Forms of Business Organisations Test

Result

Forms of Business Organisations Test - 40

Score
-
out of -
Rank
-
out of -

TIME Taken - -

SHARING IS CARING

If our Website helped you a little, then kindly spread our voice using Social Networks. Spread our word to your readers, friends, teachers, students & all those close ones who deserve to know what you know now.

Weekly Quiz Competition

Question 1
1 / -0

A form of licensing in which a firm provides its foreign franchisee with a complete assortment of materials and services is known as _________.

A
Repatriation

B
Licensing

C
Franchising

D
International management
Question 2
1 / -0

The form of business organisation in which there is separation of ownership and management is called _______.

A
sole partnership

B
partnership

C
company

D
all these

Solution

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

The amount received by a partnership firm from the insurance company on the maturity of a Joint Life Policy taken by the firm will be distributed amongst the partner ___________.

A
equally

B
in the profit sharing ratio

C
in the ratio of capital balances at the beginning of the year

D
in the ration of capital balances at the end of the accounting year.

Solution

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

Which of the following enjoys separate legal entity status?

A
Partnership Firms

B
LLP

C
Company

D
Both b and c

Solution

Separate Legal Entity:
A company and LLP becomes a separate legal entity as compared to its members and partners. The company and LLP is distinct and different from its members and partners in law. It has its own seal and its own name, its assets and liabilities are separate and distinct from those of its members. It is capable of owning property, incurring debt, and borrowing money, employing people, having a bank account, entering into contracts and suing and being sued separately.
Question 5
1 / -0

The _________ is responsible for doing all acts, matters and things as are required to be done by LLP as per the Act.

A
Designated Partner

B
Active Partner

C
Designated Director

D
All the partners
Question 6
1 / -0

A Model Form of Articles contained in Table "F" relates to a Company Limited by ________________.

A
Shares

B
Guarantee,

C
Shares and Guarantee

D
None of the above.
Question 7
1 / -0

The maximum number of partners in partnership firm is determined by__________.

A
Companies Act

B
Partnership Act

C
Limitation Act

D
None of the above

Solution

Option A is the correct answer.
Question 8
1 / -0

Each Partner in a firm is in the position of ________.

A
only agent

B
only principal

C
agent as well as principal

D
neither agent nor principal.

Solution

Option C is the correct answer.
Question 9
1 / -0

M, is employed by PQR Bros., a Partnership Firm. M is entitled to remuneration of Rs. 40,000 p.m. plus 12% on the Profits of the Firm, if profits exceed Rs.10 Lakhs. Here ___________.

A
M is not deemed as a Partner in the Firm

B
M is deemed as a Partner in the Firm

C
the appointment of M is invalid

D
M can claim only Rs. 40,000 p.m. but not share of profits.

Solution

Option A is the correct answer.
Question 10
1 / -0

When no ratio of sharing of profits and losses are given, then profit and losses is shared ________.

A
equally

B
in capital ratio

C
4:1

D
none

Solution

Option A is the correct answer.

User

Question Analysis

Correct -
Wrong -
Skipped -

My Perfomance

Score
-
out of -
Rank
-
out of -

Re-Attempt Weekly Quiz Competition

Forms of Business Organisations Test - 40

Result

Forms of Business Organisations Test - 40

Score

-

Rank

-

SHARING IS CARING

Question 1

Repatriation

Licensing

Franchising

International management

Question 2

sole partnership

partnership

company

all these

Solution

Question 3

equally

in the profit sharing ratio

in the ratio of capital balances at the beginning of the year

in the ration of capital balances at the end of the accounting year.

Solution

Question 4

Partnership Firms

LLP

Company

Both b and c

Solution

Question 5

Designated Partner

Active Partner

Designated Director

All the partners

Question 6

Shares

Guarantee,

Shares and Guarantee

None of the above.

Question 7

Companies Act

Partnership Act

Limitation Act

None of the above

Solution

Question 8

only agent

only principal

agent as well as principal

neither agent nor principal.

Solution

Question 9

M is not deemed as a Partner in the Firm

M is deemed as a Partner in the Firm

the appointment of M is invalid

M can claim only Rs. 40,000 p.m. but not share of profits.

Solution

Question 10

equally

in capital ratio

4:1

none

Solution

User

Question Analysis

My Perfomance

Score

-

Rank

-

Results Announcement on: coming Monday

Stay Tuned: We’ll update you on your result via email or SMS.