HSC Commerce 12th Board ExamMaharashtra State Board
Share
Notifications

View all notifications

Micheal Vaz solutions for 12th Board Exam OCM chapter 1 - Forms of Business Organisations

Login
Create free account


      Forgot password?

Chapters

Micheal Vaz Micheal Vaz Class 12 Organisation of Commerce and Management

Micheal Vaz Class 12 Organisation of Commerce and Management - Shaalaa.com

Chapter 1: Forms of Business Organisations

Select the proper optionMatch the correct pairsWrite a word or a phraseDistinguish between the followingWrite short notes on the followingWrite short answer of the followingTrue or falseLong answer type questionLong answer type questions

Micheal Vaz solutions for 12th Board Exam OCM Chapter 1 Exercise Select the proper option [Pages 35 - 37]

Select the proper option | Q 1 | Page 35

Select the proper option from the options given below and rewrite the completed sentence.
A sole proprietorship is the ________ form of organization.

  • private sector

  • public sector

  • none of

Select the proper option | Q 2 | Page 35

Select the proper option from the options given below and rewrite the completed sentence.
A sole proprietorship has ________ owner/owners.

  • one

  • two

  • unlimited

Select the proper option | Q 3 | Page 36

Select the proper option from the options given below and rewrite the completed sentence.
A proprietor has ________ liability.

  • unlimited

  • limited

  • restricted

Select the proper option | Q 4 | Page 36

Select the proper option from the options given below and rewrite the completed sentence.
A sole trading concern ensures ________ business secrecy.

  • minimum

  • maximum

  • limited

Select the proper option | Q 5 | Page 36

Select the proper option from the options given below and rewrite the completed sentence.
Business organization which is controlled by Hindu succession Act is known as ________

  • Joint stock company

  • partnership firm

  • Joint Hindu family firm

Select the proper option | Q 6 | Page 36

Select the proper option from the options given below and rewrite the completed sentence.
The members of Hindu Undivided family business are called ________

  • Karta

  • partners

  • co-parceners

Select the proper option | Q 7 | Page 36

Select the proper option from the options given below and rewrite the completed sentence.
Limited managerial skill is the ________ of Joint Hindu family business.

  • feature

  • limitation

  • advantage

Select the proper option | Q 8 | Page 36

Select the proper option from the options given below and rewrite the completed sentence.
The Karta in Joint Hindu family Business has ________ Liability.

  • Unlimited

  • limited

  • joint

Select the proper option | Q 9 | Page 36

Select the proper option from the options given below and rewrite the completed sentence.
The Head of Joint Hindu family Business is called as ________.

  • Proprietor

  • Karta

  • Director

Select the proper option | Q 10 | Page 36

The maximum number of partners for a firm carrying on banking business is .............. .

  • ten

  • twenty

  • seven

Select the proper option | Q 11 | Page 36

Indian Partnership Act was passed in the year...............................

  • 1912

  • 1923

  • 1932

Select the proper option | Q 12 | Page 36

Select the proper option from the options given below and rewrite the completed sentence.
Registration of partnership firm is ________ in Maharashtra.

  • Compulsory

  • no compulsory

  • optional.

Select the proper option | Q 13 | Page 36

Select the proper option from the options given below and rewrite the completed sentence.
In partnership firm the liability of partners is ________.

  • limited

  • unlimited

  • non of above.

Select the proper option | Q 14 | Page 36

Select the proper option from the options given below and rewrite the completed sentence.
In a partnership firm every partner is the principal as well as the ________.

  • agent

  • karta

  • partner

Select the proper option | Q 15 | Page 36

Select the proper option from the options given below and rewrite the completed sentence.
At least ________ persons are required to form a partnership firm.

  • two

  • one

  • three

Select the proper option | Q 16 | Page 36

Select the proper option from the options given below and rewrite the completed sentence.
The maximum number of members in a private limited company are ________

  • 50

  • 40

  • 20

Select the proper option | Q 17 | Page 36

Select the proper option from the options given below and rewrite the completed sentence.
The liability of the shareholders in the public limited joint stock company is ________.

  • limited

  • unlimited

  • collectively

Select the proper option | Q 18 | Page 36

Select the proper option from the options given below and rewrite the completed sentence.
The elected representatives of shareholders are called ________.

  • Directors

  • Members

  • Owners

Select the proper option | Q 19 | Page 37

Select the proper option from the options given below and rewrite the completed sentence.
A joint stock company is an Artificial person created by ________.

  • law

  • public

  • directors

Select the proper option | Q 20 | Page 37

Select the proper option from the options given below and rewrite the completed sentence.
Registration of a Joint stock company is ________.

  • compulsory

  • not necessary

  • optional

Select the proper option | Q 21 | Page 37

Select the proper option from the options given below and rewrite the completed sentence.
The minimum numbers of persons required for the registration of a private company is ________.

  • 5

  • 2

  • 7

Select the proper option | Q 22 | Page 37

Select the proper option from the options given below and rewrite the completed sentence.
The minimum number of Directors in a public company are ________.

  • two

  • three

  • five.

Select the proper option | Q 23 | Page 37

Select the proper option from the options given below and rewrite the completed sentence.
The minimum amount of paid up capital for public company is ________.

  • Five lakhs

  • one lakh

  • ten lakhs

Select the proper option | Q 24 | Page 37

Select the proper option from the options given below and rewrite the completed sentence.
The minimum of members allowed in a co-operative society is ________.

  • 20

  • 10

  • 7

Select the proper option | Q 25 | Page 37

Select the proper option from the options given below and rewrite the completed sentence.
In a co-operative society the principle followed is ________.

  • one share one vote

  • one man one vote

  • on vote.

Select the proper option | Q 26 | Page 37

Select the proper option from the options given below and rewrite the completed sentence.

The Co-operative societies act was passed in the year ____________

  • (a) 1932
  • (b) 1912
  • (c) 1956

Select the proper option | Q 27 | Page 37

Select the proper option from the options given below and rewrite the completed sentence.
The Maharashtra State co-operative societies Act was came in force in ________.

  • 1956

  • 1960

  • 1932

Select the proper option | Q 28 | Page 37

Select the proper option from the options given below and rewrite the completed sentence.
While selecting the place of business _______ is important.

  • locality

  • region

  • capital

Select the proper option | Q 29 | Page 37

Select the proper option from the options given below and rewrite the completed sentence.
From the point of continuity ________ business organizations is the most suitable.

  • company

  • partnership

  • sole proprietorship

Micheal Vaz solutions for 12th Board Exam OCM Chapter 1 Exercise Match the correct pairs [Pages 37 - 38]

Match the correct pairs | Q 1 | Page 37

Match the correct pairs.

 

  Group “A”   Group “B”
a) Private company 1) Compulsory
b)  Public company 2) Minimum 7 members
c) Common Seal 3) Maximum 50 members
d) Registration of a company 4) 61% share capital
e) Government company 5) 51% share capital
    6) Symbol of a company
    7) Optional
    8) Simple formation
    9) Easy dissolution
    10) Hindu succession Act 1956
Match the correct pairs | Q 2 | Page 38

Match the correct pairs.

Micheal Vaz solutions for 12th Board Exam OCM Chapter 1 Exercise Write a word or a phrase [Page 38]

Write a word or a phrase | Q 1 | Page 38

Write a word or a phrase or a term which can substitute the following.
The business organization which has minimum ten members.

Write a word or a phrase | Q 2 | Page 38

Write a word or a phrase or a term which can substitute the following.
The type of commercial organization established for providing services to its members.

Write a word or a phrase | Q 3 | Page 38

Write a word or a phrase or a term which can substitute the following.
An elected body of representatives of a co-operative organization for its day-to-day administration.

Write a word or a phrase | Q 4 | Page 38

Write a word or a phrase or a term which can substitute the following.
The rules and regulations laid down by the managing committee of a co-operative organization.

Write a word or a phrase | Q 5 | Page 38

Write a word or a phrase or a term which can substitute the following.
The owner is the sole manager and decision maker of his business.

Write a word or a phrase | Q 6 | Page 38

Write a word or a phrase or a term which can substitute the following.
The commercial organization which has maximum secrecy.

Write a word or a phrase | Q 7 | Page 38

Write a word or a phrase or a term which can substitute the following.
'One man show' type of business organization.

Write a word or a phrase | Q 8 | Page 38

Write a word or a phrase or a term which can substitute the following.
An artificial person created by law.

Write a word or a phrase | Q 9 | Page 38

Write a word or a phrase or a term which can substitute the following.
The senior most family member of joint Hindu family firm.

Write a word or a phrase | Q 10 | Page 38

Write a word or a phrase or a term which can substitute the following.
The members of the Joint Hindu family firm.

Write a word or a phrase | Q 11 | Page 38

Write a word or a phrase or a term which can substitute the following.

A partner who gives his name to a partnership firm.

Write a word or a phrase | Q 12 | Page 38

Write a word or a phrase or a term which can substitute the following.
A partner in partnership firm who takes active participation in day to day work.

Micheal Vaz solutions for 12th Board Exam OCM Chapter 1 Exercise Distinguish between the following [Pages 38 - 380]

Distinguish between the following | Q 1 | Page 380

Distinguish between the following.
Sole Trading concern and partnership firm.

Distinguish between the following | Q 2 | Page 38

Distinguish between the following.
Joint Hindu family firm and Sole Trading concern

Distinguish between the following | Q 3 | Page 38

Distinguish between the following.
Joint Hindu Family firm and Partnership

Distinguish between the following | Q 4 | Page 38

Distinguish between the following.
Partnership firm and Joint Stock company

Distinguish between the following | Q 5 | Page 38

Distinguish between the following.
Joint Hindu family firm and Joint stock company

Distinguish between the following | Q 6 | Page 38

Distinguish between the following.
Private Limited company and Public limited company

Distinguish between the following | Q 7 | Page 38

Distinguish between the following.
Sole trading concern and Joint stock company

Micheal Vaz solutions for 12th Board Exam OCM Chapter 1 Exercise Write short notes on the following, Write short answer of the following, Distinguish between the following [Pages 38 - 39]

Write short notes on the following | Q 1 | Page 38

Write short notes on the following.
Features of a proprietorship

Write short notes on the following | Q 2 | Page 38

Write short note on the following.
Merits of a proprietorship

Write short answer of the following | Q 3 | Page 38

Write short note on the following.
Features of partnership firm.

Distinguish between the following | Q 4 | Page 38

Write short note on the following.
Type of partners

Distinguish between the following | Q 5 | Page 39

Write short note on the following.
Merits of a partnership firm

Distinguish between the following | Q 6 | Page 39

Write short note on the following.
Type of partnership firm.

Distinguish between the following | Q 7 | Page 39

Write short note on the following.
Features of Joint Hindu family.

Distinguish between the following | Q 8 | Page 39

Write short note on the following.
Merits of Joint Hindu family

Write short answer of the following | Q 9 | Page 39

Write short note on the following.
Features of Joint Stock company

Distinguish between the following | Q 10 | Page 39

Write short note on the following.
Merits of Joint stock company.

Write short answer of the following | Q 11 | Page 39

Write short answer of the following.
State the features of co-operative society

Distinguish between the following | Q 12 | Page 39

Write short note on the following.
Merits of Co-operative society.

Write short answer of the following | Q 13 | Page 39

Write short note on the following.
Demerits of Co-operative society

Micheal Vaz solutions for 12th Board Exam OCM Chapter 1 Exercise True or false [Pages 3 - 39]

True or false | Q 1 | Page 3

State with reasons whether the following statement true or false.
There is no limit for membership in Joint Hindu family Business.

  • True 

  • False 

True or false | Q 2 | Page 39

State with reasons whether the following statement true or false.

The liability of a Karta in a Joint Hindu family firm is limited.

  • true

  • false

True or false | Q 3 | Page 39

State with reasons whether the following statement true or false.

The maximum number of members in a Joint Hindu family is 20.

  • True 

  • False

True or false | Q 4 | Page 39

State with reasons whether the following statement true or false.

Company form of organization has developed before industrial revolution.

  • True

  • False 

True or false | Q 5 | Page 39

State with reasons whether the following statement true or false.

A joint stock company can raise huge capital.

  • True

  • False 

True or false | Q 6 | Page 39

State with reasons whether the following statement true or false.

Share holders can manage the business.

  • True 

  • False 

True or false | Q 7 | Page 39

State with reasons whether the following statement true or false.

The ownership and management are not separate in Joint stock company.

  • True 

  • False 

True or false | Q 8 | Page 39

State with reasons whether the following statement true or false.

The main purpose of a co-operative organization is to earn profit.

  • True 

  • False

True or false | Q 9 | Page 39

State with reasons whether the following statement true or false.

The membership of a co-operative society is voluntary.

  • True 

  • False 

True or false | Q 10 | Page 39

State with reasons whether the following statement true or false.

Co-operative society differs from other forms of commercial organizations.

  • True

  • False 

True or false | Q 11 | Page 39

State with reasons whether the following statement true or false.

Maximization of profit is the main motto of co-operative society.

  • True 

  • False 

True or false | Q 12 | Page 39

State with reasons whether the following statement true or false.

In partnership agreement may be oral or written.

  • True 

  • False 

True or false | Q 13 | Page 39

State with reasons whether the following statement true or false.

In a partnership the liability of every partner of a firm is unlimited.

  • True 

  • False 

True or false | Q 14 | Page 39

State with reasons whether the following statement is true or false.

The owner of the sole proprietorship is the sole decision maker of his business.

  • True 

  • False 

True or false | Q 15 | Page 39

State with reasons whether the following statement is true or false.

Sole Proprietorship is useful for small business.

  • True 

  • False 

True or false | Q 16 | Page 39

State with reasons whether the following statement is true or false.

A sole trading concern is easiest to form.

  • True 

  • False

Micheal Vaz solutions for 12th Board Exam OCM Chapter 1 Exercise Write short answer of the following [Pages 39 - 40]

Write short answer of the following | Q 1 | Page 39

Write short answer of the following.
State the demerits of proprietorship.

Write short answer of the following | Q 2 | Page 39

Write short answer of the following.
State the features of Proprietorship.

Write short answer of the following | Q 3 | Page 39

Write short answer of the following.
Define partnership and state its important features.

Write short answer of the following | Q 4 | Page 39

Write short answer of the following.
State the types of partners.

Write short answer of the following | Q 5 | Page 39

Write short answer of the following.
State the types of partnership firm.

Write short answer of the following | Q 6 | Page 39

Write short note on the following.
Features of partnership firm.

Write short answer of the following | Q 7 | Page 39

Write short answer of the following.
State the merits of partnership firm.

Write short answer of the following | Q 8 | Page 39

Write short answer of the following.
State the Registration of partnership and its procedure.

Write short answer of the following | Q 9 | Page 39

Write short answer of the following.
State the types of Co-operative societies.

Write short answer of the following | Q 10 | Page 39

Write short answer of the following.
State the features of co-operative society

Write short answer of the following | Q 11 | Page 39

Write short answer of the following.
State the merits of co-operative societies.

Write short answer of the following | Q 12 | Page 39

Write short note on the following.
Demerits of Co-operative society

Write short answer of the following | Q 13 | Page 39

Write short note on the following.
Features of Joint Stock company

Write short answer of the following | Q 14 | Page 39

Write short answer of the following.
State merits of Joint Stock Company.

Write short answer of the following | Q 15 | Page 40

Write short answer of the following.
State demerits of Joint Stock company.

Write short answer of the following | Q 16 | Page 40

Write short answer of the following.
State factors to be considered for starting business.

Write short answer of the following | Q 17 | Page 40

Write short answer of the following.
State the point of choice of forms of business organization.

Micheal Vaz solutions for 12th Board Exam OCM Chapter 1 Exercise Long answer type question, Long answer type questions [Page 40]

Long answer type question | Q 1 | Page 40

Long answer type question.

Define Joint Stock Company and explain its features.

Long answer type questions | Q 2 | Page 40

Long answer type question.

Define Sole Trading Concern and explain its merits and demerits.  

Long answer type questions | Q 3 | Page 40

Long answer type question.
Define partnership firm. Explain its merits and demerits.

Long answer type question | Q 4 | Page 40

Write short note on the following.
Features of partnership firm.

Long answer type question | Q 5 | Page 40

Long answer type question.
Define a Joint Hindu family firm. Explain its merits and demerits.

Long answer type question | Q 6 | Page 40

Long answer type question.
Define a Joint Hindu family firm. Explain features of joint Hindu family firm.

Long answer type question | Q 7 | Page 40

Long answer type question.
Define Co-operative society. Explain its features.

Long answer type question | Q 8 | Page 40

Long answer type question.
Define Co-operative society. Explain its merits and demerits.

Long answer type question | Q 9 | Page 40

Long answer type question.
Define Joint Stock Company. Explain its merits and demerits.

Chapter 1: Forms of Business Organisations

Select the proper optionMatch the correct pairsWrite a word or a phraseDistinguish between the followingWrite short notes on the followingWrite short answer of the followingTrue or falseLong answer type questionLong answer type questions

Micheal Vaz Micheal Vaz Class 12 Organisation of Commerce and Management

Micheal Vaz Class 12 Organisation of Commerce and Management - Shaalaa.com

Micheal Vaz solutions for 12th Board Exam Organisation of Commerce and Management chapter 1 - Forms of Business Organisations

Micheal Vaz solutions for 12th Board Exam OCM chapter 1 (Forms of Business Organisations) 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 Micheal Vaz Class 12 Organisation of Commerce and Management 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. Micheal Vaz textbook solutions can be a core help for self-study and acts as a perfect self-help guidance for students.

Concepts covered in 12th Board Exam Organisation of Commerce and Management chapter 1 Forms of Business Organisations are Concept of Sole Proprietorship Or Sole Trader, Merits of Sole Proprietorship Or Sole Trader, Limitations of Sole Proprietorship Or Sole Trader, Hindu Undivided Family Business or Joint Hindu Family Business, Concept of Partnership, Registration of a Partnership Firm, Types of Partners, Concept of Cooperative Societies, Concept of Company, Basic Factors of Starting a Business, Choice of Form of Business Organization.

Using Micheal Vaz 12th Board Exam solutions Forms of Business Organisations 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 Micheal Vaz Solutions are important questions that can be asked in the final exam. Maximum students of Maharashtra State Board 12th Board Exam prefer Micheal Vaz Textbook Solutions to score more in exam.

Get the free view of chapter 1 Forms of Business Organisations 12th Board Exam extra questions for OCM and can use Shaalaa.com to keep it handy for your exam preparation

S
View in app×