Forms of Business Organisations Test

Result

Forms of Business Organisations Test - 42

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Weekly Quiz Competition

Question 1
1 / -0

The Registrar of Firms is appointed by __________.

A
Central Government

B
State Government

C
Central and State Government

D
Chief Justice of India.
Question 2
1 / -0

A Retiring Partner is entitled to Profits of the Firm?

A
Upto $$31^{st}$$ March

B
When last accounts is made up

C
Up to retirement date

D
Not entitled to any Profit.
Question 3
1 / -0

The Register of Firms shall be open to inspection by ____________.

A
the registrar of Firms.

B
partners of the Firm.

C
creditors of the Firm.

D
any person.
Question 4
1 / -0

No public notice is required on the death of a Partner.

A
True

B
Partly True

C
False

D
None of the above.

Solution

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

The business started by a group of persons can be ________.

A
Company

B
Hindu Undivided Family

C
Partnership

D
Any of the above
Question 6
1 / -0

Retiring Partner may be discharged from liability to any third party for acts of Firm done before his retirement by ________.

A
an agreement made with such third party and the Partners of reconstituted Firm

B
implied from the course of dealing between the third party and reconstituted Firm after he had knowledge of the retirement

C
either (a) or (b)

D
both (a) and (b).
Question 7
1 / -0

In case of Partnership at Will, Notice of intention to dissolve the Firm may be served by ___________.

A
sleeping partners only

B
any of the working partners

C
any of the partners

D
majority of the partners.
Question 8
1 / -0

In case of sole proprietorship there is a _______ between _________.

A
Direct link, effort and reward

B
Indirect link; Profit and loss

C
Direct link; Profit and loss

D
Indirect link; effort and reward

Solution

Option A is the correct answer.
In sole proprietorship, there is only person who is entitled to all the profits and losses. Therefore it creates a direct link between efforts and rewards. The scale of profit is dependent upon the efforts put in by owner.
Question 9
1 / -0

Which of the following are the essentials of partnership?

A
Association of two or more persons

B
Agreement/contract

C
Carrying on business

D
All of above

Solution

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

The name under which partnership business is carried on is called _________.

A
Firm name

B
Firm

C
Business name

D
Owners name

User

Question Analysis

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My Perfomance

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Re-Attempt Weekly Quiz Competition

Forms of Business Organisations Test - 42

Result

Forms of Business Organisations Test - 42

Score

-

Rank

-

SHARING IS CARING

Question 1

Central Government

State Government

Central and State Government

Chief Justice of India.

Question 2

Upto $$31^{st}$$ March

When last accounts is made up

Up to retirement date

Not entitled to any Profit.

Question 3

the registrar of Firms.

partners of the Firm.

creditors of the Firm.

any person.

Question 4

True

Partly True

False

None of the above.

Solution

Question 5

Company

Hindu Undivided Family

Partnership

Any of the above

Question 6

an agreement made with such third party and the Partners of reconstituted Firm

implied from the course of dealing between the third party and reconstituted Firm after he had knowledge of the retirement

either (a) or (b)

both (a) and (b).

Question 7

sleeping partners only

any of the working partners

any of the partners

majority of the partners.

Question 8

Direct link, effort and reward

Indirect link; Profit and loss

Direct link; Profit and loss

Indirect link; effort and reward

Solution

Question 9

Association of two or more persons

Agreement/contract

Carrying on business

All of above

Solution

Question 10

Firm name

Firm

Business name

Owners name

User

Question Analysis

My Perfomance

Score

-

Rank

-

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