FORMS OF BUSINESS ORGANIZATIONS

Members of Joint stock company are called?

• Partners

• Shareholders

• Directors

• Members

Maximum number of members in Public Limited company

• No limit

• 100

• 50

• 200

Minimum number of members in Private company

• 7

• 10

• 2

• 1

Which of the following is feature of Joint Stock Company?

• One man control

• Two or more person

• Service Motive

• Voluntary Association

Governing law for Joint Stock company

• Hindu succession Act

• Indian Companies Act

• Partnership Act

• Indian co-operative society Act

How many representative OPC can have

• 1

• 2

• 3

• 4

A small business owned by one person.

• sole proprietorship

• corporation

• nonprofit organization

• partnership

Partnership: This form of ownership gives businesses more capital and a better chance of success.

• advantage

• disadvantage

What is a business co-owned by two or more people?

• Corporation

• Partnership

• Sole Proprietorship

In a general partnership,

• the business continues even if one partner dies
• partners must pay specific business taxes on stock they issue
• partners usually draw up legal papers called articles of partnership.
• partners are only liable for the business' debt up to the amount of their investment