Types of Businesses MCQs
MCQs 1 to 10
1. The Maximum number of banking partners can be fixed at the following?
2. Which of the following is a benefit of the corporate form of business?
3. Company with single taxation is called?
4. Which of the following enjoys the benefit of limited liability?
5. A large organization with separate legal status is known as?
6. Which of these characteristics does not apply to partnership?
7. Organizations which combine the limited liability advantage of a partnership are called as?
8. All of the form of business organizations except?
9. Which of the following business has the burden of unlimited liability?
10. Which of the following business entity is collectively known as firm?
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MCQs11 to 20
11. Organizations which combine the limited liability advantage in sole ownership are called?
12. The partnership format might be useful to the owners of a small business in order to?
13. Which of the following is true about a partnership?
14. What is the meaning of the word ‘limited’ in the name of a limited company?
15. A _______________ business is one in which income is generated by the resale of produced product?
16. Which of the following is/are true about the sole trader form of business?
17. Which of the following documents contains offer to subscribe shares?
18. Which of the following are the owners of a partnership business?
19. In which type of a business, the owner and his business are not considered same in the eyes of law?
20. Which of the following forms of business does not protect owners from business creditors?
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>> Practice Journal Entry Problems and Solutions
Mukharji, A., & Hanif, M. (2003). Financial Accounting (Vol. 1). New Delhi: Tata McGraw-Hill Publishing Co.
Narayanswami, R. (2008). Financial Accounting: A Managerial Perspective. (3rd, Ed.) New Delhi: Prentice Hall of India.
Ramchandran, N., & Kakani, R. K. (2007). Financial Accounting for Management. (2nd, Ed.) New Delhi: Tata McGraw Hill.