Class 11 Business Studies Chapter 2 Worksheet 1: Forms of Business Organisation (MCQs and Case-based Questions)

Class 11 Business Studies Chapter 2 Worksheet (Forms of Business Organisation)

As a Class 11 Business Studies student, are you ready to ace your BST exam?

Our expert team has designed this comprehensive Chapter 2 (Forms of Business Organisation) worksheet specifically for ambitious students.

This study material contains a strategic mix of MCQs, Assertion-Reason questions, and challenging case-based questions that test your analytical skills.

You can easily cover essential topics, including sole proprietorships, joint stock companies, partnership deeds, cooperative societies, and Hindu Undivided Family (HUF) businesses.

Before you proceed further, below are the quick details:

  • Class: 11
  • Subject: Business Studies
  • Chapter Number: 2
  • Chapter Name: Forms of Business Organisation
  • Worksheet Number: 1
  • Worksheet Type: MCQs and Case-based Questions

Table of Contents

Questions Answers

The worksheet begins from here.

Class 11 BST Questions

Q1. The Board of Directors of a Joint Stock Company is elected by:

  1. General public
  2. Government bodies
  3. Shareholders
  4. Employees

Q2. Find any two similarities between joint stock companies and cooperative societies.

  1. Limited Liability & Common Seal
  2. Separate Entity & Formation
  3. Limited Liability & Management Control
  4. Separate Entity & Service Motive

Q3. The aim of such societies is to protect members from the exploitation of lenders who charge high rates of interest on loans. Identify the society referred to here.

  1. Consumer's cooperative societies
  2. Producer's cooperative societies
  3. Credit cooperative societies
  4. Farmer's cooperative societies

Q4. Assertion (A): The death or insanity of a member of the Joint Hindu Family business will bring its business to an end.
Reason (R): The business continues even after the death of the Karta as the next eldest member takes up the position of Karta.

  1. Both (A) and (R) are true, and Reason (R) is the correct explanation of Assertion (A).
  2. Both (A) and (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
  3. Assertion (A) is true, but Reason (R) is false.
  4. Assertion (A) is false, but Reason (R) is true.

Q5. According to the Indian Partnership Act, 1932, it is not compulsory for a partnership firm to get itself registered. Then why do partners prefer to get the firm registered?

Q6. Ankita Publishing House was a Private Ltd. Company. The publishing business was growing by leaps and bounds. The demand was huge. It required immense investments to set up its branches and printing base all over the country. The Board of Directors was thinking of offering shares to the public to meet investment requirements. On the basis of the above case, answer the following questions:

  1. Identify the form of business organisation the Board members are thinking of forming.
  2. Write any two benefits that would be denied if this form is accepted.
  3. Write any two benefits that would be availed if this form is accepted by the company.

Q7. Mr. Naman has two sons, Harsh and Raman. After completing their graduation, his sons decided to start their own business of manufacturing readymade men’s clothes to earn money. Since they had a commercial space near their house, they started a factory. They purchased cloth in bulk for trousers and shirts from the wholesale market. They employed 10 tailors and 2 salesmen. Since some of their relatives were already in the same product line, they did not face any problems in finding buyers. They earned a 20% profit in their first year of operation. During the second year of their operations, due to a theft in their factory, they suffered a loss of Rs. 50,000. Their father told them not to lose heart, as risk is a part of every business. Their business started flourishing, and they opened their own outlet at a popular location in the city after a few years of operation. Due to tough competition in the men’s clothing business, they tried to enter into women’s clothing too. On the basis of the above information about the business done by Harsh and Raman, answer the following questions:

  1. Quoting the lines from the above paragraph, identify and explain five features of business highlighted in the case.
  2. State the feature NOT mentioned in the paragraph.

Q8. Boni Coffee House is a restaurant chain in India. It has a strong presence across India with nearly 250 coffee houses. These are governed by managing committees elected by employees. These are completely owned and managed by employees only. These have also received appreciation and support from the government and the public. The voting rights in these are neither tied to investment nor patronage. On the basis of the above information, answer the following questions:

  1. Identify the form of business organisation highlighted in the above case.
  2. Explain any three merits of the business organisation identified above.
  3. Explain any two types of the business organisation identified in (a).

Q9. The private sector comprises various types of business organisations. However, there is a form of business organisation that restricts the right to transfer ownership in one of its types; on the other hand, the other type of the same business organisation allows its owners to transfer their ownership rights.

  1. Identify the types of the form of business organisation highlighted in the above paragraph.
  2. State any three other differences between the types identified in part (a).

Q10.

  1. If registration is optional, why do partnership firms willingly go through this legal formality and get themselves registered? Explain.
  2. "Even though it is not essential to have a written agreement between partners, it is advisable to have a written agreement as it constitutes evidence of the conditions agreed upon." Name the document discussed in the above line.

Q11. Aseem is running an export business. Every time he obtained an export order, he felt stressed and had anxiety about completing it on time. A few years later, his younger sister Aalia, after completing a course in fashion designing, joined him in the business as a partner. Consequently, Aseem realized that his level of stress and anxiety related to business operations had reduced substantially, and he had started feeling more relaxed. However, at the same time, he noticed that since both of them differ in their choice of colours for making garments, a lot of time is being wasted in reaching a mutual consent.

  1. Identify and explain the related advantage of a partnership given in the case.
  2. Identify and explain the related disadvantage of a partnership given in the case.

Q12. IFFCO's mission is to enable Indian farmers to prosper through the timely supply of reliable, high-quality agricultural inputs and services to improve their welfare. Similarly, Amul was established with the aim of providing a direct linkage between small milk producers and consumers by eliminating middlemen.

  1. Identify and explain the types of cooperative societies discussed above.
  2. Comment on the legal status, control, and liability of cooperative societies.

Answers (Coming Soon)

The End

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A List of Notes:
Chapter 1  |  Chapter 2  |  Chapter 3  |  Chapter 4  |  Chapter 5  |  Chapter 6  |  Chapter 7  |  Chapter 8  |  Chapter 9  |  Chapter 10
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