CBSE Class 11 (Commerce) Forms of Business Organisation — practice questions
79 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice CBSE Class 11 (Commerce) Forms of Business Organisation in the app →The form of business organisation owned, managed and controlled by a single individual is a:The liability of a sole proprietor for the debts of the business is:A Joint Hindu Family business is governed by:The person who manages and controls a Joint Hindu Family business is known as the:An association of two or more persons who agree to carry on a business and share its profits is a:The written document that contains the mutually agreed terms of a partnership is the:As per the Companies (Miscellaneous) Rules 2014, the maximum number of partners a partnership firm may have isA form of organisation owned by its members who voluntarily associate on the principle of mutual help is a:A cooperative society works on the democratic principle of:The minimum number of adult members required to form a cooperative society is:The feature of a company by which its continuity is unaffected by the death of its members is:The minimum number of members required to form a private company and a public company are respectively:The maximum number of members allowed in a private company is:What kind of liability does a sole proprietor have for business debts?A sole proprietor's firm owes Rs. 80,000 but has assets of Rs. 60,000. What must she bring personally?In the eyes of the law, how is a sole trader's business treated?Which is a recognised advantage of a sole proprietorship?Regarding publication of accounts, what is the position of a sole trader?Why does a sole proprietorship often lack business continuity?Sole proprietorship is particularly common in which kind of activity?In a sole proprietorship, who receives all the business profits?A business owned by members of a Hindu Undivided Family is governed by which law?What is the head of a joint Hindu family business called?What are members with equal ownership rights over ancestral property called?On what basis does one become a member of a joint Hindu family business?Whose liability is unlimited in a joint Hindu family business?The liability of co-parceners other than the karta is limited to what?When does a coparcener's daughter become a coparcener, per the 2005 Act?Which is correct about forming a joint Hindu family business?What happens to a joint Hindu family business when the karta dies?Which limitation arises from the karta managing the business individually?Why is the joint Hindu family business said to be on the decline?Which Act governs the partnership form of business in India?What is the minimum number of partners needed to start a partnership firm?How is the liability of partners in a firm described?A partnership firm comes into existence through which of these?Two people run a charity kitchen without profit motive. Why is it no partnership?In what way are profits shared among partners?Which describes the mutual agency feature of partnership?After a partner dies, the remaining partners can continue the firm by doing what?Why can a partnership raise more funds than a sole proprietorship?A partnership firm keeps its operations confidential because it is not required to do what?Is registration of a partnership firm compulsory?Registration of a partnership firm means entering its name in a register kept with whom?Which partner contributes capital, manages the firm, shares profits and has unlimited liability?Which partner does not take part in day to day activities but contributes capital and shares profits?A partner whose association with the firm is unknown to the public is called what?Who allows a firm to use his name but contributes no capital and shares no profits?A friend joins a business negotiation and gives the impression she is a firm's partner. What is she?Why is public confidence in partnership firms generally low?Which limitation restricts a partnership's ability to expand beyond a size?In the Indian Partnership Act, 1932, what do partners agree to share?A cooperative working within one state is governed by which law?In a cooperative society, how many votes does each member get?The liability of members of a cooperative society is limited to what?Which motive dominates the working of a cooperative society?Which society buys goods in bulk from wholesalers and sells to members, eliminating middlemen?Which society supplies inputs to small producers and buys their output?Which society helps small producers in selling their products at reasonable prices?Which society provides better quality seeds and enables joint farming for large-scale benefits?Which society is set up to provide easy credit on reasonable terms to members?Which society constructs flats or provides plots to members in instalments?In which year did the farmers' initiative that grew into Amul begin at Anand?Why do cooperatives struggle to attract professional managers?Which Act governs the formation of a joint stock company in India?Who elects the Board of Directors, the chief managing body of a company?Into what is the capital of a company divided?Why is a company called an artificial person?From when does a company acquire an identity distinct from its members?Perpetual succession means a company can be ended only in which way?Who does not have the right to take part in the day to day running of a company?Shares of a company can be freely transferred, except in which company?What is the minimum number of members needed to form a public company?Which words must a private company use after its name?Why does a private company need no prospectus?Why is complete secrecy hard for a company to maintain?What option do dissatisfied shareholders have when directors dominate?A public company's shares can be sold in the market, which gives what benefit?Which describes a public company under the Companies Act?