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

Back to home

Start Practice

Question-1
A sole trader business

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

Question-2 A written partnership agreement should show

(A) Profit and Loss sharing ratio	(B)Arrangements on the retirement or death of a partner
(C)The contribution of cash and other assets made by each partner	(D)All of these

Question-3
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-4
All of the following are types of business structure, except

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

Question-5
Sole trader is a common form of business structure among

(A) Hairdressers	(B) Electricians
(C) Bakery business	(D) All of these

Question-6 Decision-making process in sole trading business is

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

Question-7 Which financial statement is concerned with the enterprise over a period of time?

(A) Statement of cash flows and Income statement	(B)Balance sheet
(C)Trading Account	(D)All of these

Question-8
Sole trading business can be started by

(A) At least two persons	(B) At least seven persons
(C) Any one person	(D) More than ten persons

Question-9 Which of the following statement is correct?

(A) Public companies have Ltd after their name	(B)Public companies can offer their shares for sale to the public
(C)Public companies do not have perpetual life	(D)Both (a) and (b) are correct

Question-10 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

Click here to see your answersheet and detailed track records.

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

CONTENTS

Back to home

Start Practice

Practice in Related Chapters