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Forms of Business Organisations Test - 9

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Forms of Business Organisations Test - 9
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Weekly Quiz Competition
  • Question 1
    1 / -0
    In order for a firm to successfully carry out price discrimination which of the following conditions must hold?
    I. The fine should not face a downward sloping demand curve
    II. The firm must have a market power
    III. Buyers with differing demand must be separable.
    IV. The firm must have motives beyond profit maximization.
    V. The firm must able to prevent the re-sale of its product.
  • Question 2
    1 / -0
    Identify incorrect statement.
  • Question 3
    1 / -0
    Interest on calls in arrears is charged according to Table A of Schedule I to the Companies Act 1956 at the rate of __________.
    Solution
    Interest on calls in arrears is charged according to Table A of Schedule I to the Companies Act 1956 at the rate of 5 % per annum. Interest on call on arrears is the income of the company. Interest on call on arrears is charge on the amount which defaulter shareholders have not paid on the amount called up by company.
  • Question 4
    1 / -0
    If a firm wants to register itself, it will go to __________.
  • Question 5
    1 / -0
    Register of Firm shall be open to inspection by _______________.
  • Question 6
    1 / -0
    Which of the following business enterprises, places the most risk on a single person?
    Solution
    In a sole proprietorship firm, the whole risk is undertaken by a single individual and that person is the sole beneficiary of all the rewards. Likewise, if there are losses, he/she alone has to bear them.
  • Question 7
    1 / -0
    Who appoints the members of the board of directors?
    Solution
    A joint-stock company is owned by the shareholders. These shareholders elect their representatives who are called directors of the company and are members of the board. The directors manage and control the activities of the company by appointing professional experts. 
  • Question 8
    1 / -0
    Who are the true owners of a joint stock company?
    Solution
    A joint-stock company is owned by its shareholders. The capital raised by the issue of equity shares is known as owners' capital or owners' funds, and it represents ownership in a company.
  • Question 9
    1 / -0
    Profits do not have to be shared. The statement refers to ____________.
    Solution
    In a sole proprietorship firm, the whole risk is borne by a single individual only and that person is the sole beneficiary of all the rewards/returns.
  • Question 10
    1 / -0
    What is the name of a document that governs the partnership?
    Solution
    The document containing the terms and conditions that govern a partnership is known as Partnership Deed. It is a stamped paper on which the agreement between the partners is mentioned.
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