Test: Forms of Business Organisation- Case Based Type Questions - Commerce MCQ
12 Questions MCQ Test Business Studies (BST) Class 11 - Test: Forms of Business Organisation- Case Based Type Questions
Direction: Manish is a student pursuing final year B.Tech. from IIT Kharagpur. His father Mr. Sambal Singh who owned a small general store in Jaipur had a heart attack and became completely paralysed. There was no other source of income for the family, so, Manish left his studies and decided to take charge of his father’s general store. While checking the books of accounts, he found that his father had taken a loan of ₹ 2 lakhs from Bank of Baroda to be repaid this year only, but the business is running into losses due to his father’s illness. Hence, his mother advised him to close the business and to look for a job outside. On the basis of the given case, answer the following questions:
Q. The form of business organisation formed by Sambal Singh is:
Direction: Manish is a student pursuing final year B.Tech. from IIT Kharagpur. His father Mr. Sambal Singh who owned a small general store in Jaipur had a heart attack and became completely paralysed. There was no other source of income for the family, so, Manish left his studies and decided to take charge of his father’s general store. While checking the books of accounts, he found that his father had taken a loan of ₹ 2 lakhs from Bank of Baroda to be repaid this year only, but the business is running into losses due to his father’s illness. Hence, his mother advised him to close the business and to look for a job outside. On the basis of the given case, answer the following questions:
Q. Which of the following shows a merit and a demerit of the type of business organisation mentioned in the above case?
| 1 Crore+ students have signed up on EduRev. Have you? Download the App |
Direction: Manish is a student pursuing final year B.Tech. from IIT Kharagpur. His father Mr. Sambal Singh who owned a small general store in Jaipur had a heart attack and became completely paralysed. There was no other source of income for the family, so, Manish left his studies and decided to take charge of his father’s general store. While checking the books of accounts, he found that his father had taken a loan of ₹ 2 lakhs from Bank of Baroda to be repaid this year only, but the business is running into losses due to his father’s illness. Hence, his mother advised him to close the business and to look for a job outside. On the basis of the given case, answer the following questions:
Q. ”Loan of ₹ 2 lakhs from Bank of Baroda to be repaid this year only, but the business is running into losses.” Identify the nature of liability of the owner in the stated line.
Direction: Manish is a student pursuing final year B.Tech. from IIT Kharagpur. His father Mr. Sambal Singh who owned a small general store in Jaipur had a heart attack and became completely paralysed. There was no other source of income for the family, so, Manish left his studies and decided to take charge of his father’s general store. While checking the books of accounts, he found that his father had taken a loan of ₹ 2 lakhs from Bank of Baroda to be repaid this year only, but the business is running into losses due to his father’s illness. Hence, his mother advised him to close the business and to look for a job outside. On the basis of the given case, answer the following questions:
Q. ” ....decided to take charge of his father ’s general store.” As per the stated line, what will be the status that Manish holds in the business of his father?
Direction: Read the following text and answer the questions on the basis of the same:
Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.
Q. What type of a partner Himanshu is?
Direction: Read the following text and answer the questions on the basis of the same:
Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.
Q. If the partners are not able to complete the project effectively and efficiently, then who will be held liable for the losses incurred on account of noncompletion of project?
Direction: Read the following text and answer the questions on the basis of the same:
Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.
Q. Specify the kind of partnership mentioned in the above case.
Direction: Read the following text and answer the questions on the basis of the same:
Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.
Q. Name the written agreement which defines the terms and conditions of such partnership.
Direction: Read the following text and answer the questions on the basis of the same:
Ramkrishan Agrawal is running a Jewellery showroom at a prime location in Jaipur, which he inherited from his father. His joint family consists of his three sons and a younger brother, who are also working in the same showroom. Being head of the family, Ramkrishna takes all the decisions of business, which sometimes causes conflicts among the members. He decided to open one more branch, and the business took a loan of ` 1 crore from Syndicate Bank for three years. But opening of the new branch proved to be a wrong decision and the business suffered heavy losses. Due to financial crises, Ramkrishna had to pay a part of the loan amount from his self-acquired property.
Q. Which form of a business organisation does the above case indicate?
Direction: Read the following text and answer the questions on the basis of the same:
Ramkrishan Agrawal is running a Jewellery showroom at a prime location in Jaipur, which he inherited from his father. His joint family consists of his three sons and a younger brother, who are also working in the same showroom. Being head of the family, Ramkrishna takes all the decisions of business, which sometimes causes conflicts among the members. He decided to open one more branch, and the business took a loan of ` 1 crore from Syndicate Bank for three years. But opening of the new branch proved to be a wrong decision and the business suffered heavy losses. Due to financial crises, Ramkrishna had to pay a part of the loan amount from his self-acquired property.
Q. ”Due to financial crises, Ramkrishna had to pay a part of the loan amount from his self-acquired property.” Identify the reason which made him use his personal property to repay the loan.
Direction: Read the following text and answer the questions on the basis of the same:
Ramkrishan Agrawal is running a Jewellery showroom at a prime location in Jaipur, which he inherited from his father. His joint family consists of his three sons and a younger brother, who are also working in the same showroom. Being head of the family, Ramkrishna takes all the decisions of business, which sometimes causes conflicts among the members. He decided to open one more branch, and the business took a loan of ` 1 crore from Syndicate Bank for three years. But opening of the new branch proved to be a wrong decision and the business suffered heavy losses. Due to financial crises, Ramkrishna had to pay a part of the loan amount from his self-acquired property.
Q. ”Ramkrishna takes all the decisions of business, which sometimes causes conflicts among the members.” Identify the demerit of the type of business stated here.
Direction: Read the following text and answer the questions on the basis of the same:
Ramkrishan Agrawal is running a Jewellery showroom at a prime location in Jaipur, which he inherited from his father. His joint family consists of his three sons and a younger brother, who are also working in the same showroom. Being head of the family, Ramkrishna takes all the decisions of business, which sometimes causes conflicts among the members. He decided to open one more branch, and the business took a loan of ` 1 crore from Syndicate Bank for three years. But opening of the new branch proved to be a wrong decision and the business suffered heavy losses. Due to financial crises, Ramkrishna had to pay a part of the loan amount from his self-acquired property.
Q. ”But opening of new branch proved to be a wrong decision and the business suffered heavy losses.” Which of the following reasons best suits the given statement?
|
37 videos|146 docs|44 tests
|
|
37 videos|146 docs|44 tests
|
Top Courses for Commerce
Important Questions for Forms of Business Organisation- Case Based Type Questions
Forms of Business Organisation- Case Based Type Questions MCQs with Answers
Online Tests for Forms of Business Organisation- Case Based Type Questions Business Studies (BST) Class 11
|
© EduRev
|
Education Revolution
|
Follow Us
|
