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![Micheal Vaz solutions for Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board chapter 1 - Forms of Business Organisations - Shaalaa.com](/images/organisation-of-commerce-and-management-ocm-english-12-standard-hsc-maharashtra-state-board_6:5f2b1b2038084cf381bfa42c826a928c.jpg "Micheal Vaz solutions for Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board chapter 1 - Forms of Business Organisations")
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Solutions for Chapter 1: Forms of Business Organisations
Below listed, you can find solutions for Chapter 1 of Maharashtra State Board Micheal Vaz for Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board.
Micheal Vaz solutions for Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board 1 Forms of Business Organisations Select the proper option [Pages 35 - 37]
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 from the options given below and rewrite the completed sentence.
A sole proprietorship has ________ owner/owners.
one
two
unlimited
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 from the options given below and rewrite the completed sentence.
A sole trading concern ensures ________ business secrecy.
minimum
maximum
limited
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 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 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 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 from the options given below and rewrite the completed sentence.
The Head of Joint Hindu family Business is called as ________.
Proprietor
Karta
Director
The maximum number of partners for a firm carrying on banking business is .............. .
ten
twenty
seven
Indian Partnership Act was passed in the year...............................
1912
1923
1932
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 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 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 from the options given below and rewrite the completed sentence.
At least ________ persons are required to form a partnership firm.
two
one
three
The maximum number of members in a private limited company are ______.
50
40
20
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 from the options given below and rewrite the completed sentence.
The elected representatives of shareholders are called ________.
Directors
Members
Owners
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 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 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 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 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 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 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 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 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 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 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 Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board 1 Forms of Business Organisations Match the correct pairs [Pages 37 - 38]
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.
Micheal Vaz solutions for Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board 1 Forms of Business Organisations Write a word or a phrase [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 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 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 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 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 or a term which can substitute the following.
The commercial organization which has maximum secrecy.
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 or a term which can substitute the following.
An artificial person created by law.
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 or a term which can substitute the following.
The members of the Joint Hindu family firm.
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 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 Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board 1 Forms of Business Organisations Distinguish between the following [Pages 380 - 38]
Distinguish between the following.
Sole Trading concern and partnership firm.
Distinguish between the following.
Joint Hindu family firm and Sole Trading concern
Distinguish between the following.
Joint Hindu Family firm and Partnership
Distinguish between the following.
Partnership firm and Joint Stock company
Distinguish between the following.
Joint Hindu family firm and Joint stock company
Distinguish between the following.
Private Limited company and Public limited company
Distinguish between the following.
Sole trading concern and Joint stock company
Micheal Vaz solutions for Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board 1 Forms of Business Organisations Write short notes on the following [Pages 38 - 39]
Write short notes on the following.
Features of a proprietorship
Write short note on the following.
Merits of a proprietorship
Write short note on the following.
Features of partnership firm.
Write short note on the following.
Type of partners
Write short note on the following.
Merits of a partnership firm
Write short note on the following.
Type of partnership firm.
Write short note on the following.
Features of Joint Hindu family.
Write short note on the following.
Merits of Joint Hindu family
Write short note on the following.
Features of Joint Stock company
Write short note on the following.
Merits of Joint stock company.
Write short answer of the following.
State the features of co-operative society
Write short note on the following.
Merits of Co-operative society.
Write short note on the following.
Demerits of Co-operative society
Micheal Vaz solutions for Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board 1 Forms of Business Organisations True or false [Pages 3 - 39]
State with reasons whether the following statement true or false.
There is no limit for membership in Joint Hindu family Business.
True
False
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
State with reasons whether the following statement true or false.
The maximum number of members in a Joint Hindu family is 20.
True
False
State with reasons whether the following statement true or false.
Company form of organization has developed before industrial revolution.
True
False
State with reasons whether the following statement true or false.
A joint stock company can raise huge capital.
True
False
State with reasons whether the following statement true or false.
Share holders can manage the business.
True
False
State with reasons whether the following statement true or false.
The ownership and management are not separate in Joint stock company.
True
False
State with reasons whether the following statement true or false.
The main purpose of a co-operative organization is to earn profit.
True
False
State with reasons whether the following statement true or false.
The membership of a co-operative society is voluntary.
True
False
State with reasons whether the following statement true or false.
Co-operative society differs from other forms of commercial organizations.
True
False
State with reasons whether the following statement true or false.
Maximization of profit is the main motto of co-operative society.
True
False
State with reasons whether the following statement true or false.
In partnership agreement may be oral or written.
True
False
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
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
State with reasons whether the following statement is true or false.
Sole Proprietorship is useful for small business.
True
False
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 Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board 1 Forms of Business Organisations Write short answer of the following [Pages 39 - 40]
Write short answer of the following.
State the demerits of proprietorship.
State the features of proprietorship.
Write short answer of the following.
Define partnership and state its important features.
Write short answer of the following.
State the types of partners.
Write short answer of the following.
State the types of partnership firm.
Write short note on the following.
Features of partnership firm.
State the merits of a partnership firm.
Write short answer of the following.
State the Registration of partnership and its procedure.
Write short answer of the following.
State the types of Co-operative societies.
Write short answer of the following.
State the features of co-operative society
Write short answer of the following.
State the merits of co-operative societies.
Write short note on the following.
Demerits of Co-operative society
Write short note on the following.
Features of Joint Stock company
Write short answer of the following.
State merits of Joint Stock Company.
Write short answer of the following.
State demerits of Joint Stock company.
Write short answer of the following.
State factors to be considered for starting business.
Write short answer of the following.
State the point of choice of forms of business organization.
Micheal Vaz solutions for Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board 1 Forms of Business Organisations Long answer type question [Page 40]
Long answer type question.
Define Joint Stock Company and explain its features.
Long answer type question.
Define Sole Trading Concern and explain its merits and demerits.
Long answer type question.
Define partnership firm. Explain its merits and demerits.
Write short note on the following.
Features of partnership firm.
Define ‘Joint Hindu family business/firm’.
Explain the merits of the Joint Hindu family business.
Explain the demerits of a Joint Hindu family business.
Long answer type question.
Define a Joint Hindu family firm. Explain features of joint Hindu family firm.
Long answer type question.
Define Co-operative society. Explain its features.
Long answer type question.
Define Co-operative society. Explain its merits and demerits.
Long answer type question.
Define Joint Stock Company. Explain its merits and demerits.
Solutions for 1: Forms of Business Organisations
Micheal Vaz solutions for Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board chapter 1 - Forms of Business Organisations
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