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- 1. Multiple Choice
Members of Joint stock company are called?
Partners
Shareholders
Directors
Members
- 2. Multiple Choice
Maximum number of members in Public Limited company
No limit
100
50
200
- 3. Multiple Choice
Minimum number of members in Private company
7
10
2
1
- 4. Multiple Choice
Which of the following is feature of Joint Stock Company?
One man control
Two or more person
Service Motive
Voluntary Association
- 5. Multiple Choice
Governing law for Joint Stock company
Hindu succession Act
Indian Companies Act
Partnership Act
Indian co-operative society Act
- 6. Multiple Choice
How many representative OPC can have
1
2
3
4
- 7. Multiple Choice
A small business owned by one person.
sole proprietorship
corporation
nonprofit organization
partnership
- 8. Multiple Choice
Partnership: This form of ownership gives businesses more capital and a better chance of success.
advantage
disadvantage
- 9. Multiple Choice
What is a business co-owned by two or more people?
Corporation
Partnership
Sole Proprietorship
- 10. Multiple ChoiceIn a general partnership,the business continues even if one partner diespartners must pay specific business taxes on stock they issuepartners usually draw up legal papers called articles of partnership.partners are only liable for the business' debt up to the amount of their investment
- 11. Multiple ChoiceSusan, Phil, Robert, and Martina are all lawyers. After several years of working for big firms, they decide to pull their resources and start their own law practice together. The four of them will make all their business decisions together and will share all of the profits and financial risk. Their new law firm is apartnershipcorporationsole proprietorshipmonopoly
- 12. Multiple ChoiceBarry and two associates have been operating a business that is not going well. Barry is stressed out because the company is over $200,000 in debt and he knows that if it goes out of business, he and his two associates will have to pay it out of their own pockets. It sounds like Barry and his two associates have apartnership.corporation.sole proprietorship.stock.
- 13. Multiple ChoiceMr. Simpson is liable for all the debts of his company. Mr.Simpson has which type of business organization?sole proprietorshipmonopolyperfect competitioncorporation
- 14. Multiple ChoiceBernice owns her own local gift shop. She acquired the necessary loans to open it, assumes all the financial risk herself, and makes all the decisions. It sounds like Bernice's business is a/anpartnershipfranchisecorporationsole proprietorship
- 15. Multiple ChoiceAdvantages of this business type are that the owner is their own boss and gets to keep all the profits.PartnershipSole ProprietorshipCorporationFranchise
- 16. Multiple ChoiceDisadvantages for this type of business include: owner pays for everything, hard to get money to start from the bank, owner might lack skills & unlimited liability.Sole ProprietorshipPartnershipCorporationFranchise
- 17. Multiple ChoicePartners who are only responsible up to the extent of their investmentlimited partnershiptrading partnershipnon-trading partnershipspecial partnership
- 18. Fill in the Blank
_____________________ is the main document of every company.
- 19. Multiple Choice
Which is the first step of formation of a company?
subscription of capital
promotion
incorporation
none of these
- 20. Multiple Choice
Who enjoys a fiduciary position that one must not misuse?
Promoter
Owner
- 21. Multiple Choice
This clause contains the name of the state,in which the registered office of the company is proposed to be situated.Name?
registered office clause
city clause
name clause
objects clause
- 22. Multiple Choice
Every business activity requires funds.
The promoters have to estimate the
fund requirements for the identified
business opportunity.Which feasibility studies is this part of?
technical feasibility
economic feasibility
financial feasibility
- 23. Multiple Choice
Private company as against
the public limited company is prohibited
to raise funds from public, it does not
need to issue a prospectus and complete
the formality of ___________
promotion
minimum subscription
incorporation
- 24. Multiple Choice
No company can legally
undertake activities that are not
contained in its ________________
Memorandum of association
articles of association
- 25. Multiple Choice
It is compulsory for a company to submit AOA.
true
false
- 26. Multiple Choice
__________________ is the most important clause in MOA.
capital clause
association clause
objects clause
registered office clause
- 27. Multiple ChoiceIf the required outlay for the project is so large that it cannot easily be arranged within the available means, the project has to be given up. Whch aspect has been highlighted by aforesaid statement.Techincal feasibilityEconomic feasibilityFinancial feasibilityProfessional feasibility
- 28. Multiple Choice
When the Registrar is satisfied about the completion of formalities for registration, a …......... is issued to the company, which signifies the birth of the company
Certificate of Incorporation
Certificate of formation
Certificate of promotion
Certificate of commencement of business
- 29. Multiple Choice
…............ is an enterprise with only one person as a member which avails all the benefits of a private limited company such as separate legal entity, protecting personal assets from business liability and perpetual succession.
One person company
Sole Proprietorship
Company
Cooperative society
- 30. Multiple ChoiceStages in the formation of a public company are in the following order:Promotion, commencement, incorporation and capital subscriptionIncorporation, capital subscription, commencement, promotionCapital subscription, promotion, incorporation, commencement.Promotion,incorporation, capital subscription, commencement.
- 31. Multiple ChoiceA prospectus is issued for:Inviting public for rising share capitalSeeking permission to start business operationsInform public about the formation of the companyAppointing Board of directors
- 32. Multiple Choice
A proposed name of Company is considered undesirable if:
It is identical with the name of an existing company
It resembles closely with the name of an exiting company
It is an emblem of government in India, united nations etc.
In case of any of the above
- 33. Multiple Choice
Application for approval of name of a company is to be made to:
SEBI
Registrar of Companies
Government of India
Company Law Board
- 34. Multiple Choice
A ...........partner is one whose association with the firm is unknown to the general public.
Active
Sleeping
Secret
Nominal
- 35. Multiple Choice
It is optional for a partnership firm to get registered
True
False
Partly true
None of the above
- 36. Fill in the Blank
Partnership firms in India are governed under the Partnership Act.............
- 37. Fill in the Blank
Minors can be admitted to share only ...........of the firm
- 38. Multiple Choice
Partnership deed does not include the following
Name of the partners
Capital contributed by each partner
Method of resolving dispute
Rules for who can be admitted as a partner
- 39. Multiple Choice
Who among the following partners does not contribute capital
Active
Sleeping
Secret
Partner by Estoppel
- 40. Multiple Choice
Which are the partners who share profits and losses
Active partner
Sleeping partner
Secret partner
Partner by estoppel
- 41. Fill in the Blank
Two construction firms joined together to complete building a flyover in Noida. What type of partnership have they formed?
- 42. Multiple Choice
The Karta in Joint Hindu family business has
Limited liability
Unlimited liability
- 43. Multiple Choice
The head of the Joint Hindu family is called
Karta
Propriter
Director
- 44. Multiple Choice
Registration is compulsory in —
Sole proprietorship
Partnership
Cooperative Society
Joint Hindu Family
- 45. Multiple Choice
In a cooperative society, the power to take decisions lies in the hands of-
Elected Managing Committee
Members
Partners
Board of Directors
- 46. Multiple Choice
Which of the following business organisation has service motive?
Sole Proprietorship
Partnership
Cooperative Society
Joint Hindu Family
- 47. Multiple Choice
In a co-operative society, the principle followed is
One man one vote
Multiple votes
No vote
One share one vote
- 48. Multiple ChoiceOne important advantage of forming a partnership is that this form of business organization gives each owner sole control over the business.TrueFale
- 49. Multiple Choice
Walmart is an example of what type of business organization?Sole ProprietorshipPartnershipCorporation - 50. Multiple Choice
No paperwork (charter or agreement) is required to start which type of business?
Partnership
Franchise
Sole Proprietorship
Corporation
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