1. The structure in which there is separation of ownership and management is called
(a) Sole proprietorship (b) Partnership
(c) Company (d) All business organisations
2. The karta in Joint Hindu family business has
(a) Limited liability (b) Unlimited liability
(c) No liability for debts (d) Joint liability
3. In a cooperative society the principle followed is
(a) One share one vote (b) One man one vote
(c) No vote (d) Multiple votes
4. The board of directors of a joint stock company is elected by
(a) General public (b) Government bodies
(c) Shareholders (d) Employees
5. Profits do not have to be shared. This statement refers to
(a) Partnership (b) Joint Hindu family business
(c) Sole proprietorship (d) Company
6. The capital of a company is divided into number of parts each one of which are called
(a) Dividend (b) Profit
(c) Interest (d) Share
7. The Head of the joint Hindu family business is called
(a) Proprietor (b) Director
(c) Karta (d) Manager
8. Provision of residential accommodation to the members at reasonable rates is the objective of
(a) Producer’s cooperative (b) Consumer’s cooperative
(c) Housing cooperative (d) Credit cooperative
9. A partner whose association with the firm is unknown to the general public is called
(a) Active partner (b) Sleeping partner
(c) Nominal partner (d) Secret partner
1. (iii) company
2. (ii) unlimited liability
3. (ii) one shares one vote
4. (iii) shareholders
5. (iii) sole proprietorship
6. (iv) share
7. (iii) karta
8. (iii) housing cooperative
9. (iv) secret partner
NCERT questions are designed to test your understanding of the concepts and theories discussed in the chapter. Here are some tips to help you answer NCERT questions effectively:
1. (iii) company
2. (ii) unlimited liability
3. (ii) one shares one vote
4. (iii) shareholders
5. (iii) sole proprietorship
6. (iv) share
7. (iii) karta
8. (iii) housing cooperative
9. (iv) secret partner...
Step-by-step explanation:
• 1
• (iii) company
• 2
• (ii) unlimited liability
• 3
This question is important because it tests key concepts from the NCERT syllabus and is frequently asked in CBSE exams.
This question is based on core NCERT concepts explained in the chapter and should be revised thoroughly before exams.
Students often lose marks by skipping steps, writing incomplete explanations, or misunderstanding keywords used in the question.
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