CBSE Class 12 Entrepreneurship Forms of Business Organisation Worksheet Set 01

Official Class 12 Entrepreneurship Worksheets: Forms of Business Organisation

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Chapter-wise Practice Material: Forms of Business Organisation

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FORMS OF BUSINESS ORGANISATION
 
Multiple Choice Questions
 
1 Which is the oldest, simplest and most popular form of business organization?
(a) Partnership                  (c) Joint Hindu Family Business
(b) Sole Proprietorship      (d) Co-operative Societies
 
2 Changing the form of raw material into finished product is :
(a) Form utility      (c) Time utility
(b) Place utility      (d) Trading
 
3 It is a tax on manufacture or production of goods:
(a) Customs duty     (c) excise duty
(b) Sales tax            (d) VAT
 
4 Ownership can be transferred in --------
(a) Employment      (c) Business
(b) Profession          (d) None of these.
 
 Fill in the blanks:
 
5--------is an activity in which an individual regularly for others and gets remuneration in return
 
6 ------------------is a ten digit alpha-numeric number which is needed by all those who are responsible for deducting and collecting tax on behalf of the government.
 
7 State the following statement is True/False. Employees Provident Fund is applicable to non-seasonal factories employing 10 or more persons.
 
8 What is meant by partnership? State the consequences of non-registration of a partnership firm.Rajiv was engaged in toy manufacturing business and was earning good profits. Out of his profits he purchased two houses in a good residential locality. Nilesh, Rajiv’s friend asked him to sell one of his houses to him as Nilesh was in need of the same. Rajiv agreed and sold one of his houses to Nimesh at a good profit.
Giving reason in support of your answer state whether the sale of house by Rajiv will be treated as business. State any two essential features of a business
 
9 List any two categories of persons that are required to obtain registration from ‘Central Excise Department’.
 
10 What is meant by ‘mutual agency of partners’?
 
11 Explain the forms of utilities which are resulted from business.
 
12 Define a Company. When is company form of business suitable?
 
13 Bob, Penny, Honey and Lilly were childhood friends. They studied together till class XII. Bob and Penny became doctors and Honey and Lilly became Engineers. All of them had good earnings. They were creative and innovative and wanted to start a business. Bob and Penny gave an idea to manufacture a machine which would help the surgeons in doing surgery without much blood loss. Honey and Lilly agreed to it, but they were short of capital. They estimated that
approximately Rs.2 crores would be required to finance the project, which would be collected by them from their friends and relatives. They also wanted that their private properties should not be used to pay off the liabilities of the business.
 
(i) Considering the above facts suggest the suitable ‘type of business organization’ to be formed.
(ii) State any three features of the suggested type of business organization, including the one stated in the above para.
(iii) List any four privileges of this type of business organization.
 
14 Kareem after completing his XII class from his villager school joined the course of electrician in an ITI in a town near his village. On completion of this course, he tried for a government job but could not get the same. He therefore, decided to work as a helper to a renowned electrician of the area. After working with him for 2 years, he decided to start his own electrician shop in the village. For this he purchased equipment of Rs.10,000 and hired a shop at a monthly rent of Rs.2,000. He himself managed the shop.
(a) Identify the kind of business organization set up by Kareem.
(b) State any four characteristics of the identified form of business organization
 
15 Mention the factors affecting the selection of form of Business organization.


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Forms of Business Organisation Practice Sheet and Solutions for Class 12 Entrepreneurship

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FAQs

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Are these Entrepreneurship Class 12 worksheets based on the 2026-27 competency-based pattern?

Yes, our CBSE Class 12 Entrepreneurship Forms of Business Organisation Worksheet Set 01 includes a variety of questions like Case-based studies, Assertion-Reasoning, and MCQs as per the 50% competency-based weightage in the latest curriculum for Class 12.

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Yes, we have provided detailed solutions for CBSE Class 12 Entrepreneurship Forms of Business Organisation Worksheet Set 01 to help Class 12 and follow the official CBSE marking scheme.

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Daily practice with these Entrepreneurship worksheets helps in identifying understanding gaps. It also improves question solving speed and ensures that Class 12 students get more marks in CBSE exams.

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