Tamil Nadu (English Medium) Plus 2 Commerce Study Materials, Online Learning, Question Papers, Classnotes, Practice Test, MCQ | Smartindia Educational Program : www.smartindia.net.in


Accountancy
Commerce
Economics
English

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Question-1
A form of business structure which involves a trustee holding assets for the benefit of other parties is known as a

(A) Proprietary company	(B) No-liability company
(C) Trust	(D) All of these

Question-2 Decision-making process in sole trading business is

(A) Quick	(B)Slow
(C)Neither Quick or slow	(D)None of these

Question-3
All of the following are types of business structure, except

(A) Accounting Entity	(B) Trust
(C) Sole Trader	(D) Partnership

Question-4 XYZ Com Ltd started the year with total assets of Rs 100,000 and total liabilities of Rs 30,000. During the year the business earned Rs 80,000 in income and incurred Rs 45,000 in expenses. Dividends paid were Rs 5000. The profit for XYZ for the period was

(A) 35,000	(B)45,000
(C)20,000	(D)80,000

Question-5
A business that is not a legal entity, where there is one owner who is fully liable for all of its debts, is

(A) A trust	(B) A proprietary Company
(C) A sole trader	(D) All of the above

Question-6
A sole trader business

(A) Must be registered	(B) Need not be Registered
(C) Compulsory registered	(D) None of these

Question-7
A sole trader

(A) Cannot keep his business secrets	(B) Can keep his business secrets
(C) All of the above	(D) None of these

Question-8 The liability of a sole trader is

(A) Limited only to his investment in the business	(B)Limited to total property of the business
(C)Unlimited	(D)None of these

Question-9
The business structure that protect the personal assets of the owners from the creditors of the business are:

(A) Trust and partnership	(B) Company and Trust
(C) Company and Sole trader	(D) Partnership and Company

Question-10 Sole proprietorship is suitable for

(A) Large scale concerns	(B)Medium scale concerns
(C)Small scale concerns	(D)All of the above

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Plus 2 Commerce

Tamil Nadu (English Medium)

Practice in Related Chapters
Organisation
Sole Trader
Partnership
Joint Stock Companies -I
Joint Stock Companies II
Government in Business
Stock Exchange
Co-operatives

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Practice in Related Chapters