BUSINESS STUDY (question Paper--2 )

MARKS 40 Time 90 Minutes

ONE MARK QUESTION

1. Who is primarily responsible for the lack of secrecy in a company organization.
2. Write any one limitation of partnership.
3. Write the full form of CIN.
4. Give the name of the assisting document of the Memorandum of Association.
5. In which business organization there is a lack of motivation.
6. What is business risk.
7. In which economic activity does the activity of a worker fall.
8. The crown as a name of a firm required permission from the
……………………partners/government
9. Doing business in fashion goods involves ………………………….risk . Less/More.
10. It is not necessary to call ………………………………meeting in a Private Co. Annual/Statutory
11. Industry + Commerce = ……………………………….Trade/Business.
12. The sole trade is useful for beauty parlour. True/Fals
13. The seasonal change happens to be the natural type business risk. True/Fals
14. A private company can commence business after incorporation. True/Fals
15. The buying and selling falls under business. True/Fals
16. Dishonesty of employee is the type of cause of business risk.
A) Human B) Natural C) Economic D) Government Policy
17. Minimum of number of member to form a private company is . a) 2 B) 3 C) 5 D) 7
18. Which of the following can be partner in an LLP ? A) Individual B) Other LLP C) Company D )
All of the Above.
19. Business risk is not likely to arise due to A) Change in Govt. Policy B) good Management C0
Employees dishonesty, D) Power failure.
20. Which of the following is not covered under the category of full-fledged partner. A) Acting
Partner b) Sleeping Partner C) Secret Partner D) Partner by holding out.

Three Marks Questions each

1. Who are the creator of producer’s cooperative societies?

2. Write any three limitations of sole trade.
3. what are the various types of industries?
4. List the documents required for the incorporation of a company

Four Marks Question each

1. If registration is optional, why do partnership firms willingly go through this legal formality
and get themselves registered. Explain.
2. What is a prospectus ? Is it necessary for every company to file it ?
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Five Marks Question each

1. What do you understand by a sole proprietorship firm ? Explain its merits and limitations.
2. Discuss the charter sticks , merits and limitation of cooperative form of organization. Also
describe briefly different type of cooperative societies.

Understanding based Question each marks two

Akhil Bhawans and Chanchal join together and set up a partnership organization. They do the
wholesale trade of GHEE , Sugar and pulses. They got a document prepared, which stated the
different terms and condition in order to run the partnership organization smoothly and
properly. Tell the name of documents prepared. Also clarify the values of this document
safeguards.