CBSE Class 11 Business Studies Forms of Business Organisation Assignment Set 02

Fill in the Blanks:

Question. Hindu Undivided Family Business is governed by __________ act 1956.
Answer: Hindu succession

Question. The maximum number of shareholders in any Private company is _________
Answer: 200

Question. There is __________ restriction on transfer of share.
Answer: No

Question. Forms of Business which is suitable for small business is ___________ .
Answer: Sole Proprietorship

Question.The head of the family, in Hindu Undivided family is called __________ .
Answer: Karta

True/False Answer Questions

Question. Members of any Private Ltd. Company cannot transfer his shares without permission of shareholders.
Answer: True

Question. Sole proprietors have limited liability.
Answer: False

Question. If a company suffers heavy issues and its assets are not enough to payoff its liabilities, the balance can be recovered from the private assets of its members.
Answer: False

Question. In a joint stock professional management is not possible .
Answer: False

Question. The cooperative society can be started with a minimum of two members.
Answer: False

Question. Statement in lieu of prospectus can be filed by a public company going for a public issue.
Answer: False

Question. A company can ratify preliminary contracts after incorporation.
Answer: True

Question. Appointment of underwriters is necessary in the capital subscription stage.
Answer: False

Question. If a company is registered on the basis of fictitious names, its incorporation is invalid.
Answer: False

Question. Every company must file Articles of Association.
Answer: False

One word Answer type Questions :

Question. What is the basis of membership in the Joint Hindu Family Business?
Answer: Birth in a particular family.

Question. In which form of organisation is a trade agreement made by one owner binding on the others?
Answer: Partnership.

Question. Name the basic document prepared in partnership firm.
Answer: Partnership deed

.Question. Name the enterprise involving single ownership.
Answer: Sole proprietorship.

Question. Which business organisation is least advantageous on the basis of availability of capital?
Answer: Sole proprietorship.

Question. Which is the least regulated form of business?
Answer: Sole proprietorship.

Question. Mr. Gurpreet wants to apply for the shares of ACC Ltd. From which document he will get the details.
Answer: Prospectus.

Question. “Employees Union of Bharat Textiles start a retail store to make daily household articles at reasonable prices available to its members.” Name this form of business organisation.
Answer: Cooperative society (Consumers’ cooperative society).

Question. Name the type of partner who contributes capital and also takes active participation in the management of the firm.
Answer: Active partner.

Question. Whose decisions are binding on all the members of the Joint Hindu Family Business?
Answer: Karta.

Question. Define partnership deed.
Answer: The document containing the terms and conditions of the partnership agreement is called partnership deed.

Question. Name the form of business organisation which can be formed by an oral agreement between the members.
Answer: Partnership.

Question. What happens to Joint Hindu Family Business if Karta or any other member dies?
Answer: Business continues.

Question. A company get registered with an illegal object. Can the registration be questioned?
Answer: No, the registration cannot be questioned if the registrar has already issued the Certificate of Registration.

Question. Which type of company cannot invite public to subscribe to its share capital?
Answer: Private company.

Question. List the minimum number of directors required in case of private and public company.
Answer: (a) Private company-2. (b) Public company-3.