BUSINESS CHAPTER 2

Provision of residential accommodation to the members at reasonable rates is the objective of

• consumers cooperative

• credit cooperative

• housing cooperative

• producers cooperative

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

• company

• all business organizations

• partnership

• sole proprietorship

Which of the following business enterprises does not have a separate legal entity?

• sole proprietorship

• partnership

• company

• cooperative society

__________ company does not invite the public to subscribe to its share capital.

• both private and public

• public company

• private company

• none of the above

The maximum number of partners allowed in the banking business are

• ten

• no limit

• twenty

• two

It is a form of business organization which is owned, managed, and controlled by an individual who is the recipient of all profits and bearer of all risks. Identify the concept.

• cooperative society

• company

• sole proprietorship

• none of these

Which of the following statement is NOT true about a minor partner?

• he has to bear losses also

• he can inspect book of accounts

• both a and b

• he shares only profit

_______ company needs to have only two directors.

• public company

• sole proprietor

• private company

• none of these

Which one of the following is the CORRECT sequence of stages in the formation of a company?

• Promotion, incorporation, capital subscription, the commencement of business

• Incorporation, capital subscription, promotion, the commencement of business

• Promotion, the commencement of business, incorporation, capital subscription

• Promotion, Incorporation, Certificate of commencement, capital subscription

At least 10 adults, no maximum limit in case of ________

• cooperative society

• joint hindu family

• partnership

• company