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Class 11 Commerce Forms of Business Organisation — practice questions

Explore 13 free Forms of Business Organisation questions in Class 11 Commerce Business Studies. Open each question or exercise to read its content, reference answers and available explanation.

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Forms of Business Organisation questions and exercises with answers

Showing questions 1–13 of 13.

The form of business organisation owned, managed and controlled by a single individual is a:Read the answer and worked solution →The liability of a sole proprietor for the debts of the business is:Read the answer and worked solution →A Joint Hindu Family business is governed by:Read the answer and worked solution →The person who manages and controls a Joint Hindu Family business is known as the:Read the answer and worked solution →An association of two or more persons who agree to carry on a business and share its profits is a:Read the answer and worked solution →The written document that contains the mutually agreed terms of a partnership is the:Read the answer and worked solution →As per the Companies (Miscellaneous) Rules 2014, the maximum number of partners a partnership firm may have is:Read the answer and worked solution →A form of organisation owned by its members who voluntarily associate on the principle of mutual help is a:Read the answer and worked solution →A cooperative society works on the democratic principle of:Read the answer and worked solution →The minimum number of adult members required to form a cooperative society is:Read the answer and worked solution →The feature of a company by which its continuity is unaffected by the death of its members is:Read the answer and worked solution →The minimum number of members required to form a private company and a public company are respectively:Read the answer and worked solution →The maximum number of members allowed in a private company is:Read the answer and worked solution →

Worked practice questions

The form of business organisation owned, managed and controlled by a single individual is a:

  1. sole proprietorship
  2. joint stock company
  3. cooperative society
  4. partnership firm
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Correct answer: A. sole proprietorship

A sole proprietorship is owned, managed and controlled by one individual.

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The liability of a sole proprietor for the debts of the business is:

  1. nil
  2. unlimited
  3. limited to capital contributed
  4. limited to ₹1 lakh
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Correct answer: B. unlimited

A sole proprietor has unlimited liability — personal assets can be used to pay business debts.

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A Joint Hindu Family business is governed by:

  1. the Partnership Act
  2. Hindu Law
  3. the Companies Act
  4. the Cooperative Societies Act
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Correct answer: B. Hindu Law

The Joint Hindu Family business is governed by Hindu Law.

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