Commerce Exam  >  Commerce Notes  >  Business Studies (BST) Class 11  >  Very Short Answer Questions: Forms of Business Organisation

Very Short Answer Questions: Forms of Business Organisation | Business Studies (BST) Class 11 - Commerce PDF Download

Q1: Varun is the only owner of his restaurant. Name the form of business organization.
Ans:
Sole proprietorship.  

Q2: Name the form of organization found only in India  
Ans: 
Joint Hindu Family.

Q3: List two merits of Sole proprietorship.
Ans:
(i) Single ownership
(ii) Full control.  

Q4: Name any one business in which sole proprietorship is most suitable.  
Ans:
Tailoring  

Q5: Name the type of partnership which is formed to accomplish a specific project for a specific time.  
Ans:
Particular partnership  

Q6: State any one consequence of non registration of a partnership firm.  
Ans:
An unregistered firm cannot file a case against third parties.  

Q7: What is the minimum number of persons required to form a cooperative society?  
Ans:
Ten  

Q8: Name the type of company which can invite the public to subscribe for the shares or debentures.
Ans:
Public.  

Q9: Name the process by which a joint stock company is registered.  
Ans:
Incorporation.  

Q10: Name the document which defines the object and powers of the company.  
Ans:
Memorandum of Association.  

The document Very Short Answer Questions: Forms of Business Organisation | Business Studies (BST) Class 11 - Commerce is a part of the Commerce Course Business Studies (BST) Class 11.
All you need of Commerce at this link: Commerce
37 videos|146 docs|44 tests

Top Courses for Commerce

FAQs on Very Short Answer Questions: Forms of Business Organisation - Business Studies (BST) Class 11 - Commerce

1. What are the different forms of business organization?
Ans. The different forms of business organization include sole proprietorship, partnership, corporation, cooperative, and franchise.
2. What is a sole proprietorship?
Ans. A sole proprietorship is a form of business organization where a single individual owns and operates the business. The owner has complete control and is personally liable for all debts and liabilities.
3. What is a partnership?
Ans. A partnership is a form of business organization where two or more individuals share ownership and management of the business. Each partner contributes to the business and is personally liable for its debts and obligations.
4. What is a corporation?
Ans. A corporation is a legal entity that is separate and distinct from its owners. It is owned by shareholders and managed by a board of directors. The shareholders have limited liability, and the corporation can raise capital by issuing stocks.
5. What is a franchise?
Ans. A franchise is a form of business organization where an individual or company (franchisee) is granted the right to operate a business using the brand, products, or services of another company (franchisor). The franchisee pays fees or royalties to the franchisor in exchange for the right to use the established business model.
37 videos|146 docs|44 tests
Download as PDF
Explore Courses for Commerce exam

Top Courses for Commerce

Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev
Related Searches

past year papers

,

Extra Questions

,

Sample Paper

,

study material

,

Objective type Questions

,

Very Short Answer Questions: Forms of Business Organisation | Business Studies (BST) Class 11 - Commerce

,

Very Short Answer Questions: Forms of Business Organisation | Business Studies (BST) Class 11 - Commerce

,

Important questions

,

practice quizzes

,

Semester Notes

,

Free

,

shortcuts and tricks

,

ppt

,

video lectures

,

Previous Year Questions with Solutions

,

pdf

,

Summary

,

MCQs

,

Viva Questions

,

Exam

,

Very Short Answer Questions: Forms of Business Organisation | Business Studies (BST) Class 11 - Commerce

,

mock tests for examination

;