Forms of business organisations Quiz-3

Forms of business organisations Quiz-3

Quiz

 

1. As per The Companies Act, 2013, a public company is defined as:
   1.   A company which is not a private company
   2.   A company which has restrictions on the transferability of its shares
   3.   A company which is prohibited from issuing shares to the public
   4.   A company which has limited the number of its members upto 200
2. Common seal of a company acts as its:
   
   1.   Official signature of the company
   2.   Signature of the Board of Directors
   3.   Signature of the promoters
   4.   Signature of the CEO
3. How does the Cooperative societies raise its capital:
   1.   By issuing shares to its members
   2.   By issuing shares to the public
   3.   By getting donations
   4.   None of these
4. All members who have equal ownership rights over the property of an ancestor are known as __________:
   1.   Family members
   2.   Coparceners
   3.   Business Partners
   4.   Heirs of the Business
5. The form of business organisation which is specifically found in India is:
   1.   Sole proprietorship
   2.   NGO
   3.   Cooperative society
   4.   Joint Hindu Family business
6. Reliance Industries is a _______ company:
   1.   Private
   2.   Public
   3.   Subsidiary
   4.   NGO
7. A company is created by ______ and only ______ can bring an end to its life:
   1.   Law; law
   2.   Promoters; law
   3.   Shareholders; promoters
   4.   Directors; promoters
8. Sense of accomplishment is present in which of business organisation:
   1.   Partnership
   2.   Company
   3.   joint Hindu Family business
   4.   Sole proprietorship
9. The limit of maximum number of members in a public company is:
   
   1.   100
   2.   200
   3.   500
   4.   There is no limit of maximum number of members in a public company
10. Which of the following is not mentioned in the partnership deed:
    1.   Name of the firm
    2.   Duration of business
    3.   Method of solving disputes
    4.   Amount of profit and losses
11. Ram, Shyam and Kavi were in a partnership firm. Kavi wants his son to enter into the firm, Shyam agrees to this but Ram does not agree to Kavi’s intentions. Can Kavi bring his son to the partnership firm even if Ram does not agree
    1.   Yes
    2.   No
    3.   Yes, but after completing certain legal formalities
    4.   None of these
12. How many types of partners are there:
    1.   5
    2.   7
    3.   6
    4.   2
13. Partner who does not contribute to the capital neither takes part in the management of the firm but still he/she is liable to pay the firm’s debt because they are considered to be a partner of the firm in the eyes of a third party:
    1.   Dormant
    2.   Nominal
    3.   Active
    4.   Partner by estoppel
14. Which of the following is a consequence of not registering the partnership firm
    1.   A partner cannot file a suit against the partner or the firm
    2.   A partner cannot file a suit against third parties
    3.   Firm cannot file a suit against any of its partners
    4.   All of these
15. The main motive of a cooperative society is:
    1.   To earn profits
    2.   To provide service to its members
    3.   To inculcate a habit of savings among members
    4.   To cooperate and work as a team with members
16. The Joint Hindu Family business is governed by which of the following laws:
    1.   Hindu law, 2002
    2.   Hindu Undivided law, 1994
    3.   Hindu Family law, 1965
    4.   Hindu Succession Act, 1956.
17. The Indian Partnership Act, 1932 defines Partnership as:
    1.   The relation between persons who have agreed to share the profits of the business carried on by all or any one of them acting for all.
    2.   The relation between persons who have agreed to carry on business activities together.
    3.   The relation between persons who have agreed to share the profits of the business carried on by all of them together.
    4.   None of these
18. In a limited partnership, the liability of at least one partner is _______ while of other partners is _______:
    1.   Limited; unlimited
    2.   Limited; general
    3.   General; unlimited
    4.   Unlimited; limited
19. The chief managing body of a company is:
    1.   Board of Directors
    2.   Shareholders
    3.   Debenture holders
    4.   All of these
20. Harish was a sole proprietor and was running a retail shop of gift items. Unfortunately, due to an accident Harish died, due to which his business also came to an end. Which feature of the sole proprietorship is applied here:
    1.   No separate entity
    2.   Lack of business continuity
    3.   Sole risk bearer and profit recipient
    4.   None of the these