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Business Organisation Types

Comprehensive quiz on various forms of business organisations including sole proprietorship, partnership, companies, co-operative societies, and their characteristics, legal requirements, and governance structures

15 Questions Published
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Questions

Question 1 Multiple Choice (Single Answer)

Which of the following is not the feature of sole proprietorship?

  1. Single ownership
  2. One man control
  3. Whole profit to proprietor
  4. Non-flexibility
  5. Easy to setup
Question 2 Multiple Choice (Single Answer)

Which of the following is an advantage for a sole trading concern?

  1. Small capital
  2. Hasty decision
  3. Limited capital
  4. Limited managerial ability
  5. Functional Definition
Question 3 Multiple Choice (Single Answer)

Partnership may come into existence by ______________________.

  1. the operation of law
  2. an express agreement
  3. an express or implied agreement
  4. inheritance of property
  5. mutual understanding
Question 4 Multiple Choice (Single Answer)

Which type of organization gives membership by birth?

  1. Sole proprietorship
  2. Company
  3. Partnership
  4. Co- operative society
  5. Hindu Undivided Family
Question 5 Multiple Choice (Single Answer)

Which of the following type of organisation enjoys the advantage of limited liability?

  1. Sole trader
  2. Partnership
  3. Company
  4. Hindu undivided family
  5. Franchisee
Question 6 Multiple Choice (Single Answer)

What is the maximum limit for number of members in a private company?

  1. 2
  2. 50
  3. 100
  4. 200
  5. Unlimited
Question 7 Multiple Choice (Single Answer)

Government Companies are registered under which of the following?

  1. A special statute of Government
  2. The Companies Act
  3. A royal charter
  4. The order of the Government
  5. Parliament Act
Question 8 Multiple Choice (Single Answer)

Which of the following is a separate legal entity?

  1. Sole proprietorship
  2. Hindu undivided family
  3. Partnership
  4. Company
  5. Trust
Question 9 Multiple Choice (Single Answer)

When the Government takes over an existing private concern it is called ___________________________.

  1. privatisation
  2. nationalisation
  3. globalisation
  4. liberalisation
  5. departmentalisation
Question 10 Multiple Choice (Single Answer)

Transferability of interest is at will in which of the following types of organisation?

  1. Sole trading concern
  2. Partnership
  3. Private limited company
  4. Limited Liability Parternship(LLP)
  5. Cooperative society
Question 11 Multiple Choice (Single Answer)

On what basis is dividend declared in a co-operative store to its members?

  1. Share capital
  2. Number of shares purchased
  3. Amount of patronage given
  4. Amount of paid up capital
  5. Equally to all members
Question 12 Multiple Choice (Single Answer)

Management of a Company is entrusted to ____________________.

  1. the Registrar of Companies
  2. the Board of Directors
  3. the shareholder
  4. the debenture holders
  5. the Central Government
Question 13 Multiple Choice (Single Answer)

The share capital of the government company must not be less than ____________.

  1. 51%
  2. 60%
  3. 75%
  4. 80%
  5. 90%
Question 14 Multiple Choice (Single Answer)

Which type of an organisation follows 'one man one vote' principle?

  1. Hindu Undivided Family
  2. Partnership
  3. Company
  4. Co-operative society
  5. Sole trading concern
Question 15 Multiple Choice (Single Answer)

Which of the following types of organisations need compulsory registration?

  1. Sole trader
  2. Partnership
  3. Company
  4. Hindu Undivided Family
  5. Joint venture
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