Business organisation and Management - Unit 2

In a sole Trading concern libiality is

Answer explanation

As sole proprietor is the only person who is acting in the business his liability is unlimited

Forms of business organisations

• A.Hindu undivided family

• B.Partnership firm

• C. sole proprietor

• D. None of the above

• E.A,B,C

In HUF members of the family are called as

• A. Share holders

• B. Partners

• C. Coparceners

• D.Owners

Registration of partnership deed is mandatory

• A.Yes

• B.No

Answer explanation

Registration of partnership deed is not mandatory ,it is at the discretion of the members,but to file a law suit or to represent anywhere on behalf of the firm it must be registered.

A partner who takes active interest in the day- to- day work and management of the business is known as

A person who is not a partner of the firm and does not contribute to capital, but behaves or expresses himself as a partner of the Business is called

• A.Sleeping partner

• B.Active partner

• C.partner by ESTOPPEL.

• D.partner by holding out

Head of the family in case of HUF is called as

Certificate of commencement of business is required for operating a

• A.public company

• B.Private company

• C.Both of the above

• D.None of the above

Company is a — person

A company which comes in to existence by a special act of the parliament or legislature is called

• A.Chartered companies

• C.Registered companies

• D.Statutory companies