OMTEX CLASSES: Forms of Business Organizations.

Forms of Business Organizations.

1. A sole proprietorship is the ___________ form of organisation.
(private sector, public sector, none of these two)

2. A sole proprietorship has ___________ owner/owners/
(one, two unlimited)

3. A proprietor has ______________ liability.
(unlimited, limited, restricted)

4. A sole trading concern ensures ______________ business secrecy.
(minimum, maximum, limited)

5. Business organization which is controlled by Hindu Succession Act is known as ______________
(Joint stock company, partnership firm, Joint Hindu Family firm)

6. The members of Hindu Undivided family business are called __________
(Karta, partners, co – parceners)

7. Limited managerial skill is the ___________ of Joint Hindu Family business.
(feature, limitation, advantage)

8. The Karta in Joint Hindu Family Business has ______________ liability.
(unlimited, limited, joint)

9. The Head of Joint Hindu Family business is called as ____________
(Proprietor, Karta, Director)

10. The maximum number of partners for a firm carrying on banking business is _______________
(Ten, Twenty, Seven)

11. Indian Partnership Act was passed in the year ________________
(1932, 1923, 1942)

12. Registration of partnership firm is ______________ in Maharashtra.
(Compulsory, no compulsory, optional)

13. In partnership firm the liability of partners is ____________
(limited, unlimited, none of these)

14. In a partnership firm every partner is the principal as well as the ____________
(agent, karta, partner)

15. At least ________________ Persons are required to form a partnership firm.
(two, one, three)

16. The maximum number of members in a private limited company are __________
(50, 40, 20)

17. The liability of the shareholders in the public limited joint stock company is ______________
(limited, unlimited, collectively)

18. The elected representatives of shareholders are called ______________
(Directors, Members, Owners)

19. A joint stock company is an Artificial person created by _____________
(law, public, directors)

20. Registration of a Joint stock company is _______________
(compulsory, not necessary, optional)

21. The minimum numbers of persons required for the registration of a private company is _________________
(5, 2, 7)

22. The minimum number of Directors in a public company are ______________
(two, three, five)

23. The minimum amount of paid up capital for public company is _______________
(five lakhs, one lakh, ten lakhs)

24. The minimum of members allowed in a co – operative society is ___________
(20, 10, 7)

25. In a co – operative society the principle followed is _______________
(one share one vote, one man one vote, no vote)

26. The co – operative societies Act was passed in the year __________
(1932, 1912, 1956)

27. The Maharashtra State co – operative societies Act was came in force in _____________
(1956, 1960, 1932)

28. While selecting the place of business ________________ is important.
(locality, region, capital)

29. From the point of continuity ___________________ business organizations is the most suitable.

(company, partnership. sole proprietorship)