Chapter-2 ➤ Forms of Business Organisation 1. A_____partner is an owner who has unlimited liability and is active in managing the firm: senior partner. general partner. silent partner. limited partner. 2. A partner whose association with the firm is unknown to the general public is called Active partner Sleeping partner Nominal partner Secret partner 3. The capital of a company is divided into number of parts each one of which are called Share Dividend Profit Interest 4. Profits do not have to be shared. This statement refers to Company Sole proprietorship Joint Hindu family business Partnership 5. The board of directors of a joint stock company is elected by General public Government bodies Shareholders Employees 6. The form of business organization that has the largest sales volume is the: partnership. corporation. cooperative. multinational. 7. The structure in which there is separation of ownership and management as per law is called Company All business organisations Partnership Sole proprietorship 8. Co-operatives play an important role in: aerospace agriculture manufacturing all of the above 9. Hindu Succession Act was passed in ________ 1952 1960 1932 1956 10. The major advantage of a franchise is: training and management assistance. personal ownership. nationally recognized name. all of the above. Loading … Question 1 of 10
