Go through the important set of questions and answers of CBSE chic 11 Business Studies (Chapter 2- Forms of Business Organisation). The provided continued and abbreviate acknowledgment questions are from the NCERT arbiter as able-bodied as from the abridgement of Business Studies 2020. Prepare yourself able-bodied with these important questions of chic 11 Business Studies Exam 2020.
CBSE Chic 11 Business Studies Chapter 2 Forms of Business Organisation- Important Questions and Answers
Q 1- Mention some of the important privileges accessible to a clandestine company.
Ans- As compared to a accessible company, the clandestine aggregation enjoys assertive privileges or exemptions. Few of them are mentioned below:
Commencement of Business- Once the Clandestine aggregation receives the Affidavit of Incorporation, they can alpha their operation appropriate away. While for the accessible aggregation it is important to access a affidavit of admission forth with the Affidavit of Incorporation.
Fewer associates required- A clandestine aggregation needs to accept aloof two bodies for the business to start. On the added hand, alone seven associates are appropriate for the accessible company.
Absence of restrictions for giving a accommodation to the directors- For the admiral of the clandestine company, there is no brake on accommodation bulk that can be granted. No permission is appropriate for advancing loans. While the accessible aggregation needs to booty the permission of the government afore acceding the accommodation to its director.
Q 2- Compare the cachet of accessory in a Joint Hindu Ancestors Business to that in a affiliation firm.
Ans- Any being beneath the age of 18 is advised accessory as per the Indian law. In Joint Hindu Ancestors Business, bearing is the alone agency for associates in the ancestors business. As anon as the boy adolescent is born, he becomes advantaged to the allotment in the ancestors business and has according buying appropriate on the affiliated property.
But as per the Affiliation Act, 1923, no accessory can be a allotment of the affiliation firm. Accessory is not accurately accustomed to access into any acknowledged contract. However, with all the partner’s consent, the accessory can be accepted to allotment the profits of the close but he cannot accord to basic or buck any losses of the firm.
Q3- Why do affiliation firms annals themselves, alike if it is optional? Discuss.
Ans- The allotment of affiliation firms is alternative but still abounding firms go through this acknowledged formality. The acumen is that are a assertive cardinal of disadvantages with not accepting registered. Few of them are mentioned below:
Q 4- Who accept the Board of Admiral in the Joint Banal Company?
Ans- Shareholders elect The Board of Directors in the Joint Banal Company.
Q5- What is a Joint Banal Company?
Ans- Joint-stock companies are formed with the purpose to accounts efforts which are admired for an alone or alike a government. Joint-Stock aggregation owners appeal a accumulation share.
A joint-stock aggregation is a business controlled by its investors. Each of the investors enjoys the allotment of profit. The bulk of allotment depends on the bulk of acquired stock.
Q 6- In what means does the accommodating association exemplifies agnosticism and democracy? Describe in abrupt points.
Ans- The cardinal of means through which accommodating association exemplifies agnosticism and capitalism is mentioned in credibility below:
Q 7- What is absolute liability?
Ans: Absolute accountability is the captivation of general ally and sole proprietors able for debt and liabilities collected by the business. The liability cannot be capped and can be easily paid off aural the access of owners’ own personal assets, which makes it audible from the limited accountability ventures.
Q 8- Who is a abstruse partner?
Ans- The accomplice whose associates is hidden from the accessible and is maintained as a abstruse is accepted as a abstruse partner.
Q 9- What is ‘partner by estoppel’? Explain
A being can be admired as a ‘partner by estoppel’, if he or she through his/her accomplishments or behavior, leaves an consequence on third parties that he or she is a accomplice in a accurate firm. They can additionally be captivated accountable for the debts of the close owes any of them to third parties.
Q 10- Which aggregation has no restrictions on the alteration of shares?
Ans: Accessible aggregation is the one that has no restrictions on the allotment transfer.
Business Form One Question And Answers – business form one question and answers
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