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Business Studies MCQ Class 11 Chapter 2

1. The main disadvantage of a general partnership is _____.
(a) The unlimited liability of the partners
(b) Disagreement amongst partners
(c) Shared management
(d) Difficulty of termination

2. The life of sole proprietorship business is _______.
(a) Unstable
(b) Stable
(c) Very short life
(d) Long life

3. The major advantage of a franchise is _____.
(a) Training and management assistance
(b) Personal ownership
(c) Nationally recognised name
(d) All of the above

4. What is the limit of members in case of a Private Company?
(a) 2
(b) 7
(c) 10
(d) 50

5. The simplest form of business ownership is a _____.
(a) Proprietorship
(b) Partnership
(c) Corporation
(d) Cooperative

6. At least 10 adults, no maximum limit in case of ________.
(a) Cooperative Society
(b) Joint Hindu Family
(c) Partnership
(d) Company

7. Provision of residential accommodation to the members at reasonable rates is the objective of
(a) Consumers cooperative
(b) Credit cooperative
(c) Housing cooperative
(d) Producers cooperative

8. The form of business organisation that has the largest sales volume is the _____.
(a) Partnership
(b) Corporation
(c) Cooperative
(d) Multinational

9. Profits do not have to be shared. This statement refers to _____.
(a) Company
(b) Sole proprietorship
(c) Joint Hindu family business
(d) Partnership

10. The structure in which there is a separation of ownership and management as per law is called _____.
(a) Company
(b) All business organisations
(c) Partnership
(d) Sole proprietorship

11. The capital of a company is divided into number of parts each one of which are called _____.
(a) Share
(b) Dividend
(c) Profit
(d) Interest

12. Provision of residential accommodation to the members at reasonable rates is the objective of _____.
(a) Consumers cooperative
(b) Credit cooperative
(c) Housing cooperative
(d) Producers cooperative

13. The maximum number of partners allowed in the banking business are ______.
(a) Two
(b) Twenty
(c) No limit
(d) Ten

14. Which of the following is an advantage of a sole proprietorship?
(a) Ease of starting a business
(b) Being your own boss
(c) Pride of ownership
(d) All of the above

15. In a cooperative society, the principle followed is ______.
(a) One share, one vote
(b) One man, one vote
(c) No vote
(d) Multiple votes

16. A partner whose association with the firm is unknown to the general public is called _____.
(a) Active partner
(b) Sleeping partner
(c) Nominal partner
(d) Secret partner

17. In case of ______, registration is compulsory.
(a) Sole Proprietorship
(b) Partnership
(c) Company
(d) None of these

18. The Karta in the Joint Hindu family business has _____.
(a) No liability for debts
(b) Unlimited liability
(c) Joint liability
(d) Limited liability

19. A partner who is not actually involved in the partnership but lends his name for public relations purposes is a _____.
(a) Silent partner
(b) General partner
(c) Nominal partner
(d) Dominant partner

20. The structure in which there is separation of ownership and management as per law is called ______.
(a) Company
(b) All business organisations
(c) Partnership
(d) Sole proprietorship

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