Maharashtra State BoardHSC Commerce 11th
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Balbharati solutions for Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board chapter 4 - Forms of Business Organisation - 1 [Latest edition]

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Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board - Shaalaa.com

Chapter 4: Forms of Business Organisation - 1

Exercise Q.1Exercise Q.2Exercise Q.3Exercise Q.4Exercise Q.5Exercise Q.6Exercise Q.7Exercise Q.8
Exercise Q.1 [Pages 89 - 92]

Balbharati solutions for Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board Chapter 4 Forms of Business Organisation - 1 Exercise Q.1 [Pages 89 - 92]

Exercise Q.1 | Q 1.01 | Page 89

Select the correct option and rewrite the sentence.

A sole trading concern ensures _________ business secrecy.

  • Maximum

  • minimum

  • limited

Exercise Q.1 | Q 1.02 | Page 89

Select the correct option and rewrite the sentence.

The members of Hindu undivided family business are called___________

  • Carpenter

  • coparcener

  • parceners

Exercise Q.1 | Q 1.03 | Page 89

Select the correct option and rewrite the sentence.

The head of joint Hindu Family Business is called as ___________

  • KARTA

  • owner

  • manager

Exercise Q.1 | Q 1.04 | Page 89

Select the correct option and rewrite the sentence.

Registration of partnership firm is _________ in Maharashtra

  • Voluntary

  • compulsory

  • easy

Exercise Q.1 | Q 1.05 | Page 90

Select the correct option and rewrite the sentence.

The liability of the shareholders in the joint Stock Company is ________.

  • Limited

  • unlimited

  • restricted

Exercise Q.1 | Q 1.06 | Page 90

Select the correct option and rewrite the sentence.

A Joint Stock Company is an artificial person created by ________.

  • Law

  • Articles

  • Memorandum

Exercise Q.1 | Q 1.07 | Page 90

Select the correct option and rewrite the sentence.

Registration of a Joint Stock Company is ________.

  • Compulsory

  • free

  • not required

Exercise Q.1 | Q 1.08 | Page 90

Select the correct option and rewrite the sentence.

Liability of member of a Co-operative Society is ________.

  • Limited

  • restricted

  • maximum

Exercise Q.1 | Q 1.09 | Page 90

Select the correct option and rewrite the sentence.

Indian Co-operative Society’s Act was passed in ________.

  • 1912

  • 1913

  • 1911

Exercise Q.1 | Q 1.1 | Page 90

Select the correct option and rewrite the sentence.

_________acts as a signature of the company.

  • Common seal

  • Common sign

  • Common image

Exercise Q.1 | Q 2 | Page 90

Match the pairs.

Group ‘A’ Group ‘B’
A) Private Company 1) Karta
B) Public Company 2) Local Market
C) Common Seal 3) 1932
D) Partnership Act 4) Maximum 200 members
E) Joint Hindu Family Firms 5) One Man Show
  6) Minimum Seven members
  7) Minimum 10 members
  8) Signature of Company
  9 ) Maximum 100 members
  10) Manager
Exercise Q.1 | Q 3.1 | Page 90

Give one word/phrase/term.
An elected body of representatives of co-operative Society for its day to day administrations.

Exercise Q.1 | Q 3.2 | Page 90

Give one word/phrase/term.
The owner is the sole manager and decision maker of his business.

Exercise Q.1 | Q 3.3 | Page 90

Give one word/phrase/term.
One man Show type of business organisation.

Exercise Q.1 | Q 3.4 | Page 90

Give one word/phrase/term.
The members of the Joint Hindu Family firm.

Exercise Q.1 | Q 3.5 | Page 90

Give one word/phrase/term.
A partner who gives his name to the partnership firm.

Exercise Q.1 | Q 3.6 | Page 90

Give one word/phrase/term.
There is a free transferability of shares in this company.

Exercise Q.1 | Q 3.7 | Page 90

Give one word/phrase/term.
A partnership agreement in writing.

Exercise Q.1 | Q 3.8 | Page 90

Give one word/phrase/term.
The motto of the co-operative society.

Exercise Q.1 | Q 3.9 | Page 90

Give one word/phrase/term.
An organization which is service-oriented.

Exercise Q.1 | Q 4.01 | Page 91

State True or False:

Sole trader is the decision-maker of the business.

  • True

  • False

Exercise Q.1 | Q 4.02 | Page 91

State True or False:

Sole trading concern operates in local markets.

  • True

  • False

Exercise Q.1 | Q 4.03 | Page 91

State True or False:

Sole proprietorship is useful for small business.

  • True

  • False

Exercise Q.1 | Q 4.04 | Page 91

State True or False:

The liability of KARTA is unlimited.

  • True

  • False

Exercise Q.1 | Q 4.05 | Page 91

State True or False:

The maximum number of members is unlimited in Joint Hindu Family Firm.

  • True

  • False

Exercise Q.1 | Q 4.06 | Page 91

State True or False:

Joint Stock company can raise huge amount of capital.

  • True

  • False

Exercise Q.1 | Q 4.07 | Page 91

State True or False:

There is a separation of ownership & management in the Joint Stock Company.

  • True

  • False

Exercise Q.1 | Q 4.08 | Page 91

State True or False:

Board of Directors manages the business of Joint Stock Company.

  • True

  • False

Exercise Q.1 | Q 4.09 | Page 91

State True or False:

Partnership agreement may be oral or written.

  • True

  • False

Exercise Q.1 | Q 4.1 | Page 91

State True or False:

In a partnership firm, the liability of every partner is limited, joint and several.

  • True

  • False

Exercise Q.1 | Q 4.11 | Page 91

State True or False:

The main motto of co-operative society is to render services to its shareholders.

  • True

  • False

Exercise Q.1 | Q 4.12 | Page 91

State True or False:

The membership of a co-operative society is compulsory.

  • True

  • False

Exercise Q.1 | Q 5.1 | Page 91

Find the odd one.

  • Sole proprietorship

  • Joint Hindu Family

  • Non-Government Organization (NGO)

  • Partnership firm

Exercise Q.1 | Q 5.2 | Page 91

Find the odd one.

  • Active Partner

  • Shareholder

  • Nominal Partner

  • Secret partner

Exercise Q.1 | Q 6.01 | Page 91

Complete the sentence.

Private sector enterprises are owned and managed by the _____________

Exercise Q.1 | Q 6.02 | Page 91

Complete the sentence.

There is only one owner in _____________

Exercise Q.1 | Q 6.03 | Page 91

Complete the sentence.

Admission of new individual into existing business has given birth to _____________

Exercise Q.1 | Q 6.04 | Page 91

Complete the sentence.

A partner who takes active participation in the day to day working of the business is known as _____________

Exercise Q.1 | Q 6.05 | Page 91

Complete the sentence.

When there is no provision in partnership agreement regarding time period for partnership then it is known as _____________.

Exercise Q.1 | Q 6.06 | Page 91

Complete the sentence.

The property of JHF business is jointly owned by the ________

Exercise Q.1 | Q 6.07 | Page 91

Complete the sentence.

The management of Co-operative society is based on _______________.

Exercise Q.1 | Q 6.08 | Page 91

Complete the sentence.

The rule for voting in Co-operative society is __________.

Exercise Q.1 | Q 6.09 | Page 91

Complete the sentence.

The rule for voting in Joint stock company is __________.

Exercise Q.1 | Q 6.1 | Page 91

Complete the sentence.

The face value of the shares of Co-operative society is very _______.

Exercise Q.1 | Q 6.11 | Page 91

Complete the sentence.

Consumer’s co-operatives are formed by the _______.

Exercise Q.1 | Q 6.12 | Page 91

Complete the sentence.

Registration of Joint stock company is compulsory according to the Companies Act _______.

Exercise Q.1 | Q 7.1 | Page 92

Select the correct option:

A B
Minimum 2 and maximum 200 _____________
  • Public company

  • Private Company

  • Co-operative Society

  • Partnership Firm

  • Sole Trading concern

Exercise Q.1 | Q 7.2 | Page 92

Select the correct option:

A B
Minimum 10 and maximum no limit _____________
  • Public company

  • Private Company

  • Co-operative Society

  • Partnership Firm

  • Sole Trading concern

Exercise Q.1 | Q 7.3 | Page 92

Select the correct option:

A B
______________ Minimum 7 and maximum unlimited
  • Public company

  • Private Company

  • Co-operative Society

  • Partnership Firm

  • Sole Trading concern

Exercise Q.1 | Q 7.4 | Page 92

Select the correct option:

A B
Forms of business organisation ______________
  • Public company

  • Private Company

  • Co-operative Society

  • Partnership Firm

  • Sole Trading concern

Exercise Q.1 | Q 7.5 | Page 92

Select the correct option:

A B
Minimum 2 and maximum 50 ______________
  • Public company

  • Private Company

  • Co-operative Society

  • Partnership Firm

  • Sole Trading concern

Exercise Q.1 | Q 8.01 | Page 92

Answer in one sentence.

What is sole Trading concern?

Exercise Q.1 | Q 8.02 | Page 92

Answer in one sentence.

What do you mean by partnership firm?

Exercise Q.1 | Q 8.03 | Page 92

Answer in one sentence.

What is the meaning of Joint Stock Company?

Exercise Q.1 | Q 8.04 | Page 92

Answer in one sentence.

What is Joint Hindu Family business?

Exercise Q.1 | Q 8.05 | Page 92

Answer in one sentence.

What do you mean by co-operative Society?

Exercise Q.1 | Q 8.06 | Page 92

Answer in one sentence.

What do you mean by minor partner?

Exercise Q.1 | Q 8.07 | Page 92

Answer in one sentence.

What is Quasi Partner?

Exercise Q.1 | Q 8.08 | Page 92

Answer in one sentence.

What do you mean by partner-in-profits only?

Exercise Q.1 | Q 8.09 | Page 92

Answer in one sentence.

What do you mean by a general partnership?

Exercise Q.1 | Q 8.1 | Page 92

Answer in one sentence.

What is the meaning of Private Company?

Exercise Q.1 | Q 8.11 | Page 92

Answer in one sentence.

What do you mean by Public company?

Exercise Q.1 | Q 9.1 | Page 92

Correct the underlined word and rewrite the following sentence.

In public company, shares are not freely transferrable

Exercise Q.1 | Q 9.2 | Page 92

Correct the underlined word and rewrite the following sentence.

In Private Company, there are minimum 3 (Three) directors.

Exercise Q.1 | Q 9.3 | Page 92

Correct the underlined word and rewrite the following sentence.

Registration of Joint Stock Company is not compulsory.

Exercise Q.1 | Q 9.4 | Page 92

Correct the underlined word and rewrite the following sentence.

There is less secrecy in Sole Trading concern.

Exercise Q.1 | Q 9.5 | Page 92

Correct the underlined word and rewrite the following sentence.

In a Partnership firm, minimum three members are required.

Exercise Q.1 | Q 9.6 | Page 92

Correct the underlined word and rewrite the following sentence.

In Joint Hindu Family business, the senior most member of family is called as Co-parcener.

Exercise Q.1 | Q 9.7 | Page 92

Correct the underlined word and rewrite the following sentence.

Indian Partnership Act, 1940 is applicable in India.

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Exercise Q.2 [Pages 92 - 93]

Balbharati solutions for Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board Chapter 4 Forms of Business Organisation - 1 Exercise Q.2 [Pages 92 - 93]

Exercise Q.2 | Q 1 | Page 92

Explain the following term/concept:

Sole Trading Concern.

Exercise Q.2 | Q 2 | Page 92

Explain the following term/concept:

Partnership Firm.

Exercise Q.2 | Q 3 | Page 92

Explain the following term/concept:

Joint Hindu Family Firm.

Exercise Q.2 | Q 4 | Page 92

Explain the following term/concept:

Co-operative Society.

Exercise Q.2 | Q 5 | Page 93

Explain the following term/concept:

Joint Stock Company.

Exercise Q.2 | Q 6 | Page 93

Explain the following term/concept:

Karta.

Exercise Q.2 | Q 7 | Page 93

Explain the following term/concept:

Managing Committee.

Exercise Q.2 | Q 8 | Page 93

Explain the following term/concept:

Nominal Partner.

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Exercise Q.3 [Page 93]

Balbharati solutions for Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board Chapter 4 Forms of Business Organisation - 1 Exercise Q.3 [Page 93]

Exercise Q.3 | Q 1 | Page 93

Study the following case situation and express your opinion:

Mr. Raghunath is running a business from the last 30 years. This business is ancestoral business of Mr. Raghunath. Kiran and Naman, two sons of Mr. Raghunath are helping him along with their wives.

  1. Find out the type of business.
  2. Who is Raghunath?
  3. What Kiran and Naman are called?
Exercise Q.3 | Q 2 | Page 93

Study the following case situation and express your opinion:

Mr. Jumbo a Chartered Accountant by profession and Mrs. Timbo, an Architect by professing running a firm namely ‘Buildsheet’ in Nagpur.

  1. Identify a business in the above example.
  2. Comment on it?
  3. Which two professions are mentioned here?
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Exercise Q.4 [Page 93]

Balbharati solutions for Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board Chapter 4 Forms of Business Organisation - 1 Exercise Q.4 [Page 93]

Exercise Q.4 | Q 1 | Page 93

Distinguish between.

Private Limited Company and Public Limited Company.

Exercise Q.4 | Q 2 | Page 93

Distinguish between.

Sole Trading Concern and Partnership Firm.

Exercise Q.4 | Q 3 | Page 93

Distinguish between.

Partnership Firm and Joint Hindi Family.

Exercise Q.4 | Q 4 | Page 93

Distinguish between.

Co-operative Society and Joint Stock Company.

Exercise Q.4 | Q 5 | Page 93

Distinguish between.

Joint Hindu Family Firm and Joint Stock Company.

Exercise Q.4 | Q 6 | Page 93

Distinguish between.

Co-operative Society and Partnership Firm.

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Exercise Q.5 [Page 93]

Balbharati solutions for Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board Chapter 4 Forms of Business Organisation - 1 Exercise Q.5 [Page 93]

Exercise Q.5 | Q 1 | Page 93

Answer in brief.

State any four features of Sole Trading Concern.

Exercise Q.5 | Q 2 | Page 93

Answer in brief.

State any four types of partners.

Exercise Q.5 | Q 3 | Page 93

Answer in brief.

Describe any four types of Co-operative Society.

Exercise Q.5 | Q 4 | Page 93

Answer in brief.

State any four merits of the Joint Hindu Family Firm.

Exercise Q.5 | Q 5 | Page 93

Answer in brief.

State any four demerits of Joint Stock Company.

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Exercise Q.6 [Pages 93 - 94]

Balbharati solutions for Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board Chapter 4 Forms of Business Organisation - 1 Exercise Q.6 [Pages 93 - 94]

Exercise Q.6 | Q 1 | Page 93

Justify the following statement.

Liability of a ‘Sole trader’ is Unlimited.

Exercise Q.6 | Q 2 | Page 93

Justify the following statement.

Karta is the sole manager of ‘Joint Hindu Family Business’.

Exercise Q.6 | Q 3 | Page 93

Justify the following statement.

The main objective of Co-operative society is to provide services to its members.

Exercise Q.6 | Q 4 | Page 93

Justify the following statement.

A Joint Stock Company can raise huge capital.

Exercise Q.6 | Q 5 | Page 93

Justify the following statement.

The liability of Co-parceners is limited in ‘Joint Hindu Family Business’.

Exercise Q.6 | Q 6 | Page 93

Justify the following statement.

Sole proprietorship is useful for small business.

Exercise Q.6 | Q 7 | Page 94

Justify the following statement.

Co-operative society follows democratic principles.

Exercise Q.6 | Q 8 | Page 94

Justify the following statement.

There is separation of ownership and management in Joint Stock Company.

Exercise Q.6 | Q 9 | Page 94

Justify the following statement.

Shares of Private Limited Company are not freely transferable.

Exercise Q.6 | Q 10 | Page 94

Justify the following statement.

All partners are joint owners of the Partnership firm.

Exercise Q.6 | Q 11 | Page 94

Justify the following statement.

Active partners take active part in day to day management of partnership firm.

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Exercise Q.7 [Page 94]

Balbharati solutions for Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board Chapter 4 Forms of Business Organisation - 1 Exercise Q.7 [Page 94]

Exercise Q.7 | Q 1 | Page 94

Attempt the following:

Explain various types of Co-operative Society.

Exercise Q.7 | Q 2 | Page 94

Attempt the following:

Explain the features of the Joint Stock Company.

Exercise Q.7 | Q 3 | Page 94

Attempt the following:

Describe the features of the Co-operative Society.

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Exercise Q.8 [Page 94]

Balbharati solutions for Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board Chapter 4 Forms of Business Organisation - 1 Exercise Q.8 [Page 94]

Exercise Q.8 | Q 1 | Page 94

Attempt the following:

Explain the features of Sole Trading Concern.

Exercise Q.8 | Q 2 | Page 94

Attempt the following:

Explain different types of Partnership Firms.

Exercise Q.8 | Q 3 | Page 94

Attempt the following:

Explain different types of Partners.

Exercise Q.8 | Q 4 | Page 94

Attempt the following:

Explain the five features of Joint Stock Company.

Exercise Q.8 | Q 5 | Page 94

Attempt the following:

Explain the merits of a Co-operative Society.

Exercise Q.8 | Q 6 | Page 94

Attempt the following:

Explain the demerits of Partnership firm.

Exercise Q.8 | Q 7 | Page 94

Attempt the following:

Explain the merits of Joint Stock Company.

Exercise Q.8 | Q 8 | Page 94

Attempt the following:

Explain the features of a partnership firm.

Exercise Q.8 | Q 9 | Page 94

Attempt the following:

Explain the types of Co-operative Societies.

Exercise Q.8 | Q 10 | Page 94

Attempt the following:

Explain the demerits of Joint Stock Company.

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Chapter 4: Forms of Business Organisation - 1

Exercise Q.1Exercise Q.2Exercise Q.3Exercise Q.4Exercise Q.5Exercise Q.6Exercise Q.7Exercise Q.8
Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board - Shaalaa.com

Balbharati solutions for Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board chapter 4 - Forms of Business Organisation - 1

Balbharati solutions for Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board chapter 4 (Forms of Business Organisation - 1) include all questions with solution and detail explanation. This will clear students doubts about any question and improve application skills while preparing for board exams. The detailed, step-by-step solutions will help you understand the concepts better and clear your confusions, if any. Shaalaa.com has the Maharashtra State Board Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board solutions in a manner that help students grasp basic concepts better and faster.

Further, we at Shaalaa.com provide such solutions so that students can prepare for written exams. Balbharati textbook solutions can be a core help for self-study and acts as a perfect self-help guidance for students.

Concepts covered in Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board chapter 4 Forms of Business Organisation - 1 are Private Sector Organisations, Sole Trading Concern, Partnership Firm, Hindu Undivided Family Business or Joint Hindu Family Business, Co-operative Society, Joint Stock Company.

Using Balbharati 11th solutions Forms of Business Organisation - 1 exercise by students are an easy way to prepare for the exams, as they involve solutions arranged chapter-wise also page wise. The questions involved in Balbharati Solutions are important questions that can be asked in the final exam. Maximum students of Maharashtra State Board 11th prefer Balbharati Textbook Solutions to score more in exam.

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