Tag: joint hindu family business and cooperative society

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Questions Related to joint hindu family business and cooperative society

Multiple choice 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

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 :-

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

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

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

  4. (1) & (4)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

APPCO (Andhra Pradesh State Handloom Weavers Cooperative Society) and Haryana Handloom are examples of producer cooperatives, as they assist in the production and marketing of handloom goods.

Multiple choice 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

Kendriya Bhandar is a _______.

  1. co-operative Credit Society

  2. consumers Co-operative Society

  3. producers Co-operative Society

  4. co-operative Marketing Society
Reveal answer Fill a bubble to check yourself
D Correct answer
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.

Multiple choice 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

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

  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
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A key feature of cooperative societies is that surplus or profit is distributed among members based on their participation or patronage, rather than just capital investment.

Multiple choice 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

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

  1. small scale enterprises

  2. public sector enterprises

  3. private sector enterprises

  4. large scale enterprises
Reveal answer Fill a bubble to check yourself
D Correct answer
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.

Multiple choice 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

What is corporate personality?

  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.
Reveal answer Fill a bubble to check yourself
C Correct answer
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.

Multiple choice 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

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

  1. Agree

  2. Disagree

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

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
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.

Multiple choice 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

Company secretary has duties under__________.

  1. Income tax Act.

  2. Companies Act.

  3. Indian stamp Act.

  4. All of the above.
Reveal answer Fill a bubble to check yourself
D Correct answer
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

Multiple choice 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

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 ____________________.

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

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

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

  4. (1) & (4)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

This is a duplicate of question 404899. The correct answer remains (1) & (4) - APPCO and Haryana Handloom. APPCO (Andhra Pradesh Pradesh Cooperative Marketing Society) is a producers' cooperative owned by farmers for agricultural marketing. Haryana Handloom is a producers' cooperative of weavers. The others represent different types: Kendriya Bhandar and Apna Bazar are consumer cooperatives, while the Gujarat federation is a secondary-level marketing organization.

Multiple choice 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

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

  1. Sole proprietorship

  2. Company

  3. Co-partnership

  4. Co-operative
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A cooperative is defined as a voluntary association of individuals who join together to achieve common economic goals through mutual help.

Multiple choice 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

The head of Joint Hindu Family firm is Karta.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
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.