MCQExams
0:0:1
CBSE
JEE
NTSE
NEET
Practice
Homework
×
CBSE Questions for Class 11 Commerce Business Studies Forms Of Business Organisation Quiz 2 - MCQExams.com
CBSE
Class 11 Commerce Business Studies
Forms Of Business Organisation
Quiz 2
When a Partner is expelled otherwise than in good faith, it is ______.
Report Question
0%
generally valid
0%
valid vis-a-vis third parties
0%
in restraint of trade
0%
null and void.
Following persons can not be called partners ____________________.
Report Question
0%
Minors
0%
Insolvents
0%
Co-owners without the agreement to carry in the business
0%
All of the above
Which one of the following can not be claimed as a matter of right by a partner?
Report Question
0%
To have access to books of account
0%
To take part in the conduct of the business
0%
To share the profits
0%
To receive remuneration
At the time when a new partner enters, goodwill __________________.
Report Question
0%
belongs all partners, new and old
0%
belongs only to the new partner who is going to be admitted
0%
belongs only to the old partner who have credited it
0%
none of the above
Application for rectification of mistake in the documents or the Register of Firms shall be made by _________.
Report Question
0%
any one Partner or his agent.
0%
majority of the Partners or their agents,
0%
all Working Partners or their agents.
0%
all the Partners or their agents.
Any Statement, Intimation or Notice recorded or noted in the Register of Firms shall, as against any person be __________ of any fact therein stated.
Report Question
0%
prima facie proof
0%
collaborative proof
0%
inclusive proof
0%
conclusive proof.
Which of the following purpose is permissible in a partnership?
Report Question
0%
Business purpose
0%
Social purpose
0%
Religious purpose
0%
Charitable purpose
Persons who have entered into partnership with one another are collectively called ____________.
Report Question
0%
Firm
0%
Co-owner
0%
Firm name
0%
Partner
A sub-partner is a person ____________.
Report Question
0%
who is sharing the profits of some partner
0%
who does not invest and shares the profits
0%
who invests but does not work
0%
who only gives his name for partnership
The income of cooperative society is legally ____________ as per the Income tax Act, 1961.
Report Question
0%
Not taxable
0%
Taxable
0%
Totally exempt
0%
Taxable if State Government pass order
Loss arising out of Partners' insolvency shall be made up by ___________.
Report Question
0%
that Partners' estate
0%
that Partners' Legal Heirs
0%
the Firm itself
0%
the Solvent Partners.
Where the continuing partners carry on the business of the firm, the outgoing partner whose claim is not settled.
X. is entitled to share of profits since date of cessation as partner.
Y. is not entitled to claim anything other than unsettled amount
Z. is entitled to $$6\%$$ interest p.a. on the unsettled amount.
Select the correct answer from the options given.
Report Question
0%
Y is correct
0%
Only X is correct
0%
Only Z is correct
0%
Either X or Z at his option
Which of the following can be treated as advantage of HUF form of business?
I. The liability of the co-parceners is limited, except for that of karta which makes the karta to manage the business in the most efficient manner.
II. A HUF business is not affected by the insolvency or death of any member including that of karta.
Select the correct answer from the options given below:
Report Question
0%
I only
0%
II only
0%
Both I and II
0%
Neither I nor II
Which of the following is not required to be given in an application for registration of a Firm?
Report Question
0%
Firm name
0%
Place of business or principal place of business
0%
Names of any other places where the firm carries on business
0%
Details of capital contribution of partners
As per _____ of the Companies Act, 2013 "company" means a company incorporated under Companies Act, 2013 or under any previous company law.
Report Question
0%
Section 2(3)
0%
Section 2(20)
0%
Section 2(12)
0%
Section 2)25)
Each member of firm is individually known as ________________.
Report Question
0%
Partner
0%
Co-parceneres
0%
Managers
0%
Director
Register of Firm shall be open to inspection by _______________.
Report Question
0%
The Registrar of Firms
0%
Partners of Firm
0%
Creditor of the Firm
0%
Any person
In which of the following case there is no bar on the right of unregistered firm or any partner of its partner?
Report Question
0%
A suit for the dissolution of a firm
0%
A suit for rendering of accounts of a dissolved firm
0%
A suit for realization of the property of a dissolved firm
0%
All of the above
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.
Report Question
0%
I, III & V only
0%
III & IV only
0%
l & IV only
0%
II, III & V only
Identify incorrect statement.
Report Question
0%
Companies at all stages of development need to prepare business plan
0%
Business plan should emphasize people not ideas or concepts
0%
Business plan must be concise and well written
0%
None of the above
If a firm wants to register itself, it will go to __________.
Report Question
0%
Registrar of Firms
0%
Registrar of Companies
0%
Court
0%
Any of the above
___________ must have atleast 10 adults as members and does not have any maximum limit on the number of members.
Report Question
0%
Cooperative Society
0%
Joint Hindu Family
0%
Partnership
0%
Company
Explanation
A minimum of 10 persons (adults) is required to form a cooperative society. It does not have any limit on the maximum number of members. The registration of a cooperative society is compulsory and the capital is contributed by its members in the form of share capital.
Which of the
following
business enterprises, places
the most
risk
on a single
person?
Report Question
0%
Joint Hindu family
0%
Cooperative society
0%
Partnership
0%
Sole proprietor
Explanation
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.
Who appoints
the
members
of
the
board
of
directors?
Report Question
0%
Employees
0%
Debenture holders
0%
Government
0%
Shareholders
Explanation
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.
Who
are
the
true
owners
of a joint stock company
?
Report Question
0%
Employees
0%
Debenture holders
0%
Shareholders
0%
Creditors
Explanation
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.
In which of the following business organisations, minor can also be a member?
Report Question
0%
Joint Stock Company
0%
Cooperative Society
0%
Joint Hindu Family business
0%
Sole Proprietorship
Explanation
In a joint hindu family business, a child becomes a member by birth in the hindu undivided family. So, there is no restriction for a minor to become a member of such a business.
______________ is not a limitation of a sole proprietorship.
Report Question
0%
Limited resources
0%
Limited life of Business
0%
Easy formation
0%
Limited managerial skill
Explanation
There are minimum formalities required for the commencement and winding up of a sole proprietorship firm. There is no separate law governing it. Therefore, easy formation is not a limitation.
Profits do not have to be shared. The statement refers to ____________.
Report Question
0%
Partnership
0%
Joint Hindu Family Business
0%
Sole Proprietorship
0%
Company
Explanation
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.
The life of sole proprietorship business is _________.
Report Question
0%
Uncertain
0%
Very short life
0%
Long life
0%
Certain
Explanation
The survival and continuity of sole proprietorship firm depend upon one person only. If the proprietor falls ill or becomes insolvent then the business may come to an end.
What is the name of a document that governs the partnership?
Report Question
0%
Prospectus
0%
Article of Association
0%
Memorandum of Association
0%
Partnership Deed
Explanation
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.
Name the Head of Joint Hindu Family Business.
Report Question
0%
Karta
0%
Minor partner
0%
Shareholder
0%
Coparceners
Explanation
The Joint Hindu Family Business is managed and controlled by the senior-most member of the family, who is the called Karta. Every other member of such business is known as a co-parcener.
In a cooperative society, the power to take decisions lies with ___________.
Report Question
0%
Elected Managing Committee
0%
Karta
0%
Board of directors
0%
Members
Explanation
The decisions relating to the business of the co-operative society is taken by the Elected Managing Committee. This committee is elected by the members of the society.
Which form of business organisation is popular and appropriate for small businesses?
Report Question
0%
Joint Hindu Family Business
0%
Partnership
0%
Sole proprietorship
0%
Cooperative Society
Explanation
A sole proprietorship is a suitable form of business organization for small-scale enterprises. It is suitable for enterprises that require personal attention and limited capital like local grocery shops.
A cooperative society is required to be registered under the Cooperative Societies Act __________.
Report Question
0%
2013
0%
1956
0%
1932
0%
1912
Explanation
Cooperative societies are the oldest form of business organization. The registration of a cooperative society is compulsory under the Cooperative Societies Act, 1912.
The act which governs the formation of a partnership business is the Indian Partnership Act _________.
Report Question
0%
1932
0%
1956
0%
1949
0%
1912
Explanation
The partnership form of business is governed by the Indian Partnership Act, 1932. A partnership comes into existence by a legal agreement between the partners called a Partnership Deed.
Who undertakes the management and control of the affairs of the company on behalf of owners?
Report Question
0%
Board of directors
0%
Departmental heads
0%
Managing Director
0%
Vice President
Explanation
The company form of business is owned by the shareholders. These shareholders elect their representatives who are called the directors of the company. These directors are collectively called the Board of Directors. The board manages and controls the activities of the company by appointing professional experts.
The first co-operative society started in Karnataka was at _____.
Report Question
0%
Kanaginahal in present Gadag
0%
Kengeri near Bangalore
0%
Belgaum
0%
Bangalore
Explanation
Kanaginahal village of Gadag District in
Karnataka
was the
first cooperative Society
formed under
First Cooperative
law of India.
Named by
Agricultural Credit
Cooperative Society
In 1919 the co-operative societies were included in the ____ .
Report Question
0%
Union List
0%
Co-operative List
0%
Concurrent List
0%
State List
Explanation
In 1919 there was Administrative Reforms and Cooperatives were made a provincial (state) subject making each province (state) responsible for Cooperative movement and development.
The Co-operative Movement was started in India in ____.
Report Question
0%
1919
0%
1904
0%
1905
0%
1951
Explanation
The British government establish credit cooperative societies in the villages. The first Cooperative Credit Societies Act was passed in 1904.
Which organisation is known as scalar or military organisation?
Report Question
0%
Matrix organisation
0%
Project organisation
0%
Line organisation
0%
Committee organisation
Explanation
Line organisation is known as military or scalar organisation as the authority in line organisation flows directly and vertically from the top level to middle level and then finally reach to lower level of management. The authority, responsibility and accountability are clearly defined in line organisation.
Functional organisation is suitable for _____.
Report Question
0%
small concerns
0%
large concerns
0%
medium-sized concerns
0%
both (b) and (c)
Explanation
Functional organisation is suitable for large and medium sized concerns because there is a grouping of the activities of an organisation into certain major functional departments like IT, finance or marketing. Under functional organisation, various specialists are for various functions performed in an organisation.
The oldest form of organisation is ______.
Report Question
0%
functional
0%
line
0%
line and taff
0%
none of the above
Explanation
Line organisation is the oldest form of an organisation. It is the simplest form of organisation as it is very simple to understand and simple to operate. The personnel in line organisation is involved directly towards the achievement of organisational goals.
Line organisation is suitable for _______.
Report Question
0%
small businesses
0%
large businesses
0%
medium businesses
0%
all of the above
Explanation
Line organisation is suitable for small concerns as it provides for greater control and discipline in the organisation. Rapid decision making is possible in line organisation as communication is very fast and easy and feedback can be acted upon faster making effective coordination possible.
The main advantage of functional organization is _________.
Report Question
0%
simplicity
0%
specialisation
0%
experience
0%
authority
Explanation
The functional organisation refers to the organisation formed by grouping of jobs of similar nature under major functions and organising these functions as separate departments such as human resource, finance etc, and it leads to simplicity in the working process.
The structure of an organisation in which there is separation of ownership and management is called ________.
Report Question
0%
sole proprietorship
0%
partnership
0%
company
0%
cooperative society
Explanation
Company is a form of business organisation in which there is a separation of ownership and management. Company as a legal person has a separate entity different from its members and is managed by the Board of Directors elected by the shareholders.
The board of directors of a joint stock company is elected by the _______________.
Report Question
0%
General Public
0%
Government Bodies
0%
Shareholders
0%
Employees
Explanation
The board of directors of a joint stock company are elected by the Shareholders. Every shareholder is entitled to vote without considering the number of shares held by him/her. It leads to the democratic election of directors.
The appropriate sequence of the formation for a company are in the following order:
Report Question
0%
Promotion, commencement of business and incorporation
0%
Promotion, incorporation, capital subscription and commencement of business
0%
Capital subscription, promotion, incorporation and commencement of business
0%
Incorporation, capital subscription, commencement of business and promotion
Explanation
The whole process of company formation is divided into four stages and that are to be completed simultaneously in the following order i.e. Promotion, Incorporation, Capital Subscription and then commencement of business.
The maximum number of partners allowed in the banking business are ______________.
Report Question
0%
Twenty
0%
Ten
0%
No limit
0%
Two
Explanation
The maximum number
of members that can exist in
partnership
is 10 in case of a firm carrying on
banking business
and 20 in case of any other
business
.
The transfer by a company of one or more of its business divisions to another newly set up company is called _____________.
Report Question
0%
Demerged
0%
Merger
0%
Equity Carve-out
0%
Disinvestment
Explanation
Demerged is the right answer.
Which of the following is the most democratic form of organisation?
Report Question
0%
Line
0%
Line and Staff
0%
Functional
0%
Committee
Explanation
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.
0:0:1
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
0
Answered
0
Not Answered
0
Not Visited
Correct : 0
Incorrect : 0
Report Question
×
What's an issue?
Question is wrong
Answer is wrong
Other Reason
Want to elaborate a bit more? (optional)
Practice Class 11 Commerce Business Studies Quiz Questions and Answers
<
>
Support mcqexams.com by disabling your adblocker.
×
Please disable the adBlock and continue.
Thank you.
Reload page
