Steps involved in Establishing Business Test 7

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Steps involved in Establishing Business Test 7

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Weekly Quiz Competition

Question 1
1 / -0

Which of the following is the most democratic form of organisation?

A
Line

B
Line and Staff

C
Functional

D
Committee

Solution

Line organisation is the most democratic form of organisation as the authority flows from top to bottom in concern and also the line of command is carried out from top to bottom. It is the most oldest and simplest form of administrative organisation.
Question 2
1 / -0

Another name for MATRIX organisation is _____________.

A
Flexible organisation

B
Geographic organisation

C
Project organisation

D
None of the above

Solution

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

If a network of interpersonal relationship that arise when people associate with each other is an informal organization, then find out which of the following is not an informal organization?

A
The "machine shop" group

B
Customers' group

C
The "sixth floor" group

D
The "Friday evening bowling" gang

Solution

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

The organisation, which is owned and managed by one person is a ________________.

A
Sole proprietorship

B
Joint stock company

C
Government company

D
All of these

Solution

In sole proprietorship, whole organisation is owned and managed by the single person, who is the owner of organisation. He is the sole bearer of all risks and profits associated with the business.
Question 5
1 / -0

Sole trading concern is owned and managed by________person/persons.

A
one

B
two

C
five

D
six

Solution

A sole trading business is the oldest and simplest form of business organisation as in this kind of business, there is no chaos in the management as a person is single handedly working for the business and also he is the single receiver of profit earned.
Question 6
1 / -0

A ___________ is the oldest and simplest form of business organisation.

A
Partnership Firm

B
Sole Trading Concern

C
Joint Stock Company

D
None of these

Solution

A sole trading business is the oldest and simplest form of business organisation as in this kind of business, there is no chaos in the management as a person is single handedly working for the business and also he/she is the single receiver of profit earned.
Question 7
1 / -0

Lions club is the example of ________ .

A
Non-profit Association

B
Co-operative Society

C
Joint Stock Company

D
None of these

Solution

Lions club is formed to raise money for charitable purposes and for worthy cause. It comes under Non profit association as club does not focus on earning profit rather its main motto is "to serve".
Question 8
1 / -0

Which of these rights are available to a partner under the Partnership Act ________.

A
Overtime and conveyance charges for attending firms business

B
To open bank A/c in his name on behalf of the firm

C
Right to share profits

D
Right to transfer his share outside the firm without consent of other partner

Solution

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

Which of these rights are available to a transferee under the Partnership Act.

A
To inspect books of account

B
To interfere in firms day to day business

C
To transfer immovable property of the firm

D
To receive share of assets to which the transferor entitled at the time of dissolution of the firm

Solution

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

In order to not to bind the firm for all the acts done by a partner within the implied authority which has been restricted by mutual agreement between the partners, the firm need to establish that........

A
The plaintiff knew such restrictions

B
Did not know that the partner is the partner of the firm

C
Either A or B

D
Both

Solution

Option C is the correct answer.

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Re-Attempt Weekly Quiz Competition

Steps involved in Establishing Business Test 7

Result

Steps involved in Establishing Business Test 7

Score

-

Rank

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SHARING IS CARING

Question 1

Line

Line and Staff

Functional

Committee

Solution

Question 2

Flexible organisation

Geographic organisation

Project organisation

None of the above

Solution

Question 3

The "machine shop" group

Customers' group

The "sixth floor" group

The "Friday evening bowling" gang

Solution

Question 4

Sole proprietorship

Joint stock company

Government company

All of these

Solution

Question 5

one

two

five

six

Solution

Question 6

Partnership Firm

Sole Trading Concern

Joint Stock Company

None of these

Solution

Question 7

Non-profit Association

Co-operative Society

Joint Stock Company

None of these

Solution

Question 8

Overtime and conveyance charges for attending firms business

To open bank A/c in his name on behalf of the firm

Right to share profits

Right to transfer his share outside the firm without consent of other partner

Solution

Question 9

To inspect books of account

To interfere in firms day to day business

To transfer immovable property of the firm

To receive share of assets to which the transferor entitled at the time of dissolution of the firm

Solution

Question 10

The plaintiff knew such restrictions

Did not know that the partner is the partner of the firm

Either A or B

Both

Solution

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