Forms of Business Organisations Test

Result

Forms of Business Organisations Test - 53

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Weekly Quiz Competition

Question 1
1 / -0

If two or more persons have made a joint promise, they are known as.

A
Joint venturer

B
Joint promisee

C
Joint partners

D
Joint promisor

Solution

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

Which of the following is/are disabilities of unregistered firm?

A
No suit between partners and firm

B
No suit by firm on a third party

C
No claim of set-off

D
All of the above
Question 3
1 / -0

Handloom Societies like APPCO, Bayanika, Haryana Handloom, etc., are examples of ____________.

A
Producers Co-operative Societies

B
Co-operative Marketing Societies

C
Co-operative Credit Societies

D
Consumers Co-operative Societies
Question 4
1 / -0

Which of the following statement is not correct in relation to 'Franchise'?

A
Franchising is the practice of using another firm's successful business model.

B
It is the business relationship between two organizations where a franchiser, who is the owner of a brand name, product, or system of a business, permits a franchisee to use its brand, product, or business process for a fee,

C
The franchisor provides training and continuous assistance to the franchisee.

D
Franchiser shares all business and trade secrete with franchisee

Solution

Option D is the right answer.
Question 5
1 / -0

Application for rectification of mistake in the documents or the Register of firms shall be made by _________________.

A
Any one partner or his agent

B
Majority of partners or their agent

C
All working partner or their agents

D
All the partners or their agents
Question 6
1 / -0

Sole traders operate mostly on a small-scale basis and their number is large. Identify the particular advantages.

A
Ease of formation and closure

B
Secrecy of information

C
Social utility

D
All of the above

Solution

Sole traders operate mostly on a small-scale basis and their number is large. Social utility is one of the advantages of sole proprietorship or sole trader. Sole trader can be referred as the single individual who takes all initiatives and run the business. 'Sole' means singe and 'proprietorship' means ownership. The business organization in which the single owner owns, manages and controls all the activities of the business is known as sole proprietorship form of business organization.
Question 7
1 / -0

Which of the following is/are features of KARTA in HUF form of business?

A
Karta is the eldest male member of the family.

B
Karta is the custodian of the income and assets of the HUF.

C
Karta is to manage the HUF property.

D
All of above

Solution

The affairs of business are managed by the head of the family, who is known as the Karta. In the entire Hindu joint family, the karta occupies a very important position. Karta is the eldest member of the family. Only a coparcener can become Karta. Features of Karta in HUF form of business are:a) Karta is the eldest male member of the family. b) Karta is the custodian of the income and assets of the HUF.c) Karta is to manage the HUF property.
Question 8
1 / -0

No stranger can ever be qualified to be a karta, but an adopted son who is the eldest in the family can be qualified.

A
False

B
True

C
Partly true

D
None of above

Solution

No stranger can ever be qualified to be a karta, but an adopted son who is the eldest in the family can be qualified- this is a true statement. The affairs of business are managed by the head of the family, who is known as the Karta. In the entire Hindu joint family, the karta occupies a very important position. Karta is the eldest member of the family. Only a coparcener can become Karta.
Question 9
1 / -0

The fate of sole proprietorship is connected to the sole proprietor. What does this convey about the sole proprietorship?

A
Unlimited liability

B
Uncertain life

C
Limited managerial ability

D
Lack of economies of scale

Solution

The fate of sole proprietorship is connected to the sole proprietor. This conveys about uncertain life about the sole proprietorship. In sole proprietorship type of business the single individual takes all initiatives and run the business. 'Sole' means singe and 'proprietorship' means ownership. The business organization in which the single owner owns, manages and controls all the activities of the business is known as sole proprietorship form of business organization.
Question 10
1 / -0

Matrix organization combines ________________

A
Functional departmentation with line and staff organization

B
Functional departmentation with product or project organization

C
Product or project organization with informal organization

D
informal organization with Functional departmentation

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Re-Attempt Weekly Quiz Competition

Forms of Business Organisations Test - 53

Result

Forms of Business Organisations Test - 53

Score

-

Rank

-

SHARING IS CARING

Question 1

Joint venturer

Joint promisee

Joint partners

Joint promisor

Solution

Question 2

No suit between partners and firm

No suit by firm on a third party

No claim of set-off

All of the above

Question 3

Producers Co-operative Societies

Co-operative Marketing Societies

Co-operative Credit Societies

Consumers Co-operative Societies

Question 4

Franchising is the practice of using another firm's successful business model.

It is the business relationship between two organizations where a franchiser, who is the owner of a brand name, product, or system of a business, permits a franchisee to use its brand, product, or business process for a fee,

The franchisor provides training and continuous assistance to the franchisee.

Franchiser shares all business and trade secrete with franchisee

Solution

Question 5

Any one partner or his agent

Majority of partners or their agent

All working partner or their agents

All the partners or their agents

Question 6

Ease of formation and closure

Secrecy of information

Social utility

All of the above

Solution

Question 7

Karta is the eldest male member of the family.

Karta is the custodian of the income and assets of the HUF.

Karta is to manage the HUF property.

All of above

Solution

Question 8

False

True

Partly true

None of above

Solution

Question 9

Unlimited liability

Uncertain life

Limited managerial ability

Lack of economies of scale

Solution

Question 10

Functional departmentation with line and staff organization

Functional departmentation with product or project organization

Product or project organization with informal organization

informal organization with Functional departmentation

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