A partner whose association with the firm is unknown to the general public is called
1.Active partner
2.Sleeping partner
3.Nominal partner
4.Secret partner
A ___________ is a business with two or more owners:
1.corporation
2.conglomerate
3.partnership
4.public corporation
At least 10 adults, no maximum limit in case of ______
1.Company
2.Cooperative Society
3.Joint Hindu Family
4.Partnership
A__________ provides for the greatest degree of continuity:
1.general partnership
2.joint venture
3.corporation
4. sole proprietorship
A_____________partner is an owner who has unlimited liability and is active in managing the firm:
1.senior partner
2.general partner
3.silent partner
4.limited partner
Co-operatives play an important role in:
1.aerospace
2.agriculture
3.manufacturing
4.all of the above
Hindu Succession Act was passed in _________
1.1952
2.1960
3.1932
4.1956
In a cooperative society the principle followed is
1.One share one vote
2.One man one vote
3.No vote
4.Multiple votes
In case of ___________ Registration is compulsory
1.Sole Proprietorship
2.Partnership
3.None of these
4.Company
Profits do not have to be shared. This statement refers to
1.Company
2.Sole proprietorship
3.Joint Hindu family business
4.Partnership
Provision of residential accommodation to the members at reasonable rates is the objective of
1.Consumers cooperative
2.Credit cooperative
3.Housing cooperative
4.Producers cooperative
The board of directors of a joint stock company is elected by
1.General public
2. Government bodies
3.Shareholders
4.Employees
The capital of a company is divided into number of parts each one of which are called
1.Share
2.Dividend
3.Profit
4.Interest
The form of business organization that has the largest sales volume is the:
1.partnership
2.corporation
3.cooperative
4.multinational
The Head of the joint Hindu family business is called
1.Manager
2.Proprietor
3.Karta
4.Director
The karta in Joint Hindu family business has
1.No liability for debts
2.Unlimited liability
3.Joint liability
4. Limited liability
The life of sole proprietorship business is ______
1.Unstable
2.Stable
3.Very short life
4.Long life
The major advantage of a franchise is:
1.training and management assistance
2.personal ownership
3.nationally recognized name
4.all of the above
The maximum number of partners allowed in the banking business are
1.Two
2.Twenty
3.No limit
4.Ten
The most effective form of business organization for raising capital is the:
1. joint venture
2.partnership
3.corporation
4.proprietorship
The structure in which there is separation of ownership and management as per law is called
1.Company
2.All business organisations
3.Partnership
4.Sole proprietorship
What is the limit of members in case of a Private Company?
1.2
2.7
3.10
4.50
Which of the following is a characteristic of a co-operative?
1.profits are not subject to income tax
2.one vote per share
3.dividends are paid on a per share basis
4.all of the above
Which of the following is an advantage of a sole proprietorship?
1.ease of starting a business
2.being your own boss
3.pride of ownership
4.all of the above
Which of the following is an example of a non profit organization?
1.Royal Bank
2.YMCA
3.BCE
4.Air Canada
Which of the following is probably the most important reason for incorporating?
1.limited liability of shareholders
2.more money for investment
3.increased flexibility
4.shared management