Forms of Business – Quick Quiz

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Test your knowledge on business forms.

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VIVAN BALHARA

India

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Forms of Business – Quick Quiz


Forms of Business – Quick QuizVersion en ligne Test your knowledge on business forms. par VIVAN BALHARA 1 Which form of business is owned, managed, and controlled by one person? a Cooperative society b Joint Hindu Family c Partnership d Sole proprietorship 2 Liability of a sole proprietor is: a Zero b Unlimited c Shared d Limited 3 Who heads a Joint Hindu Family business? a Partner b Karta c Chairman d Proprietor 4 True or False: In a Joint Hindu Family business, all members have unlimited liability. a Not specified b Partly true c False d True 5 Which Act governs partnerships in India? a Companies Act, 2013 b Indian Partnership Act, 1932 c Cooperative Societies Act, 1912 d Hindu Succession Act, 2005 6 “One man one vote” applies to: a Private company b Cooperative society c Partnership d Sole proprietorship 7 Which of these is NOT a type of partner? a Minor partner b Nominal partner c Secret partner d Active partner 8 In a company, members’ liability is limited to: a All personal property b Twice their investment c No liability d The unpaid amount on shares 9 True or False: A public company can restrict the transfer of its shares. a True b False 10 Minimum number of members to form a public company: a 7 b 50 c 10 d 2 11 Fill in the blank: Membership in a Joint Hindu Family business is by ________. a Citizenship b Birth c Residency d Marriage 12 Which form is best for raising large capital? a Joint stock company b Partnership c Sole proprietorship d Cooperative society 13 A partnership formed for a single project is called: a General partnership b Partnership at will c Limited partnership d Particular partnership 14 Which form is least expensive to start? a Company b Partnership c Cooperative society d Sole proprietorship 15 True or False: In a cooperative society, profits are distributed as per capital invested only. a True b False 16 Which form provides the greatest managerial specialisation? a Joint Hindu Family b Partnership c Company d Sole proprietorship 17 Fill in the blank: In a partnership, the business must be carried on with a motive of ________. a Profit b Non-profit c Gain without effort d Charity 18 Which form has a separate legal personality? a Partnership b Sole proprietorship c Company d Joint Hindu Family 19 Which form usually has perpetual existence? a Sole proprietorship b Company c Joint Hindu Family d Partnerhip 20 Which form is most suitable for family-owned businesses with passive investments? a Partnership b Joint Hindu Family c Company d Cooperative society

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Forms of Business – Quick Quiz

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Créé par

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Forms of Business – Quick QuizVersion en ligne

par VIVAN BALHARA

Which form of business is owned, managed, and controlled by one person?

Liability of a sole proprietor is:

Who heads a Joint Hindu Family business?

True or False: In a Joint Hindu Family business, all members have unlimited liability.

Which Act governs partnerships in India?

“One man one vote” applies to:

Which of these is NOT a type of partner?

In a company, members’ liability is limited to:

True or False: A public company can restrict the transfer of its shares.

Minimum number of members to form a public company:

Fill in the blank: Membership in a Joint Hindu Family business is by ________.

Which form is best for raising large capital?

A partnership formed for a single project is called:

Which form is least expensive to start?

True or False: In a cooperative society, profits are distributed as per capital invested only.

Which form provides the greatest managerial specialisation?

Fill in the blank: In a partnership, the business must be carried on with a motive of ________.

Which form has a separate legal personality?

Which form usually has perpetual existence?

Which form is most suitable for family-owned businesses with passive investments?