Forms of Business Organisations Test

Result

Forms of Business Organisations Test - 7

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Weekly Quiz Competition

Question 1
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 the Partners or their agents,

C
all Working Partners or their agents.

D
all the Partners or their agents.
Question 2
1 / -0

Any Statement, Intimation or Notice recorded or noted in the Register of Firms shall, as against any person be __________ of any fact therein stated.

A
prima facie proof

B
collaborative proof

C
inclusive proof

D
conclusive proof.
Question 3
1 / -0

Persons who have entered into partnership with one another are collectively called ____________.

A
Firm

B
Co-owner

C
Firm name

D
Partner
Question 4
1 / -0

If a firm wants to register itself, if will go to ___________.

A
registrar of firms

B
registrar of companies

C
court

D
any of these
Question 5
1 / -0

Loss arising out of Partners' insolvency shall be made up by ___________.

A
that Partners' estate

B
that Partners' Legal Heirs

C
the Firm itself

D
the Solvent Partners.
Question 6
1 / -0

Which of the following does not require public notice in case of a Registered Firm?

A
Admission of a Partner

B
Retirement of a Partner

C
Expulsion of a Partner

D
Dissolution of the Firm.
Question 7
1 / -0

Reconstitute of firm takes place expect in case of _________.

A
admission of partner

B
retirement of partner

C
change in profit sharing ratio

D
insolvency of partner
Question 8
1 / -0

Mission and Vision statements are NOT commonly used to__________.

A
Guide management's thinking on strategic issues, especially during times of significant change

B
Create wider linkages with customers suppliers and alliance partners

C
Help establish a framework for ethical behaviour

D
Inspire employees to work more productively by providing focus and common goals
Question 9
1 / -0

The liability of each number of the HUF business is _________.

A
Limited to the extent of share of KARTA

B
Limited to the extent of his share in the business

C
Unlimited

D
Limited to the extent as may be determined by relatives
Question 10
1 / -0

Which of the following can be treated as advantage of HUF form of business?

A
A HUF business is not affected by the insolvency or death of any member including that of karta

B
An inefficient karta can also do harm to the business

C
The continuity of business is always under threat. It may be due to a small rift within the family and if a co-parcener asks for a partition the business is closed

D
Since the karta has absolute freedom to manage the business, there is scope for him to misuse it for his personal gains

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Re-Attempt Weekly Quiz Competition

Forms of Business Organisations Test - 7

Result

Forms of Business Organisations Test - 7

Score

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Rank

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SHARING IS CARING

Question 1

any one Partner or his agent.

majority of the Partners or their agents,

all Working Partners or their agents.

all the Partners or their agents.

Question 2

prima facie proof

collaborative proof

inclusive proof

conclusive proof.

Question 3

Firm

Co-owner

Firm name

Partner

Question 4

registrar of firms

registrar of companies

court

any of these

Question 5

that Partners' estate

that Partners' Legal Heirs

the Firm itself

the Solvent Partners.

Question 6

Admission of a Partner

Retirement of a Partner

Expulsion of a Partner

Dissolution of the Firm.

Question 7

admission of partner

retirement of partner

change in profit sharing ratio

insolvency of partner

Question 8

Guide management's thinking on strategic issues, especially during times of significant change

Create wider linkages with customers suppliers and alliance partners

Help establish a framework for ethical behaviour

Inspire employees to work more productively by providing focus and common goals

Question 9

Limited to the extent of share of KARTA

Limited to the extent of his share in the business

Unlimited

Limited to the extent as may be determined by relatives

Question 10

A HUF business is not affected by the insolvency or death of any member including that of karta

An inefficient karta can also do harm to the business

The continuity of business is always under threat. It may be due to a small rift within the family and if a co-parcener asks for a partition the business is closed

Since the karta has absolute freedom to manage the business, there is scope for him to misuse it for his personal gains

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