Forms of business organisations Quiz-4

Forms of business organisations Quiz-4

Quiz

 

1. It can continue as long as the partners want and is terminated when any partner gives a notice of withdrawal from partnership to the firm.
   1.   Partnership at will
   2.   Particular partnership
   3.   General Partnership
   4.   Limited Partnership
2. Who can be a member of an OPC?
   1.   Only a natural person
   2.   Only a legal person
   3.   Both a natural person and a legal person
   4.   None of the above
3. __________________clause specifies the maximum capital which the company will be authorised to raise through the issue of shares.
   1.   Name Clause
   2.   Capital Clause
   3.   Objects Clause
   4.   Liability Clause
4. The________________ is a conclusive evidence of the regularity of the incorporation of a company.
   1.   Articles of Association
   2.   Partnership deed
   3.   Memorandum of Association
   4.   Certificate of Incorporation
5. ____________ clause defines the purpose for which the company is formed.
   1.   Name Clause
   2.   Registered Office Clause
   3.   Objects Clause
   4.   Liability Clause
6. What is the liability of the members of an OPC?
   1.   Limited liability
   2.   Unlimited liability
   3.   Joint liability
   4.   Several liability
7. What are the advantages of forming a private company?
   1.   Limited liability
   2.   Simple registration process
   3.   Less government regulation
   4.   All of the above
8. The liability of members of a cooperative society is ___________to the extent of their capital contribution.
   1.   Born
   2.   Shared
   3.   Unlimited
   4.   Limited
9. What is a prospectus?
   1.   A document that provides information about a company and its securities to potential investors
   2.   A document that provides information about a company's financial performance
   3.   A document that provides information about a company's management team
   4.   All of the above
10. Members may come and members may go, but the company continues to exist.
    1.   Perpetual succession,
    2.   Formation
    3.   Separate legal entity
    4.   Artificial person
11. The society aims to eliminate middlemen and improve competitive position of its members by securing a favourable market for the products.
    1.   Consumer’s cooperative societies
    2.   Producer’s cooperative societies
    3.   Marketing cooperative societies
    4.   Farmer’s cooperative societies
12. A company is a creation of law and exists independent of its members.
    1.   Formation
    2.   Separate legal entity
    3.   Perpetual succession
    4.   Artificial person
13. Contracts signed after incorporation but before commencement of business are Provisional Contracts.
    1.   True
    2.   False
    3.   Partly True
    4.   None of these
14. These partners take actual part in carrying out business of the firm on behalf of other partners.
    1.   Active partner
    2.   Sleeping or dormant partner
    3.   Secret partner
    4.   Nominal partner
15. _______________defines the rules regarding internal management of a company.
    1.   Articles of Association
    2.   Partnership deed
    3.   Memorandum of Association
    4.   Certificate of Incorporation
16. ___________partner is one whose association with the firm is unknown to the general public.
    1.   Active partner
    2.   Sleeping or dormant partner
    3.   Secret partner
    4.   Nominal partner
17. The society aims to fight against the big capitalists and enhance the bargaining power of the small producers.
    1.   Consumer’s cooperative societies
    2.   Producer’s cooperative societies
    3.   Marketing cooperative societies
    4.   Farmer’s cooperative societies
18. The law does not recognise the business and owners to be one and the same.
    1.   Perpetual succession,
    2.   Formation
    3.   Separate legal entity
    4.   Artificial person
19. _________is the most important document as it defines the objectives of the company.
    1.   Articles of Association
    2.   Partnership deed
    3.   Memorandum of Association
    4.   Incorporation certificate
20. A____________which has its objectives for the promotion of economic interests of its members in accordance with cooperative principles.
    1.   Sole proprietorship
    2.   Joint Hindu family business
    3.   Partnership
    4.   Cooperative societies