Tag: joint hindu family business and cooperative society

Questions Related to joint hindu family business and cooperative society

Which of the following are examples of "Producers Co-operative Society"?
(1)   APPCO
(2)  Kendriya Bhandar  
(3)  Apna Bazar 
(4)  Haryana Handloom 
(5)  Gujarat Co-operative Milk Marketing 
       Federation
(6)  Employee's Housing Societies 
The correct answer is :-

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. (1), (2), (3) & (6)

  2. (1), (3) & (5)

  3. (2), (4) & (6)

  4. (1) & (4)

Show answer
Correct Option: D

Kendriya Bhandar is a _______.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. co-operative Credit Society

  2. consumers Co-operative Society

  3. producers Co-operative Society

  4. co-operative Marketing Society

Show answer
Correct Option: D
Explanation:

Co-operative marketing society is basically a trading firm in which all the members of the co-operative marketing form sell their product through society. e.g. Kendriya Bhandar.

Amongst all of the following which statements about co-operative business organizations is true?

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. All co-operative are only for public sector

  2. Profits are shared equally amongst members

  3. They are owned by government

  4. Workers have no say in decision making

Show answer
Correct Option: B

Industries which require huge infrastructure, man power and have influx of capital assets are _________.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. small scale enterprises

  2. public sector enterprises

  3. private sector enterprises

  4. large scale enterprises

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Correct Option: D
Explanation:

Big business involves large-scale corporate-controlled financial or business activities. As a term, it describes activities that run from "huge transactions" to the more general "doing big things.

What is corporate personality?

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. Corporate personality means that the members in general meeting are regarded by the law as a person.

  2. Corporate personality means that the board of directors is regarded by the law as a person.

  3. Corporate personality means that the company as an entity is regarded by the law as a person.

  4. Corporate personality means that all of the companies within a corporate group are regarded by the law as one person.

Show answer
Correct Option: C
Explanation:

Corporate personality is the fact stated by the law that a company is recognized as a legal entity distinct from its members. A company with such personality is an independent legal existence separate from its shareholders, directors, officers and creators. This is famously known as the veil of incorporation.

Every company needs company secretary. So in the case of sec 25 companies the same is the case. Do you agree with this statement?

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. Agree

  2. Disagree

  3. Sec. 25 companies are not companies so no need of company secretary

  4. None of the above

Show answer
Correct Option: B
Explanation:

The company secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the board of directors are implemented. Despite the name, the role is not clerical or secretarial.

Company secretary has duties under__________.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. Income tax Act.

  2. Companies Act.

  3. Indian stamp Act.

  4. All of the above.

Show answer
Correct Option: D
Explanation:

The company secretary has to follows the rules and check that the company complies with the law under :

  1. Income tax act
  2. Companies act
  3. Indian stamp act

Which of the following are examples of "Producers Co-operative Society"?
(1) APPCO
(2) Kendriya Bhandar
(3) Apna Bazar
(4) Haryana Handloom
(5) Gujarat Co-operative Milk Marketing Fedration
(6) Employees' Housing Societies
The correct answer is ____________________.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. (1), (2), (3) & (6)

  2. (1), (3) & (5)

  3. (2), (4) & (6)

  4. (1) & (4)

Show answer
Correct Option: D

_____ is a voluntary association of persons who work together to promote their economic interest.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. Sole proprietorship

  2. Company

  3. Co-partnership

  4. Co-operative

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Correct Option: D

The head of Joint Hindu Family firm is Karta.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation introduction to huf

  1. True

  2. False

Show answer
Correct Option: A
Explanation:

The head of the joint hindu family business is known as Karta. Karta is usually the senior most male member of the joint family and he has the power to control the whole business.