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Worksheet - Unit 2 - Forms of Business Organizations

This document contains a worksheet with questions about different forms of business organizations, including sole proprietorships, partnerships, joint hindu family businesses, cooperatives, and joint stock companies. There are multiple choice and short answer questions testing understanding of key concepts like mutual agency, unlimited liability, prospectus contents, and features of different organizational structures. The questions are divided into sections A through E with varying point values. The document aims to assess understanding of the essential characteristics and comparisons of common business ownership and organizational models.

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718 views3 pages

Worksheet - Unit 2 - Forms of Business Organizations

This document contains a worksheet with questions about different forms of business organizations, including sole proprietorships, partnerships, joint hindu family businesses, cooperatives, and joint stock companies. There are multiple choice and short answer questions testing understanding of key concepts like mutual agency, unlimited liability, prospectus contents, and features of different organizational structures. The questions are divided into sections A through E with varying point values. The document aims to assess understanding of the essential characteristics and comparisons of common business ownership and organizational models.

Uploaded by

fredrick russel
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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SREE SHANTI ANAND VIDYALAYA

XI 80 Marks

Worksheet

Unit 2: Forms of Business organizations

Section A 1 Mark

1. Write the name of form of business organization found only in India.

2. Name two types of business in which sole proprietorship is very suitable.

3. Name the person who manages a Joint Hindu Family business.

4. Write the names of systems which govern membership in Joint Hindu Family
business.

5. Enumerate the two conditions necessary for formation of Joint Hindu Family
business.

6. What is the minimum no. of persons required to form a cooperative society?

7. Explain the meaning of unlimited liability.

8. Name the type of Co. which must have a minimum paid up capital of 5 lakhs.
Section B 3 Marks

9. Explain the concept of mutual agency in partnership with suitable example.

10. What is the rate of Karta in Joint Hindu Family business ?

11. Define prospectus. Name any three main contents of prospectus.

12. Write a short note on producer co-operative society. Explain a co-operative organization in
democratic setup.

13. Shiv, Anandi & John were partners John died in a car accident Both Shiv & Anandi decided to admit
his son Ryan who was 16 years old as partner. Can they do so? Justify.

Section C 4 Marks

14. What is secret partner?

15. Name the types of company which two persons can start.

16. What is meant by partner by estoppel?


17. Explain any four limitations of Joint Stock Company.
18. A, B & C were partners in a financing firm. B&C had gone for a meeting in America for analyzing
business prospects in that country. In the mean while, A invested a huge amount of money in buying
shares of a new company by borrowing money from Mr. X. This turned out to be a bad deal as the share
prices soon fell. When B&C came back they said they were not liable to pay to Mr. X as they did not take
the money. Were B&C right in doing so? Under which aspect of partnership are they bound ?
19. Rohan has a shop of stationary products. He takes assistance from his brother to handle it and pays him
a fixed salary. He also employed a 11 year old boy for his shop. Both the brothers regularly abuse him
and cut his wages as and when desired.
i) Which form of organization is referred here ?
ii) Write any one feature associated with it.
iii) Write any two values lacking in the brothers

Section D 5 Marks

20. Differentiate between private & public company

21. Mr. Amit Kumar is interested in the floatation of a company. Briefly discuss the steps he should take

22. Discuss the reasons of superiority of joint stock company over sole proprietorship and partnership.
Section E 6 Marks

23. Which form of business is suitable for following types of business and why ?
(a)Beauty Parlour
(b)Coaching Centre for science students
(c) H otel
(d)Shopping mall
(e)Restaurant
(f) Small retail business.

24. Dhirubhai Chaurasiya operates a textile business. His family is joint and has a lot of ancestral
property. All the 15 family members are a part of this business. He is the eldest male member in the
family so he heads the business. He is liable to all the creditors of the business as he is the decision
maker. Dhirubhai's grandson has just born a few days ago and he is also the member of the business.
(a) Which form of business is being undertaken by Dhirubhai Cni aurasiya .
(b)Identify the features of this form of business based on the information given.
(c)Textile business is part of which type of industry according to you ?

25. Every day Amul collects milk from 2.12 million farmers (manyilliterate) & converts the
milk into branded packaged products & delivers goods all over the country. The story of Amul
started in Dec, 1946 with a group of farmers been to free themselves from intermediaries, gain
access to the market & there by ensure maximum returns for their efforts"

(a) From the above information, identify the form of business organisation used
byAmul.
(b) Also quote the line which suggest its features ?
(c)According to you. Amul is part of which type of industry ?

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