership

C
sole Proprietorship

D
trust
Question 9
1 / -0

Mr. X is planning to take a business of manufacturing cheap medicines in India. The most suitable type of organization will be_______________.

A
company

B
corporation

C
partnership

D
society
Question 10
1 / -0

This is UNTRUE about LLP_______________.

A
it has no perpetual existence

B
no requirement of minimum capital

C
easy to wind up

D
less cost of formation

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Re-Attempt Weekly Quiz Competition

Forms of Business Organisations Test - 38

Result

Forms of Business Organisations Test - 38

Score

-

Rank

-

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 never lead to disagreements

Solution

Question 2

greater power than a sole trader for decision making

being able to raise capital through share issues

access to larger amount of initial capital

limited liability for all partners

Solution

Question 3

more than $$50$$ partners.

not more than $$20$$ partners.

any number of partners.

any number than $$2$$partners.

Solution

Question 4

owner

representative

oldest member

none of the above

Solution

Question 5

the geographic shifts in population.

the changing family.

the changing age structure of the population.

a better-educated and more white-collar population

Solution

Question 6

Sec 3(1)

Sec 4 (2)

Sec 5 (4)

Sec 1(3)

Solution

Question 7

as their old profit ratio

according to new ratio

according to sacrifice ratio

none of these

Question 8

company

partnership

sole Proprietorship

trust

Question 9

company

corporation

partnership

society

Question 10

it has no perpetual existence

no requirement of minimum capital

easy to wind up

less cost of formation

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My Perfomance

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