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Class 11 Forms of Business Organisation worksheet
CBSE Business Studies. Sole proprietorship, Joint Hindu Family business, partnership and kinds of partners, cooperative societies, private and public companies. Every sheet has 20 questions in three sections and an answer key, and the numbers change every time.
Sample questions
Real questions from this chapter, as the app sets them. Tap Answer to see the answer and working.
Section A · multiple choice
- 1.
In a sole proprietorship, the liability of the owner is:
- limited by guarantee
- shared with the government
- limited to capital
- unlimited
Answer
(d) unlimited
- 2.
What is meant by “cooperative society”?
- a voluntary association of persons formed to protect their common interests
- the eldest member who manages a Joint Hindu Family business
- the written agreement setting out the terms of a partnership
- a company continues regardless of changes in its members
Answer
(a) a voluntary association of persons formed to protect their common interests
- 3.
Two chartered accountants join to run a firm and share profits equally. Which form of business organisation is this?
- private company
- one person company
- sole proprietorship
- partnership
Answer
(d) partnership
Section B · short answer
- 4.
What is meant by a sole proprietorship?
Answer
A business owned, managed and controlled by one person, who receives all the profit and bears all the risk.
- 5.
Explain each term: (a) limited liability (b) partnership deed
Answer
(a) loss is restricted to the capital invested (b) the written agreement setting out the terms of a partnership
Section C · long answer
- 6.
Explain the merits and limitations of a sole proprietorship.
Answer
Merits: quick decisions, secrecy, direct incentive, sense of accomplishment, ease of formation and closure. Limitations: limited resources, limited life, unlimited liability, limited managerial ability.
Fresh sheets for your child
In the app, every Forms of Business Organisation sheet is new: the app remembers the questions your child has already had and leaves them out. Print the sheet as a PDF, or use notebook mode and write the answers in a notebook.
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