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![Balbharati solutions for Organisation of Commerce and Management (OCM) [English] 11 Standard Maharashtra State Board chapter 4 - Forms of Business Organisation - 1 - Shaalaa.com](/images/organisation-of-commerce-and-management-ocm-english-11-standard-maharashtra-state-board_6:6d7a64cd67404b7ba86273ac2c28fe3b.JPG "Balbharati solutions for Organisation of Commerce and Management (OCM) [English] 11 Standard Maharashtra State Board chapter 4 - Forms of Business Organisation - 1")
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Solutions for Chapter 4: Forms of Business Organisation - 1
Below listed, you can find solutions for Chapter 4 of Maharashtra State Board Balbharati for Organisation of Commerce and Management (OCM) [English] 11 Standard Maharashtra State Board.
Balbharati solutions for Organisation of Commerce and Management (OCM) [English] 11 Standard Maharashtra State Board 4 Forms of Business Organisation - 1 EXERCISE [Pages 89 - 94]
Select the correct option and rewrite the sentence.
A sole trading concern ensures _________ business secrecy.
Maximum
minimum
limited
Select the correct option and rewrite the sentence.
The members of Hindu undivided family business are called___________
Carpenter
coparcener
parceners
Select the correct option and rewrite the sentence.
The head of joint Hindu Family Business is called as ___________
KARTA
owner
manager
Select the correct option and rewrite the sentence.
Registration of partnership firm is _________ in Maharashtra
Voluntary
compulsory
easy
Select the correct option and rewrite the sentence.
The liability of the shareholders in the joint Stock Company is ________.
Limited
unlimited
restricted
Select the correct option and rewrite the sentence.
A Joint Stock Company is an artificial person created by ________.
Law
Articles
Memorandum
Select the correct option and rewrite the sentence.
Registration of a Joint Stock Company is ________.
Compulsory
free
not required
Select the correct option and rewrite the sentence.
Liability of member of a Co-operative Society is ________.
Limited
restricted
maximum
Select the correct option and rewrite the sentence.
Indian Co-operative Society’s Act was passed in ________.
1912
1913
1911
Select the correct option and rewrite the sentence.
_________acts as a signature of the company.
Common seal
Common sign
Common image
Match the pairs.
| Group ‘A’ | Group ‘B’ |
| A) Private Company | 1) Karta |
| B) Public Company | 2) Local Market |
| C) Common Seal | 3) 1932 |
| D) Partnership Act | 4) Maximum 200 members |
| E) Joint Hindu Family Firms | 5) One Man Show |
| 6) Minimum Seven members | |
| 7) Minimum 10 members | |
| 8) Signature of Company | |
| 9 ) Maximum 100 members | |
| 10) Manager |
Give one word/phrase/term.
An elected body of representatives of co-operative Society for its day to day administrations.
Give one word/phrase/term.
The owner is the sole manager and decision maker of his business.
Give one word/phrase/term.
One man Show type of business organisation.
Give one word/phrase/term.
The members of the Joint Hindu Family firm.
Give one word/phrase/term.
A partner who gives his name to the partnership firm.
Give one word/phrase/term.
There is a free transferability of shares in this company.
Give one word/phrase/term.
A partnership agreement in writing.
Give one word/phrase/term.
The motto of the co-operative society.
Give one word/phrase/term.
An organization which is service-oriented.
State True or False:
Sole trader is the decision-maker of the business.
True
False
State True or False:
Sole trading concern operates in local markets.
True
False
State True or False:
Sole proprietorship is useful for small business.
True
False
State True or False:
The liability of KARTA is unlimited.
True
False
State True or False:
The maximum number of members is unlimited in Joint Hindu Family Firm.
True
False
State True or False:
Joint Stock company can raise huge amount of capital.
True
False
State True or False:
There is a separation of ownership & management in the Joint Stock Company.
True
False
State True or False:
Board of Directors manages the business of Joint Stock Company.
True
False
State True or False:
Partnership agreement may be oral or written.
True
False
State True or False:
In a partnership firm, the liability of every partner is limited, joint and several.
True
False
State True or False:
The main motto of co-operative society is to render services to its shareholders.
True
False
State True or False:
The membership of a co-operative society is compulsory.
True
False
Find the odd one.
Sole proprietorship
Joint Hindu Family
Non-Government Organization (NGO)
Partnership firm
Find the odd one.
Active Partner
Shareholder
Nominal Partner
Secret partner
Complete the sentence.
Private sector enterprises are owned and managed by the _____________
Complete the sentence.
There is only one owner in _____________
Complete the sentence.
Admission of new individual into existing business has given birth to _____________
Complete the sentence.
A partner who takes active participation in the day to day working of the business is known as _____________
Complete the sentence.
When there is no provision in partnership agreement regarding time period for partnership then it is known as _____________.
Complete the sentence.
The property of JHF business is jointly owned by the ________
Complete the sentence.
The management of Co-operative society is based on _______________.
Complete the sentence.
The rule for voting in Co-operative society is __________.
Complete the sentence.
The rule for voting in Joint stock company is __________.
Complete the sentence.
The face value of the shares of Co-operative society is very _______.
Complete the sentence.
Consumer’s co-operatives are formed by the _______.
Complete the sentence.
Registration of Joint stock company is compulsory according to the Companies Act _______.
Select the correct option:
| A | B |
| Minimum 2 and maximum 200 | _____________ |
Public company
Private Company
Co-operative Society
Partnership Firm
Sole Trading concern
Select the correct option:
| A | B |
| Minimum 10 and maximum no limit | _____________ |
Public company
Private Company
Co-operative Society
Partnership Firm
Sole Trading concern
Select the correct option:
| A | B |
| ______________ | Minimum 7 and maximum unlimited |
Public company
Private Company
Co-operative Society
Partnership Firm
Sole Trading concern
Select the correct option:
| A | B |
| Forms of business organisation | ______________ |
Public company
Private Company
Co-operative Society
Partnership Firm
Sole Trading concern
Select the correct option:
| A | B |
| Minimum 2 and maximum 50 | ______________ |
Public company
Private Company
Co-operative Society
Partnership Firm
Sole Trading concern
Answer in one sentence.
What is sole Trading concern?
Answer in one sentence.
What do you mean by partnership firm?
Answer in one sentence.
What is the meaning of Joint Stock Company?
Answer in one sentence.
What is Joint Hindu Family business?
Answer in one sentence.
What do you mean by co-operative Society?
Answer in one sentence.
What do you mean by minor partner?
Answer in one sentence.
What is Quasi Partner?
Answer in one sentence.
What do you mean by partner-in-profits only?
Answer in one sentence.
What do you mean by a general partnership?
Answer in one sentence.
What is the meaning of Private Company?
Answer in one sentence.
What do you mean by Public company?
Correct the underlined word and rewrite the following sentence.
In public company, shares are not freely transferrable
Correct the underlined word and rewrite the following sentence.
In Private Company, there are minimum 3 (Three) directors.
Correct the underlined word and rewrite the following sentence.
Registration of Joint Stock Company is not compulsory.
Correct the underlined word and rewrite the following sentence.
There is less secrecy in Sole Trading concern.
Correct the underlined word and rewrite the following sentence.
In a Partnership firm, minimum three members are required.
Correct the underlined word and rewrite the following sentence.
In Joint Hindu Family business, the senior most member of family is called as Co-parcener.
Correct the underlined word and rewrite the following sentence.
Indian Partnership Act, 1940 is applicable in India.
Explain the following term/concept:
Sole Trading Concern.
Explain the following term/concept:
Partnership Firm.
Explain the following term/concept:
Joint Hindu Family Firm.
Explain the following term/concept:
Co-operative Society.
Explain the following term/concept:
Joint Stock Company.
Explain the following term/concept:
Karta.
Explain the following term/concept:
Managing Committee.
Explain the following term/concept:
Nominal Partner.
Study the following case situation and express your opinion:
Mr. Raghunath is running a business from the last 30 years. This business is ancestoral business of Mr. Raghunath. Kiran and Naman, two sons of Mr. Raghunath are helping him along with their wives.
- Find out the type of business.
- Who is Raghunath?
- What Kiran and Naman are called?
Mr. Sawant a Chartered Accountant by profession and Mrs. Tambe, an Architect by profession running a firm namely ‘ST Firms’ in Nagpur.
- Identify the form of business organisation in the above example.
- Is it a registered organisation?
- What is the Profession of Mr. Sawant?
Distinguish between.
Private Limited Company and Public Limited Company.
Distinguish between.
Sole Trading Concern and Partnership Firm.
Distinguish between.
Partnership Firm and Joint Hindi Family.
Distinguish between.
Co-operative Society and Joint Stock Company.
Distinguish between.
Joint Hindu Family Firm and Joint Stock Company.
Distinguish between Co-operative Society and Partnership Firm.
Answer in brief.
State any four features of Sole Trading Concern.
Answer in brief.
State any four types of partners.
Answer in brief.
Describe any four types of Co-operative Society.
Answer in brief.
State any four merits of the Joint Hindu Family Firm.
Answer in brief.
State any four demerits of Joint Stock Company.
Justify the following statement.
Liability of a ‘Sole trader’ is Unlimited.
Justify the following statement.
Karta is the sole manager of ‘Joint Hindu Family Business’.
Justify the following statement.
The main objective of Co-operative society is to provide services to its members.
Justify the following statement.
A Joint Stock Company can raise huge capital.
Justify the following statement.
The liability of Co-parceners is limited in ‘Joint Hindu Family Business’.
Justify the following statement.
Sole proprietorship is useful for small business.
Justify the following statement.
Co-operative society follows democratic principles.
Justify the following statement.
There is separation of ownership and management in Joint Stock Company.
Justify the following statement.
Shares of Private Limited Company are not freely transferable.
Justify the following statement.
All partners are joint owners of the Partnership firm.
Justify the following statement.
Active partners take active part in day to day management of partnership firm.
Attempt the following:
Explain various types of Co-operative Society.
Attempt the following:
Explain the features of the Joint Stock Company.
Attempt the following:
Describe the features of the Co-operative Society.
Attempt the following:
Explain the features of Sole Trading Concern.
Attempt the following:
Explain different types of Partnership Firms.
Attempt the following:
Explain different types of Partners.
Attempt the following:
Explain the five features of Joint Stock Company.
Attempt the following:
Explain the merits of a Co-operative Society.
Attempt the following:
Explain the demerits of Partnership firm.
Attempt the following:
Explain the merits of Joint Stock Company.
Attempt the following:
Explain the features of a partnership firm.
Attempt the following:
Explain the types of Co-operative Societies.
Attempt the following:
Explain the demerits of Joint Stock Company.
Solutions for 4: Forms of Business Organisation - 1
Balbharati solutions for Organisation of Commerce and Management (OCM) [English] 11 Standard Maharashtra State Board chapter 4 - Forms of Business Organisation - 1
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Concepts covered in Organisation of Commerce and Management (OCM) [English] 11 Standard Maharashtra State Board chapter 4 Forms of Business Organisation - 1 are Private Sector Organisations, Sole Trading Concern, Partnership Firm, Hindu Undivided Family Business Or Joint Hindu Family Business, Co-operative Society, Joint Stock Company.
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