Forms of business organisation - sole proprietorship, Hindu undivided family, partnership, limited liability partnership, joint stock company, co-operative organisation, government organisation, location of a plant - Question Bank
1. Which of the following business forms is characterized by 'mutual agency' among its owners?
2. The 'Articles of Association' of a company typically contains:
3. Which form of business organization has 'limited liability' for all its owners?
4. Government policies, including tax incentives and regulatory frameworks, fall under which factor of plant location?
5. Which type of co-operative society aims to provide essential goods and services to its members at reasonable prices?
6. The term 'shareholder' is associated with which form of business organization?
7. What is the maximum number of partners allowed in a Limited Liability Partnership (LLP)?
8. What is a key advantage of a partnership over a sole proprietorship?
9. The 'Karta' of a HUF business has the power to:
10. Which factor influences plant location by considering the availability of transport facilities like roads, railways, and ports?
11. A Marketing Co-operative Society helps its members by:
12. Which form of business organization is best suited for businesses requiring large amounts of capital and expertise?
13. Which of the following documents is essential for the formation of a joint stock company?
14. In a partnership, profits and losses are shared among partners according to:
15. What is the minimum number of members required to form a co-operative society?
16. The concept of 'separate legal entity' is a characteristic of:
17. Formation of which business organization is the simplest and requires minimal legal formalities?
18. Which factor of plant location considers the cost and availability of land?
19. A Departmental Undertaking is typically managed by:
20. What is the primary benefit of forming a co-operative society for its members?
21. In a public limited company, the liability of shareholders is limited to:
22. What is the minimum number of directors required for a private limited company?
23. The Karta in a HUF business has:
24. Which of the following business forms offers the greatest degree of secrecy?
25. Proximity to markets is important for plant location primarily to:
26. Which type of government organization is owned and controlled by the government but operates like a private enterprise?
27. What is the governing document for a co-operative society?
28. The capital of a joint stock company is divided into units called:
29. Which of the following is a key feature of a Limited Liability Partnership (LLP)?
30. What is the maximum number of partners allowed in a partnership firm as per the Indian Partnership Act, 1932?
31. In a HUF business, the 'coparceners' are those individuals who acquire an interest in the joint property by:
32. What is a major disadvantage of a sole proprietorship regarding growth and expansion?
33. Which factor of plant location relates to the availability and cost of utilities like power and water?
34. A government company is a company in which the paid-up share capital held by the government is not less than:
35. Which type of co-operative society aims to provide credit facilities to its members?
36. In a joint stock company, ownership is separated from management. Who typically manages the company?
37. The document that outlines the rights, duties, and liabilities of partners in a partnership is called:
38. Which of the following entities has 'perpetual succession'?
39. What is the minimum number of members required for a Limited Liability Partnership (LLP) in India?
40. In a partnership, the liability of general partners is:
41. Which form of business is governed by the Mitakshara and Dayabhaga schools of Hindu law?
42. What is the primary source of capital for a sole proprietorship?
43. In a sole proprietorship, the owner's personal assets are at risk if the business incurs debts. This is known as:
44. The decision regarding the location of a plant is crucial and depends on several factors. Which of these is NOT a primary consideration for plant location?
45. Which government organization is established by a special Act of Parliament or State Legislature?
46. What is the primary objective of a co-operative organization?
47. A joint stock company is a separate legal entity distinct from its members. What is this legal status often referred to as?
48. Which type of business organization offers limited liability to its partners, with at least one partner having unlimited liability?
49. What is the minimum number of partners required to form a general partnership firm?
50. In a Hindu Undivided Family (HUF) business, who is typically the head of the family and manages the business affairs?