Worksheet on Chapter 2 Forms of Business Organisation | Class 11 Business Studies | Important Questions from Chapter - 2 , Forms of Business Organisation

Try these questions from Chapter 1 of Class 11 Business Studies 

1. List the various forms of business organisations.
2. Comment on the liability of a sole proprietor.
3. Which form of business organisation is best if the owner wants to enjoy complete control over the business?
4. "One man control is best in the world if that one man is big enough to manage everything". This statement is given by W.R. Basset . Do you agree with the statement? Give reasons for your answer. 
5. The business assets of an organisation amount to Rs 50,000 but the debts that remain unpaid are Rs 80,000. What course of action can the creditors take if the organisation is a sole proprietorship firm. 
6. The business assets of an organisation amount to Rs 50,000 but the debts that  remain unpaid are Rs 80,000. What course of action can the creditors take if the organisation is a partnership firm with Anthony and Akbar as partners?
7. Name the act which governs the joint hindu family business.
8. State the minimum and maximum number of members in case of a joint hindu family business.
9. Comment on the liability of karta and coparceners in a joint hindu family business.
10. Who is responsible for taking decisions in a joint hindu family business?
11. Can a minor become member of a joint hindu family business? Give reason for your answer.
12. What is the maximum number of partners in a partnership firm? Under which act, this maximum number has been mentioned? 
13. What do you mean by partnership deed ? 
14. State any two benefits of partnership deed.
15. Is registration of partnership compulsory? 
16. Which act governs the provisions of partnership business? 
17. Ajay and Sanjay has formed a  partnership for production of a short movie for spreading awareness on environmental protection. Name the type of this partnership on the basis of duration.
18. Name the type of partnership in which atleast one partner must have an unlimited liability and other partners may have a limited liability. 
19. Name the type of partner whose association with the firm is unknown to the general public. 
20. A group of 55 persons wish to form a partnership business together. Can they do so? Why or why not?
21. Six persons wish to form a cooperative society together. Can they do so? Give reason. 
22. Which act governs the provisions of a cooperative society? 
23. All the members of a company sitting in a general meeting were killed by a bomb. Was the company wound up?
24. Two friends Harsh and Mohit wish to form a public company together. Can they do so? Give reason. 
25. Is registration of a joint stock company compulsory? 

Assertion and Reasoning Based Questions from Chapter 2 of Class 11 Business Studies :

In each of the questions given below, there are two statements marked as Assertion (A) and Reason (R). Mark your answer as per the codes provided below:

a. Both A and R are true and R is the correct explanation of A.

b. Both A and R are true but R is not the correct explanation of A.

c. A is true but R is false.

d. A is false but R is true.

e. Both A and R are false.

1. Assertion: The liability of a sole proprietor is limited to the capital contributed by him.

Reason: A sole proprietor has an unlimited liability. 

2. Assertion: A minor can not become a member of a joint hindu family business.

Reason: A person must be of 18 years of age to become a member of joint hindi family business. 

3. Assertion: Maximum number of partners in a partnership firm is 50.

Reason: Maximum number of partners in a partnership firm is prescribed in Indian Partnership Act, 1932.

4. Assertion: It is compulsory to have partnership deed in partnership business. 

Reason: Partnership deed is a written agreement among partners which helps in settling disputes among them. 

5. Assertion: All the members of a company sitting in a general meeting were killed by a bomb. The company is still not wound up. 

Reason: The company has a feature of perpetual succession.