The structure in which there is separation of ownership and management is called

1

(a)

Sole proprietorship

(b)

Partnership

(c)

Company

(d)

All business organizations

The Karta in Joint Hindu family business has:

1

(a)

Limited liability

(b)

Unlimited liability

(c)

No liability for debts

(d)

Joint liability

In a cooperative society the principle followed is:

1

(a)

One share one vote

(b)

One man one vote

(c)

No vote 

(d)

Multiple votes

The board of directors of a joint stock company is elected by:

1

(a)

General public

(b)

Government bodies

(c)

Shareholders

(d)

Employees

The maximum number of partners allowed in the banking business are:

1

(a)

Twenty

(b)

Ten

(c)

No limit 

(d)

Two

Choose the type of business in which sole proprietorship is very suitable.

1

(a)

CA Firm

(b)

Beauty Parlour

(c)

A shopping mall

(d)

All of these

Name the person who manages a Joint Hindu Family Business.

1

(a)

Manager

(b)

Minor

(c)

Members

(d)

Karta

Name the law which governs Joint Hindu Family Business

1

(a)

Partnership Act 

(b)

Hindu Law

(c)

Companies Act, 1956

(d)

Contract Act

Which document is called charter of a company?

1

(a)

Memorandum of Association

(b)

Articles of Association

(c)

Prospectus 

(d)

All of the above

What is the minimum number of persons required to form a co-operative society

1

(a)

2

(b)

7

(c)

10

(d)

20

From social welfare point of view, which type of organization is most desirable from employment generation point of view?

2

(a)

Which value is of utmost importance when partnership form of business is used?

2

(a)

State the important privileges available to a private company

2

(a)

How does a cooperative society exemplify democracy and secularism? Explain.

2

(a)

What is meant by 'partner by estoppel'? Explain.

2

(a)

Explain the concept of mutual agency in partnership with suitable example.

3

(a)

What is the role of Karta in Joint Hindu Family business?

3

(a)

Explain procedure of registering a partnership firm.

3

(a)

Is registration of partnership firm compulsory? What are the consequences of non-registration?

3

(a)

What are the steps required for raising funds from public?

3

(a)

Distinguish between a Joint Hindu family business and partnership.

5

(a)

Despite limitations of size and resources, many people continue to prefer sole proprietorship over other forms of organization. Why?

5

(a)

1. What do you mean by incorporation of a company? What are the steps involved in corporation of a company?

   5

   (a)

2. Explain different types of partners.

   5

   (a)