Ch 2 Forms of Business Organisations.pdf

Business Studies for Class X 2.62 MULTIPLE CHOICE QUESTIONS (MCQs) 1. Every partner acts in the capacity of: (a) An agent as wellas a principal (b) Only agent of the firm (c) On...

Business Studies for Class X 2.62 MULTIPLE CHOICE QUESTIONS (MCQs) 1. Every partner acts in the capacity of: (a) An agent as wellas a principal (b) Only agent of the firm (c) Only principalof the firm (d) None of these 2. The minimum numbers of adult members required in a cooperative society is: (a) 2 (b) 5 (c) 7 (d) 10 3. Who issues the Certificate of Registration' to a partnership frm? (a) State Government (b) Central Government (c) Registrar of Firms (d) None of these 4. The maximum number of members in a private company is: (a) 5 (b) 20 (c) 50 (d) 200 5. Itis possible to maintain 100% secrecy and confidentiality in the following form of business: (a) Sole Proprietorship (b) Partnership (c) Joint Stock Company (d) Joint Hindu Family Business 6. Which of the following is a merit of Sole Proprietorship? (a) Quick Decision Making (b) Direct Incentive (c) Ease of Formation and Closure (d) All of these 7. Apartnership firm may be registered under the Indian Partnership Act, (a) 1949 (b) 1956 (c) 1932 (d) 1957 8. Inwhich type of company, there is no restriction on the transfer of shares? (a) One Person Company (b) Public Company (c) Private Company (d) None of these 9. In the absence of Articles of Association, is adopted. (a) Table A (b) Table C (c) Table F (d) Table E 10. Which of the following partner does not take part in the (a) Secret Partner day-to-day activities of the business? (c) Sleeping Partner (b) Active Partner (d) Allof these 11. Apartner who allows the use of his name and goodwill for as a partner is known as: the benefit of the firm and can be (a) Active Partner represented (c) Nominal Partner (b) Sleeping Partner (d) Secret Partner 12. Preliminary Contracts are: (a) Binding on the Company (b) Binding on the Company, if ratified after incorporation (c) Binding on the Company, after (d) Not binding on the Company incorporation Chapter2 Forms of Business Organisations 2.63.Aminor can be admitted to the benefits of an already existing partnership frm. ia) With the consent of Managing Partner (b) With the consent of all existing Partner ic) With the consent of the Court (d) None of these.. Suppose Akashis ashareholder in acompany holding 200 shares of 10 eachon which he has already paid E6 pershare. In the event of losses or company's failure to pay debts, Akash is liable to pay: (a) 2,000 (b) 1,200 {c) 800 (d) ?3,200 15. clause of Memorandum of Association defines the purpose for which the company is formed. (a) Capital (b) Liability (c) Name (d) Object 16. This document is described as the Charter of the Company. (a) Prospectus (b) Articles of Association (c) Memorandum of Association (d) None of these 17. Qualification shares are subscribed by of the company. (a) Auditors (b) Directors (c) Bankers (d) Employees 18. The structure in which there is separation of ownership and management is called: (a) Sole proprietorship (b) Partnership (c) Company (d) Allbusiness organisations 19. The karta in Joint Hindu family business has: (a) Limited liability (b) Unlimited liability (c) No liability for debts (d) Joint liability 20. In a cooperative society, the principle followed is: (a) One share one vote (b) One man one vote (c) No vote (d) Multiple votes 21. The board of directors ofajoint stock company is elected by: (a) General public (b) Government bodies () Shareholders (d) Employees 22. Profits do not have to be shared. This statement refers to: (a) Partnership (b) Joint Hindu Family Business (c) Sole Proprietorship (d) Company