-
question_answer1)
Which of the following is the popular form of business organisation?
A)
Partnership done
clear
B)
Cooperative societies done
clear
C)
Joint stock Company done
clear
D)
Sole proprietorship done
clear
View Solution play_arrow
-
question_answer2)
Which of the following business organisation requires less capital?
A)
Sole proprietorship done
clear
B)
Partnership done
clear
C)
Joint stock Company done
clear
D)
Cooperative societies done
clear
View Solution play_arrow
-
question_answer3)
Small scale economic activities such as beauty parlour, saloons, retail shops falls under which categories of business organisation?
A)
Cooperative society done
clear
B)
Sole proprietorship done
clear
C)
Partnership done
clear
D)
Joint Stock Company done
clear
View Solution play_arrow
-
question_answer4)
Who among the following defined sole proprietorship as sole trader is a type of business unit where a person is solely responsible for providing the capital, for bearing the risk of the enterprise and for the management of business?
A)
TL Hanser done
clear
B)
LH Haney done
clear
C)
Henry Fayol done
clear
D)
None of the above done
clear
View Solution play_arrow
-
question_answer5)
Which of the following is needed sometimes to start a sole proprietory business?
A)
Legal formalities done
clear
B)
License done
clear
C)
Capital in large amount done
clear
D)
None of the above done
clear
View Solution play_arrow
-
question_answer6)
Consider the following statement. |
I. The sole proprietor firm is owned, managed and controlled by a single individual. |
II. All decisions are taken by him solely. |
III.Without any interference, he can carry out business plans. |
Which of the statement(s) given above is/are correct? |
A)
I and II done
clear
B)
II and III done
clear
C)
I and III done
clear
D)
All of these done
clear
View Solution play_arrow
-
question_answer7)
Consider the following statement(s). |
I. There is separate laws that governs sole proprietorship. |
II. As sole proprietorship is the least regulated form of business, |
III.Its firms can be easily started and closed without any legal formalities. |
Which of the statement(s) given above is/are correct |
A)
I and II done
clear
B)
II and III done
clear
C)
I and III done
clear
D)
All of these done
clear
View Solution play_arrow
-
question_answer8)
Who among the following make decisions about the business of a sole proprietorship?
A)
Owner of the business done
clear
B)
Along with partner done
clear
C)
Government of the country done
clear
D)
None of the above done
clear
View Solution play_arrow
-
question_answer9)
Which among the following business type is not bound by law to publish account of the firm?
A)
Partnership done
clear
B)
Sole proprietorship done
clear
C)
Cooperative societies done
clear
D)
Joint Stock Company done
clear
View Solution play_arrow
-
question_answer10)
By which of the following act, the partnership firm of business organisation in India is governed?
A)
The Indian Partnership Act, 1932 done
clear
B)
The Government of India Act, 1935 done
clear
C)
The Company Act, 2013 done
clear
D)
None of the above done
clear
View Solution play_arrow
-
question_answer11)
Which of the following is needed to form a partnership among the partners?
A)
Membership done
clear
B)
Mutual agency done
clear
C)
Agreement containing terms and conditions done
clear
D)
None of the above done
clear
View Solution play_arrow
-
question_answer12)
Consider the following statement(s). |
I. Partnership can be formed with a view to undertake lawful business activity. |
II. The partnership can be formed only for profit motive. |
III. Two persons coming together for charitable purpose will constitute a partnership. |
Which of the statement(s) given above is/are correct? |
A)
I and II done
clear
B)
II and III done
clear
C)
I and III done
clear
D)
All of these done
clear
View Solution play_arrow
-
question_answer13)
Consider the following statement(s). |
I. Registration of the firm in general partnership is optional. |
II. General partnership is one in which liability of every partner is unlimited and joint. |
III. Every partner is entitle to take active part in management? |
Which of the statement(s) given above is/are correct? |
A)
I and II done
clear
B)
II and III done
clear
C)
I and III done
clear
D)
All of the above done
clear
View Solution play_arrow
-
question_answer14)
In which types of partnership registration is compulsory?
A)
General partnership done
clear
B)
Limited partnership done
clear
C)
Particular partnership done
clear
D)
Partnership at will done
clear
View Solution play_arrow
-
question_answer15)
Which among the following partnership existence of the firm is not affected by death, insanity or insolvency of partners with limited liability?
A)
Limited partnership done
clear
B)
General partnership done
clear
C)
Partnership at wilt done
clear
D)
Particular partnership done
clear
View Solution play_arrow
-
question_answer16)
Match the following
List I | List II |
A. | Medical and legal corporation | 1. | Legal partnership |
B. | Landscaping outfit company | 2. | General partnership |
C. | Two partners decide to start some partnership | 3. | Partnership at will |
D. | A partnership formed to produce an upcoming film | 4. | Particular partnership |
Codes
A)
A\[\to \]1, B\[\to \]2, C\[\to \]3, D\[\to \]4 done
clear
B)
A\[\to \]2, B\[\to \]1, C\[\to \]3, D\[\to \]4 done
clear
C)
A\[\to \]4, B\[\to \]3, C\[\to \]2, D\[\to \]1 done
clear
D)
A\[\to \]4, B\[\to \]2, C\[\to \]1, D\[\to \]3 done
clear
View Solution play_arrow
-
question_answer17)
Match the following
List I | List II |
A. | Eldest member of the family | 1. | India except West Bengal |
B. | Equal ownership right over the property of an ancestor | 2. | West Bengal |
C. | Dayabhaga system | 3. | Co-Parceners |
D. | Mitakshara | 4. | Karta |
Codes
A)
A\[\to \]4, B\[\to \]3, C\[\to \]2, D\[\to \]1 done
clear
B)
A\[\to \]1, B\[\to \]2, C\[\to \]3, D\[\to \]4 done
clear
C)
A\[\to \]3, B\[\to \]2, C\[\to \]4, D\[\to \]1 done
clear
D)
A\[\to \]1, B\[\to \]3, C\[\to \]2, D\[\to \]4 done
clear
View Solution play_arrow
-
question_answer18)
Match the following
List I | List II |
A. | Tata iron and steel company limited | 1. | Private company |
B. | Bharat sanchar Nigam limited | 2. | Public company |
C. | Microsoft | 3. | Foreign company |
D. | Times of India group | 4. | Newspaper company |
Codes
A)
A\[\to \]1, B\[\to \]2, C\[\to \]3, D\[\to \]4 done
clear
B)
A\[\to \]2, B\[\to \]1, C\[\to \]3, D\[\to \]4 done
clear
C)
A\[\to \]4, B\[\to \]3, C\[\to \]2, D\[\to \]1 done
clear
D)
A\[\to \]2, B\[\to \]3, C\[\to \]4, D\[\to \]1 done
clear
View Solution play_arrow
-
question_answer19)
Consider the following statement(s). |
I. Mutual agency relationship means that each partner is both an agent and principal. |
II. Liability of all the members of a partnership firm is unlimited. |
III. Personal assets may be used for repaying the debts in case business assets are insufficient. |
Which of the statement(s) given above is/are correct? |
A)
I and II done
clear
B)
II and III done
clear
C)
I and III done
clear
D)
All of these done
clear
View Solution play_arrow
-
question_answer20)
Consider the following statement(s) |
I. A cooperative society is managed by a committee consisting of office-bearers elected by the members. |
II. Their office bearers may not be competent and experienced. |
III. A cooperative society cannot afford to employ expert professional managers at high salaries due to limited funds. |
Which of the statement(s) given above is/are correct |
A)
I and II done
clear
B)
II and III done
clear
C)
I and III done
clear
D)
All of these done
clear
View Solution play_arrow
-
question_answer21)
Maximum number of partners is changed to 50 from earlier 10 and 20 by.........
A)
Partnership Act, 1932 done
clear
B)
Companies Act, 1956 done
clear
C)
Companies Act, 2013 done
clear
D)
None of the above done
clear
View Solution play_arrow
-
question_answer22)
Which of the following organisation has limited liability?
A)
Sole proprietorship done
clear
B)
Partnership done
clear
C)
Company done
clear
D)
All of the above done
clear
View Solution play_arrow
-
question_answer23)
Which organisation Joes not require to be registered?
A)
Sole proprietorship done
clear
B)
Partnership done
clear
C)
Company done
clear
D)
Both and done
clear
View Solution play_arrow
-
question_answer24)
Which of the following can issue shares to public?
A)
Public company done
clear
B)
Private company done
clear
C)
Cooperative societies done
clear
D)
None of the above done
clear
View Solution play_arrow
-
question_answer25)
Which of the following has perpetual succession?
A)
Private company done
clear
B)
Public company done
clear
C)
Partnership done
clear
D)
Both and done
clear
View Solution play_arrow
-
question_answer26)
Maximum number of members in a public company is
A)
200 done
clear
B)
100 done
clear
C)
50 done
clear
D)
unlimited done
clear
View Solution play_arrow
-
question_answer27)
Which of the following is a type of partnership?
A)
General partnership done
clear
B)
Limited partnership done
clear
C)
Particular partnership done
clear
D)
All of the above done
clear
View Solution play_arrow
-
question_answer28)
Which of the following is not a limitation of partnership?
A)
Larger financial resources done
clear
B)
Lack of continuity done
clear
C)
Lack of public confidence done
clear
D)
Possibility of conflicts done
clear
View Solution play_arrow
-
question_answer29)
Which of the following is a feature of cooperative society?
A)
Voluntary membership done
clear
B)
Limited liability done
clear
C)
Service motive done
clear
D)
All of the above done
clear
View Solution play_arrow
-
question_answer30)
Which of the following is a business organisation?
A)
Sole proprietorship done
clear
B)
Partnership done
clear
C)
Joint Stock Company done
clear
D)
All of the above done
clear
View Solution play_arrow
-
question_answer31)
Which of the following is the features of sole proprietorship?
A)
Easy formation and closure done
clear
B)
Full control done
clear
C)
No separate entity done
clear
D)
All of the above done
clear
View Solution play_arrow
-
question_answer32)
Which of the following is not a benefit of sole proprietorship?
A)
Easy to form and close done
clear
B)
Quick decision-making done
clear
C)
Limited life of business done
clear
D)
Secrecy done
clear
View Solution play_arrow
-
question_answer33)
Mutual Agency is the feature of which organisation?
A)
Sole proprietorship done
clear
B)
Partnership done
clear
C)
Company done
clear
D)
Cooperative societies done
clear
View Solution play_arrow
-
question_answer34)
The eldest member of the joint Hindu family business is called as
A)
Karma done
clear
B)
Karna done
clear
C)
Karta done
clear
D)
Karuni done
clear
View Solution play_arrow
-
question_answer35)
The definitions of cooperative society is mentioned under
A)
The Indian Cooperative Societies Act, 1922 done
clear
B)
The Indian Cooperative Trust Act, 1912 done
clear
C)
The Indian Cooperative Trust Act, 1923 done
clear
D)
The Indian Cooperative Societies Act, 1912 done
clear
View Solution play_arrow
-
question_answer36)
Dayabhaga system of Hindu law prevalent in which state of India?
A)
Assam done
clear
B)
Orissa done
clear
C)
West Bengal done
clear
D)
Maharashtra done
clear
View Solution play_arrow
-
question_answer37)
Which of the following statement(s) is/are correct? |
I. A nominal partner is not liable for any liabilities or debtor to the shareholder of the company. |
II. A secret partner take active part in business. |
Select the correct answer using the codes given below |
A)
Only I done
clear
B)
Only II done
clear
C)
Both I and II done
clear
D)
Neither I nor II done
clear
View Solution play_arrow
-
question_answer38)
Which of the following is not the feature of cooperative society?
A)
Legal entity done
clear
B)
Service motive done
clear
C)
Control done
clear
D)
Unlimited liability done
clear
View Solution play_arrow
-
question_answer39)
Which of the following is not the merit of partnership?
A)
Disbursement at risk done
clear
B)
Speedy decision-making done
clear
C)
Greater pool of financial resources done
clear
D)
Secrecy done
clear
View Solution play_arrow
-
question_answer40)
Which of the following statement(s) is/are correct? |
I. In the partnership deed both verbal and non-verbal format agreement are valid. |
II. The agreement deed of partnership must subscribe to distribution of profit and loss. |
Select the correct answer using the codes given below |
A)
Only I done
clear
B)
Only II done
clear
C)
Both I and II done
clear
D)
Neither I nor II done
clear
View Solution play_arrow
-
question_answer41)
Boards of Directors of a company are elected by
A)
Public done
clear
B)
Shareholders done
clear
C)
Debentureholders done
clear
D)
Owner of the company done
clear
View Solution play_arrow
-
question_answer42)
Which of the following statement(s) is/are correct? |
I. Liability of the members is limited to the extent of capital contributed by partner. |
II. Shareholders have the right to involve in the day-to-day running at the business. |
Select the correct answer using the codes given below |
A)
Only I done
clear
B)
Only II done
clear
C)
Both I and II done
clear
D)
Neither I nor II done
clear
View Solution play_arrow
-
question_answer43)
The liquidation of a company can be done under the provision of
A)
Board of Director Act, 2007 done
clear
B)
Company Act, 1949 done
clear
C)
Company Act, 2013 done
clear
D)
Board of Director Act, 2009 done
clear
View Solution play_arrow
-
question_answer44)
Which of the following statement(s) is/are correct? |
I. Public company has high restriction on transfer of shares. |
II. Private company has no restriction on transfer at shares. |
Select the correct answer using the codes given below |
A)
Only I done
clear
B)
Only II done
clear
C)
Both I and II done
clear
D)
Neither I nor II done
clear
View Solution play_arrow
-
question_answer45)
The maximum number of partners in a company according to Company Act, 2013 can be
A)
20 members done
clear
B)
55 members done
clear
C)
25 members done
clear
D)
50 members done
clear
View Solution play_arrow
-
question_answer46)
Mutual agency relationship means that
A)
Each partner is both a creditor and debtor done
clear
B)
Each partner is both an agent and principal done
clear
C)
Each partner is both owner and shareholder done
clear
D)
each partner is both shareholder and debenture holder done
clear
View Solution play_arrow
-
question_answer47)
Which of the following statement(s) is/are correct? |
I. Partner by Estoppel is liable to the debt of the company. |
II. Nominal partner is non-liable to the debt of the company. |
Select the correct answer using the codes given below |
A)
Only I done
clear
B)
Only II done
clear
C)
Both I and II done
clear
D)
Neither I nor II done
clear
View Solution play_arrow
-
question_answer48)
Which of the following provision is not mentioned in partnership deed?
A)
Salaries and withdrawals of the partners done
clear
B)
Method of solving problem done
clear
C)
Procedure of dissolution of the firm done
clear
D)
Maintenance of balance sheet done
clear
View Solution play_arrow
-
question_answer49)
Direction: In the question given below are two statements labelled as Assertion (A) and Reason (R). In the context of the two statements which one of the following is correct? |
Assertion (A) All partners are responsible for the debts according to the proportion to their share in business. |
Reason (R) Each partner can be held responsible for repaying the debts of business. |
Codes
A)
Both A and R are true and R is the correct explanation of A done
clear
B)
A is true, but R is false done
clear
C)
Both A and R are false done
clear
D)
Both A and R are true, but R is not the correct explanation of A done
clear
View Solution play_arrow
-
question_answer50)
Direction: In the question given below are two statements labelled as Assertion (A) and Reason (R). In the context of the two statements which one of the following is correct? |
Assertion (A) There must be at least two persons to form a partnership and all such persons must be competent to contract. |
Reason (R) Maximum number can be 20 in case of banking industries and 10 in case of any other business. |
Codes
A)
Both A and R are true and R is the correct explanation of A done
clear
B)
A is true, but R is false done
clear
C)
Both A and R are false done
clear
D)
Both A and R are true, but R is not the correct explanation of A done
clear
View Solution play_arrow
-
question_answer51)
Direction: In the question given below are two statements labelled as Assertion (A) and Reason (R). In the context of the two statements which one of the following is correct? |
Assertion (A) The shareholders are liable to the extent of the amount paid to the shares held by them. |
Reason (R) Only the assets of the company can be used to settle the debts. |
Codes
A)
Both A and R are true and R is the correct explanation of A done
clear
B)
A is true, but R is false done
clear
C)
Both A and R are false done
clear
D)
Both A and R are true, but R is not the correct explanation of A done
clear
View Solution play_arrow
-
question_answer52)
Direction: In the question given below are two statements labelled as Assertion (A) and Reason (R). In the context of the two statements which one of the following is correct? |
Assertion (A) The affairs of a cooperative society are openly discussed in the meeting of its members. |
Reason (R) It is difficult to maintain secrecy about the operations of a cooperative society due to open discussion in the meeting and discussion obligation as per the Societies Act (7). |
Codes
A)
Both A and R are true and R is the correct explanation of A done
clear
B)
A is true, but R is false done
clear
C)
Both A and R are false done
clear
D)
Both A and R are true, but R is not the correct explanation of A done
clear
View Solution play_arrow
-
question_answer53)
Direction: In the question given below are two statements labelled as Assertion (A) and Reason (R). In the context of the two statements which one of the following is correct? |
Assertion (A) The cooperative society aims at collective pool of resources for better utilisation. |
Reason (R) Cooperative society provides loans to their members at easy terms and reasonably low rate of interest. |
Codes
A)
Both A and R are true and R is the correct explanation of A done
clear
B)
A is true, but R is false done
clear
C)
Both A and R are false done
clear
D)
Both A and R are true, but R is not the correct explanation of A done
clear
View Solution play_arrow
-
question_answer54)
Direction: In the question given below are two statements labelled as Assertion (A) and Reason (R). In the context of the two statements which one of the following is correct? |
Assertion (A) The term risk bearing is associated with companys capital. |
Reason (R) The profit worth and balance sheet of company reflect its working capital. |
Codes
A)
Both A and R are true and R is the correct explanation of A done
clear
B)
A is true, but R is false done
clear
C)
Both A and R are false done
clear
D)
Both A and R are true, but R is not the correct explanation of A done
clear
View Solution play_arrow